Forex Alpha EA Review: this is the name of auto-trading product in the Forex market or simply a Forex Expert Advisor (EA). Is it a legit Forex robot or a scam?
What Are Forex Signals or Indicators?
Most Forex indicators are created for the purpose of giving traders trading signals that are accurate as well as consistent. With a legit indicator system, traders can afford to spend less time monitoring the market.
Traders are provided with what can be termed expert advice from these robots, this is why they are called Expert Advisors (EAs). EAs are sold by indicator vendors.
Forex Alpha EA is an automatic trader that can help traders navigate the market 24/7. Armed with this product, traders are assured of making consistent gain. The vendors even claim that in time of the worst economic crisis, traders will get “double-digit returns”.
It is totally in character for Forex EA vendor or signal providers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more 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.
Benefits of trading using the robot are listed as follows:
Advanced money management system
Compatible with most Forex brokers
Easy to use
A flexible trading system
How Forex Alpha EA Works
The team behind the product are said to be experts in the Forex world and they claim that their software can make profit steadily. Even slight movements in the market can be exploited by the system. Their allowing several currency pairs is viewed as an advantage as well.
Forex Alpha EA uses a trading logic designed with modern concepts that include an automatic leverage level. This will allow the robot adjust leverages based on the performance of the trade. Therefore, good trades lead to increase in leverage and bad trades will get leverage stopped at pre-set levels.
We do not find much details regarding how the auto trader is supposed to help clients make profit. It is common for Forex robot vendors to avoid unnecessary details. Traders however, want to be sure that the vendor has in-depth understanding of the market.
Forex Alpha EA Pricing Structure
Lifetime (One real account) – $199
This comes with access to trading all the currency pairs and free updates including unlimited demo accounts. At the moment, it is being sold for 20% discount and has a 60-day money back guarantee.
It is still a new product and thus clients have not started offering their opinions on the product. The vendor is advised to prompt clients to provide feedbacks on trusted third-party websites.
Results are not provided on MyFxBook and some are shown to be backtests. An account on FX Blue is provided but the website is not very trusted. The results show impressive figures but they are not trustworthy.
To contact the vendor or a customer care representative, clients are directed to fill an online message form.
Forex Alpha EA does not really convince us of its legitimacy. As it is unwise to recommend an untested product, we advise traders to wait until more convincing proofs are available. We find the price to be competitive however but no information is provided on who the vendor is.