Forex Gump is an EA, with unknown developers and location. The website promises profitability and user-friendliness for all its users, both novice and experienced.
Today we will be reviewing Forex Gump EA to ascertain if the service this vendor is offering is worth the purchase. Read through our review to see what experts have to say about the Forex trading software.
Table of Contents
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What Are Forex EAs, Signals or Indicators?
An expert advisor (EA) is software that directs and guide you on what trades to make or pass on, it even automatically initiates and carries out trades according to a set of already programmed instructions. Expert advisors are most often deployed on the MT4 or MT5 forex trading platforms.
We cannot overstate the advantages and usefulness of Expert advisor. Among the many advantages is the slight learning curve involved in using the Expert Advisor. That is to say, you need little learning to use an EA as the trades are being carried out by a set of instructions already made by an expert. Another advantage is that it can consider a lot of variables that humans may not have the time or potential to handle.
It is normal and not out of character for a Forex EA vendor or signal providers to lay claims to their product being a sure-fire way for you to get richer (it’s mostly just marketing.). This is because anyone who is looking for a signal provider is searching for a hassle-free way to make some profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit vendors at the bottom of this article.
Forex Gump EA Review
The developers and their location is not provided, this does not speak well of the EA. The website looks unprofessional and as if it was designed in a hurry.
The sales page of the website gives some claims, claims like how the EA incorporates neural networks as well as deep learning, offering several cutting edge indicators and filters for trading.
How Forex Gump EA Works
In this section, we cover the strategy and methodology the EA works. We also take a look at the trade result if any is provided. For the trade results we hold results that are posted on myfxbook to be standard but we also consider fxblue and other alternatives.
This EA works on the MT4 and the MT5 Platform, it works on multiple currency pairs. GBP / USD, USD / CAD, USD / CHF, USD / JPY, AUD / USD, EUR / CHF, EUR / GBP, EUR /JPY, EUR / USD
Forex Gump says that traders only have to follow the entry and exit rules provided by them. However, the website doesn’t provide any real explanation or insight into how this strategy is applied or how it works out in normal market conditions. This can be considered as a troubling sign by some potential buyers, who want and need detailed insights into how an EA works.
Our best guess after examining most of the trades they have executed over the past year, is that they implement some kind of high-frequency scalping or some kind of HFT. HFTs can refer to a collection of strategies that has a high-frequency entry point in the market.
Forex Gump EA Price
According to the sales page, Forex Gump EA is available in two packages.
The first one has one demo and one real account, with a price of €199. However, the second comes with unlimited demo accounts and 3 live accounts and is priced at The €399
Customer Support
They provide a contact form for any communication.
Client Feedback
Customer feedback is a vital instrument for us to offer up a quantitative review and analysis of an EA. We mostly consider feedback a third-party site as we have found that reviews on the official page might be manipulated, concocted or paid for.
We couldn’t find enough reviews by paying customers to come a decisive conclusion about this particular EA.
Conclusion
After going through all aspects of this EA, we are not satisfied with the gaps between what it promises and what it delivers.
Due to lack of feedback we couldn’t gauge the overall satisfaction of the customers.
This EA is on the high side, and as such we won’t be recommending the use today as we aren’t sure of its efficiency for that price range
EXPERT RECOMMENDATION: Use the Best Forex EAs/Robots in the Market Below
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