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Forex Kingle EA Review: A Forex Robot and a Scam?

Forex Kingle EA Review: A Forex Robot and a Scam?

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Many companies promise to provide the best Forex trading robot in the market. Fore Kingle EA is yet another one of these companies. Unfortunately, most of these companies do not deliver on what they promise.  That is why you need to do thorough research to verify that a company is worth investing in.

Forex Kingle EA welcomes any investor that wants to be part of their system. They claim that you do not need any experience to use their product. Further, they promise to make clients massive profits from the Forex market.

The company is promising to make clients 70% continuous profits. However, they do not say whether this is per month, per year, or lifetime profits. Many traders will believe these returns are for every month.

In that case, this claim is outrageous. The Forex space is very fierce and goes silent for lengthy periods. Hence, it is hard to plan for any kind of return.

This certainly raises a red flag about the company. Such companies promise high returns to attract unsuspecting investors into purchasing their products.

Eventually, you realize the software is not as reliable as advertised. Only use the market’s top Forex robots that have proven to work for a long time. That is the only way you can any returns in Forex. You only need to be patient.

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Forex Kingle EA Review

Forex Kingle EA vows to deliver clients a reliable and efficient Forex trading robot. They claim that their website performs best with two currency pairs, GBPUSD and EURUSD.

Forex Kingle EA Review, Forex Kingle EA Platform

The developers of this Forex robot are supposedly experts who have been in the Forex space for many years. However, this claim is not verifiable. The website does not feature any information on the trading history of the developers.

This is definitely a cause of concern. The lack of transparency is shared with companies that cannot deliver on what they promise. Legitimate companies do not see the need to conceal critical information from investors.

Moreover, there are signs that this company is misleading investors. They want traders to send their trading statements each week. They further claim that whoever does not send statements will not have the right to purchase a license.

We suspect they are tricking customers into thinking this is a premium forex robot. That way, customers will believe the promise of unrealistically high returns.

There are two main investment plans the company features. The first plan cost $977. This plan gives you one license for a live and demo account. The second plan costs $4997. This plan gives you licenses for seven live and demo trading accounts.

These are high prices to pay and get nothing in return. We hope the company can back this up with an impressive performance record.

On the other hand, the company claims they are ideal for all ranges of traders. But, they do not provide any training materials to get clients oriented to their platform. We figure this is very important for novice traders.

Trading Strategy

Forex Kingle EA does not provide any details on the trading strategy their Forex robot uses. They only tell clients that their robot uses scalping in trading. This is not enough, especially from a company that promises such high returns.

Investors always want to know the approaches that a robot uses to earn them money. That way, they can pick whatever strategy that best fits their portfolio. Moreover, clients are aware of the various techniques that exist in the market. They should have the opportunity to select the best fit for their accounts.

Therefore, the company should provide precise details of the market setups the robot looks out for before opening a trade position. Otherwise, we cannot trust them to deliver what they promise.

Developers and Customer Service

The developers of this Forex robot are not trustworthy because they operate the company in full secrecy. They do not give details on who they are or the physical address of their headquarters.

This is a huge red flag. It is a common characteristic of companies that are not reliable. Such people conceal their identities to avoid being tracked down by the law or unsatisfied customers. You should always ensure you invest with companies that are run by identifiable people. There are too many risks involved in investing in mysterious people on the Internet.

In terms of customer support, this company does not provide a reliable means to contact them. They vow to provide superb customer support to their clients. However, they only provide an email to contact them through. Sadly, emails can go unanswered for days.

Moreover, the company does not say how long it takes them to respond to customer queries. This means there is no guarantee that you will get a reply from them.

Forex Kingle EA Performance Record

The best way a company can prove they are legitimate is by providing a reliable record of their past performance. Luckily, the company offers five different Myfxbook trading accounts.

Two of the accounts are connected to live accounts, while the other three are for demo accounts.

The two real accounts only provide a track record of a single month. The sample is from November of 2017. The accounts show a gain of 10.8% and 12%. However, it is not clear why the accounts stopped trading right after that.

Moreover, other accounts show the same phenomenon. The company does not say why the accounts stop trading after only one month.

Trading results for one moth are simply not enough to assess the full range of a product. Positive results from such a short period could be because of luck and not perfect execution. Therefore, the company needs to provide a larger sample of trading performances.

Moreover, past performance is no guarantee for future performance. A company that stays active in Forex trading always has the edge. This is because the company is able to stay up to date with trading strategies and market setups.

Is Forex Kingle EA Trustworthy?

Even though this company seems legit, they do have a few loopholes they need to address before we can fully trust them. The company assures clients very high returns while providing a small sample of trading performance. Moreover, the accounts provided are now idle. We feel like this company is concealing some critical details from their clients.

Furthermore, we do not know who is operating this company. The website is faceless and lacks a social media presence. Additionally, they do not say where they work. No legitimate company feels the need to conceal the identities of its team members.

Under these conditions, it is easier to get scammed than it is to make any real money. The authentic look the company poses will convince novice traders to invest with them right away. However, at this time, we cannot recommend this company to you.

Final Verdict

The market is full of companies only after investors’ money. They show little interest in customer satisfaction but want people to invest their hard-earned cash. Such companies cannot be trusted to deliver on what they promise.

Luckily, there are legitimate companies that offer better services and have proven to work for a long time. To save yourself some trouble, use only the best Forex trading robots that exist in the market, and this is the only way you can be sure to make real returns in the Forex space.

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3 Replies to “Forex Kingle EA Review: A Forex Robot and a Scam?”

  1. I have earn 40 USD per week. This is my first week. But anyway I think this is good. But who knows. Let’s see

    1. Update .. I am Nishad, The robot going -87 USD floating money. But keep earning 10 USD per day. I don’t know how this will end. I will give updates soon.

  2. kingle scapler is good making profit but only in a range market on its default settings. When market is trending I turn it off and just trade manually. I’ve lost lots of money due to this EA for turning it on at the wrong time. try to study its execution and sooner or later you can optimized it to make it a profitable EA.

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