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Expert Advisors Reviews

Long Vision EA Review - Is it scam or good forex system?

The Long Vision EA is a portfolio of automated systems, which trade the currency markets. The system is being offered by a company called Feycox Development S.L. In this review, we will try to get a better picture of its performance.


Strategy



As we mentioned in the beginning, the Long Vision EA isn’t actually a single robot. It is an account which runs multiple strategies. A quick look at their recent trades proves the developers’ claims:





 

Trading appears relatively chaotic, but keep in mind these charts are based on hourly and some of the strategies may be trading lower timeframes. That being said the average trade length is slightly under 11 hours, so this is by no means a scalping portfolio. Furthermore, as far as we can tell no hedging martingale or grids are involved. This is a huge positive, as these types of systems can be very dangerous. If you are not familiar with the risks involved check out this post.



While all of this is relatively nice, we must also check if some of the robots, which are part of the system are Asian Scalpers. For those of you who don’t know, these types of algos trade the relatively calm market hours, during the early Asian session. While they make substantial profits on paper, in reality they are very broker dependent. Factors such as slippage, can have a dramatic impact on the results. Here is the hourly distribution chart:





 

While there are a serious amount of trades being executed around the London and New York opens, the same can be said for the latter part of the day – the US close and beginning of the Asian session. We can conclude that at least some of the trading is done in this rather unfavorable manner.



Historical Performance



The Long Vision system’s performance is being tracked at MyFxBook. The developers have set up an account with ActivTrades, which has been running since 2014. That being the case, we have a couple of issues with this account, most notably the number of deposits and withdrawals which have been made. They are quite frequent and this makes the calculations on the returns ineffective. Here is a look at the growth chart:





In slightly more than three and a half years the system has managed to gain 190%. Again, we are not certain of the accuracy of this number, due to the high number of non-trading transfers made.



On the other hand the Long Vison’s drawdown is fairly low, staying consistently under 15%:





This gives the impression of stability, when compared to most Expert Advisors.

The average pips per trade value of the Long Vison system is 4.7. This value is in the middle of our guidelines – we don’t recommend strategies with an expectancy of under 2 pips/trade, while 5 is a more solid level to consider. As an example the Inertia Trader scores an amazing 10.3. This value represents how much you should expect to make on average on every future trade it makes.



Pricing



The Long Vison system is not being sold as a standalone product. The team behind the system operates an MAM account, which sends the signals directly to followers of the system. The fees, charged by the company are a 30% performance fee (i.e. 30% of the profit), charged on a monthly basis) as well as a 0.2 pip widening of the spread. These fees are relatively high and the spread mark-up in particular can be cause a conflict of interest (the company will profit if the systems simply makes a substantial number of trades, regardless of the results). Furthermore, the minimum investment is € !0,000, which is a relatively high entry bar.



Bottom line



The Long Vison system is a portfolio, which runs multiple trading algorithms. There isn’t much information on the strategies behind them, but we believe there is no martingale, hedging or grids. On the other hand a bit of early Asian session is present, which makes the system broker dependent. While this may be considered as dangerous, this generally feels like a low-risk portfolio, given its very low drawdown. On the other hand, the presentation of the system and the single way you can invest in it are rather disappointing. We believe alternative methods to hop in and a MyFxBook account without so many non-trading transfers will do the system more justice.
 

TAGS: long vision  long vision ea  long vision review  long vision scam  Feycox review  Feycox scam 
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