According to their website, Forex Cruncher is a premium expert advisor aiming to aid traders to make gains of 300 % and above in four-month segments. According to the team, they aim to provide financial freedom, which was the main driving force behind the creation of this trading system in the first place. The website appears to come off as amateurish.
When it comes to the creators of this application, not much information is provided such as their whereabouts, or even the identities of the personnel involved. The only thing mentioned on the website is the 18 years of experience in dealing with over 1800 clients. However, no proof or other document has been provided to substantiate these claims. Also, there is no direct portal for user support for the application. Users instead, have the option of filling out a contact form to get in touch with support, with no direct phone number or email provided.
Both above points should appear as a red flag to many users, even though it’s not uncommon to find other Forex EAs exhibiting the same characteristics.
Forex Cruncher Offering
- Price: $99
- Strategy: Breakout/Price Action
- Timeframe: Undisclosed
- Pairs: GBP/USD, AUD/USD, USD/JPY
The product is reasonably priced, requiring just $99 for a lifetime membership after providing users with a $100 discount on the original $199 price tag. The developer does not provide any other information regarding what users can expect when they make the purchase, which is quite confusing.
Trading Strategy and Features
In their own words, Forex Cruncher EA provides 11 very useful features to back up their claims.
- Easy Risk Control Settings
- Track Record of Consistent profits
- Extremely Low drawdown
- Risk-Free 60 Day Moneyback Guarantee
- Unique Breakout Algorithm
- Money Management System
- User-friendly Interface
The Developers have assured its users in their website that they do not utilise any martingale techniques with lagging indicators, instead of focusing on a price action trading strategy. Despite not being provided with details regarding this strategy, it is assumed that the EA opens to two trades at a time, utilising an extremely tight stop-loss along with their breakout algorithm which is based on a price action foundation. The risk-reward ratio is fixed at 1:2 with the assurance that their money management system will protect their user’s capital.
For an application which makes bold claims for itself, there is not much proof given in terms of trading test results. The vendors themselves have provided a screenshot of a supposed Backtesting session, which appears to be majorly inadequate. Furthermore, there aren’t any accounts from the vendor on authoritative sites such as myfxbook, which makes it impossible to confirm the test results. In today’s age, longform statements or myfxbook accounts are required for providing transparency to users. This is another definite red flag.