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Forex Quant EA Review – Scam or Best Expert Advisor?

Forex Quant EA Review – Scam or Best Expert Advisor?

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In this review, we shall take a look at a new Forex robot known as Forex Quant EA. According to these developers, this EA is as a result of tapping into the so-called genius neural net development strategy.

The developer also says that Forex Quant EA is successful due to its Dynamic Trading Logic, unique protection mechanism from price reversals, profit protection system and a self-updating algorithm that never stops learning.

If these things are allegedly combined together, the Forex Quant EA is supposed to be the best expert advisor out there.

Can these claims be substantiated with evidence?

Of course these statements sound like mumbo-jumbo because the average Joe cannot understand what is going on here.

We therefore want to dig deeper to find out if these highly technical guys can give us an elaborate answer with proof that this thing can make profits.

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Forex Quant EA review

Currently, the website where Forex Quant EA is hosted has no information pertaining to the owner of this robot as well as their location or residence.

Secondly, it is not yet clear whether or not the makers of Forex Quant EA have ever traded Forex successfully.

The website says that this robot was created by ”expert” traders with 8 years of experience in the industry. During this time, they have been optimizing it to create a truly magical trading software.

They claim that the strategy that Forex Quant EA uses has been tested on a live account and that even if you want to see results, they are available on their verified myfxbook account.

Of course you can never trust these vendors. We can never be sure of their supposed track record when we don’t even know their names yet.

Also, the claims which they make concerning the profitability of this robot automatically raise eyebrows.

For instance, in one part of this website, the developer states that Forex Quant EA has the power to multiply your account balance, and that once you set it up, everything will work on auto-pilot.

The most disturbing truth here is that this developer is anonymous and new to the business, yet they want us to believe that they’ve been trading and testing this software for the last 8 years.

But hopefully in the future, this developer shall boost our confidence by introducing themselves first before telling us what they have done. As it is now, we cannot trust their claims or intentions. We need an active trading performance as well as more information about the developer.

Like other expert advisors in the market, Forex Quant EA is supposed to utilize intelligent money management techniques to preserve your capital.

It’s supposed to trade multiple currencies for your convenience. And most importantly, it’s supposed to use a weird algorithm dubbed Nama algorithm to observe the history of the market, thus making decisions accordingly.

The sales page informs us that this system has over 5,000 lines of codes. Indeed this must be a sophisticated expert advisor, right? You might think so even if that is not the case.

Another thing that this developer promises us is that Forex Quant EA trades on a frequent basis, or 24/5 a week. That’s interesting because good trade setups never show up every day of the week. If you want to trade with precision, then the only way to do so is to avoid over-trading since this increases your chances of taking wrong trades.

In fact, the more you trade, the more your precision decreases. Apparently, Forex Quant EA can trade every day and still yield good profits because it is very precise.

Generally speaking, this is a sales page that raises a few points here and there. However, after going through it, you will realize that this developer is not giving an in-depth explanation about the trading logic of this expert advisor.

Forex Quant EA website

In short, the trading logic for the Forex Quant EA is a mystery. We therefore have to rely on the so-called live performance or result to figure it out. Perhaps this could provide some more clarity on the issue.

Forex Quant EA Breakdown

This robot is most definitely a scalping system because it trades on the 15 minute time frame and opens multiple trades during the week.

As far as testing is concerned, we can see that the developer tried testing it with two pairs — EURUSD and GBPUSD.

However, this testing is not accompanied by a verified myfxbook account. Instead, we just have screenshots showing the equity curve as well as account statements of when trades were opened and closed.

The problem with this is that you can never tell whether these results are authentic or not. It is simply impossible to form judgement based on screenshots that don’t provide a link back to their myfxbook account (where the alleged testing took place).

So for the price of $199, you will get access to Forex Quant EA in addition to a bonus EA which has been dubbed the Asian Scalper.

This bonus trading robot uses the popular range breakout strategy to trade the markets that are quiet.

This system too does not have a live trading performance. But it does have back tested results. Again, the problem with back-tested results is that they don’t provide an accurate picture of what the robot is able to do when put to task. This developer would have done a good job if they provided forward-tested results instead.

Myfxbook account

Finally, there is a myfxbook account whose trading privileges has not been verified.

Etbot

Forex Quant EA myfxbook

At the time of writing this review, Forex Quant EA had gained 42% in returns. Draw down was slightly above 20%.

Generally speaking, this sample size is very small to work with. It is impossible to say what will happen with this robot in the future.

We would have appreciated working with a large data sample instead. Therefore, as of now, it is still too early to judge the ultimate long term results of the Forex Quant EA.

Also, according to this myfxbook account, the average length of trades was 15 hours.

How is that possible if this is a scalping system? Honestly, we don’t know the answer to this question.

Anyway, before we can start considering Forex Quant EA, we need to have at least 3 months of active trading to see if the draw down will increase significantly.

You cannot trust new systems just because their first two weeks of testing was profitable.

Other things which you need to take note of

A money back guarantee is in place with every sale of the Forex Quant EA. However, there is no telling whether this developer will honor their policy by actually refunding those who will not be pleased by the results of this robot.

Also, since this developer is anonymous, most people would be scared to send money to their bank accounts in the name of purchasing Forex Quant EA. It just doesn’t work.

Another thing is that we are not so sure of the testimonials which we are seeing on this website. Are these testimonials real or fabricated? Honestly, it’s hard to figure out.

Our best advice for you

At this point in time, we cannot call this system a scam yet. We are still waiting to see if it will maintain the 3-week performance as is right now. Meanwhile, you can use these Forex products because at least we are sure about them.

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One Reply to “Forex Quant EA Review – Scam or Best Expert Advisor?”

  1. Aqui esta un historico de operaciones del sistema, por favor pueden verific arlo y continuan su validación. La cuenta esta en FXBLUE y dice REAL. Un abrazo!

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