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Forex In Control Review: is this EA a Scam?

Forex In Control Review: is this EA a Scam?

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Forex In Control is a Forex trading EA. The company allegedly can place a trade for their traders automatically.

The company has upgraded the software, and they are now calling it the Forex InControl reborn. It has various features like new accelerator mode. Additionally, it can control the drawdown.

Moreover, you can trade on two currencies and diversify on risks. The company was launched in October 2013. The domain is expected to expire in the same month in the year 2020. According to Alexa.com, forex-incontrol.com has global traffic of 1,378,640.

The company presents its Myfxbook live trading account for everyone to see how they are performing. The platform claims that its EA is reliable and profitable. Forex In Control claims that they have a way of controlling the losses.

The software will help traders to maximize on the drawdown that they can expect. Hence, there is no way you are going to lose more funds than expected. The trading EA sets a stop loss for all orders.

Therefore, you will never lose more amount than vendor projects. Forex In Control claims that the only focus with two currency pairs. The algorithm that platform use is compatible with several pairs.

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Forex In Control Review, Forex-incontrol.com Platform

However, the company chooses to diversify for them to optimize o profits. Trading on only two pairs will limit drawdown possibility. Hence investors will be able to expand on risks and benefits.

Forex InControl Review

The company brags of having a trading history of +14. However, as mentioned earlier, the Whois data proves otherwise. The company further states that they have backtested results of various currencies.

The platform claims that their ability does to this has enabled investors to trust them. Moreover, they can survive anything in the Forex industry. It also proves that the software is reliable and profitable. Forex In Control claims that their software is a must-have.

There are better alternatives in the industry that you can optimize. The following Forex trading EA is more transparent. They avail of their location, founder, and the team behind the software. You will have all the information you need to help you make the best judgment.

It is allegedly trading EA can work individually, or you can combine it with other trading software. The system will only trade at favorable duration. It can work for both experienced and novice traders. You do not necessarily need to have experience.

The software is easy to set up, uses a standard, conservative, and aggressive trading strategy. The update is free. Additionally, the firm claims they have a 30-day refund policy. However, this appears not to be the case as a trader accuses them of not fulfilling their promise.

The trading EA comes with two packages, and you can purchase a lifetime license without the accelerator mode for $270. It comes with one single account. The software with the accelerator mode goes for $310.

Ownership

The founder of this trading software is someone that we don’t know. No data shows who they are or the qualifications that the poses. It is a red flag that we cannot take lightly. Although the firm being in the market for some time, let investors know their funds are in safe hands is essential.

Trading Results and Strategy

The company does not state the strategy that it is using to trade. It is not professional on their part, and they should let clients know what they are utilizing. And this will help them to make an informed decision.

Forex In Control is trading two currency pairs; EURGBP and AUDUSD. The company avails two trading performance, and the results have been backtested for the last 14 years. The other backtested results are fours old.

The company does not frequently trade like another trading EA in the industry. Their average winning rate is at 35 up to 65 pips. The two currencies pair that the platform is trading has a winning percentage of 75% up to 81%.

The drawdown that they show is worrisome, and many might not see the platform as favorable. It has a reduction of 38%; the risk-reward ratio is something we cannot fail to emphasize.

Customer Support

To contact Forex In Control, you will have to fill out a contact form with your query or question. The company will reach back to you. A good investment venture should have excellent customer support that strives to resolve the issue of their clients on time.

The company should avail of multiple methods that investors can use in case there is an issue. Since they do not have much reputation on the market, we cannot comment on the matter regarding their response rate.

The company is also not regulated by any financial body in the market. They are operating on their own accord, and you should be cautious. Investors’ funds are not secure in the hands of such an entity.

Investors Feedback

We managed to come across one negative review from one trader who has engaged with the company. The clients warn potential investors who might be tempted to purchase the bot to keep off.

He terms the platform as a scam after he lost his money. The firm is being accused of failing to disclose their trading strategy. After purchasing a copy, he realized they were using a Grid martingale method.

We all know that one wrong move in the market would end up making huge losses.  The company clarifies that the drawdown that you can expect is around 35%. There is no chance you can recover the amount.

The refund policy that Forex In Control claims to be offering after one month is false. They will not give your money back when their system fails to meet the required expectation. The fact that there are no other reviews or feedback increases suspicion. The company being in the market for 14 years as they claim yet no one seems interested in their services raises red flags.

Red Flag with Forex InControl

The company is operating anonymously. They only avail the features of their software. However, the strategy that they are incorporating is not stated. We had to learn from one of their clients that they are using a martingale strategy.

The method is highly risky, and investors have the right to know what they are getting themselves into. The area that Forex In Control is based on is also not verified. You need to be very cautious with this system as there are several things that they need to clarify.

Avail a suitable communication must mean. Putting its clients as their top priority would help improve their reputation. The software is costly and might not be affordable to every trader in the market.

Final Verdict

Forex In Control is an entity that has mixed reactions from those that have used the software. The company. The system only trades at particular duration. It is not consistent, and some might find this as a shortcoming.

Additionally, traders who love trading multiple pairs will find Forex In Control not ideal. You can utilize this Forex trading software in the market. They will help you attain your desired outcome at favorable prices.

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