The developer of this robot is selling it at forex21.com which appears to be their official website where they sell other trading products as well. This developer has designed a couple of trading systems before which are not receiving many positive reviews. The domain Forex21.com was formerly ForexEAsystems.com. Perhaps they decided to change the domain or redirect the old one to the new one to cover up their negative reviews which were seemingly building up at a faster pace than you can imagine.
While the Forex Force EA sounds like a decent product, the reality could be different. So we want to see if this EA really makes money as claimed on the sales page. There are lots of claims which the vendor is making on their website. We are actually interested in the claims which they are making. If the vendor can prove that this EA is the best as portrayed on the sales page, we will actually consider recommending it the way we have done with these robots.
One of the most critical features of this robot is that it can adapt to changing market conditions by adjusting its trade logic, take profit, stop loss and trade size. The vendor claims that the concept of this robot has been tested since 2000 and it was able to stand the test of time despite the financial crisis which the world saw between 2000 and 2010.
The robot is based on price action trading, which is actually a valid methodology of trading given that it relies on price formation of candlesticks. But for this robot, the vendor tells us that they are using directional force and volume to make the signals quite accurate. The vendor claims that the strategy which they are using in the Forex Force EA algorithm is preferred by most professional traders because of its proven profitability in the long run.
The robot is also promoted with a lot of supposed advantages. These include the ability to consistently produce profits, ability to send trading notifications on your phone or email, ease of use and professional support.
The vendor claims that they are real traders who are focused on trading and improving the system frequently. For this robot to serve its purpose, the vendor says that traders must use reasonable risks, have realistic expectations and use the recommended set files. The vendor is putting emphasis on risk management and telling traders not to have unrealistic expectations of winning 99% of their trades. This is professional advice and we actually agree with the fact that trading should not be seen as a get rich quick scheme.
But for us to actually trust the vendor, they must prove the alleged efficiency of the Forex Force EA. We don’t just want to rely on word of mouth without seeing some evidence that this robot works.
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It’s quite interesting to see that the vendor has presented results in the most traditional of ways. They claim that this EA has gained 246% and has only experienced a draw down of 17%. It is not quite clear for how long this trading system has been trading and accumulating those gains. But to find the answer, we had to download their supposed trading statement which can be found on the homepage where Forex Force EA is sold at.
They are also presenting their strategy tester report alongside their downloadable trading results files. There is also a section labeled ”live trading results”. But those trading results aren’t live at all. We can’t click the screenshot to go to the third party statement sharing platform where these results are actually being tracked from. Besides, no one can say that this is live trading results since the image is not updating itself at all. It is just a static image. So how can this be referred to as live trading results? It certainly can’t be used as proof of trading, and this is one of the red flags that we have encountered on this website.
While the vendor has a link which can be clicked to download their alleged performance, we feel that these can be easily manipulated at will. It is quite difficult to believe these numbers if they are not on a verified myfxbook platform. So this is something we will not use as trading results. We want verified trading results and not documents that can easily be manipulated to suit the message that Forex21 is preaching.
The price of a license goes for $199. This is average considering that most Forex robots in the industry range between $100-$200. Of course there are expensive ones which are out of this price category. Generally, pricing is fair.
However, this does not mean that Forex Force EA is ideal for your needs. We will take into account the kind of reviews and feedback they are getting from their users.
These can be found on forums like FPA where former clients say that this vendor is a scammer. These reviews look genuine because everyone seems to be having a case against the vendor.Some traders have even accused this vendor of being unprofessional.
We can only say that these reviews are in line with the red flag which we already discussed in the trading results section.
Price action trading is a methodology that some of the best traders in the world use. However, this does not mean that a robot that uses price action will do any good to us if the vendor cannot prove that the robot is efficient. So stick to our recommendations here.
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