Good profits and low risks are two key criteria that Forex traders look for in automated software. Growex claims that it can meet these criteria with its expert monitored auto trading copy service. With an assured daily profit of 0.35% and expert risk control, this service boasts of being a transparent and safe trading tool.
Product Offering
Promoted as the next level trading tool, Growex has offices in London and Cape Town. The vendor provides a phone contact for texting via Whatsapp and an email address. Members can also make use of the Telegram Group for customer support. The team behind the automated trading tool includes Val, the trader, and Ed, who is in charge of the client service.
All entries are automated in this service with monitoring of the market done 24/5. Proprietary software is used which helps to predict accurate entries which are done when a stronger than usual market movement occurs with a high probability of a pullback. According to the developer team, the risk management process used ensures the service offers consistent profits with its ability to recover from losses if they occur.
The main features of this copy service include consistent profits, expert risk control, transparency, low latency, balance protection, and regulated safety. As per the vendor info, the ATS uses an effective strategy along with controlled and optimized exits which have resulted in ongoing profits for clients since 2020. Under the risk control feature, three different plans are used to protect the capital.
Growex
| Type | Fully-automated EA |
| Price | $39 per month |
| Strategy | Grid |
| Compatible Platforms | MT4 |
| Currency Pairs | Not disclosed |
| Timeframe | Not disclosed |
| Recommended Min. Deposit | $1000 |
| Recommended Deposit | $5000 |
| Leverage | from 1:50 |
For $39 per month, you can make use of this copy service. The vendor offers a unique, fully integrated, and real-time trading experience with its daily market analysis and robust trading approach, which help in optimal exits. A free trial of one to two weeks is provided for traders to experience the profits, support, updates, and member forum. The vendor provides a loss eliminator plan where you can use the custom capital protection ideas of the service.
Trading Strategy
An entire section of the site is devoted to explaining the strategy used. A controlled and managed grid strategy is employed with a mild increase in lot sizes. The vendor maintains that the approach does not include the Martingale system. All trades are managed conservatively and ensure minimal loss to users.
Risk management includes manual intervention whenever needed to avoid losses. While the strategy explanation is detailed, the vendor does not provide info on the timeframe used and the currency pairs the service focuses on. We could not find details on the recommendations and settings.
Trading Results
No backtests are provided by the vendor. However, a myfxbook verified trading result is displayed on the site. It is a real USD account using IC Markets broker and the leverage of 1:500 on the MT4 platform. Here are a couple of screenshots of the results:
From the trading stats, we could find there is a huge difference between the total profit and the absolute profit value. The total gain is 104.06% while the absolute gain is 57.53%. This indicates the profit is not as high as the vendor claims to be. A daily gain of 0.33% and a monthly gain of 10.71% are revealed by the result with a drawdown of 14.49%. The account started in October 2020 up to May 20, 2021, with deposits of $1925 and a balance of $1302 reveals a total of 295 trades with a profit factor of 2.60. We could see the lot sizes varying from 0.01 up to 0.13.
Customer Reviews
The Trustpilot site displays 13 reviews for this copy service with a rating of 4.4 out of 5. All the reviews are positive. The reviews commend the accuracy of the copy service and the guidance offered by the customer support. Here are a few screenshots of the reviews.
