Forex Draw EA is a platform that claims to be a Forex advisor. However, upon doing our research, multiple things do not add up. The company is most likely another scam in the market. The firm allegedly can automatically place orders for investors.
There are multiple legit Forex trading EA in the market. However, you should approach these platforms with much caution. This is because some have an ill motive of defrauding as many people as they can in the industry.
We bet that Forexdrawea.com will not be in the market. Such entities do not last more than a year. It will collapse, and people will lose money. The trading software claims it has high accuracy, and those that invest in the platform will yield high profits.
Forex Draw EA targets newbies traders that do not have much insight in the Forex trading niche. The Ponzi scheme states that its main objective is to assist its clients in placing orders quickly. The company keeps the risks minimal and promises clients stable profits.
Unfortunately, the platform fails to disclose the developer behind the alleged magnificent trading software. The anonymity aspect raises eyebrows, and it is hard to believe in empty words. In this review, we shall discuss the critical features of this venture. Keep reading to get an honest insight into the company.
The platform lacks a trading history. Without any evidence of its performing investment services, we cannot trust them with our funds. The company was established in March 2019, and the website has disappeared in the thin air. by the time of this rewrite.
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There is no feedback from investors who have engaged with the platform. If the claims they make are correct, then we should see several clients endorsing their services. Sadly, this is not the case.
The minimum amount that you can start with is pocket friendly. The founder of this system gives its customers access to play a pivotal role. This means that you will have the ability to manage your funds.
Also, the firm claims that it has a news filter section. It is meant to guide investors for them to avoid trading at unfavorable circumstances. The software also will allegedly help clients to trade with small risk.
Nonetheless, we cannot fail to mention that the website is poorly designed. One look at it and you will notice something is off. The website has multiple grammatical errors, and it seems unprofessional.
The owner should have hired someone to present the info in the right manner. You should not, by any chance, allow investment in their system. The platform claim that it is designed for small capital investors.
The software will perform all the hard work for you; therefore, it is not a necessity to have any trading skills. The truth remains that to make reasonable returns and distinguish a scam from a genuine venture, you must have background knowledge.
How Forex Draw EA Work
The company fails to disclose the strategy that it is incorporating. However, based on the data the firm present on the Myfxbook account, it seems they are using scalping martingale strategy. The method has a very high risk and Forex Draw EA, as we had earlier mentioned claim to maintain meager chances for their clients.
The developer of the software seems confused. The strategy does not have a stop loss feature. You can generate a right amount of profit, but in case there is a slight movement in the wrong direction, it would lead to unimaginable losses.
To have full access to this trading software, you need to deposit funds ranging from $149 up to $199. The only available currency pair is EURUSD. This is a significant drawdown, especially to investors who love trading multiple currencies.
The only difference between these two accounts is that one has two licenses, while the other has an unlimited license. The whole thing does not add up, and we are left with more questions. Forex Draw EA does not mention if it is unauthorized to share a copy.
We would not recommend their services to any trader in the market. The trading results that the company presents are desirable. Based on their Myfxbook account, the firm has an average win rate of 79%.
However, the trades of Forex Draw EA are very minimal. It has an average drawdown of 4.95 pips and a win of 1.7 pips. If you use this analysis, you will agree with us that the software is not profitable.
Forex Draw EA is a company that is allegedly located in Singapore. The platform does not disclose the actual office address, and they live their customers to guess. The company additionally does not have a convenient method of communication.
In case you want to reach the support, you will have to send them an email at; [email protected] For starters, this is a free email address, and it raises more red flags on their authenticity.
The platform should at least avail several alternatives to enhance quick response to their customers. Having live support, the telephone number would be much better. However, the only reason this company is operating in such a shady manner is that it’s a scam.
Is Forex Draw EA Legit?
Numerous traders in the market are asking the question. We have much doubt about the Forex trading software. The company does not seem legit, and the fact that there is no feedback from its clients is worrisome.
The only thing that we came across is several marketing contents. The information is probably coming from their promoters who will receive a fat commission. The software is being advertised as an automatic system.
You can, therefore, concentrate on other things as they handle your investment. The big question that we are having is how profitable this venture is? Why is the founder running the system in the dark? What is their official address?
The software allegedly runs its operation 24/5 searching for opportunities to exploit. The company also claims that the software is compatible to all brokerages in the market. They promise to give your money back in 30 days in case the bot does not meet your expectation.
However, we cannot verify this statement as there are no testimonials from their customers. You should not invest blindly by trusting the words of the unknown developer. You need more information that will aid your judgment of selecting the best Forex EA in the industry.
Forexdrawea.com is a venture that you avoid at all costs. The fact that the founder cannot hire a professional copywriter to present the information in the right way is another drawdown. Invest in companies that have a good reputation.
Forex Draw EA is a company that we do not recommend to traders. The platform is using a martingale strategy, which we all know the benefits and disadvantages. You can be left with regrets when the company fails to meet your expectation.
Invest with reputable Forex trading software in the market. There is no need for trusting an anonymous person who has minimal insight into a trading strategy. Despite the platform availing a real Myfxbook account, it is with an unverified broker.
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