Forex In Control EA Review: Be Warned!!
Forex incontrol EA or Forex In Control if you like is priced at $220 (without accelerator mode) and $270 when the package has what they call ”the accelerator mode”.
I am actually doing this Forex in Control review for the sake of Campforex.com readers who wish to trade using a robot rather than learning what it takes to become a successful trader.
I have spared some time, looked at the website where Forex In Control EA is hosted at.
I have taken note of a few things as far as the viability of this Forex robot is concerned.
One is that Forex In Control has allegedly been designed to cater for the needs of both experienced and inexperienced Forex traders.
In the improved version, they’ve even added what I just mentioned in the first paragraph of this review — the Accelerator mode.
Therefore, with such prices to pay for a Forex robot, it’s important that we get facts right about the EA before anyone can spend their money.
Forex in Control Reborn Review
In the latest update of the Forex in Control Reborn EA, we find the developer touting 4 aspects of the robot which allegedly makes the product viable to trade with.
Of particular interest is the Control Drawdown feature which allegedly lets traders minimize risks so that only a reasonable amount of dollars can be risked per trade.
The developer of this robot goes ahead to state that Forex InControl EA has an automatic stop-loss feature which is ideal because it goes along way into making sure that trades are controlled with defined stops.
The other feature worth mentioning is that this robot can only trade two pairs, AUDUSD and EURGBP. The software apparently works best with these pairs compared to the other trading instruments in the Forex market.
The developer also shows us some back-tested results which are allegedly dating back to 14 and 15 years ago.
In those back-tests, we see both pairs being tested and performing quite well.
Now, when I see that a developer is only working with two pairs, I tend to believe that they must be having a strategy which they have tested for quite some time.
Therefore, I would want to believe that Forex In Control EA is actually a robot that has been tested in accordance with a strategy that this developer thinks will yield the most profit.
On the website, there is also a section labeled ”risks and profits”. In this section, the developer says that the two currency pairs can be traded while limiting draw down separately in those two pairs.
This is allegedly going to diversify profits as well as risks, thus allowing Forex traders to make stable profits while risking very little.
When I analyzed this part, it didn’t make any sense because the developer was not able to explain how exactly they intended to achieve this purpose on the two pairs.
Forex In Control Reborn EA and features
I have noticed a few things missing on their website.
The developer has not mentioned their strategy, and neither have they told us their most preferred time frame for trading the two currency pairs.
But of course they’ve told us that this robot goes for $220 (when you purchase the regular version and $270 (when you purchase the version with the”accelerator mode”).
Myfxbook Trading results of the Forex in Control Reborn EA
This developer is showing the software test results when the accelerator mode is switched on and off respectively.
In the first two results, we see that they back-tested AUDUSD for 14 years and EURGBP for 15 years.
The projected results are really impressive. But we should not rely heavily on back-tests these days especially when Myfxbook has a feature that tracks Forex robot performance in real time.
The other trading results show the two pairs and their performance in 4 years.
The developer of the Forex InControl EA has ensured that they are showcasing results when accelerator mode is switched off and when the accelerator mode is switched on.
When the accelerator is off, the equity curve is gentle and steadily climbing. However, when it is switched on, the equity curve starts to make a steep climb, insinuating that massive profits are being made in a short time.
That would mean that Forex In Control Reborn is actually engaging in an aggressive style of trading to make money fast.
I am not so sure why a trader would need this feature though, seeing that experience has taught us of the fact that Forex traders can’t become millionaires overnight.
Generally, when I compare the trading results for the two pairs (when under accelerator mode), I see that the difference is substantial.
When I look at InControl Reborn Myfxbook account, a see a very decent equity curve too.
The maximum gain is +1073.35% (as at the time of writing this review).
Average monthly return on investment is 11.91%. But draw down is 13%.
The only mistake with this Myfxbook account is that it is not a live account.
How did I know this?
Well, I checked the date of tracked results and actually realized that I was looking at trading data dating back to 8th of January 2017.
So there we have it. InControl Reborn myfxbook account just deceived me at first.
I thought results were impressive only to look closer and realize that their myfxbook stopped tracking performance on 11,December 2017.
The account was setup in March 2016. It is therefore obvious that what am looking at is not an updated performance record.
My conclusion of the Forex In Control Reborn review
There is a possibility that this robot crashed the test account sometimes in 2017.
Personally, I would have gone ahead and tested it. But when I discovered this fact, I opted not to proceed with my plans.
I am therefore ending this Forex In Control EA review with a word of caution….. This Forex robot is not a worthwhile investment to spend money on.
If you’re seriously in need of a Forex trading robot, click here and follow my recommended list of Forex robots to trade with in 2018.
For those who want to learn how to trade, I have a course and a membership package for that too.
Finally, if you have any thoughts or comments, don’t be afraid to write them below or send me a private message if there is need to speak to me directly.
Thanks for reading this Forex In Control EA review. Till next time.