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Evestin Forex Review: Is this a Scam?

Evestin Forex Review: Is this a Scam?

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Evestin Forex is an expert advisor that provides several trading robots, each with unique trading strategies, and this means that you can spread the risk and opportunity to achieve better results than just trading a single system consistently.

Moreover, the company claims that its experts monitor markets and the trading robots every day. They make sure the systems continuously deliver peak performance. Consequently, the company vows to give you up-to-date trading systems for the current market conditions.

This is an excellent approach. Investors always want to know that they are using the most relevant trading strategies that exist. Therefore, a company must regularly update its trading robots to keep up with the changing markets.

Evestin Forex wants you to believe they are the best providers of Forex trading robots. Sadly, every Forex robot provider says this.

At this moment, we cannot place Evestin Forex among the best Forex trading robots. They have a few things they need to polish first before we can fully trust they are among the best.

Until then, stick to the trading systems that have been tried and tested and proven to work.

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Evestin Forex Review

Evestin Forex says they strive to provide automated systems with character. They say they aim to connect ordinary people with extraordinary trading strategies. The firm wants you to believe that this is the perfect blend for successful Forex trading.

Evestin Forex Review, Evestinforex.com Platform

Moreover, they say their trading robots are the best because clients always have control. Their jobs are just to monitor the markets 24/5 and make trades for you. You are the one who sets the risk per trade to ensure your account is in your hands.

Further, Evestin Forex believes that the only way you can be a successful robot trader is to understand how the robots trade. For this reason, they vow to openly share their robot trading strategies and educate traders so they can learn as they trade with the robots.

This is an exciting feature because it means that even novice traders can use the company’s robots. However, the company does not reveal the time frame the robots work best in.

Evestin Forex robots are designed to work best with the EURUSD, GBPUSD, USDJPY, and AUDUSD pairs.

To become a member, you pay a price of $99 a month, and this covers the cost of all four robots. Still, these robots are a bit expensive compared to some of the best expert advisors in the market.

The four robots offered by Evestin Forex include Satoshi, Satoshi Gold, Satoshi FB, and Gunner.

Trading Strategy

Evestin Forex provides a link to a PDF that goes into detail the trading strategy that their robots use. Here is a brief description of these trading strategies.

The Satoshi robot trades, using Japanese candlestick patterns. The developer claims that these candlestick patterns give him easy to spot visual clues about the market’s direction.

He claims that Satoshi uses Bollinger bands and only takes reversal patterns if they appear at or near the upper Bollinger band for sell trades or near the Lower Bollinger band for buy trades.

The Satoshi Gold is a variation of the Satoshi bot that only trades Gold and longer high reward trades using the same strategy.

The Satoshi FB trades false break patterns that are rare but often produce high probability trades. This bot is also a variation of the Satoshi robot.

The Gunner bot trades only on Mondays. The developer notes that he noticed that the markets open with specific, predictable price action on Monday mornings. He claims that it generally retraces against the move through the whole previous week, and this is the market phenomenon that Gunner exploits in trading. That is also why it only trades on Mondays.

Three of the four robots are just variations of the same trading strategy. We are wondering if this was necessary of the developer could have just converged these into one bot. Either way, this does not justify the high monthly charges to use these robots.

Founder and Customer Support

The founder of Evestin Forex is known as Ivo Luhse. He calls himself a Robot trader and boasts of having extensive experience in Forex trading. It is refreshing to see a company reveal who is behind its operations. Sadly, they do not say where they are headquartered.

Clients can get in touch with the company by filling out a contact form featured on its website. Further, you can email them through at [email protected] Additionally, the company ha social media presence and they provide links to their Facebook page, Instagram account, YouTube channel, and their Twitter account.

It is a good sign. It shows that the company is ready to receive customer complaints and address them. Moreover, some of these channels are public and can be integral in forming a company’s reputation.

Trading Results

The PDF, the company, provides for its trading strategies also features some statistics for the different robots. These statistics include win rate, average reward to risk ration, positive expectancy, and average trades per month.

The company also has a myfxbook account. However, the trading account they used seems to have been removed, and this a cause of concern for us. Without verifiable trading results for each of the robots, it is impossible to tell whether they are profitable or not. The results on the PDF are not reliable as far as we are concerned. They could have been doctored to favor the company’s image.

Domain Insight

The official domain for Evestin Forex is evestinforex.com. The domain was first launched on the 10th of November, 2015. The domain ranks at 7,107,884 on Alexa, and this is relatively low compared to competing companies.

For a website that was first launched in 2015, we do not understand why they are not more popular among traders. It is possible that most traders that have tried their products were not convinced enough to recommend it to others.

Customer Feedback

Evestin Forex has received several reviews on Forex Peace Army. Some of the reviews are positive, and the customers seem to enjoy the services provided. However, they have also received many negative reviews, most complaining that the strategy does not work, and the robot is losing them too much money.

Additionally, a client complained that he lost money, and the company was very unprofessional about it. They completely distanced themselves from liability.

Another client also complained that they used the robots for a year and still couldn’t break even.

This is alarming to hear. At the very least, a whole year’s worth of trading should allow a trader to break even. At least they would have recovered their funds.

Final Verdict

Overall, this company seems legit. Their strategy is impressive, and we like their transparency. However, they do have a few loopholes that they need to deal with before we can fully trust their services. Therefore, we cannot, in our right minds, recommend this company to you at this time.

It would be much wiser for you to stick with systems that have been tried and tested over the years and proven to work. Moreover, this company’s robots are costly. The best Forex trading robots will give you better services at a fraction of the cost.

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