Forex Enigma EA is a brand-new expert advisor for automated trading on the MetaTrader 4 platform. The software implements an advanced trading system combining three effective strategies with News Filter. The vendor promises that Forex Enigma is a breakthrough analytical system that allows a trader just to sit back and relax while the robot will be making profitable trades. In this review, we’re going to check if this software is worth trying, analyzing its live performance and testing reports.
|COMPATIBLE TRADING PLATFORMS||MetaTrader 4|
|CURRENCY PAIRS AVAILABLE||EURUSD|
|RECOMMENDED LEVERAGE||from 1:100|
|PRICE||$149 / $199 / $249|
|MONEY BACK GUARANTEE||Yes|
The vendor is selling Forex Enigma using click2sell service, so you can pay for the software via PayPal. We’re glad to see that devs provide 30 days money-back guarantee in case if account balance is in loss after 20 days of trading with Forex Enigma. Worth mentioning that the refund applies to the first purchased license only.
- Basic – for the price of $149 you’ll get a lifetime license for Enigma EA that you can use on one real account and one demo account with free updates and support;
- Standard – for the price of $199 you’ll get a lifetime license for Enigma EA that you can use on 2 real accounts and 2 demo accounts with free updates and support;
- Professional – for the price of $249 you’ll get a lifetime license for Enigma EA that you can use on 3 real accounts and 3 demo accounts with free updates and support.
So, you’ll get the license for the same software with no additional features; the price is changing just depending on a number of your accounts.
Forex Enigma EA uses three types of the most popular automated trading strategies. These are Scalping, Trend, and Grid trading. Some of them are high-risk strategies and can blow up trader’s account when used unthoughtfully. The vendor doesn’t provide us with any details on how these strategies work together, so it’s tough to conclude about their effectiveness.
The backtest of this strategy with high risk setting you can see on the screenshot above. The profit factor was 3.33. The win rate was about 68% for longs and 78% for shorts. The maximal DD was 28.05%, which is quite normal for this type of EAs.
With a low-risk setting on, the drawdown was 10% lower, but the system has generated two times less profit.
The devs provide only one FXBlue verified trading account running Forex Enigma EA. There are no Myfxbook accounts, which is disappointing because Myfxbook provides the most transparency when it comes to confirmed trading results. The account was started in January 2020 but we can see first closed orders only on February 24. Overall, it looks like there’s some kind of manipulation is going on, and I think that we can’t trust these results, especially with such a short trading period.