Forex Flex EA Review
The Forex Flex EA is an industry leading automated forex system that will scan the charts within the MetaTrader platforms for trading signals. This powerful forex robot can automatically place and manage trades on behalf of the user.
Forex Flex is an automated forex trading system developed for the MetaTrader 4 and MetaTrader 5 platforms. This forex robot will automatically scan the charts within the MetaTrader platforms for potential trading signals. When the built-in algorithm finds trading signals, the Flex EA will enter a trade and manage the position on behalf of the user. This makes it a completely hands-off trading robot that just requires an initial setup that shouldn’t take more than a few minutes by following the provided instructions. Forex Flex customer support is excellent and available at any time, should you need assistance. Since being released way back in 2012, this particular trading software is often considered as one of the best trading robots commercially available for many reasons which we will cover in this exclusive Forex Flex EA Review.
The Forex Flex EA strategy uses virtual trades that run in the background to constantly monitor the current market conditions. It will wait for the ideal entry opportunity based on a combination of technical and price action analysis. Once it finds a trade setup, it will place and manage trades automatically.
The default settings will use 6 virtual trades per currency pair to monitor market conditions. Lowering this number will result in less accurate entry points, but higher trading frequency. Raising this number will do the opposite.
As the forex market is constantly changing, it is important that trading robots such as Forex Flex are updated on a frequent basis. Thankfully, this is made easy for the user as the software can automatically update itself from the server side, making sure you have the latest version running.
Forex Flex FTMO EA
The developer has created a new version of the Forex Flex EA which has been designed specifically to pass the FTMO challenge. The Forex Flex FTMO EA has adjustable features including trading days, maximum drawdown, maximum daily loss and profit target. These means that it can be used with prop trading firms to pass trading challenges and qualify for a funded account.
The Forex Flex EA implements a range of useful and innovative features including the following:
- Optimized Settings: This means that it is ready to use out of the box without any complicated settings to play with. You just need to load it onto your charts and choose your desired risk according to your own tolerance.
- Free Updates: No need to worry about any ongoing costs as you get free Flex EA updates for life. The developer is constantly working on further improving the software and updates are automatic. Frequent updates can mean that the robot is relevant to current market conditions.
- Members Forum: There is a Forex Flex EA forum where members can discuss the software, share settings, ideas and results. The developer is active in the forum and happy to listen to any feedback from users.
- News Filter: There is a built-in news filter to try and prevent the robot from trading around major news releases that can create high market volatility and unstable trading conditions.
- 12 Trading Strategies: You can choose between an impressive selection of 12 trading strategies that cater towards different trading styles. There is low risk, medium risk and high-risk strategies to choose from.
- Money Management: The Flex EA money management feature lets you control the size of your positions along with the maximum drawdown, stop loss and take profit levels.
- Multiple Currency Pairs: Whereas many forex robots are focused on a couple of currency pairs, this software can be run on any currency pair due to its flexibility, hence the name “flex”.
- Equity Trailing TP: This is one of the stand out features of the Flex EA. It is basically a trailing stop function that aims to lock in trades once they reach a certain point and trail the remainder to try and maximise the profit potential. This feature can also be used on manual trades.
- DD Stoploss: This is a protective feature that will close out all open positions should your account drawdown reach a specific percentage.
- Session Filters: You can set the robot to trade or avoid different market sessions, such as the New York, London or Tokyo sessions.
- Time Filters: Select the days and hours that the software will run.
- Indicators: The Flex EA has a range of technical indicators and chart patterns that can be switched on or off, including EMA crosses, TDI, Support & Resistance, Bollinger Bands, ADR, Stochastic, RSI, Candle sizes, Momentum, and more.
- Indicator Closures: The software can be set to automatically close trades according to indicator conditions. Examples include to close all trades on an EMA cross or when the RSI reaches an extreme level.
- Hedging: Not all brokers allow hedging and the majority of provided set files do not require it, but the option is there for those who need it.
- Hide From Broker: This option helps to stop your broker from knowing the trading strategy that is being used.
- Currency Filters: This filter allows you to limit your exposure to specific currencies at any one time. E.g. trade a maximum 2 USD pairs at once.
Now that we have covered what the software is and how it works, lets take a look at the Forex Flex EA results to see how it has been performing. We will look at real results verified by Myfxbook and historical results based on backtesting in the MetaTrader strategy tester.
Forex Flex EA Myfxbook
The developer has published multiple verified Myfxbook accounts that show how the Forex Flex EA has been performing over the years which you can see below.
Forex Flex EA Backtesting
There are a couple of Flex EA backtests that you can see in the screenshot below. The 99% modelling quality means that the robot was tested in the MT4 strategy tester with real tick data for the most accurate historical results possible.
Putting it all together, the Forex Flex EA is one of the best forex robots commercially available when you consider how long it has been in development and the transparency provided via real verified Myfxbook accounts. The software implements innovative technology with an abundance of advanced features. It is frequently being updated to ensure that it can stay relevant in todays market. The Flex EA has plenty of trading strategies and set files included, whilst you can customise it to your own trading style. The developer is on hand to help and there is a dedicated forum where you can share your experience with other traders.
What is the Forex Flex EA price?
Forex Flex has 3 purchase options, starting from $399. The difference between each package is the version you will receive (MT4/MT5) and the number of licenses. Each Forex Flex EA license allows you to run the software on one live trading account whilst all come with unlimited demo account licenses. All 3 memberships will also include all 12 different setting configurations that offer 12 unique trading strategies that you can plug and play at the click of a button.
Where can I download the Forex Flex EA?
You can download Forex Flex from the official website here.
What kind of customer support does Forex Flex offer?
The developer provides the customer support via email. This means that you can get answers directly from the person who has been working on the software since 2012 and therefore knows it inside out.
What are the best brokers to use with the Forex Flex EA?
There is no one size fits all when it comes to forex brokers. It really depends on your budget, location, funding options and other personal preferences. That being said, Forex Flex can run on any MT4/MT5 broker whilst it is also NFA and FIFO compatible.
What’s the minimum amount required to trade with the Forex Flex EA?
There is no specified minimum amount required to start using this trading software. You should only use what you feel comfortable with and can afford to lose.
What is the Forex Flex EA refund policy?
There is a 30-day money back guarantee is you are not happy with the software.
Is the Forex Flex EA a scam?
No, Forex Flex EA is not a scam. Whilst that does not mean it will produce good results, the developer has been working very hard on the software since 2012. No matter how good any trading robot is, none can predict the future.
Can I get the Forex Flex EA for free?
You probably could spend countless hours looking for a free version of the Forex Flex EA being shared but it is likely to be out of date, unsupported and potentially dangerous.
What currency pairs does the Forex Flex EA trade?
The developer states that it works best on the following currency pairs: GBPUSD, USDJPY, USDCAD, USDCHF, EURUSD, AUDUSD, EURJPY, EURCHF, EURGBP, NZDUSD. However, it can be traded on any instrument.
What are the best Forex Flex EA settings?
The best settings for the Forex Flex EA are those provided by the developer. Nobody will know the Flex EA more than the person who created it. They would have spent countless hours over many years optimising the settings so that you don’t have to.
Can I change the Forex Flex EA settings?
If you have the knowledge and experience, you are free to experiment with your own settings, this includes the lot size, stop loss, take profit, and more. You may wish to test your settings on a demo trading account to begin with. You could also backtest Forex Flex in the MetaTrader strategy tester with your own combination of settings to get a rough idea of historical performance.
What do I need to run the Forex Flex EA?
You will need either the MetaTrader 4 or MetaTrader 5 desktop platforms and an account with a forex broker. Most forex brokers will let you open an account with a small deposit and download the MetaTrader platforms free of charge.
How much money can I make with the Forex Flex EA?
There are absolutely no guarantees on how good or bad any trading robot will perform. Due to the unpredictable nature of the markets, nobody can predict what will happen in the future. You should make sure that you understand all of the risks involved using any automated trading system such as the Forex Flex Robot.
Results are based on historical data. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. There is no guarantee of future performance. You should understand the risks involved with trading. Your capital is at risk.
