Forex Combo System Review: Myfxbook and EA Analysis
Welcome to the Forex Combo System review. The website of this trading system reveals that the software has been updated to version 6.0, and it’s optimized and improved for the latest market conditions. I am not sure whether the latest market conditions (as used in this promotional statement) means that when the conditions change, the Forex Combo system will stop working. The Forex Combo system supports 4 currency pairs and is fully backed by myfxbook.com. The vendor’s website can be found at forex-combo.com.
I am interested in reviewing the system to inform you what it is and whether the statements of the developer can be trusted. I also see that this is one of the products owned by FX Automater. They own a lot of Forex trading robots. In fact, even Forex Gold Investor belongs to them among other EAs.
The website where Forex Combo system is hosted at looks a little bit different from those which they use to host their other EAs.
We don’t know the whereabouts of this EA developer either. All I know is that they’ve been responsible for channeling a a couple of automated Forex systems in the market. With every new product, they promise massive profits. Unfortunately, their past products have not performed very well and I am fearing that this might be the case with Forex Combo System.
If you are tired of being disappointed with Forex robots that don’t live up to their promises, my advice is that you should use these trading resources. They’ll put an end to your hustles. Even if you’re a newbie in the game, these automated trading resources will be of great help.
Forex Combo System review
The FX automater team wants the trading community to believe that successful Forex traders focus on trading strategies that have been proven to deliver results as opposed to chasing silver bullets that rarely work.
They also want the community to believe that the algorithm of the Forex Combo strategy was designed with a number of in-built trading strategies for purposes of diversification which ensures efficiency in every market situation.
The Forex Combo system evaluates the market using its algorithm to uncover hidden trading opportunities and traders can also benefit from any market conditions if they use this particular system.
The trading strategy
It uses 4 different trading strategies, hence the name Forex Combo 4-in-1 system. The strategies in question include scalping, trend detection, countering trends and range detection.
The scalping strategy scans the market focusing on high success probability trades with low risk.
It also appears to work well in a small spread environment and the developer assures us that this will add to the overall performance of the Forex Combo 4-in-1 system.
Trend detection is all about using data that tells us whether a trend will be sustained in place or not. FX automater believes that successful traders make a bulk of their money from such trends.
They also claim that the Forex Combo system uses thousands of lightning fast calculations to predict market correction at the right instance.
They want the community to know that this way, we can catch market reversals which usually create large spread opportunities.
Lastly, they claim that the Forex Combo 4-in-1 system uses its algorithm to detect a non-trending market so it can adjust its strategy accordingly.
Well, this is quite informative as far as the trading strategy of this trading system is concerned. But can we actually convert this paper profit to real money?
I see that the team is throwing figures around claiming that this is the most profitable of Forex robots.
For instance, they claim that in 11 years, a trader who uses Forex Combo system will have earned over $ 275 372. Maybe it’s time to analyze Forex combo system myfxbook results to find answers.
For the price of $147, you’ll get 5 licenses for 5 live accounts. This is the same price that quality Forex robots are retailing for. Take a look on this page.
Forex Combo system myfxbook performance
The developer provides 2 myfxbook accounts and in both instances, I was able to clearly see that these were in demo accounts as opposed to real money accounts.
I prefer developers who put their money where their mouth is because it shows they are confident about their products.
But let’s review the two myfxbook accounts and see whether this can be something of interest.
One of their myfxbook accounts is labeled Forex Combo System EURCAD and I can see that returns are +15 only.
This myfxbook account has tracked results since August 2018. It produces 1.19% returns per month and based on these statistics, we can figure out that for this particular Forex pair (trading with a balance of $1,000), we would have earned $150 in 12 months. Of course when you deduct broker fees and so on, you end up with much less.
Now, if this is what we can earn in 1 year, then it simply means that for you to earn more in a short time, you must be able to invest a lot of money like $50,000 and above. Otherwise, a deposit of $1,000 will only make you peanuts.
You might want to deposit that $1,000 with this Crypto trading service because you stand a better chance of earning 25% per month. This is a lot of money in 12 months.
The second myfxbook is called Forex Combo System 500 and is hosted by Alpari broker. This account was started in February 2017 and the account has grown by +250% out of a deposit of $350.
Monthly returns is about +4% which is ok. However, draw down is 26% which is a very bad sign.
Also, we see that within a period of 2 and a half years, profits are just $882. This is why I recommend that Forex traders should start diversifying their portfolio by investing in a diverse range of assets including Cryptocurrencies. This service will give you 25% per month consistently until you decide that you don’t want any more money. You can get started with 0.1 Bitcoin only.
Furthermore, this particular Forex Combo system Myfxbook account uses custom dates, meaning that the developer is trying to hide a period of losses. Take note of that.
Forex Combo system reviews
Many traders on FPA forum have stated that this EA is not at par with the performance shown on their sales page. In fact, it scores a 2 star meaning that the performance is not really what you can expect.
Apart from the discouraging reviews and the fact that my analysis shows that the Forex robot is not performing as expected, I will not add it into my list of the best automated trading resources to use this year. If you have had an experience with the Forex Combo system, please leave your review here as well.