The Forex Gump EA (expert advisor) is a multi-currency forex robot that has been programmed to automatically trade forex currency pair charts from within the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) desktop platform. Users can load the Forex Gump robot onto their MT4/5 charts and it will continually scan the forex market for trading signals based in the robots unique trading algorithm. When it finds what it deems to be a valid trading opportunity, it can then place and manage the position on behalf of the user. Alternatively, the Forex Gump software can be set to semi-automated in which instance it will simply send you an alert via email or SMS, and you can then decide if you would like to manually place the trade or not. In this Forex Gump EA Review, we will take a look at the features, strategy and results of this forex expert advisor to help you decide if it is something that you would consider using.
- Fully automated forex robot
- Can trade on multiple currency pairs and timeframes
- Customisable settings
- Dynamic trading strategies
- Verified Myfxbook results
- No backtests
- MetaTrader only
The Forex Gump EA can trade on up to 25 currency pairs and across multiple chart timeframes from the 1-minute charts through to the 4-hour charts and above. Despite this, the developer specifically recommends the following forex currency pairs on the 1-minute timeframe: AUD/USD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/USD, GBP/USD, USD/CAD, USD/CHF and USD/JPY.
You can choose between 3 different risk settings which are high, middle and low settings. These aim to limit the losses as much as possible should the system crash. As always, you should only use a lot size that you are comfortable with as every trader is different.
You will need the MetaTrader platform running on your computer or laptop for the Forex Gump EA to be able to search for trades and manage positions. If this is not always possible, you could consider a forex VPS which would be able to remotely run the MT4/MT5 terminal 24 hours day.
Some of the more prominent features of the Forex Gump Expert Advisor include the following:
One of the most impressive Forex Gump EA features is the fact that it is capable of dynamically adjusting to the market conditions in real time. There are many forex robots which tend to be dependant on certain markets, whether that be trending or ranging markets. This EA on the other hand is able to adapt to the current situation in the forex market.
The trading software has a built-in news filter to try and avoid trading around important economic news releases which can cause increased market volatility and therefore unsuitable market conditions for trading. Forex brokers tend to have increased spreads and slippage around major news events which can be another good reason to avoid them.
Multi-currency Forex Robot
The multi-currency nature of the software emphasises the flexibility of the implemented Forex Gump EA strategy and means that it can be adapted to different trading styles, for short, mid and long-term traders alike.
When choosing a trading robot, one of the most important things to do is to check the latest results and see how it has been performing historically. Whilst this is no guarantee of future performance, it can help to give us a rough idea of the trading system being used.
Forex Gump EA FX Blue
We have a selection of verified by FX Blue Forex Gump EA results showing recent performance of the expert advisor on a couple of real trading accounts and a demo account. You can see the charts below for up to date results and detailed statistics on how the robot has been trading.
Forex Gump EA Backtesting
Unfortunately, the developer has chosen not to share any Forex Gump EA backtests. This is disappointing as backtests could have given as a rough idea of how the software may have performed through different forex market conditions over a number of years.
The Forex Gump expert advisor is a versatile forex robot that trades frequently on the MT4 or MT5 platform and is backed with verified real trading account results. It has some innovative features such as the news filter and comes with a money back guarantee. You could always run it on a demo account risk free to begin with to see if it meets your needs. We would like to see the developer publish some backtests to show how the system may have traded across multiple currency pairs over many years of historical data.
The Forex Gump EA is a flexible multi-currency forex robot for the MT4/MT5 platforms that has 3 risk settings, a built-in news filter and verified real account results to check its recent performance.
What is the Forex Gump EA price?
The Forex Gump EA costs €199 (1 live and demo account license) or €399 (unlimited demo account licenses and 3 live account licenses). The main difference between each package is the number of demo and live account licenses that you receive. Both Forex Gump packages include free 24/7 support, free updates and a 30-day money back guarantee.
Where can I download the Forex Gump EA?
You can download the Forex Gump EA from the official website here.
What kind of customer support does Forex Gump EA offer?
They provide 24/7 support via email.
What are the best brokers to use with the Forex Gump EA?
You can use any MetaTrader broker to run the Forex Gump EA. Generally speaking, the lower the spreads and commission of the broker, the more you can save in trading fees.
What’s the minimum amount required to trade with the Forex Gump EA?
There is no minimum amount required to start using this forex trading robot although as always, you should not use what you cannot afford to lose.
What is the Forex Gump EA refund policy?
The software comes with a 30-day money back guarantee if you are not happy with it.
Is the Forex Gump EA a scam?
No, we don’t think that Forex Gump EA is a scam but that does not mean it will produce good results. No matter how good any trading robot is, none can predict the future.
Can I get the Forex Gump EA for free?
To be fair, you may find a free version of the Forex Gump EA being shared online if you look for long enough, but it is likely to be out of date, unsupported and potentially dangerous.
What currency pairs does the Forex Gump EA trade?
The EA has been optimised specifically for the following fx currency pairs and one-minute chart timeframe: AUD/USD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/USD, GBP/USD, USD/CAD, USD/CHF and USD/JPY.
What are the best Forex Gump EA settings?
The best settings for the Forex Gump EA are those provided by the developer. Nobody will know the robot 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 Gump 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 account to begin with. You could also backtest the Forex Gump robot in the MetaTrader strategy tester with your own unique combination of settings to get a rough idea of historical performance.
What do I need to run the Forex Gump EA?
You will need the MT4 platform or MT5 platform and an account with a forex broker. Most forex brokers will let you open a free demo account and download MT4 free of charge.
How much money can I make with the Forex Gump EA?
There cannot be any guarantee on how good or bad any forex robot will perform. Due to the unpredictable nature of the forex 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 Gump EA.
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.