Surge Forex provides professional Forex managed account services. There are many of these on the internet and as always, they’ll make promises of how they can contribute to their clients’ financial stability.
In this list of recommended trading tools, we don’t mislead and we certainly don’t tell the community to use programs that promise riches overnight.
By the way, the first thing you’ll notice from Surge Forex is that their website looks more like that of a vendor selling an expert advisor or Forex robot. They even explain that they are developers of “automated trading strategies based on algorithmic trading rules.”
It really doesn’t seem like the developers of the service trades on your behalf, but robots do instead which is why it’s a bit confusing that this is advertised as managed account trading. The service is located at 52-54 Broadwick Street, Soho, London, W1F 7AH.
Outside of the address, the vendor provides no information about who they are and what type of trading experience they have in the Forex marketplace. They should certainly provide more transparency when it comes to these aspects, especially if they want us to shell out €299 for their robots. These issues have also been raised by this review of the Surge Forex team and so we will be recapping on what has just been said.
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The Surge Forex team advertise their services as managed account trading, when in fact they are offering two Forex robots, which is something entirely different. That being said, there are 3 reasons why they feel that traders should sign up with their services.
These reasons include their advanced artificial intelligence, proven strategies and the fact that traders can utilize the strategies for free that you sign up with a brokerage account through the vendor. It’s quite clear that the vendor is providing EA, it has in their how it works section they tell us that all we have to do is purchase the EA, install it on the platform, adjust the risk settings and start trading. We still aren’t sure why the vendor is trying to hide fact that this is a Forex robot service, but they certainly won’t qualify for best Forex robot status if they are trying to hide anything from the community.
There are two different Surge Forex expert advisors available, and they both have their own trading approach. Firstly, the Infinium strategy is a hedging strategy that “is used by many traders, but also professional money managers throughout the world.” This system can be traded with any asset available, and uses multiple indicators to determine grid trading entries.
There is no detailed explanation about this strategy. The second approach, is the Stealth strategy, which uses a “100% price action strategy” that includes take profit, stop loss, trailing stop and money management. This approach is advertised as a semi automated that energy, which means traders have to “keep an eye on their screen.”
We aren’t exactly sure what this means, but we assume this means that you have to manually intervene from time to time when the robot is making poor decisions. Neither of the robots or “strategies” as they call them really have much detail in terms of their overall trading methodologies. They loosely mentioned hedging, grid trading at price action but never really tell us how they work specifically. This is a common problem in the Forex robot marketplace as you can see in our recent reviews of Forex Scalper EA, Signal2Forex and BF Scalper Pro.
Both robots cost €299 for a single license, €399 for 2 licenses and €525 for 3 licenses. All packages come with support for installation, lifetime updates and are compatible with both meta-trader 4/5. A virtual private server is recommended by the vendor for traders interested in the Infinium strategy.
This is a brand-new service, there is no real client feedback at this time, but this page will serve as an area for traders to leave their reviews from now on.
Traders can access the Surge Forex trading results on the “Strategies” page of the website. On this page, the vendor gives us access to a couple FX Blue accounts for each strategy. We prefer Myfxbook at Forex Robot Nation as it’s more reliable, but we will still do a brief analysis of these accounts. The Infinium robot is showing a 10.4% gain over the course of 182 days with a win rate of 70% and an average trade length of 41.9 hours. This strategy is quite active with 7.3 trades per day, and has a decent Cumulative profit Start.
Risk reward ratio with the average win being +82.82 and the average loss being -115.91. The only strange thing about this account that we don’t exactly understand is why the balance shows that is is gone from 325,000 down to 65,000.
There doesn’t seem to be any withdrawals or explanation as to why this has happened, which is just another reason why we prefer the clarity of Myfxbook. The Stealth robot is showing a gain of 11.7% over the course of 63 days with a win rate of 91.3% and an average trade length of 3 days. This strategy is my last active with just 44 trades per day, and looks to win much smaller trades as the average win is +6.13, and the average loss -.78.
This is an effective risk reward ratio, just like the Infinium strategy. Again, the balance on this account is showing that it’s gone from 3000 down to 1000 without any real explanation either. So it’s a little confusing as to whether or not these systems are winning or not. Any clarity on this would certainly be helpful.
SurgeForex cannot be recommended to readers at this time. We find it off putting that the vendor is advertising service as a managed account service, but it’s actually a collection robots. That being said, the website is put together professionally and does look to offer some value in this community. But we’ll have to stick with these recommendations.
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