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Expert Advisors Reviews

Funnel Trader EA Review - Is it scam or good forex system?

We would like to present you the Funnel Trader EA, an automated system, which you can try for a very low price. But before we get to that, let’s take a look at the strategy behind it.
 


Strategy


 

The team which created the Funnel Trader does reveal much. Their only statement is that the system diversifies by trading different currency pairs.
 

In order to get a better understanding we have to take a look at the recent trading activity of this system. Here is a snapshot:





 

As you can see, there appears to be some form of averaging down involved with this system. While this isn’t a perfect grid or a martingale, which are very dangerous, the presence of such a factor is troubling. Additionally, position flipping (closing a long trade and opening a short one at the same time or vice versa) is also present.

 
 
 

Historical Performance




The historical performance of the Funnel Trader is being traced on a MyFxBook verified account, which is traded at FX Choice. The system has been running for about a year and a half and has managed to gain 136% on the initial investment.  Here is a look at the growth chart:

 



 

This is clearly a very smooth curve. In fact, the smoothness is rather troubling. Such systems are usually susceptible to a massive loss in a single sweep.


The drawdown chart is also very impressive:



 

 

 

The fact it has never gone above 4% makes the system appear even suspicious. In fact we believe there may be an issue with this account, and its tracking. 

 

As you can see the drawdown mentioned in the overview of the account exceeds the one shown on the charts greatly. This may be an issue on the part of MyFxBook or an attempt at account manipulation by the developer.

 

 

 

 



The Funnel Trader has achieved 2.1 pips per trade, on average. This is the system’s weakness, although it was expected, after seeing such a drawdown chart. A score off under 3 pips/trade makes a system sensitive to your choice of broker and we do not recommend trading with them. A system which would score between 3 and 5 pips/trade, like the Ninja Trader EA, is one which you should also proceed with caution.

 
 

Pricing


There are multiple subscription options for the Funnel Trader. The monthly subscription is priced at $127, while a full year only costs $497 (an impressive 67% discount). That being the case, you can sign-up for a 14-day testing period for merely $5. While this may sound like a no-brainer, be sure to check the details, as you may have to manually unsubscribe or be charged for a monthly/yearly subscription later. That being the case, the developers claim a 60-day money back guarantee.
 
 

 

Bottom line



The Funnel Trader is a system, which looks very nice on paper. In fact, it looks “too good to be true”. While the developers claim the system is hedging across different currencies, some grid-like and martingale elements are present. The system has a low expectancy (average pips per trade). The drawdown is concerning, as different parts of the tracking service indicate different results. These factors lead us to believe there may be a lot of hidden risk inherit in the Funnel Trader’s strategy. Had the developers provided more clarity, they would have possibly gained more customers.
 

TAGS: funnel trader  funnel trader ea  funnel trader review  funnel trader scam   
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
Cyprus CySec, FCA MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
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$100 Review Website
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PrimeTrader
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UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
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UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
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