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Expert Advisors Reviews

Forex Fast Profit EA: Gambling for Gain Growth

Sep 26 2013
Once again we're exploring a dangerous, gambling expert advisor: this time that's the Forex Fast Profit EA, developed by the FX Magic Soft team. The robot has delivered some strong gains for two months of trading on a real account with Forex4you and we'll take a deeper look into what stands behind this success. We are exploring the trading of the robot's version with aggressive settings: of course, you may opt for the more conservative settings.
Strategy: Grid and Martingale
The robot trades only the GBP/USD pair using the smallest timeframe of one minute (M1), although the developers claim that the EA is adaptive and makes use of any timeframe. The machine builds grids of trades, which it then closes simultaneously when a desired take-profit level is reached. The difference between the open prices of the trades in a grid is fixed, usually at 5 pips. Moreover, the EA raises the trade contract size of each next trade if the preceding incurs a loss of certain size – that's the Martingale method in action. 
You can see an illustration of this strategy in the picture below.
Photo credit: Myfxbook.
If you've read some of our previous reviews of dangerous bots, then perhaps this strategy and even the photo presented above would be familiar to you. This is partially due to the fact that the grid/Martingale strategy is rather popular. But if I have to point to an EA, whose strategy resembles the one of Forex Fast Profit the most, that would be the FX Grid Robot. And the latter has at least one obvious advantage over Forex Fast Profit – it's free.
You can purchase the Forex Fast Profit from the designated website for the sum of $219 (there is a promotion currently), and let's face it that the sum is not a small one for a risk-plagued machine. On a positive note, there is a 30-day money back guarantee in case you change your mind. 
Performance: Very High Gains
For the short time of its activity (about two months), the EA has generated gains of 65%, which is quite impressive. And the balance chart shows an equity curve that is rising, which is something that would suit the taste of those who enjoy sharp increases in wealth.
Photo credit: Myfxbook
On the downside, the drawdown is at a risky level of 44%, which is a bit high given the brief period of time during which it was accumulated. The return-to-drawdown ratio is at 1.5, which is acceptable, meaning that we can expect some decent return in exchange for our investments.
Average pips per trade are negative, as the Martingale method is involved. But still, regardless of the negative balance in pips, the balance in dollars is positive, and you are set to gain something.
Verdict: Suitable for Risk Lovers
Risk lovers would enjoy a robot like the Forex Fast Profit – it's very active and can lead to some heavy profits in very short periods of time. Of course, trading on a cent account and the regular withdrawal of profits is recommended.
TAGS: Forex Fast Profit EA  expert advisor  ea  martingale  grid  review 
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
UK, Bulgaria FCA, FSC Web €29 Review Website
Australia ASIC MT4, MT5,
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
$200 Review Website
UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
$100 Review Website

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