Forester Forex EA is an automated Forex expert advisor that is designed to maximize earnings. The company claims its software is built for traders that are tired of trying to learn how to trade Forex on their own.
The developers of Forester Forex EA software wants you to understand that it is one of the most sophisticated and stable Forex Expert advisors on the market. They claim it is highly intelligent, highly accurate, and is designed to meet your needs. The Forester Forex EA software works on EURUSD and GBPUSD pears.
The developers vows to keep the system updated so that you not only have the best system today, but the best system going forward. The software works with the MetaTrader 4 platform, and the developer promises it applies the best strategies.
The company promises the software is developed by an expert team of professional traders whose aim is to see you succeed. They want you to believe that this is the best investment for yielding a return. This company is relatively new and has been trading for just two months.
Professional and experienced dealers with a wealth of knowledge and a sixth sense for trading always end up making the most profit. This is why investors should always invest in companies that are run by experienced individuals. Our top recommended legit Forex expert advisors will guarantee you consistent returns over time.
Forester Forex EA review
Forester Forex EA claims their expert advisor is the Internet’s number one Forex robot that is currently driving traders around the world wild. This is quite a bold claim for a company that has only been trading for about two months. We do not believe that this company has been around long enough to build this kind of reputation.
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The company does not provide any details about the owners of this product. It is impossible to verify whether they have a successful trading history. We always want to know experienced individuals with successful trading performances run a company before we can recommend it to you.
Furthermore, the company does not give out its physical address. We are always worried about seeing a company hide its base of operations. This is a classic sign of people who don’t want to be tracked down under any circumstances. This is definitely a cause of concern with this company.
According to the company, Forester Forex EA will give you easy money without any effort. This is because their trading robot is an automated Forex strategy and programmed analytical system that allows you to sit back relax and simply watch the robot do all the work for you. You only need to provide the parameters, scales, and limits of your transactions, and then the robot takes over and handles transactions for you.
The company says the bot has the edge in the market because it is devoid of emotional instability and will only work in a completely calculative environment, unlike a human being. They claim the expert advisor is going to compile facts and figures and not let fear, apprehension, and stress get in the way.
The expert advisor analyses and determines the price direction for the next couple of hours or days. It allows you to trade with specified risks and desirable profits. The system opens trades every day. The minimum deposit needed for trading using 0.03 lots is $2500.
When it comes to strategy, the company claims the robot is based on a set of complex algorithms that work in the EURUSD and GBPUSD pairs. This is a really vague description, and the company should do a better job of explaining their approach. Clients always want an in-depth dive at the inner workings of the system they invest with.
The company claims that when you purchase this Forex robot, you’re joining a small select group of traders who have decided they are ready for change and ready to achieve huge success in Forex.
Forester Forex EA is compatible with any type of Forex broker and account as long as the broker allows expert advisor trading. Some of brokers the company recommends include FXOpen, IC Markets, Pepperstone, or Forex4you. The company claims to have tried and tested their trading software throughout various trialing periods with great success.
The company offers three types of licenses for the software. A single license costs $149, a dual license costs $149, and four licenses go out for $249. All the licenses come with a 30-day money-back guarantee.
Regulation and fund safety
Forester Forex EA provides no evidence to show they are a regulated company. There are many risks involved in investing with unregulated companies. Regulatory bodies oversee companies’ operations to ensure they are not running illegal activities.
Additionally, the company does not provide any certification to show their systems are protected from third-party interference. This means that hackers can easily access your money. Systems that handle clients’ funds should not remain unprotected. This means the company cannot assure you of your funds’ safety until they can verify their policies have state-of-the-art hardware and software to keep out hackers and malware.
The company presents it’s trading results on an FX Blue Forester Forex EA account. The results show a total return of 160%. The distribution of profit in terms of pairs is as follows. The EURUSD pair has a win rate of 61%, and the GBPUSD pair has a win rate of 67%. The software trades 3.2 times per day on average and is showing a drawdown of 50%. The win rates are at 22 to 31 pips on average, and the loss range is at 26 to 40 pips on average.
The concern we have with these results is that the drawdown is very high. We would also like to see the results presented on a more reliable platform like Myfxbook.
Should you invest with Forester Forex EA?
At this moment, the company is still too young. We cannot even tell if they are going to stick around long enough to build a lasting reputation. We, therefore, cannot recommend this expert advisor to you. Furthermore, the company lacks transparency. They did not reveal details about their owners nor give the physical address of their headquarters.
The company seems to be operating unregulated, and they have not provided certification to the show their systems are protected from hackers and malware.
While the company shows profitability, we cannot tell if they will be able to maintain this for a more extended period.
We would also like to see the companies trading results presented on a Myfxbook account for more reliability.
This company has only been trading for about two months. It is impossible to fully trust the company based on the trading results of only two months. The company needs to stay in the market long enough to build a reputation before we can recommend it to you.
Additionally, we would love to see a higher level of transparency from this company before we can recommend it to you. In the meantime, we recommend that you stick to the best Forex expert advisors that have been in the market long enough, and have recorded success in trading.
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