Quivofx.com is a Forex software developer who creates FX robots, indicators and other trading tools with the belief that they can help traders win most trades. Quivofx claims that they are special because they are investing in algorithmic trading and also modern technology to make things easier for the average retail trader looking for automated trading solutions. This service looks like it has been quite busy developing trading tools. They’ve so far created 16 expert advisors and 18 Forex indicators.
This service was formerly known as Tradarz. We do not know why they changed their name from Tradarz to Quivofx. Most of the time when online business entities change names, it’s because they have a poor reputation and by changing names, they are hoping to clear their name and have a good standing in the ”Forex society”. We are also introduced to the owner of this operation, Yannick Deubel. He is allegedly operating from Biel/Bienne in Switzerland. There is something interesting about this developer though. You see, he has developed over 30 trading systems so far. This is in addition to mobile games which are created in his own name. It is therefore quite difficult to imagine that this guy hardly gets a rest.
Quivofx is presenting 3 ways to contact support or learn more about the service. There is an FAQ section on the site in addition to a forum that is dedicated to people who want to ask questions. Other than this, the service is presenting a contact form on their site which can be filled up and sent to them for review.
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The expert advisors created by Quivofx can be tested on demo account for free. However, to use them on a live account, a one time purchase license is needed. The website is offering a starter bundle, which consists of 13 most used EAs and indicators. Like the name suggests, this is a collection of trading tools in one package.
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The operations for each one of these EAs and indicators is quite basic. The programs are merely automated versions of trading indicators that can be found on the MT4 platform for free. Please understand that we are not against these indicators. They have been used in the Forex marketplace for quite a long time. However, you must also understand that their basic strategy does not necessarily mean that you will profit from the product if you have zero trading knowledge.
The strategy that Quivofx is using in each one of the EAs which they have bundled into this package has been explained professionally in a detailed manner. These expert advisors come with illustrations of patterns that the robots will always be looking out for in order to enter a trade. We certainly appreciate the type of transparency that this service is giving us on their sales page. This is something that is quite rare in the Forex marketplace as you can see in this review.
So, what do you get when you opt to sign up? Here’s a breakdown of the products you will receive when you make a purchase.
EA’s which trade on the 1 minute time frame and 1 hour time frames respectively. This means that the expert advisors will also trade any time frame within the confines of 1 minute and 1 hour time frames respectively. The expert advisors are going to trade all major pairs. The price of these bundles are $29 to $149.
One thing we noticed is that Quivofx is selling indicators which are priced quite fairly since all traders can afford the product if it is in the range of $29-$149. We are not talking of some outrageous prices like $500, $1000 or more.
The expert advisors are being sold depending on the type of strategy that has been incorporated in them. Clients can make a purchase based on this requirement. Quivofx has categorized these robots into basic, advanced and pro versions respectively depending with which strategy a client would want included in the robot.
As for the advanced version, clients should expect a full inverse strategy, money management, trailing stops, spread filter and break even mechanisms. The pro version includes the featured mentioned in the advanced version of the robot in addition to candle trail, martingale strategy, a trade direction tool and day and night filter.
From the description of these products, we do not think you can use them by setting and forgetting the robots. This is because the robots are equipped with many different ways to trade which require the user’s full attention at all times. This means that you can only use these expert advisor if you have a good amount of experience. Otherwise, you are going to lose money tremendously.
The person running this operation is quite transparent about their strategy and methodology. However, when it comes to their trading results, we find that they are not quite open. We were thinking that QuivoFX could easily provide these results for us to see. The problem is that they did not provide results either in demo or in real account.
It is quite a bad thing that the site is not even providing their trading statements or myfxbook accounts. These resources would have been of great help when evaluating the kind of service they offer and the viability of the service in general.
It appears that QuivoFX only wants us to make a purchase based on the strategy that they are providing and not based on trading performance. This is not a fair thing considering that there are so many good expert advisors that are showing us their strategies and also using proof of performance to sell the product in the FX marketplace. Based on this argument, we don’t see any reason as to why we should purchase a robot based on the strategy and not real performance.
Our best advice is this: although QuivoFX is quite upfront about what they do and which strategies they incorporate into their robots and indicators, trading results are lacking. And that’s a bad thing.
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