Forex Fury Review: Don’t Buy EA Yet, Pay Attention to Myfxbook

| | 0 Comments

Welcome to the Forex Fury review. This EA is quite popular in the Forex market place.

There are quite a handful of positive Forex Fury reviews on forums like Forex Peace Army which look suspicious.

In fact, due to the suspicious nature of these overwhelmingly positive reviews, the Forex Peace Army moderators flagged down one specific reviewer who claimed to be an educated Forex trader and a trainer as well.

Looking for Forex signals with a win rate of up to 75%? Find out here.

Between August and September of 2016, multiple Forex Fury reviews appeared on the FPA forum which were considered suspicious and even fake.

Forex Fury reviews

The team at Forexfury.com own a domain and and expert advisor called ForexSteam.com. 

While the Forex Fury EA website seems to be legitimate and professional in terms of how they make their presentation to their visitors, there are quite a few elements that fall out of place.

The ForexFury team claims that the EA has a 93% win rate track record.

This statement cannot be verified from any of their myfxbook accounts.

Additionally, the Forex Fury EA sales page claims that they have 40 years of collective experience in the industry and 5 years in trading software development.

Can this vendor be trusted? Should we believe the numbers or assume that this EA is yet another scam in the Forex market place?

To cut the chase and save you from reading the entire review, consider picking these highly recommended Forex robots.

Forex Fury review

The most attractive element of the Forex Fury website is the fiery theme which gives the impression that this Forex EA is so powerful that it will tackle all challenges that the Forex market place throws at you.

The fact that this developer received feedback in 2016 means that they have been around for quite some time.

That is a good sign that the developer is somehow reliable. But it’s not proof that what they sell you will work.

They also claim that they have the fastest response rate in the industry if you contact them between 10AM EST – 2AM EST.

As you scroll down the homepage, you will see a few endorsement badges from popular industry brands, and FPA is one of them.

These badges should not intimidate you or make you think that the Forex Fury EA is the best thing that ever happened in the world after a slice of bread.

Having said that, I am concerned with the developer’s myfxbook performance and the cherry-picked Forex Peace Army reviews.

I say cherry-picked because the developer has intentionally excluded the negative ones and only published screenshots of positive ones.

About the developer of ForexFury EA

The name of this developer is Avada. They claim that their mission is to see us succeeding at whatever cost.

Avada believes that after years of coding, they have finally achieved the goal of creating a winning automated Forex system.

Of course when a developer makes such a statement, they are setting standard for themselves. Traders on the other hand expect nothing less from them.

This team does not introduce themselves individually, hence we don’t know who are the members of Avada.

Forex Fury Review – quick breakdown of the EA’s features

The ForexFury expert advisor is optimized for the GBPUSD pair. The developer has also posted links for the various set files on the official site.

This robot is an MT4 EA. Developer claims that it will take us 5 minutes to install and start trading day and night.

The EA takes between 5-10 trades a day, and can be tested and optimized for various pairs i.e. USDJPY, USDCHF, GBPUSD, USDCAD and XAUUSD.

In addition to this, the developer tells us that we can optimize the Forex Fury with high performance settings.

There are two licenses available for this robot. These include Gold and Diamond.

Both licenses can be acquired as a one off payment of $229.99 or $439.99.

buy Forex Fury ea

The only difference between the two licenses is that Diamond allows traders to use the Forex Fury EA on two live accounts while Gold only allows 1 live account.

Both licenses allow testing in unlimited demo accounts, which is a good thing because many developers don’t allow this kind of thing.

And of course they are promising us high performance setting for both licenses but are not elaborating further on what these settings are and what kind of returns we can achieve.

Forex Fury Review – myfxbook

I am more interested to see how the Forex Fury has been performing all this while.

With all the marketing declarations which this developer is making on the sales page, it’s only expedient that they should at least back their promises with verified records of outstanding performance.

One of the things I am going to look at in their myfxbook accounts is the 93% win rate track record.

The first Forex Fury myfxbook account that deserves to be analyzed is for XAUUSD pair.

The account shows a positive gain of +15% and was created in August 2018.

However, the Forex Fury records a relatively high draw down of 24.87%. In addition to this, the account has only been running for a few weeks.

So that means we don’t have an accurate representation of long term performance yet.

Keep in mind that this is a demo myfxbook account as opposed to a real one. I can’t understand why the developer chose this route.

The second myfxbook account of interest is for monitoring the USDCAD pair. This is still a demo account.

The overall gain is +11.83% and draw down is just at 1.58%. These are remarkable results at face value.

However, this account too was created on August 2018. We’d like to monitor this account for the next 6 months to see what will happen.

If these results are maintained in the long term, then perhaps the Forex Fury EA will be considered one of the best Forex robots for the USDCAD pair.

The other myfxbook account for the GBPUSD pair is a live one. The account was created in October 2017, and has since gained +13.47% with an overall draw down of 2.97%.

Forex Fury Myfxbook

Again, these results are outstanding. But the gains are quite minimal as from October 2017 to September 2018, the Forex Fury EA only gained +13.47%.

From what I can see, the EA is safe to use at low risk settings. However, it is not good for trading with moderate to high risk setting.

It’s therefore a question of whether you are willing to be patient enough to earn a 10% annual return rather than settling for 30 or 40% with these Forex robots.

Also, let’s not forget that the developer says their Forex robot has a 93% win rate. Throughout the performance record of their myfxbook accounts, I never saw any numbers that suggested that performance was close to the alleged 93% win rate.

Forex Fury reviews

This EA has received positive response from people who appear to be legitimate Forex traders.

However, the fact that these Forex Fury reviews are suspicious and have been flagged means that we can’t really trust the developer.

The other thing is that the developer seems to have hired some fake reviews to boost their seemingly good ratings.

Forex Fury fpa

Therefore, while there are many positive reviews and a few negative ones, I strongly believe that this feedback is not to be taken with 100% trust as the information can be misleading.

For example, Forex Peace Army moderators were able to point out that one reviewer was pretending to be from Dubai when he was indeed commenting from Canada, where one of the developers for Forex Fury EA appear to be based at.

Forex Fury EA Review – the conclusion

Generally speaking, I like the kind of effort that this developer has invested in showing us their myfxbook performance, both in the demo accounts and one live account.

It is something that many scams like the Euro Pro Scalper, Forex Robot Trader, Forex Robot Academy and many others don’t do.

What I do not like is the fact that the returns for GBPUSD pair are quite minimal, which may not appeal to investors looking for lets say 20% or more annual returns.

The other issue is that Avada has been accused of manipulating reviews on major industry forums. I suspect they hire people to write these fake reviews.

Ultimately, it boils down to whether this automated trading system called the Forex Fury EA can generate profits on a consistent basis.

There is an element of dishonesty in how they handle reviews and customer feedback. So based on this alone, I would be scared to rush into purchasing a license.

And of course I am also monitoring their newer myfxbook accounts too. It is hard to tell whether those accounts will crash in the near future.