Tag: forex review

Candle Pattern Finder Indicator Review

Post author By Forex Academy
Post date 11 May, 2020
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Candle Pattern Finder can be found on the MQL5 marketplace under the indicators section, we have added a link below to the exact indicator that we are looking at. Pavel Zamoshnikov first uploaded this indicator to the MQL5 marketplace on the 25th of May 2015, it received a number of updates, the most recent update was on the 29th of March 2017 which took the indicator up to its current version of 1.21.

Overview

Candle Pattern Finder is an indicator for the MetaTrader 4 trading platform that can be used to find various different candle patterns.

It is able to find the following patterns:

Hammer / Shooting Star (with or without confirmation*)
Inverted Hammer / Hanging Man (with or without confirmation*)
Engulfing (high or low sensibility**)
Piercing Line / Dark Cloud Cover (high or low sensibility**)
Three White Soldiers / Identical Three Crows (high or low sensibility**)
Morning Star / Evening Star including Doji Star
Rising Three Methods / Falling Three Methods
Meeting Lines
Harami, including Harami Cross

The main features of the Candle Pattern Finder indicator:

– The indicator implements virtually all candlestick patterns available for Forex from the book by G. Morris.
– The indicator is not tied to the size and shape of candlesticks since it uses the intellectual recognition technique, which is similar to human perception patterns are recognized so as a human eye would visually recognize them.
– You can choose to recognize separate candlestick patterns. Flexible settings for each pattern.
– Two languages are supported: English and Russian (the Language parameter). You can also add the names of the candlestick patterns, and in your mother tongue (send a private message to me).
– Sounds and message notifications of pattern formation. Emails and push notifications (parameters ON/OFF-Mail and ON/OFF-Push).

There are also plenty of parameters available to alter, some of them include parameters for different candlestick patters (Engulfing, Cloud, Hammer and Shooting Star, etc), notifications and alerts such as type and sounds, colors of arrows and lines, and other settings such as descriptions and language.

Service Cost

The indicator is one of the cheaper tones available, it can be purchased for $15 which will get you unlimited access to it, unlike any other indicators on the MQL5 marketplace, there is no option to rent it so buying it outright is your only option. There is a free demo version available, the free version is fully functional on the GBPUSD pair (history and signals in realtime) while on other instruments it can only use the history function going back 5 bars.

Conclusion

At the time of writing, there were 10 user reviews available, they have provided the indicator with an overall rating of 4.5 out of 5.

“This indicator has, in my opinion, the best value comparison to the price, you need to just set the setting properly! That is really important, because if not, it will show you too much signal, anyway believe you don’t need as much. So just set the setting like ——; only with confirmation, and low sensitivity accurate signals! Cheers quys!” – A 5-star review.

“Just bought this product, does what it says on the box but really helps you learn your candles without being intrusive. Highly recommended.” – A 5-star review.

“NOT good… NOT GOOD AT ALL.” – A 1-star review.

The majority of the reviews are very positive, the one negative review isn’t giving up a lot of information, even with all the positive reviews, we would suggest that you download and try out the free demo version, even with its limitations it will give you a better understanding of how the indicator works and also you will be able to make sure that it fulfills your needs prior to making a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/9693

Tags forex indicator, forex review, Forex Service

Dual Bermaui Deviation Percent Indicator Review

Post author By Forex Academy
Post date 11 May, 2020
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Dual Bermaui Deviation Percent is currently located don the MQL5 marketplace. First uploaded on the 7th of April 2019 but its creator Muhammad Elbermawi, it has received a number of different updates, its most recent update was on the 8th of December 2019 and is currently at version 4.0.

Overview

Dual Bermaui Deviation Percent is an indicator that can be used with the MetaTrader 4 trading platform. The indicator is made up of colored tape that will show trading signals that depend on two Bermaui Deviation Oscillators and two moving averages.

Some of the main features of the indicator:

The combination of two BD% with two different periods could help at catching the different market cycles.
Using BD% as a trend filter is a great advantage because of BD% work as a filter for low volatility movements in the market.
Signals appear at the first open after buy/sell conditions met.
Well-designed parameters to help the user easily navigate between them.
DBD% code is revised to make sure that it will not consume the user’s PC memory.
DBD% arrows do not repaint or recalculate its results.
DBD% send emails and push notifications to mobile devices.
Easily switch between different symbols or time-frames.
Plot Standard Deviation or Linear Regression Channels to show Overbought and Oversold areas.
Plot a grid of rounded numbers, which show the most important psychological levels.
Plot Support and resistance levels that mirror supply and demand on the chart.

There is also a bunch of parameters and setting included, these are things like the candles, alerts of different events, arrow sizes, symbol sources, channel lengths, chart colors, and more.

Service Cost

The Dual Bermaui Deviation Percent indicator can be purchased for $50, this will get you up to 1000 activations and no other limitations. There is also the option to rent the indicator that will cost you $10 per month or $30 for a three-month rental.

There is a free demo version available, but the details of it are not made clear, this is often an indication that it may only be used with the strategy tester within MT4 but we cannot say for sure.

Conclusion

There are 12 user reviews available, giving the indicator a rating of 5 out of 5.

“Another high-quality product from Muhammad….I think there is none similar to this outside. If you never use Muhammad’s product before, try this one. There is a full function demo which limited to EU/H1.” – A 5-star review.

“This is my third indicator that I have bought from Muhammad and like his other indicators they are very useful. His support has been fantastic and fast. Two thumbs up!!” – A 5-star review.

“This is the best indicator. very robust and safe. I LOVE IT” – A 5-star review.

So the reviews are all very positive which is a great sign, the developer has also been very active in the comments section of the site. They have been providing their own posts as well as replying to those left by people who have purchased the indicator. The most recent comments wee in 2020 which shows that it is still being actively supported.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/37495

Tags forex indicator, forex review, Forex Service

Forex Service Review

Exp4 Duplicator Forex Utility Review

Post author By Forex Academy
Post date 11 May, 2020
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The Exp4 Duplicator is an expert advisor that can be found within the MQL5 marketplace, we have provided a link below for ou to see exactly which expert advisor we are referring to. The original version of this expert advisor was uploaded to the MQL5 marketplace on the 3rd of June 2015, it has been […]

Overview

EXP4 Duplicator is an expert advisor intended to be used with the MetaTrader 4 trading platform.

Some functions of the expert advisor:

-The following functions are supported: custom lot for copied trades, copying Stop Loss, Take Profit, use of trailing stop.
-It copies all deals opened manually or by another Expert Advisor.
-Copies signals and increases the lot from signals!
-Increases the lot of other EAs.

To put things simply, it will duplicate positions made within the terminal. There are a bunch of settings available such as order duplication, to only copy buys or sells, to change the lot sizes, and more.

Service Cost

The Exp4 Duplicator will cost you $30 to purchase, you can also rent the software which will cost you $10 to rent it for 3 months or $20 to rent it for 6 months. There is a free demo version available, this will have some limitations added to it, but we don’t know what they are.

Conclusion

There are 29 reviews for the Exp4 Duplicator, the reviews are giving the expert advisor an overall rating of 5 out of 5 stars.

“the robot handles all currency pairs simultaneously, I think that many people can look for it 🙂 a great job” – A 5-star review.

“Excellent…It is very good EA and have very nice supporting…thanks” – A 5-star Review

“I bought the 1 month rental but it works perfectly in my pc but it doesn’t works in my vps. Can anybody help me? Please.” – A 3-star review.

So the majority of reviews are very positive, those that arent 5 out of 5 have stated that it still works, we will always recommend trying out the demo version, this will give you a better idea of its functionality and suitability to your requirements.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/9833

Tags forex review, Forex Service, forex utility

Forex Service Review

FFx MACD Dashboard MTF Alerter Review

Post author By Forex Academy
Post date 11 May, 2020
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FFx MACD Dashboard MTF Alerter is currently found within the indicators section of the MQL5 marketplace. We have added a link to the exact indicator that we are looking at below. The indicator was created bt Eric Venturi-Bloxs and was first uploaded on the 28th of July 2014, it was then updated on the 1st […]

Overview

FFx MACD Dashboard MTF Alerter is an indicator for the MetaTrader 4 trading platform, it was created to show you on a single chart, all the timeframes with their own statuses within the indicator.

There are two different alert options, the single timeframe option will mean that each timeframe will be selected individually and alerts will be sent separately when a signal is generated. The multiple timeframes options mean that all selected timeframes must agree with the signal before an alert is sent.

There are a few different options available:

Select the timeframes to trigger the alerts
Alert pop up/sound/email/push
Activate/deactivate the alert directly on the chart
Position on the chart
And, all usual settings of the standard indicator

Service Cost

The indicator can currently be purchased for $10, this will give you unlimited access to it with no added limitations, there is not an option to rent the indicator so purchasing it is the only option available. There is a free demo version, but the limitations are not known or stated on the site, it may still be worth downloading it to try out.

Conclusion

There are currently 5 reviews available, they are all positive and have given the indicator a rating of 5 out of 5.

“This is a great tool! It saves so much time. Eric, you have so many very useful indicators, I really appreciate the other ones I have purchased also.” – A 5-star review.

“I should say the developer is very helpful and he will answer all your questions. wonderful indicator, Thanks a lot” – A 5-star review.

“I am a real Fan of FFx tools and its a pleasure to communicate with Ferru… you feel never alone… FFx MACD Dashboard works great and even when adjusted to all TF… around 10 very good and strong entry signals per day..” – No rating is given.

So the reviews are all very positive which is a good sign, there are also over 20 comments, the developer has been responding to them in a prompt manner which shows that he is still actively supporting the indicator which also shows us that you will receive good quality customer support should you decide to purchase it. We would suggest trying out the free version, it may give you an idea as to whether it does what you need it to or not.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/5351

Tags forex indicator, forex review, forex services

Forex Service Review

Harmonic Dashboard Ninja Indicator Review

Post author By Forex Academy
Post date 11 May, 2020
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Harmonic Dashboard Ninja can be found within the indicators section of the MQL5 marketplace. T was created by Lorraine Pierce and was first uploaded to the marketplace on the 7th of March 2019, there have been no further updates to the software so it is still lat version 1.0. Overview Harmonic Dashboard Ninja is an […]

Overview

Harmonic Dashboard Ninja is an indicator designed for the MetaTrader 4 platform. It was created to display all detected patterns within a single dashboard. It will look for all harmonic patterns including Gartley, Butterfly, Bat, Cypher, Crab, and Shark.

The EA will scan all currency pairs on all timeframes to look for the most effective harmonic price pattern. Once it has found a pattern you can click a button to bring up the chart, it will then give you the patterns and trade setups, it is then up to you to place the trade, as this is not an automated trading system.

There are also a number of parameters that can be altered to better suit your own requirements. Some of the options include the symbols to use, timeframes, what bits of information to display, max historical bars, colors of bars and lines, alert types, and more.

Service Cost

The indicator cannot be purchased outright, instead, there is only the option to rent it, this can be done on a monthly basis for $30 per month, you can also rent it for three months which will cost you $50, for six months it will cost $60 and for a year it will cost you $99, whichever option you take, you will have up to 10 activations of the indicator.

A free demo version is also available, this has some limitations to it though, they are not stated on the site so we are not sure exactly what the limitations are.

Conclusion

There is one review that is asking a question rather than giving a review, it does not have a rating so the indicator is still unrated. This makes it hard for us to know whether it is doing what it is meant to do and whether it is functioning properly. There is also only one comment in which the developer did not respond to. Due to there not being a lot for us to go on, we would suggest contacting the developer with any questions that you may have, this is an opportunity to ensure that it will do what you need it to, as well as ensuring that the creator of the indicator is still around to offer you some support should you decide to rent it.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/36546

Tags forex indicator, forex review, Forex Service

Forex Service Review

Idea Pro Forex EA Review

The Idea Pro expert advisor can currently be found on the MQL5 trading platform, to help avoid any confusion as to which expert advisor we are talking about we have provided a link to it below. The expert advisor was originally released on the 21st of December 2019, it has last been updated on the […]

Overview

Not a lot of information is provided about this expert advisor, it has been designed to work with MetaTrader 4. It is a fully automated expert advisor, it contains three different strategies which are based on the Stochastic, RSI, and MA indicators, the average can also be used.

There are a number of different settings that come with the expert advisor which allows you to alter the way that it works to suit your own style of trading. Some of the options available include a choice of trading strategy, starting lot sizes, whether to trade buys or sells (or both), whether to use money management, take profits, stop losses, grid sizes, trailing stop losses, maximum lot sizes, maximum spreads, and more.

There is also a link to a live account which shows that it has currently made around 13,715% profits since the time it started, starting with $1,000 now with a profit of $57,226.53. These numbers should be taken with a grain of salt as the signal has only been running for 2 weeks, so these sorts of results are a little too good to be true.

Service Cost

The expert advisor currently costs $35 to purchase, there isn’t a way to rent this one so only the $35 fee to buy outright is available. There is a free version available to allow you to test it out, but we do not know if there are any added limitations or time limits on the use of the free version.

Conclusion

There are currently 66 reviews for this expert advisor, the average score is currently sat at 4.5/5 stars which is a pretty good score.

“Excellent adviser! For a week of use, thanks to the recommendations of Vasily in telegram, I made a profit. Thank you very much! 5+” – A 5-star review.

“The controls don’t work .. When you press buy … Still raising orders on sell when you decrease opening order still place orders .. You may get lucky for 2 days and give a 5 star wait till you run it for a week.. Martingale .. BAD >>> Check it out on Telegram .. how many are losing running on RED.” – A 1-star review.

“Very Good EA, also a very helpful author. Good daily instructions! That combination makes this almost the holy grail. Withdraw your profits daily / weekly in case of unseen market movements.” – A 5-star review.

So there is a mix of reviews in there, but the vast majority are very positive. As always we would recommend trying out the free version before making a full purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/44709

Tags Forex EA, forex review, forex services

Forex Service Review

KL All Trendlines Alarm Review

Post author By Forex Academy
Post date 11 May, 2020
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The KL All Trendlines Alarm can be found within the indicators section of the MQL 5 marketplace, we have added a direct link to the indicator below. The indicator was created by Krzysztof Lorenc and was first uploaded on the 20th of August 2014, it received a number of updates, the most recent update was […]

Overview

The KL All Trendlines Alarm is an indicator made for the MetaTrader 4 trading platform.

The indicator currently has two functions:

Sound alerts for any trend line on the chart. You do not need to set other alert lines. Every trendline of your analysis is an alarm line.
Sound alerts for upper/lower breach of the price level using its own two horizontal lines – Top and Bottom.

The indicator works with suffixed symbol names such as EURUSD-Pro, the main symbols that it works well with are AUDCAD, AUDJPY, AUDUSD, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURUSD, GBPCHF, GBPJPY, GBPUSD, NZDJPY, NZDUSD, USDCAD, USDCHF, USDJPY, XAGUSD, XAUUSD, SILVER, and GOLD.

The indicator can be useful for those wanting to draw trendlines.

Service Cost

The indicator will currently cost you $15 to purchase it outright with any limitations, there is also an option to rent it, this is for a period of three months and will cost you $10 to use it fo those three months. There is a free version available to test, this version will have some limitations to it, but the site does not indicate what they will be, at any rate, it is worth downloading to test out.

Conclusion

There aren’t any reviews available for us to look at which is a shame, due to this we do not know if its users are getting what is advertised, as there are no reviews, we would very strongly suggest that you download and try out the free version, this will give you an idea of how it works and whether it fits your needs, of course, there will be some limitations, but it will give you a good idea, you could also contact the developer with any queries that you may have.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/5577

Tags Forex Alarm, forex indicator, forex review, forex services

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Grid King EA Review

Grid King can be found within the Experts section of the MQL5 marketplace, there may be other expert advisors with similar names, so we have provided a link below to the one that we are looking at. Grid King was uploaded by Wim Schrynemakers who is the creator, it was first uploaded on the 10th of November 2018, there have been a number of updates, the most recent update was on the 19th of March 2020 and this brought he, expert advisor, up to version 8.90.

Overview

The Grid King is an expert advisor designed to be used with MetaTrader 4, it does what its name suggests, it is a grid system expert advisor. The expert advisor has been optimized for 19 currency pairs, and its main focus was safety, the expert advisor tries to remove the margin call risk that many grid systems suffer from through a hedging strategy.

Some of the key features of this expert advisor:

Minimum recommended starting capital: 500$ (using cent account)
Very stable growth curve as a result of smart averaging techniques
“Safety First” approach in the development
Optimizable for any market
ONLY grid-system on the market that passes 18 years of stress-tests on historical data on multiple pairs
Fully automatic
Not sensitive to spread, commission, or account type, but of course a low spread ECN broker will work better and is recommended!

Optimized pairs: EURUSD, GBPUSD, USDCAD, USDCHF, USDJPY, EURJPY, GBPJPY, AUDUSD, NZDUSD, EURAUD, EURCAD, EURGBP, AUDNZD, EURCHF, AUDCAD, AUDJPY, GBPCHF, AUDCHF, CHFJPY, CADJPY, CADCHF, GBPCAD, NZDCAD, NZDJPY, NZDCHF, GBPNZD, EURNZD, GBPAUD, and XAUUSD.

You can use the same magic numbers on different pairs. But the 2 different strategies must use 2 different magic numbers. There is also a large number of parameters that can be changed, there is full documentation available around these, you should be able to optimize the expert advisor to match your exact needs.

Service Cost

The Grid King is quite an expensive expert advisor, it will currently cost you $500 to purchase, this will give you unlimited access to the expert advisor. TIf you do not want to spend that much at once, you are also able to rent it, you can rent it on a monthly basis which will cost you $250 per month, you can also rent it for three months for $350 or for six months which will cost you $450. There is also a free demo version available, this will have some limitations and we believe that it can only be used on a demo trading account.

There is also a budget lite version of this expert advisor which costs a little less but also has fewer features.

Conclusion

The Grid King has 42 reviews, the overall rating from these reviews is 4 out of 5 which is not a bad score at all.

“The Grid King is about risk management Grid with Martingale EA. Noe of EA has this level of defensive system. The author is one of very few honest challenger. Be realistic and patient.“ – A 5-star review.

“Been running GK since 4th April on ECN and Cent account. Decent profit, stable, really good EA. (5*) update 2019-May-27: Grid King hit 2 stop-losses with trailing TP, still in profit (but not much), stable. (5*) update 2020-Mar-18: Stopped because of too many SL for me. The account did not wipe, but I have stop using all grid strategies altogether, not just GK.” – A 2-star review.

“Although I had a stop out (EURAUD) after a couple of days of use (something that can always happen) I still believe this is (to my knowledge) the only martingale EA to go with. Clear (and acceptable) stop-out levels combined with a multi-currency approach. Great support and frequent updates that makes the EA getting better and better. At this moment I run all (15) the currencies on the “very conservative “lot size step” risk factor. After a couple of months, I hope to switch to the conservative setup.” – A 5-star review.

So there is a mix of reviews, many positive ones but there are also some negative ones in there, due to the nature of the expert advisor there will be people using settings that are too risky which can cause the expert advisor to blow an account. There are a lot of comments, the creator of the expert advisor seems to be responding to them all promptly which is a positive sign. Due to the cost of the expert advisor, we would highly recommend that you download the free version, this will only be usable on a demo account but it will give you a good way to test out the expert advisor, to make sure it is safe for you and that it does actually function properly prior to making a large purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/33065

Tags Forex EA, forex review, Forex Service

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FFx InsideBar Setup Alerter Review

Post author By Forex Academy
Post date 7 May, 2020
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FFx InsideBar Setup Alerter is found on the MQL5 marketplace, it was created by Eric Venturi-Bloxs and was first uploaded on the 26th of MNArch 2014. It has not received any further updates so the indicator is still at version 1.0. Overview FFx InsideBar Setup Alerter is a MetaTrader 4 indicator that has been designed […]

Overview

FFx InsideBar Setup Alerter is a MetaTrader 4 indicator that has been designed to alert you to trade setups, it will also provide you with entry points, two targets for taking profits and stop losses.

The main features and settings for the indicator:

-Entry suggestion – pips to be added over the break for the entry
-Minimum candle size – to avoid too close buy/sell entry suggestions
-3 different options to calculate the SL – by pips, by ATR multiplier or at the pattern High/Low
-3 different options to calculate the 2 TPs – by pips, by ATR multiplier or at Risk/Reward
-Offset the dashboard – any place on the chart
-Remove the suggestion once the price reached the SL line
-Lines extension away from the current candle
-All colors changeable – Background, text, Buy/Sell, entry and TP/SL
-Alert when a setup is found – sound / popup / email / push notification

Service Cost

The indicator can currently be purchased for $12 so it is quite affordable, purchasing it will give you up to 5 activations, unlike many indicators on the MQL5 marketplace, there is no option to rent it.

A free demo version is available, the details of it are not known to us which often means that it can only be sued with the strategy tester within the MetaTrader 4 trading platform.

Conclusion

There are currently six user reviews, they are all very positive and have given the indicator an overall rating of 5 out of 5.

“Awesome indicators….just needs to be able to show historical would be a great help.” – A 5-star review.

“Paints a clear picture of an inside bar, and allows you to customize your stop loss and take profit levels. Very useful for trading inside bars.” – A 5-star review.

“2 weeks at my chart and already a rate of 12/3 winning trades and making money….thank you Ferru” – A 5-star review.

So the reviews are all very positive showing that the indicator is doing what it was intended to do. There are also plenty of comments, the indicators creator has been very active in replying to the comments which are great to see and it shows that they are supporting the indicator and those that have purchase dit. Ther have not been any comments for around 10 months, so if you are thinking of purchasing it, contact the developer, this way you can make sure that they are still around top support it and you.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/3718

Tags Forex indicators, forex review, Forex Service

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Engulfing Bars Trading Indicator Review

Post author By Forex Academy
Post date 7 May, 2020
No Comments on Engulfing Bars Trading Indicator Review

Engulfing Bars is an indicator that can be found on the MQL5 marketplace, there may be other indicators with very similar names, due to this we have provided a link to the one we are looking at below. The indicator was first uploaded on the 8th of January 2016 by its creator Paul Geirnaerdt, there […]

Overview

The Engulfing Bars indicator has been designed to work with the MetaTrader 4 trading platform. It works by showing Engulfing Bars on the charts, the signal will then suggest a stop loss and take profit for the trade these bars are important for price action patterns. This indicator works better when using it on higher timeframes.

There are a number of settings available that can be altered:

-Show Engulfing Bars – Set to true to show Engulfing Bars.
-Body size percentage – Minimum size of the body of the Engulfing Bar in a percentage of the moving average of body sizes, a higher value detects less but (arguably) better Engulfing Bars.
-Stoploss distance in pips – Standard stop loss is at the high or low of the Engulfing Bar, this number of pips is added to that.
-Color Palette – pick Color Palette for ‘Dark’ or ‘Light’ Backgrounds.
-Colors – you know what to do.
-Show Alerts – set to true to do alerts.
-Show Screen Alerts – set to true to show screen alerts.
-Email Alerts – set to true to email alerts.
-Push Alert Notifications – set to true to push alerts.

Service Cost

The indicator can be purchased outright for $19, there is no option to rent this one unlike many of the other indicators on the MQL5 marketplace. There is a free version available, but there is no mention of the possible limitations or time limits on the free version.

Conclusion

Just the one review available, it is giving the indicator a 5-star rating.

“Very good”

While there is only the one review, there are plenty of comments asking questions, the creator seems very active at replying to the comments which are a good sign for your kind of support that you would receive. Due to there only being one review available, we would very strongly suggest that you download and test out the free version, there are some unknown limitations on it, but it would give you a better idea as to how the indicator works and to ensure that you are able to get it set up and running correctly.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/13882

Tags Forex indicators, forex review, Forex Service

Forex Services Reviews-2

Dark Knight Expert Advisor Review

Post author By Forex Academy
Post date 7 May, 2020
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Dark Knight was created by Norbert Mereg and was first uploaded to the MQL5 marketplace on the 17th of April 2014. It has received a lot of updates since it was first uploaded, the most recent update was on the 2nd of December 2014 and the software is currently at version 2.44. Overview Dark Knight […]

Overview

Dark Knight is an expert advisor for the MetaTrader 4 trading platform, it was designed to follow trends that have backtesting profitability of 99%. It is recommended to use with the EURUSD and USDCHF pairs and on the M15 timeframe, it does not require an ECN account but it is still recommended.

Some of the main features of the EA:

Built-in Trailing Stop with a partial closing feature.
Built-in Money Management.
Unique two-level trend filter feature.
Protection against a high level of spread.
ECN broker with 4 and 5 digits compatibility.
The notification could be sent upon closing a position.
Slippage data recording to file.
Full-scale, detailed logging.
Minimum account requirements: $100 with 1:100 (or equal currency).
Full backtest-compatible can be heavily optimized.
Non-grid system!

There are some parameters, unfortunately, the site that lists them is currently not working anymore so we do not know what they are.

Service Cost

The Dark Knight expert advisor will cost you $49 to purchase it outright with a one-off payment, this will get you up to 5 activations of the EA. There is also a rental option, this can be done monthly and will cost you $10 per month. A free demo version is also available but the limitations of it are not known and no stated on the site, so there is a possibility that it can only be used with the strategy tester within MT4.

Conclusion

There are currently 2 reviews for the Dark Knight EA, they have given it an overall rating of 3.5 out of 5.

“I took it twice for rent. The adviser as for me merges more than earns. I also tried to help him with my hands but it did not work out. There is no stability. Although the idea is not bad.” – A 2-star review translated from Russian.

“Very good expert advisor. Real performance exactly as backtested results. Running on Alpari (Russian)” – A 5-star review.

So a mix of reviews, however, it is hard to get the full picture with only two reviews being available. There are a few comments, all comments are from as far back as 2016 so it cannot be used as proof of support, due to them being so far back we would suggest trying to contact the developer with any queries that you have, this will enable you to check that it is still being supported and that it will work the way you need it to work before you make a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/4019

Tags Forex EA, forex review, Forex Service

Forex Services Reviews-2

Advanced Dashboard for Currency Strength and Speed Review

Post author By Forex Academy
Post date 7 May, 2020
No Comments on Advanced Dashboard for Currency Strength and Speed Review

The Advanced Dashboard for Currency Strength and Speed can be found within the indicator section of the MQL5 market, we have added a link below to this exact indicator. The indicator was uploaded by Bernhard Schweigert, its creator on the 13th of October 2017, there have been a few updates, the most recent update was […]

Overview

The Advanced Dashboard for Currency Strength and Speed is an indicator and dashboard for the MetaTrader 4 trading platform. It currently works on 28 currency pairs and is based on two other indicators (Advanced Currency Strength 28 and Advanced Currency Impulse).

The way it works it’s by giving an overview of the entire forex market, it will show advanced currency strength values, currency speed of movement, and signals for the 28 currency pairs on all available timeframes.

The main features of this indicator:

-Shows currency strength values of ACS28 and GAP-speed (Impulse) in each timeframe.
-Columns: the color codes show currency strength in 7 colors: strong extreme/stronger/strong/neutral/weak/weaker/weak extreme.
-Left Column: Shows a currency trend with a strength rating of all timeframes with a trend alert.
-If 3 timeframes in a row agree, 3 those blocks are highlighted showing a total rating.
-If there is a pattern, a button appears below the timeframe column for the strongest possible pair with an alert.
-Click on the button to open a chart for that pair/timeframe.
-Quick chart buttons: click 2 currency names to open any pair in a new window.
-Auto-update quote charts for all 28 pairs and timeframe will keep all MetaTrader 4 data current.

There is also a range of parameters and settings available which can alter the way the indicator works and displays, some of these include alert settings such as alert windows, popup alerts, email alerts, alerts for different timeframes. There is also a color setting for changing the colors of the lines and boxes, and finally, there are settings to choose where it will auto open charts, use specific characteristics, and more.

Service Cost

You are not actually able to purchase this indicator outright, instead, you are required to rent it, you can rent it in two different increments, the first being for a three-month period, this will cost you $165, you can also rent it for a one year period which will cost you $199 per year. There is a free demo version to test out, however, we do not know what the limitations of this free version are as they are not stated on the website.

Conclusion

There are currently 54 different user revies for this indicator, the majority are very positive and the indicator has an overall rating of 4.5 stars out of 5.

“This is a very good indicator. It gives you an overview of the whole forex market in terms of currency strength and speed. You can push alert buttons and open charts in the same chart window or different chart window. I use a different chart window and put the Advanced Supply Demand, ACS8, Impulse, and volume indicator on it and set it as default. Then when you push the alert button it opens chart with all your indicators on it. I like it very much. It gives you alerts which you can configure to your trading style. Love it. Very good support also. Thank you Bernhard.” – A 5-star review.

“Its Overprice and cant be just a Standalone trading system !!. And yes the price moves away while you are just trying to confirm is it as per rules or not (( to many rules !! )) so what is the use of it; its a nice indicator to give an overall picture of the market. BUT the cost for me I regret buying it.” – A 1-star review.

“Good product to predict which currencies to trade.” – A 5-star review.

So the majority of reviews are very positive, even with the great reviews and support(the creator is actively replying to emails), we would recommend that you download and try out the free version of the indicator, just to make sure that it does, in fact, suit your requirements and that it is something that you actually need.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/25461

Tags Forex indicators, forex review, Forex Service

Forex Services Reviews-2

Blahtech Market Profile Indicator Review

Post author By Forex Academy
Post date 7 May, 2020
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The Blahtech Market Profile can be found on the MQL5 marketplace, we have added a link to it below. The indicator was uploaded by Blahtech Limited on the 18th of December 2015, it was most recently updated on the 1st of August 2019 and is currently at version 2.9. Overview Blahtech Market Profile is an […]

Overview

Blahtech Market Profile is an indicator for the MetaTrader 4 trading platform, it was created to help you determine market behaviors. It helps to see the value zones which are ranges where 70% of trading took place.

Key features of the Blahtec Market Profile indicator:

Configuration presets for schedules on higher timeframes
Auto-switching of focus to the next active session
The highlight of business rules – Open, IB Extension, and Rotation Rules
Multi-session display
Backtest directly on the chart
Custom session times
Custom intervals and timeframe period
Market and volume profiles
Overall Market and volume profiles
Text-based TPO profiles
Configurable TPO start letter
Value area, Volume value area
Initial balance, Point of control
Fast access hot-keys

There are a number of different parameters available to alter, some of them include the configuration presets, interval periods, profile lines, overall volume, overlay charts, profile text, summary text, hotkey, and many others including backtesting mode, and calculating TP size factors.

Service Cost

The indicator can currently be purchased for $119, this will enable you to use it as much as you desire with no limitations if you would prefer, there is also the option to rent it, you can rent in on a monthly basis which will cost you $25 per month, or you can rent it for three months which will cost you $32.

There is a free version available too, this free demo will have some limitations which are unfortunately not mentioned on the website, so we are not fully clear what they are. It is always worth using the free demo version just to make sure the indicator does what you need it to do.

Conclusion

At the time of writing, there are 12 different user reviews, they have given the indicator and overall rating of 4.5 out of 5.

“Three stars due to lack of sufficient material explaining the purpose of each setting and how to use it. When you are selling a high-end indicator such as this with so many settings, you should at least provide sufficient documentation (with images) explaining how to use each setting and what its purpose is. You have provided some material, but for the most part, you have left it up to the user to figure out how to use the indicator. That’s not a professional way to do business.” – A 3-star review.

“Waste of money! Most of the time [it] doesn’t show anything, no profile at all. If it shows any profile it is with barely any detail. Highly overrated! Not recommended for purchase.” – A 1-star review.

“I bought this indicator together with the Daily Range indicator over a month ago so that I can give an honest review. I have to say….just as the Daily Range Indicator, Market Profile is amazing. I have this indicator currently running on 15 charts at the same time on an older PC and I have not once experienced a slowdown or freezing of MT4. The features in this indicator are truly amazing, which makes my life so much easier. Thank you Blahtech 🙂” – A 5-star review.

So there is a range of reviews, however, there are far more 5 out of 5 ratings than any other rating which is a good sign. The creator also seems to be replying to the majority of comments which shows that they are still supporting the indicator. As always, download the free version and send any queries to the developer, this way you can ensure that the indicator is right for you before you make a purchase or rental.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/13443

Tags Forex indicators, forex review, Forex Service

Forex Services Reviews-2

Complete Scalper EA Review

Complete Scalper was uploaded by Pavel Yakovlev to the MQL5 marketplace under the category of Experts. It was first uploaded on the 10th of March 2017, it has had a number of updates and was more recently updated on the 25th of August 2017 and is currently at version 1.18.

Overview

Complete Scalper is an expert advisor that has been created for the MetaTrader 4 trading platform, its main method of trading is to combine a number of strategies including Yogi EA, Scalper GBP, and Cross Scalper. The EA does not perform hedging, martingale, grid, arbitrage or any other strategy like that.

Some advantages of using the expert advisor:

Trading strategy for two new pairs – USDCHF and USDCAD.
High-risk diversification. The EA can work on 11 currency pairs, which allows reducing the risks in the long term.
It is a good deal. You get three Expert Advisors and two new pairs for trading at an affordable price.

There are a number of parameters that can be altered, these include things like commentary, magic numbers, pairs to use, whether to trade on Fridays, timeshift, stop losses, take profits, news filters, closing time, fixed lots, risk factor, and more.

There are also some recommendations from the developer:

Timeframe: M15.

Currency pairs: EURAUD, AUDCAD, EURCAD, EURCHF, EURGBP, GBPAUD, GBPCAD, GBPCHF, GBPUSD, USDCAD and USDCHF.

Account type: for best results, use an account with market execution of orders and low spread.

Risk: specified in the “Risk level” parameter. It can be changed by the user.

Service Cost

Complete Scalper can be purchased for $199 which will allow you to activate the EA up to 10 times. It can also be rented for a period of three months which will cost you $10 for that three month period.

There is a free demo available, there is no information about the limitations of the free version, however, we believe that it may only be used within the strategy tester of MetaTrader 4.

Conclusion

There are five user reviews for Complete Scalper, they have given the EA an overall rating of 3.5 out of 5.

“The EA works well on Pepperstone ECN and RoboFX ECN, you just have to be patient as it’s not an instant profit making machine and there will be some stop loses, but give it time and a few months is enough to see that ii does actually work and make good money (as the backtests show). I use a medium/conservative money management risk on all pairs. I’ve just extended my rent to evaluate over another 3 months as it’s going well so far on both accounts. This is a very good long term profitable night scalping EA. A+” – A 5-star review.

“2018 April 2: Seller is not available. Questions are not answered. Up to now only loser trades. 1 star, 2018 May 6: Seller is still not available. Some winners, some losers. Overall small profit. 2 stars, 2018 June 29: no profit“ – A 1-star review.

There is a mix of reviews, the main downside seems to be the lack of support, looking at the comment section, it seems that the developer has not been responding to them either which is a little concerning to see. For those that the EA works, it seems to be working well, but if you come across any issues it seems that it can be quite hard to get any support. We would advise that you try and contact the creator before purchasing, as you need to know that they are around should anything go wrong.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/21607

Tags Forex EA, forex review, Scalping

Forex Services Reviews-2

Line and Shadow Indicator Review

Post author By Forex Academy
Post date 6 May, 2020
No Comments on Line and Shadow Indicator Review

Line and Shadow can be found within the indicator section of the MQL5 marketplace, you can find a link to it below so as to avoid any possible confusion as to which indicator we are looking at. The indicator was first released on the 19th of January 2016 but its creator Sergei Konoplev, it received […]

Overview

The Line and Shadow indicator was created for MetaTrader 4, the indicator shows the trend direction and power on your charts, it will then plot entry and exit points for you the indicator contains the main lie and trend shadow zones.

The main settings available on this indicator:

Show_Shadow – show/hide shadows.
Show_ARROW – show/hide arrows and market entry points.
Show_max_Lines – show/hide the maximum possible profit lines.
ALERT – enable/disable trend change notifications in the terminal.
Email – enable/disable e-mail notifications.
Push – enable/disable push notifications.

https://youtu.be/j9aZLb0mnVA

Service Cost

The indicator currently costs $30 to purchase it outright, this will give you unlimited access without any restrictions. There is also the opportunity to rent it, it will cost you $10 per month to use it this way. There is a free demo version mentioned don the site, however, they do not mention what the limitations of this free version are.

Conclusion

There are currently three user reviews about this indicator, they are giving it an overall rating of 3.5 out of 5.

“Very good indicator, When you use correct value and all timeframes. Good feature is no repainting indicator” – A 5-star review.

“It works as described. Satisfied. Recommend ~!” – A 5-star review.

“The indicator is redrawn !!!” – A 1-star review (translated from Russian).

The 2 reviews were very positive with one being negative, there are also a number of comments in the comment section, the developer has been replying to the comments which are a good sign for the future customer service. As there aren’t many reviews we would highly recommend that you use the free version to make sure it works, or get in contact with the developer so you can be sure that it will do what you need it to do prior to making a purchase.

This Forex service is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/14048

Tags Forex indicators, forex review, Forex Service

Forex Services Reviews-2

Keltner MTF FX Indicator Review

Post author By Forex Academy
Post date 6 May, 2020
No Comments on Keltner MTF FX Indicator Review

Uploaded by Algoritmic Capital on the 25th of April 2019, the indicator can be located on the M!:5 marketplaces, there have not been any further updates since it was uploaded but it was initially uploaded as version 1.1. Overview The Keltner MTF is an indicator that was created for the MetaTrader 4 trading platform. Its […]

Overview

The Keltner MTF is an indicator that was created for the MetaTrader 4 trading platform. Its main purpose is to act as a channel indicator and will display price channels from different timeframes. So when looking at the H1 chart, you will also see the price channels for the M15 and H4 timeframes. The indicator can be used for both channel trading and for following the trend.

Service Cost

The Keltner MTF indicator will currently cost you $54 to purchase, there is also an option to rent it which will cost you $39 per month. A free demo version is also available to try out, the limitations of the free version are not stated on the site, it may only be usable with the strategy tester and not on live charts.

Conclusion

Unfortunately, there are no user reviews which means we cannot see how the indicator is working and if people are finding it useful, there are also only two comments which are both fro the developer themselves. Due to the lack of feedback, we would strongly suggest trying out the free version of the indicator, this was you can make sure that it will work for you, you could also send any queries that you have to the creator, this is a way of making sure that they are still actively supporting the indicator before you make a purchase or a rental.

This Forex service is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/38080

Tags Forex indicators, forex review, Forex Service

Forex Services Reviews-2

Ichimoku Scanner Dashboard Review

Post author By Forex Academy
Post date 6 May, 2020
No Comments on Ichimoku Scanner Dashboard Review

The Ichimoku Scanner Dashboard is an indicator that is found in the MQL5 marketplace. We have added a link to it below. The scanner was created by Abir Pathals and was first uploaded on the 1st of September 2019, it has had a few updates, the most recent update was on the 13th of March […]

Overview

The Ichimoku Scanner Dashboard is an indicator that was designed to be used with the MetaTrader 4 trading platform, it uses the Ichimoku strategy to help find the optimum trades.

Not all the options or features are really shown, however, there are sections explaining what is needed for a buy signal, some of them include things like if the price is over the minimum distance from Kumo if the use awesome oscillator setting is set to true and the is above and green, there are many other explained once you purchase the utility.

There is a how-to trade section:
“The best way to use this indicator is with Support and Resistance or TDI Indicator. Or any other indicator which might validate that trend is still strong and not near an SR Zone. In general set Stop-Loss near the Blue Kijun Sen (Base Line). Set Take Profit near SR line. Or wait for Stochastic to show that signal is oversold/overbought and possibly reversing. You can also use TK cross in the opposite direction as a Closing Trade signal.”

There is a large list of settings available for the indicator, they include things like using your own pairs, time frames, minimum distances, alert settings, font sizes, columns, refresh rates, min price, alert types, min Chikou distance, and many more options too.

Service Cost

The indicator will cost you $40 to purchase it outright and gain unlimited access, you are also able to rent it, the indicator can be rented on a one-month basis for $10 per month, you can also rent it or three months which will cost you $20 per three-month period. A free version is available, however, when looking through the site we could not see what the limitations of this free version were.

Conclusion

There are currently 5 reviews provided for the Ichimoku Scanner Dashboard, they are giving it an overall rating of 4.5 out of 5.

“Good for Ichimoku traders, out of 10 trades I lost only 2, it is good to take trade if all 3 time frame in same direction and plot trend line in lower time frame and enter the trade when price is retracing. Target is 5 pips less then swing high or low based buy/sell, stop loss based on your risk management, I used same strategy.” – A 5-star review.

“It doesn’t fit my own strategy that I use with ichimoku, so I don’t use the alerts, but the screening and fast scanning is amazing, the panel is very good looking. it works flawlessly, the documentation and tutorial video covers everything you need to know. great work 🙂” – A 5-star review.

“Great scanner. Works well if you understand Ichimoku and know how to configure it.” – A 4-star review.

So the reviews are all looking very positive which is a good sign, they are showing that it does what it is meant to and clients are getting value out of it, as always, we would recommend downloading and trying out the free version, just to make sure that it is right for you.

This Forex service is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/41711

Tags forex review, Forex Scannner, Forex Service

Forex Services Reviews-2

Happy Sun Forex EA Review

Post author By Forex Academy
Post date 6 May, 2020
No Comments on Happy Sun Forex EA Review

Happy Sun EA is an expert advisor from the MQL5 marketplace, we have provided a link to it below just in case there are any other expert advisors with similar names. The expert advisor was first uploaded to the MQL5 marketplace as version 3.5 by its creator Sergey Belov on the 14th of November 2019, […]

Overview

The Happy Sun EA is an expert advisor for the MetaTrader 4 trading platform, it uses the breakout strategy when opening orders. All trading will be done through the use of pending orders and entry points are located at the minimums and maximums unless excluded by filters.

The expert advisor is optimized to be used with the EURUSD pair you should also have leverage levels of at least 1:500. It is also recommended that you have a deposit of at least $2,000.

Plenty of parameters are available to change, some of them include the risk, fixed lot sizes, whether to stop on Fridays, take profit levels, the depth of search, min delta, min order interval, maximum orders, lot multipliers, slippage, text colors, magic numbers and more.

Service Cost

The expert advisor will cost you $60 to purchase it outright, unlike many experts on the MQL5 marketplace there is no option to rent it so purchasing it outright is the only option available. There is also a free demo version, but the details and limitations of that version are not known and not stated on the website. It could be worth downloading to try out though.

Conclusion

The Happy Sun EA currently has 7 reviews which give it an overall rating of 3.5 out of 5.

“No new posts from the author. Went missing in action from consistent posts in comments to 0 posts in comments. Not showing any forward guidance to users in such a way leaves a distaste in my mouth. It blows your account. It’s a breakout system that does work on 5mins charts. But forward live tests, results are otherwise.” – A 1-star review.

“I have been running on a live cents account with a balance of 30 000 cents. 10.33 % increase in 6 days with low DD. Very happy! Quick response from Sergey with set files. Get this while it’s cheap! Very underpriced.” – A 5-star review.

“It showed promise in the beginning, but MC occurred in the short Demo test I conducted. Even the developer’s official monitoring account MCd today. Needs improvement to prevent growing drawdown and MC risk.“ – A 2-star review.

There is a mix of reviews, some good and some bad, one of the revies is about the developer going missing, however, he has commented on the expert advisor a few days before writing this review so he is still around, we would suggest trying out the free version before making a purchase, just to make sure it is the right expert advisor for you.

This Forex service is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/42593

Tags Forex EA, forex review, Forex Service

Forex Services Reviews-2

Gap Professional EA Review

Post author By Forex Academy
Post date 6 May, 2020
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Gap Professional can be found within the Experts section of the MQL5 marketplace, it was first uploaded to the marketplace on the 4th of March 2020 by its developer Vadim Zotov. It has since received an update, the latest update was on the 23rd of March 2020 and is currently at version 1.2. Overview Gap […]

Overview

Gap Professional is an expert advisor that was created for MT4, it is based around patterns of closing gaps in price movements and requires a minimum account balance of just $10.

The EA will look for movements in currencies and the gaps which are created due to high movements or pauses in the markets like the weekends. The robot will try to trade these gaps and the large jumps in prices that come with them.

Some recommendations from the developer:

-The robot can be used to trade on any accounts. Preferred accounts with 5-digit quotes, low spread, and high speed. The leverage of the account is preferably not less than 1:500.

-Optimization overtime is not required if market parameters do not change. However, when switching to other brokers, especially with an increase in the spread, optimization may be necessary.

-New set-files will be posted here on the ‘Comments’ page (see link below).

There are plenty of options available too, these include comments, magic numbers, language, which days to trade, maximum spreads, size of the gap allowed, the coefficient of taking profits, tick criterion, lot selection, fixed lots, stop losses, and many more.

Service Cost

The Gap Professional EA can be purchased for $250, this will get you up to 10 activations, there are also options to rent the EA, you can do this on a monthly basis which will cost you $150 per month, you can also rent it for three months which will cost you $200 for that time period.

A free demo version is also present, there are no details about it such as its limitations, so we do not know what they are or how the free version will function. There is a good chance that it can only be sued with the strategy tester within MT4.

Conclusion

There are currently four reviews available for the Gap Professional EA which have given it an overall rating of 5 out of 5.

“I love this Idea, was looking this for while !” – A 5-star review.

“I like this robot because the strategy it uses is based on crowd psychology and is always true no matter how the market changes. After a trial period, I decided to buy it to use with my real account and received very enthusiastic support from Vadim. I will continue to update the effectiveness of this EA.“ – A 5-star review.

The reviews are all very positive which is good to see, there are also some comments, all of them are from the developer, the last one was in 2020 so this shows that they are still active in supporting the expert advisor. As there aren’t many reviews or comments, you could always contact the developer before purchasing just to make sure that it will do what you need it to do.

This Forex service is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/46687

Tags Forex EA, forex review, Forex Service

Forex Services Reviews-2

FFx PinBar Setup Alerter Indicator Review

Post author By Forex Academy
Post date 6 May, 2020
No Comments on FFx PinBar Setup Alerter Indicator Review

FFx PinBar Setup Alerter can be found within the indicators section of the MQL5 website, it was uploaded by its creator Eri Venturi-Bloxs on the 27th of March 2014. It has not received any updates and so it still at its original version of version 1.0. Overview FFx PinBar Setup Alerter is an indicator that […]

Overview

FFx PinBar Setup Alerter is an indicator that can be sued with the MetaTrader 4 trading platform. It was created to five your entry, profit targets, and stop-loss targets.

The indicator comes with a number of options:

-Entry suggestion – pips to be added over the break for the entry

-Minimum candle size – to avoid too small candles

-3 different options to calculate the SL – by pips, by ATR multiplier or at the pattern High/Low

-3 different options to calculate the 2 TPs – by pips, by ATR multiplier or at Risk/Reward

-Offset the dashboard – any place on the chart

-Remove the suggestion once the price reached the SL line

-Lines extension away from the current candle

-All colors changeable – Background, text, Buy/Sell, entry and TP/SL

-Alert when a setup is found – sound / popup / email / push notification

Service Cost

The indicator can be purchased with a one-time payment of $12, this allows you to activate the indicator up to 5 times and there are no other limitations. There is no option to rent it but a demo version that can be used with the strategy tester within MT4 is available to use for free.

Conclusion

The indicator has an overall rating of 4.5 out of 5 which was given to it by 8 user reviews.

“Awesome indicators….just needs to be able to show historical would be a great help.” – A 5-star review.

“Brilliant indicator! Early days, but it has a 80% hit rate when used in conjunction with Fibonacci ratios on H4 for forex and commodities.” – A 5-star review.

7 out of the 8 reviews are all very positive indicating that the indicator is doing what it is intended to do. There are a lot of comments that the developer has replied to in a very prompt manner, showing a good level of customer support. The most recent comment was from 2018 so it has been a while, due to this we would suggest sending any questions that you may have to the creator of the indicator, this way you can be sure that it will still be supported would you decide to purchase it.

This Forex Indicator is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/3734

Tags Forex indicators, forex review, Forex Service

Forex Services Reviews-2

EA Volcano Review

EA Volcano is currently located within the Expert section of the MQL5 marketplace, it was developed by Oleg Pavlenko and was first uploaded to the marketplace on the 6th of March 2020, it received its most recent update on the 5th of April 2020 and is currently at version 2.4. This EA can be accessed […]

Overview

EA Volcano as the name suggests is an expert advisor that can be used with the MetaTrader 4 trading platform, it was designed as an EA that will enter into the markets during trends by using built-in trend indicators. The description indicates that the EA does not use some of the riskier strategies such as martingale or grid strategies. It will close out trades using take profits or when the trend reverses.

When adding the EA to the chart, it will add two new panels onto the chart window which can be used for opening and closing orders, the two panels can help you to trade manually, semi-automatically, or to help the EA with drawdowns by hedging positions.

The EA was developed to work with the EURUSD currency pair and on the H1, H4 or D1 timeframes, this is what it has been optimized for but it can still work with other currency pairs, it just may not be quite as effective. It is also recommended to have a balance of at least $100 and leverage from 1:500.

There are also plenty of parameters and settings available, these can be changed to alter the way that the EA functions. Some of the available options include the language used, maximum spread, maximum slippage, to use notifications, which timeframes to use, the moving averages method to use, take profit and stop loss levels, whether to use fixed lots, the maximum number of open orders or trades, trailing stops, colors, fonts, and man more options are available.

Service Cost

The EA can be purchased outright for the cost of $50, this is a single payment that allows you to activate the Ea up to 5 times. Unlike many of the other EAs on the MQL5 marketplace, there is no option to rent this EA so purchasing it is the only option available. There is a free demo version available, but this can only be sued with the strategy tester within the MT5 platform and not on a live account.

Conclusion

The EA Volcano currently has 5 user reviews which gave given it an overall rating of 5 out of 5.

“Very very good EA and Oleg have strong patience and assistance!” – A 5-star review.

“I just bought it, in the tests very well, we will see now live” – A 5-star review.

“Excelente EA , recomendado.” – A 5-star review.

So the reviews are all very positive which is a great sign that it is performing how it was described. The comments within the reviews also speak about the good support being offered by the developer, this is reiterated within the comments section of the site as there are plenty of comments that the creator has been replying to promptly, again, another great sign as to the sort of support that you will receive should you decide to purchase this EA.

Tags Forex EA, forex review, Forex Service

Forex Services Reviews-2

Directional Forex Robot Review

Post author By Forex Academy
Post date 6 May, 2020
No Comments on Directional Forex Robot Review

The Directional Forex Robot is a creation from Forex Robot Trader which is a site that has created a large number of robots before. Overview The Directional Forex Robot is designed to be used the MetaTrader 4 trading platform and is designed to detect large directional pip movements early on. Some of the listed features […]

The Directional Forex Robot is a creation from Forex Robot Trader which is a site that has created a large number of robots before.

Overview

The Directional Forex Robot is designed to be used the MetaTrader 4 trading platform and is designed to detect large directional pip movements early on. Some of the listed features include:

Works on ALL Forex currencies
Works on ALL timeframes
Works with Metatrader 4 charting software
Works with 4 or 5 broker digit pricing automatically
Comes with all custom indicators, expert advisor, and templates
You can close out any trade manually without disrupting the robot
The robot has optional trailing stop loss capabilities built-in
Automatic money management built-in
Adjustable inputs “applied price types” and “moving average modes”
All text and color objects are user adjustable

The statement of how the robot works is as follows: “The Steinitz HAS MTF Directional Robot version 1.7 uses the same Heiken Ashi Smoothed indicator but it has completely different algorithms for making buying and selling decisions. This robot that we are featuring here waits for trends to develop on multiple time frames before getting in the market. It other words this robot places trades in the direction of the underlying trend(s) and stays in until the trends start to reverse.”

Some results have also been posted on the site. We will briefly look at the past three months which are as follows:

January 2020: $36,323
February 2020: $17,420
March 2020 up to the 14th: $14,177

These are impressive figures which would make anyone happy, which seems to be the angle that Forex Trading Robot is going for. Looking at the March results in a little more detail, there is a profit of just over $14,000 *( at the tie of writing) and a relative drawdown of just $500. Those are incredible figures, especially during this time of heightened volatility (Coronavirus outbreak). Many expert and professional traders are struggling but this trading robot is having no issues at all, that should be a big red flag, to begin with. The results have also not been verified by an independent site such as My FX book which means that there is nothing preventing the results from being altered by the owners.

Service Cost

The current cost of the robot is $49.00, this is a 75% discount on the original price of $199.00. All robots on this website seem to have a starting price of $199.00 and then an added discount, so we believe that this current price of $49.00 will not change.

Conclusion

There aren’t any user reviews on the site, so we had to look elsewhere around the internet in order to find some user reviews of the software.

“Out of the box robot from Don is a waste of time and your money!”

“Well I ran the software live and all I had were losses. O don’t get me wrong I loved the software and like Don also…but proof is in the pudding. I am starting to believe that some people are meant to get money easy (those are the ones with great reviews…and the rest of us who no matter how hard we try: we just lose.”

As you can see, the reviews aren’t looking great, this once again leads us to believe that the results being shown are not exactly the right ones. We would advise some caution when using this robot due to the number of negative reviews that can be found around the internet.

This Forex trading robot can be found at https://www.forexrobottrader.com/forex-robots/directional-robot

Tags forex review, Forex Robot, Forex Service, Trading Robot

Forex Services Reviews-2

Copier4Fee Advanced Trade Copier Review

Post author By Forex Academy
Post date 6 May, 2020
No Comments on Copier4Fee Advanced Trade Copier Review

Copier4Fee Advanced can be found within the utility section of the MQL5 website and marketplace, we have added a link below to it too. https://www.mql5.com/en/market/product/11502 The expert advisor was created by Vladimir Tkach and was first uploaded on the 11th of September 2015, it has been updated a number of times, the most recent update […]

Copier4Fee Advanced can be found within the utility section of the MQL5 website and marketplace, we have added a link below to it too.

https://www.mql5.com/en/market/product/11502

The expert advisor was created by Vladimir Tkach and was first uploaded on the 11th of September 2015, it has been updated a number of times, the most recent update was on the 5th of February 2020 and is currently at version 7.6.

Overview

Copy4Fee Advanced is a utility and expert advisor for MetaTrader 4, it has been designed to copy trades from a signal provider to receiver (slave) accounts. You are also able to copy trades in the opposite direction. The utility can be selected to copy various different options such as only negative or positive trades, to limit the slippage and more.

There is plenty of settings available to change, they will allow you to slightly alter the way that the expert advisor works. You can change the mode of the copier, the prefix/suffix, slave number, copy with a reversal, recopy closed trades, to copy stop losses, to copy take profits, to multiply a lot of copied deals, to use fixed lot sizes, to show last events and many more options.

The video below explains more about the benefits and use of this Forex tool:

Service Cost

The expert advisor can currently be purchased for $50, this will give you unlimited access to the expert, if you do not want to purchase it, you can also rent it, you can rent it on a monthly basis which will cost you $15 per month, you can also rent it for a year which will cost you $30 for the years use. A free demo version is available, this will allow you to test it out, it will have some limitations but we do not currently know what the limitations are.

Conclusion

At the time of writing, there are 19 reviews available for the Copier4Fee Advanced expert advisor, they are giving it an overall rating of 4.5 out of 5.

“This is a great tool! It works as expected and very reliable. Also the additional features are great and give me a huge flexibility to handle the copied trades. Vladimir is very responsive and answer all questions, and even better: He is always open for improvement ideas, like I asked him now. You see my request in version 7.6 With this, C4F gives you a great Drawdown control, which even EA’s do not gives you. Extremely thanks Vladimir!” – A 5-star review.

“Exceptional support! My broker was changing comments of trades from server side which is breaking EA’s functionality and the author provided great support to solve my problem. He spent time and money to solve it. I have never experienced such kind of customer support from anyone or any company in my whole life. You can %100 trust him.” – A 5-star review.

So the vast majority of the reviews are all giving it 5-stars which is a real positive, there are also over 200 comments and the creator of the expert advisor is doing a great job trying to reply to them all, this can give an indication to the sort of support at you will receive if you decided to purchase the expert advisor. Even though everything seems really positive, we would highly recommend that you download and try out the free version, just to make sure that it has the features you need and that you are able to get it set up correctly.

Tags forex review, Forex Service, Trade Copier

Forex Services Reviews-2

Be the Best Forex EA Review

Post author By Forex Academy
Post date 6 May, 2020
No Comments on Be the Best Forex EA Review

BeTheBest is an expert advisor that can be found on the MQL5 marketplace, there is a link to it below so you can see exactly which expert advisor we are looking at.

https://www.mql5.com/en/market/product/42933

Nauris Zukas the creator first uploaded this expert advisor on the 24th of October 2019, it has been updated a few times, the most recent update was on the 10th of March 2020 and this brought the expert advisor up to version 4.0.

Overview

BeTheBest is an expert advisor that can be sued with the MetaTrader 4 trading platform. The expert advisor is based on an indicator called the TrendImprovement Pro indicator, the expert adviser was designed to use this indicator and to make it into an automated trading system.

There are two ways to use the expert adviser:

AutoSettings = true – in this mode, the expert is prepared to work on a 1-hour chart (1H). In this mode, any parameter changes will not affect results. The expert opens positions only at the beginning of the 1H bar. Charts above 1H will not give correct results, because if a signal from the indicator appears, the expert will wait for a new bar to open positions.

AutoSettings = false – allows you to work with your own parameters on any chart.

There are a whole host of settings available that can alter the way that the expert advisor works, some of these include the maximum number of history bars, the averaging period, the RSI averaging period, loss rate percentage, price action filter, maximum lot size, risk value in lots, magic number identifiers, and more.

Service Cost

The expert advisor will cost you $399 to purchase, it is quite expensive but once purchased you will have access to it indefinitely. If you do not want to purchase it, there is also an option to rent it, you can rent it for one year which will cost you $199. There is a free demo version available. However these free versions often have a limitation added to them, but the website does not indicate what the limitations could be.

Conclusion

There is just one review available which has given the expert advisor a 5-star review.

“Update: 12-Jan-20, One month and my live account in profit by about 30%. Thank you! Good backtest results.”

As there is just the one review available, we would highly recommend that you download and test out the free version, this will give you a better understanding of the way the expert advisor works, but will also ensure that you are able to get it up and running properly before making any actual purchases.

Tags Forex EA, forex review, Forex Service

Forex Services Reviews-2

Devilfish Version 1.8 Forex EA Review

Post author By Forex Academy
Post date 5 May, 2020
No Comments on Devilfish Version 1.8 Forex EA Review

The Devilfish EA is an expert advisor that can be found on the MQL5 store, we have linked it below just so there is no confusion with any other expert advisors with a similar name. https://www.mql5.com/en/market/product/43169 The current version of this expert advisor is version 1.7 and was last updated on the 28th of February, […]

The Devilfish EA is an expert advisor that can be found on the MQL5 store, we have linked it below just so there is no confusion with any other expert advisors with a similar name.

https://www.mql5.com/en/market/product/43169

The current version of this expert advisor is version 1.7 and was last updated on the 28th of February, 2020.

Overview

The Devilfish expert advisor has been designed to work with MetaTrader 5, and so currently only works with that single trading platform. It is designed to work with high levels of volatility, but there isn’t much more information being provided about the expert advisor.

The features and requirements of the Devilfish EA have been listed below:

Minimum account deposit: $ 150
No configuration required
Accounts: Netting, Hedging
Currency pairs: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCHF, USDCAD, USDJPY
It works on hourly bars, not demanding on the quality of Internet connection
Works in the strategy tester in the “open prices only” mode
It does not use super short trades (Scalping)
It does not use martingale or averaging

Service Cost

The full price of this expert advisor is $54, you are also able to rent it which will cost you $20 per month. There is also a demo version available, however, there are some limitations to the account t such as not opening up trades on a Wednesday, there is also a profitability decrease of 20% compared to the full version.

Conclusion

There are a few different reviews available on the site, some positive and some negative.

“I don’t know why some people post great reviews but not post the real trades, I’m using more than one month, but has not good performance, I understand the volatility but the EA is not performing, usually Mikhail takes a lot of time to answer too” – That is a one-star review.

“Great job very good recommend”. – A 5-star review

“This week on USDJPY trade, the profit was USD 100+, why it does not close the order? Now from 100+ to losing position. I backtested from 03-03-2020 and the result was very good and all orders closed. But my real result now got 4 open orders all losses for many days already. What’s wrong?”. – Another one-star review.

So there are very mixed reviews, we would suggest testing out the demo to see how it functions before purchasing the full product.

Tags Forex EA, forex review, Forex Service

Forex Services Reviews-2

Blahtech Supply Demand Indicator Review

Post author By Forex Academy
Post date 5 May, 2020
No Comments on Blahtech Supply Demand Indicator Review

Blahtech Daily Range can be found within the indicator section of the MQL 5 marketplace, we have provided a link to it below so you can know exactly which indicator we are looking at. https://www.mql5.com/en/market/product/13147 The indicator was first uploaded by Blahtech Limited on the 8th of April 2016, it was most recently updated on […]

Blahtech Daily Range can be found within the indicator section of the MQL 5 marketplace, we have provided a link to it below so you can know exactly which indicator we are looking at.

https://www.mql5.com/en/market/product/13147

The indicator was first uploaded by Blahtech Limited on the 8th of April 2016, it was most recently updated on the 19th of June 2019 and is now at version 2.8.

Overview

Blahtech Daily Range is an indicator for the MetaTrader 4 trading platform, it will display the average daily range alongside the individual session ranges. It will show both a fixed range as well as dynamic range targets on the charts, these lines will show you when the average range is exhausted. This is best to use when you need to confirm entries or to set targets.

The main features of the indicator:

Daily Ranges
Session Ranges
Single or multiple ranges
Fixed and dynamic exhaustion chart lines
Highlighting of larger ranges
Configurable targets and highlight values
Backtest directly on the chart
Customizable alerts and messages
Selectable period for higher timeframes
Fast access hot-keys

There is also a vast number of inputs and parameters that can be altered to help make the indicator better suit your own requirements, some of these include display options such as the color of lines, time periods, sessions schedules, there are also options for the number of ranges, average range composition, projections, text colors, daily range start time, alerts, and more.

A video explaining how this Forex indicator functions is available on YouTube:

Service Cost

The Blahtech Daily Range indicator will cost you $48 to purchase it outright, giving you unlimited access to it. There is also an option to rent the indicator, you can rent it on a monthly basis which will cost you $10 per month, or you can rent it for 3 months which will cost you $12. There is a free demo version available, the limitations are not known but we believe that it will only work on a demo account.

Conclusion

There are three reviews for the indicator, they are giving it an overall rating of 4.5 out of 5.

“The indicator looks promising, but I am disappointed that there isn’t a user-friendly manual providing basic details on how to use its features. As a courtesy to customers, a “how-to” user manual should be included.” – A 4-star Review.

“I have been trading the markets for quite some years now but only recently stumbled about the concept of Average Daily Ranges and it has transformed my trading. This indicator is very good and does not slow down my PC at all as so many other indicators on MQL5. This is top-notch quality. The creator of this indicator really knows his stuff. He was also kind enough to make amendments or put further features in. Will ADR call intraday market turns every time? Of course not….will it add structure to your trading and increase your chances of success?…Absolutely! Good product that I can only recommend.” – A 5-star Review.

“This is a great indicator, and no intraday trader should go without it. Knowing the average ranges of any given time slice is invaluable information, and this indicator is well coded and visually appealing. Great work, I use it every day.” – A 5-star Review.

There isn’t a massive selection of reviews, but the ones that there are shown a very positive opinion towards the indicator, there are plenty of questions and the creator seems to be replying to them quickly which is a good sign that it is being actively supported. As always, be sure to check out the free version, while it may be limited, it will give you a better idea of how the indicator works and you can make sure that it is right for you prior to making a purchase.

Tags Forex indicators, forex review, Forex Service

Forex Services Reviews-2

FirstShot Forex EA Review

Post author By Forex Academy
Post date 5 May, 2020
No Comments on FirstShot Forex EA Review

FirstShot was uploaded by Evgeniy Zhdan to the MQL5 marketplace, it was first uploaded on the 29th of January 2018 and was subsequently updated on the 18th of February 2020 and is currently at version 2.2. Overview The FirstShot expert advisor can be used with the MetaTrader 4 trading platform, it was designed as a […]

Overview

The FirstShot expert advisor can be used with the MetaTrader 4 trading platform, it was designed as a trend scalper, the EA will not use martingale strategy. The strategy behind the EA will look at the volatility level changes within the markets over certain periods of time, it will look for times when there has been an unusual amount of movement and will then begin trading.

There are a few recommended timeframes and pairs:

GBPUSD on the M5 timeframe
EURUSD on the M5 timeframe
USDJPY on the M5 timeframe
Gold on the M5 timeframe

In terms of parameters, there are a few available to alter, they include things like the commend on orders, maximum risk, maximum orders, take profits, take losses, MA periods, to enable trailing stop,s the step of the trailing stop, max spreads, max slippage, magic numbers, and more.

Service Cost

The expert advisor can be a little expensive, it will currently cost you $950 to purchase it outright, giving you unlimited access. Many more expensive pieces of software on the MQL5 marketplace often have an option to rent it, but this option is not available with the FirstShot expert advisor.

There is a free demo version, however, the limitations of the free version are not known, it may only be usable on the strategy tester, due to the price of the expert advisor we would recommend downloading and trying out the free version regardless.

Conclusion

There are four reviews available for the FirstShot Expert Advisor, they have given the EA and overall rating of 3 out of 5.

“Great Advisor. I bet on Gold, Pound, and Euro. Trading is excellent! Who puts bad reviews? Learn to install advisers))” – A 5-star review.

“Great profitable adviser!” – A 5-star review.

“Rubbish” – A 1-star review.

So a mix of opinions but not a lot of information to work with, there are also 8 comments, the developer has been replying to a few of them but not all, the most recent comment shave not had any responses which could mean that the developer is no longer supporting it, we would advise you to send any questions you have to the creator if they reply it will mean that they are still supporting it and it will ensure that the expert advisor is right for you, do this before purchasing as it is a relatively expensive EA.

This Forex Indicator is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/27478

Tags Forex EA, forex review, Forex Service

Forex Services Reviews-2

EA Locker Forex Expert Advisor Review

Post author By Forex Academy
Post date 5 May, 2020
No Comments on EA Locker Forex Expert Advisor Review

EA Locker can be found within the MQL5 marketplace under the Experts heading. It was created by Vasiliy Strukov and was first uploaded to the marketplace on the 7th of November 2019, it has received a number of updates, the most recent update were on the 11th of December 2019 and this brought the EA […]

Overview

EA Locker was created for the MetaTrader 4 trading platform, its main purpose is to use a unique algorithm to be as stable as possible with any sort of market movement, the aim is to completely close positions in the lock. There isn’t actually any more information given than that.

There are some additional parameters that you are able to alter, these will slightly change the way that the EA functions. Some of the options include whether to open a new series of trades, starting lot sizes, whether to use money management, trailing stop starting pips and step sizes, take profits, stop losses, magic numbers, the percentage for drawdown protection and more.

Service Cost

EA Locker will currently cost you $45 to purchase outright, this comes with up to 5 activations and no further limitations. Unlike many EAs on the MQL5 marketplace, there is no option to rent it so the only way to get it is with the one-off payment.

There is a free demo version, no details around it are given on the site which leads us to believe that it may only be used with the strategy tester within the MetaTrader 4 platform.

Conclusion

There are ten user reviews available, they have given the EA Locker an overall rating of 5 out of 5.

“Vasiliy has been very responsive to queries. There are many EA authors out there but not many are as patient and knowledgeable as Vasiliy. Top author. Top product. Definitely 6 stars from me.” – A 5-star review.

“As always, great work !!! Thank you Vasily !!! In my opinion, the price for all EA of this master-developer is symbolic !!! With competent settings, it works with dignity, the main thing is not to be greedy !!! I purchased and did not regret all the development of Vasily and I do not regret it !!! I recommend to everyone !!!” – A 5-star review translated from Russian.

“Good EA with great return when set up with good risk management setting. ++++ Highly recommend” – A 5-star review.

So all ten reviews ar every positive giving the EA a very high score, there are also a number of comments, the developer has been replying to the majority of them in a prompt manner which shows that they are still there and willing to actively support the expert advisor and those that have purchased it. If you are still unsure, send the developer a message with any questions, this way you can make sure that it is the right EA for you before you make a purchase.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/43502

Tags Forex EA, forex review, Forex Service

Forex Services Reviews-2

CAP Equity Guard EA Review

Post author By Forex Academy
Post date 5 May, 2020
No Comments on CAP Equity Guard EA Review

The CAP Equity Guard EA can be found within the utility section of the MQL5 marketplace, we have provided a link below to the exact software that we are looking at. https://www.mql5.com/en/market/product/2117 The utility was created by Mohammed Ali and was first uploaded on the 20th of December 2016, it was last updated on the […]

The CAP Equity Guard EA can be found within the utility section of the MQL5 marketplace, we have provided a link below to the exact software that we are looking at.

https://www.mql5.com/en/market/product/2117

The utility was created by Mohammed Ali and was first uploaded on the 20th of December 2016, it was last updated on the 12th of November 2019 and is currently on version 4.2.

Overview

The CAP Equity Guard is an expert advisor for the MetaTrader 4 trading platform, it is used to constantly monitor the equity of the active trades with the aim to help prevent drawdown.

A number of expert advisors’ functions:

It monitors your entire trading account.
Easy to use! Just drag it to a random empty chart.
It will work perfectly if MetaTrader 4 restarts.
It can be workable with your existing EA.
Visual, mail, and push alerts.
It can remove your external EA after the target equity hits.

There is a range of settings available to alter the functionality of the expert advisor to suit your own needs, some of these parameters include stoping the EA, the profit type, profit value, loss values, when to close trades, when to delete pending orders, to stop after a trigger, to enable popups, to enable email or mobile alerts, slippage settings, and many more.

Service Cost

The expert advisor will currently cost you $30 to purchase it outright, this will give you unlimited access with no restrictions. There is also the opportunity to rent it, you can do this for $10 per month. A free demo version is also available, it will have some limitations but they are not currently known to us.

Conclusion

There are currently three reviews available for the CAP Equity Guard Expert Advisor, they are all positive giving 5 stars each.

“With the new update 4.20 (new setting “When Trigger Hit”) this is a very smart, professional, and useful tool. Good contact via mail with the developer with fast response.”

“very useful EA, you just need to fix the alert to work”

“This is the best net worth deposit suspension EA, thanks very much to the author for his great invention. You are the best, thank you very much.”

The reviews re all positive which is a good sign, there are also a number of comments, the creator is replying to them promptly which is good to see and also offers a dedicated email address for support queries. As always, we would highly recommend that you download and try out the free version of the expert advisor, even with the limitations, it is a way to test it out and to ensure that it does actually do what you need it to do.

Tags Forex EA, forex review, Forex Service

Forex Services Reviews-2

Double Divergence Scanner Indicator Review

Post author By Forex Academy
Post date 5 May, 2020
1 Comment on Double Divergence Scanner Indicator Review

The Double Divergence scanner was made available in November 2019 by the creator Jan Flodin. Flodin has created a vast selection of pattern scanners and dashboards that have extremely good reviews online and the indicator we are reviewing today is no different. After having multiple updates and improvements made, Flodin is currently offering version number […]

Overview

This indicator’s main function is to identify when divergence occurs between the price and one/two or three indicators/oscillators. This multi oscillator is able to identify both classical/regular and hidden divergences. The indicator is customizable as it has RSI and MA trend filters which enable users to filter out the strongest setups.

Another advantage is that the indicator writes signals onto a file that can be used by an Expert Advisor for those interested in Auto Trading. Users can also choose between setting only the main indicator/oscillator (only receive alerts when there is a divergence on the selected oscillator/indicator), setting both the main and second/third indicator/oscillator + the time frame for the second/third divergence or setting both the main and second/third indicator/oscillator and leave the default value Current as the second timeframe (receive alerts when there is a double divergence on each time frame selected by the user).

Some other features that this indicator has to offer are; the ability to monitor all symbols that are in the user’s market watch window simultaneously sends real-time alerts when divergences are identified and an interactive panel. This indicator can detect divergences on a number of indicators/oscillators including; MACD, Stochastics, OsMA, and CCI amongst others.

Service Cost

This indicator comes at a price of $39 for those looking to purchase it, or it can be rented out for $12 a month. Fortunately, traders can test out this indicator and its functions free of charge on the free demo that is available.

Conclusion

The Double Divergence Scanner has a number of positive reviews online from users that have been using the indicator for quite some time. One user said, “I love trading divergence and to me a double divergence is the perfect opportunity to confirm”. The creator is continuously improving this product by taking note of user comments and recommendations. We highly suggest checking this indicator out if you are looking to trade divergence!

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/29221

Tags Forex indicators, forex review, Forex Service

Forex Services Reviews-2

Market Profile Volume Relative Accumulation Indicator Review

Post author By Forex Academy
Post date 5 May, 2020
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The Market Profile Volume Relative Accumulation Indicator was launched back in 2016 by creator Sergey Efimenko. Over the years Efimenko has released a vast number of products for traders with some of them having very positive reviews whilst on the other hand, some were not that well received. The same goes for this particular indicator we will be looking at today, whilst some users found it very useful, others felt it was not an indicator worth purchasing. Read this review to determine whether investing in this indicator would be beneficial to you and your trading.

Overview

This indicator, that is meant to be used on the MT4 platform, displays the conditional price tick volumes that are added over a set time interval. Users can adjust a number of different parameters including the length of the displayed price bands, the step of price-volume distribution, graph colors, the lines style used on the charts, and users can also add object descriptions on the price levels.

The most recent version available of this indicator, version 1.3, has seen an update to the algorithm for adding volumes.

Service Cost

The Market Profile Volume Relative Accumulation Indicator can be bought for $30 or users can choose to rent it out for $10 yearly, which is quite cheap. There is also a free demo that is available for customers to test out the indicator before actually purchasing it.

Conclusion

The reviews for this indicator are quite varied, whilst one user commented that this indicator is a convenient indicator to use, another mentioned it is ‘useless are there is no money back graph’. On the other hand, the creator seems to be very in tune with the user’s comments and he does try to adapt and take in user comments to improve this indicator. If you’re interested in what this indicator has to offer, try out the free demo and test it out yourself to determine whether it is useful for you and your style of trading.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/15009

Tags Forex indicators, forex review, Forex Service

Forex Services Reviews-2

ACPD Auto Candlestick Indicator Review

Post author By Forex Academy
Post date 5 May, 2020
No Comments on ACPD Auto Candlestick Indicator Review

ACPD Auto Candlestick is an indicator for MetaTrader 5 that can be found on the MQL5 marketplace, there may be other indicators with a similar name so we have included the link so there is no confusion as to which indicator we are reviewing. https://www.mql5.com/en/market/product/677 The current version of this indicator is version 1.0 and […]

https://www.mql5.com/en/market/product/677

The current version of this indicator is version 1.0 and it has received no updates since going live on 30th January 2013.

Overview

The ACPD Auto Candlestick is an indicator designed to work with the MetaTrader 5 trading platform.

The main features of this indicator:

Determining 40 reversal candlestick patterns by their main parameters; it displays over 40 signals based on these models.

Each signal is displayed with an arrow above or below the last candlestick in a model, the direction of the arrow indicates the forecast direction of movement of the chart.

The indicator includes 10 patterns based on one candlestick, 10 patterns based on two candlesticks, and 20 patterns based on three candlesticks. Depending on the number of candlesticks in a pattern the caption text has a different color (can be set in the parameters).

Each caption of a pattern indicates its name, the strength of the “S” signal (calculated in percentage terms using an empirical formula) that shows how close is the pattern at an ideal one, and the trend coefficient “T” (calculated on the basis of three candlesticks using a scoring system) that shows how close it the trend to an ideal one.

As mentioned there are over 40 different candle patterns available on this indicator, these include:

Hammer
Hanging Man
Inverted Hammer
Shooting Star
Spinning Top
Doji
Long-Legged Doji
Gravestone Doji
Doji Dragon
Doji Four Price
Engulfing
Harami
Harami Cross
Piercing Line
Dark Cloud Cover
Doji Star
Meeting Lines
Kicking
Homing Pigeon
Matching Low
Morning Star
Evening Star
Morning Doji Star
Evening Doji Star
Abandoned Baby
TriStar
Upside Gap Two Crows
Unique Three River Bottom
Three White Soldiers
Advance Block
Deliberation
Three Black Crows
Identical Three Crows
Two Crows
Three Inside Up
Three Inside Down
Three Outside Up
Three Outside Down
Three Star In The South
Stick Sandwich

There are also a lot of parameters that can be altered, some of these include buffer candles, colors for down and up arrows, test sizes, box colors, and more.

Service Cost

The indicator currently costs $50 to purchase outright, you are also able to rent it on a monthly basis and will cost you $10 per month to do that. There is a free demo version available, however, we are not sure what the limitations to this demo account are, but would always suggest downloading and testing it out.

Conclusion

There is just one review available for this indicator, it is a 3/5 star review.

“Would have been a good idea to have provided a visual indication as to whether the recognized candlestick pattern is by convention indicating indecision, bullish/bearish trend reversal or continuation trend in the market. Very good app for associating the name with the visual appearance of the candlestick patterns provided for by the app.”

As there aren’t too many reviews available, we would recommend checking out and using the free demo version just to make sure it has the functions that you need and that you are able to successfully set up the indicator to work as intended.

Tags Forex indicators, forex review, Forex Service

Forex Services Reviews-2

ACE Oscillator Adx Plus Double Keltner Bands Review

Post author By Forex Academy
Post date 5 May, 2020
No Comments on ACE Oscillator Adx Plus Double Keltner Bands Review

ACE Oscillator Adx plus Double Keltner Bands can be found on the MQL5 marketplace, we have provided a link to the indicator below. https://www.mql5.com/en/market/product/5781 The indicator was uploaded by Alberto Cejudo on the 1st of September 2014, it was uploaded as version 1.1 and has received no further updates. Overview ACE Oscillator Adx plus Double […]

ACE Oscillator Adx plus Double Keltner Bands can be found on the MQL5 marketplace, we have provided a link to the indicator below.

https://www.mql5.com/en/market/product/5781

The indicator was uploaded by Alberto Cejudo on the 1st of September 2014, it was uploaded as version 1.1 and has received no further updates.

Overview

ACE Oscillator Adx plus Double Keltner Bands is an indicator for the MetaTrader 4 trading platform, the indicator is an Oscillator that is based on ADX Crosses and also the Doubly Keltner Channels Crosses too.

The main set of features for the indicator:

-The colored histogram shows D+/D- crosses on-trend (green up/salmon down or without trend (white) based on ADX main (over ADXon level -ie. 24-).

-Signals (arrows) shows high probability orders (long/short) based on D+/D- crosses.

-Color line (green/salmon) shows ADX main less ADXon level (ie: ADX main – 24) for trend purposes (trending in/out).

-Signals (horizontal gross lines) on level +20/-20 indicate the first derivation of KC band (k shift) is crossed, and signal (gross lines) on level +30/-30 indicates the second derivation of KC band (n shift) is crossed too.

There are also a number of different parameters available, some of them include the ADX period, limits for ADX trending, MA periods, ATR periods, k shift, n shift, and more.

Service Cost

There is not the opportunity to purchase this indicator outright, instead, you will be required to rent it on a monthly basis and will cost you $10 per month. There is a free version available. However, the limitations of this free version are not stated on the site and are unknown to us. Even so, it may still be worth downloading it to try out.

Conclusion

There is only one review available which is giving the indicator and overall rating of 5 out of 5.

“Convenient” – A 5-star review.

The review doesn’t give us a whole lot of information apart from the fact that it most likely works, due to there being no other reviews or comments, we would strongly suggest that you download and try the free version, you could also contact the developer if you have any questions that way you can be sure that it will do what you need it to be froe you rent it.

Tags Forex indicators, forex review, Forex Service

Forex Services Reviews-2

Abiroid GMMA Trend Scanner Dashboard Indicator Review

Post author By Forex Academy
Post date 5 May, 2020
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The Abiroid GMMA Trend Scanner Dashboard can be found on the MQL5 marketplace. There may be others with similar names so we have provided a link at the end of this review to the exact service we are looking at. The indicator was uploaded by its creator Abir Pathals on the 22nd of May 2019, […]

The indicator was uploaded by its creator Abir Pathals on the 22nd of May 2019, it has been updated a few times with the latest being on the 18th of March 20209, the indicator is now at version 1.7.

Overview

The Abiroid GMMA Trend Scanner Dashboard is an indicator designed for the MetaTrader 4 trading platform. The indicator works by finding food trades using the GGMA method as a base and then the TDI method to verify the trends.

How the scanner finds trades:

-When short GMMA crosses Long GMMA upwards it will wait for some bars (customizable) for TDI to show a strong BUY trend.

-When short GMMA crosses Long GMMA downwards it will wait for some bars (customizable) for TDI to show a strong SELL trend.

There is also a host of settings that can be changed to slightly alter the way that the indicator works and displays its information. Some of the settings include the pairs to use, the preferred time frames, alert settings, font sizes, colors, and more.

Service Cost

The Abiroid GMMA Trend Scanner Dashboard can be purchased for $40, this will give you unlimited access to the indicator, it can also be rented, you will be charged $10 per month for the monthly rental or $20 for three months. There is a free version available, however, the limitations of the free version are not currently known to us.

Conclusion

There are just three reviews available for this indicator, they are all giving it a 5 out of 5 ratings.

“Best one!”

“Great Product!”

“Useful Indicator. Outstanding Customer service.”

The last review also pointed out the customer service, looking at the comments, the creator is replying to comments (although there aren’t many of them) which is great. As with any indicator or expert advisor, we would highly recommend that you test out the free version prior to making a purchase, his way you can make sure that it suits your needs and that you are able to get it all set up and working correctly.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/38747

Tags Forex indicators, forex review, Forex Service

Forex Services Reviews-2

Resistance and Support Zones Indicator Review

Post author By Forex Academy
Post date 5 May, 2020
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The Resistance and Support Zones Indicator was published back in July 2016 by Filipe Acerbi, a creator who has other products available such as the Price Pressure indicator. A few months after being published, the Resistance and Support zones indicator was updated and it now offers its 1.3 version. Keep reading to find out more […]

Overview

This indicator makes use of a mechanical approach to recognize resistance/support zones and simultaneously assess their level of strength resulting in a clear indication of which price zones are more important to the trader than others. According to Acerbi, the creator, this indicator was created to try and eliminate subjectivity rules when drawing support/resistance zones.

The price action can perform a breakout or a reversal when it reaches a particularly important price zone and this creates great trading opportunities. To be able to do this, the indicator is programmed to search for tops and bottoms to build the support/resistance zones. Those making use of this indicator can set the top/bottom parameter themselves. Apart from recognizing these resistance/support zones, this indicator also assesses the strength level of each price zone identified.

The strength of these zones is measured by analyzing the price action when the market reaches that particular price zone. Price zones with higher levels of strength means that price actions will correspond powerfully to this price area. The level of strength and weakness for each zone is outlined on a chart. Traders making use of this indicator can also apply a Strength Level filter and as a result, the indicator will smooth out the weaker price zones.

The indicator uses a number of criteria to define the level of strength of each price zone such as; how many times the price reacted strongly to the specific price zone in the recent past, how many times the price zone worked as a barrier to the price advancing and also how many times the price used this area as a support. For those who feel that the set-up is a bit too busy, they can manually turn off/on any specific price zone by clicking on the checkbox.

This indicator has a number of key features apart from those we’ve already mentioned such as; it works on every symbol and timeframe, it can be used in conjunction with higher time frames, price zones can be compared and traders can turn their focus onto the stronger ones and it also has accessible buffers for EA developers.

Service Cost

This indicator can be purchased for $50 and it is also available for rent at $10 a month. Those interested in trying out this indicator before purchasing it can do so by downloading the free-demo, this is only available to those who have the MT4 platform already downloaded onto their device.

Closing

An online review that we found stated that this indicator is not worth the $50 as similar indicators are available for free, however, we also found some comments which praised this indicator. It would be a good idea to test out the demo version to determine whether this indicator could be beneficial to your trading or not before spending the money.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/17525

Tags Forex indicators, forex review, Forex Service

Forex Services Reviews-2

Tipu Candles Pattern Indicator Review

Post author By Forex Academy
Post date 4 May, 2020
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The Tipu Candles Pattern was made available by Kaleem Haider in January 2016. This product is built on the Japanese technique of charting that has been around since the 17th Century. Haider has a number of successful products available such as the Tipu Trend Dashboard and Tipu Heikin Ashi Panel, which have been very well received by traders in the past. At this moment, traders can purchase or rent version 1.10 of this Tipu Candles Pattern Indicator.

Overview

The Tipu Candles Pattern Indicator uses the candlestick pattern class by Metaquotes however it has been re-written to suit MQL4 and it has been combined with the panel class written for the Tipu Panel. Some of the main features of this indicator include; a visual display of the last candle of the pattern as well as the age of the pattern, a number of alerts that are customizable such as; push alerts, email alerts, on-screen alerts and Buy/Sell alerts and its supports Multi Time Frame Candle Patterns.

The main task of this product as a pattern recognition indicator is to visually mark patterns, along with their age, on a chart to make it easier for traders to take notice and act upon specific indications.

This product is very customizable with a number of parameters to set such as; Bearish/Bullish/Neutral Pattern colors – allows traders to choose the color that will be used to mark the chart, Box Line Style/Width, Max Candles to Check, Signal Setting, time frame setting and also a number of alerts that can help traders stay on top of all the market movements that might affect their trades.

Service Cost

Traders can purchase this Indicator for $30 and it is also available for rent at an affordable $10 per year. If you want to test this product out without spending any money, there is a free demo available to all traders that would like to see the product in action.

Conclusion

From what we could see, the overall feedback for this indicator is quite positive and it seems to work very well with the Tipu Trend Indicator when this is combined with high probability patterns such as Englulfing. A common disadvantage that seems to be limiting customers from purchasing and using this product is the fact that it is only available in English for the time being. If you’re interested in finding out more about what this indicator has to offer, download the Demo Version and test it out for yourself.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/13428

Tags Candlestick pattern, Forex indicators, forex review

Forex Services Reviews-2

Shepherd Safety EA Review

The Shepherd Safety Expert Advisor was published in September 2017 by the well-known creator Alexander Nechaev. Nechaev has over ten products available and all of these products have very high ratings online, including the EA we will be looking into today. This product has had a number of updates and it is currently on version 4.0 that has added filters and updated processing of the advisor panel buttons. Based on user reviews we found online, we highly suggest that you read through this short article to find out if this product can help you trade more efficiently and successfully.

Overview

The Shepherd Safety EA is compatible with the MT4 platform and it is suitable for any instruments and any timeframes. The main functions of this product are; opening and maintaining new market orders, turning unprofitable orders into profitable ones by using an internal loss handling algorithm and trade filtering. If for some reason, the additional order opened by the utility does not result in a profitable trade, a Stop-Out is provided. Users can choose to use this product as a supplement to their trading strategies or as a self-operating trading system.

Service Cost

The cost of this product is relatively cheap, especially when taking into consideration the positive reviews left by users. If you’re looking into investing in this expert advisor, it will cost you $30 to purchase it or you can choose to rent it out for $10. The creator has also included a free demo for those who would like to test the product out before purchasing or renting it.

Conclusion

The feedback for this product is overwhelmingly positive. Some comments left by users are “I trade manually with this tool and I can say I have no doubts about its powers”, “For $30 it’s a present, Actually, it’s an insane deal for this price” and “I can’t believe how good this EA is, if you are struggling as a manual trader then this is the perfect tool for you!”. Apart from positive comments regarding the product itself, users also commend Alexander Nechaev for his creativity and the interest he takes in ensuring his products are the best that they can be.

If you’re interested in starting using an EA to help you with your manual trading, we believe this product can be highly beneficial, especially at the relatively low price tag it currently comes with!

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/25418

Tags Forex EA, forex review, Forex Service

Forex Services Reviews-2

EA Prototype Reverse Review

Post author By Forex Academy
Post date 4 May, 2020
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The Prototype Reverse Expert Advisor was made available in September 2019 by the creator Svyatoslav Kucher. Kucker has an extensive list of available products ranging from indicators to expert advisors. The EA we will be looking at today has not had any updates made since 2019 and unfortunately, there are no reviews about it at the moment. Read through this review to get a better idea of what this Expert Advisor does and how it can help you increase your profits when trading.

Overview

The Prototype Reverse EA uses order averaging to avoid losses when prices move in the opposite direction from the initial entry. The EA basis its entrance according to what happened in the first order, ie, if the first order is closed at a profit, the next order is opened in the same direction in the hope of achieving the same results and vice versa; if the first order is closed at a loss, the next order is opened in the opposite direction.

There are a number of parameters that can be set by the users including; language, the maximum number of open orders at one given moment, the take profit value in points, the percentage of margin, the width and style of the lines and also the ability to delete the order history from the price chart amongst many others. This EA is extremely customizable and you can find the full list parameters on the website.

Service Cost

The cost of the Prototype Reverse EA is $35 for purchase or $15 monthly. Users can also choose to test out the free demo which is available before investing in this product.

Conclusion

Unfortunately, there are no user reviews or comments regarding this product at the moment, and from 46 people that downloaded the free demo, only 5 of them decided to purchase it. If you think this EA can help make your trading more profitable, we suggest downloading the free version to try it out first hand and determine whether it can be beneficial for you.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/42060

Tags EA, Forex, forex review

Forex Services Reviews-2

DSZ Mini Charts Indicator Review

Post author By Forex Academy
Post date 4 May, 2020
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The DSZ Mini Charts Indicator was created by Dariusz Szewczyk back in June 2016. Szewczyk has two other similar indicators available for purchasing however they do not seem to be very popular amongst traders. This indicator can be used on the Metatrader 4 platform and it has so far only had one update meaning that users can currently purchase version 1.2 of this indicator. Read through this review to determine whether this could be useful for you and your unique trading style.

Overview

This indicator’s main function is to display a bar chart for specific symbols at any given time period. It is mainly used to implement a top-down investment approach which is an investment analysis technique that first looks at the macro picture of the economy and then looks at the smaller factors in even finer detail.

The DSZ Mini Charts available have a number of interesting features including unique statistical bands, the elapsed time count, specific information about orders, the option of rounding numbers, saving and loading graphic objects, up to nine charts per row and pivot support and resistance levels.

Users can also customize the charts in a number of ways including the style and colors of the charts, color schemes for the volume and the price, and an adjustable symbol and timeframe for every chart.

Costs

This indicator can be purchased for $39 or it can be rented out for $10 for one month, $19 for three months, or $29 for six months. There is also a free demo available for those wanting to test it out before purchasing or renting it.

Conclusion

Although the Demo version of this indicator has been downloaded more than 100 times, only 10 traders have decided to purchase it. Unfortunately, there are no ratings or reviews available for us to share with you so for those of you who would like to find out more about what this indicator can offer, we suggest that you download the free demo and check whether these mini charts can be beneficial to you and your trading.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/16299

Tags Forex, Forex indicators, forex review

Forex Services Reviews-2

Critical Support and Resistance Panel Indicator Review

Post author By Forex Academy
Post date 4 May, 2020
No Comments on Critical Support and Resistance Panel Indicator Review

The Critical Support and Resistance Panel was published back in June 2016. The creator, Wang Yu, has published over 50 indicators in the past and most of them seem to be well-received traders.

This particular Panel indicator has only had one update that was done after one month of its launch, so users can now download version 2.0 of the Critical Support and Resistance panel that can be used on the MetaTrader 4 platform.

Overview

The Critical Support and Resistance Panel is an intuitive graphic tool that can help users to monitor closely and manage critical support and resistance price points quickly and easily. All the information can be viewed on one panel making it easy to follow and take action at the right moment. Support and Resistance levels are used to identify price points on charts where, for a variety of reasons, the probabilities favor a reversal or a pause of a prevailing trend.

This indicator was designed to help traders monitor and take full advantage of critical support and resistance areas such as pivot support 1/2/3, pivot resistance 1/2/3, daily/weekly/monthly pivot, and daily open.

This indicator alerts the user once prices move close to these support and resistance warning areas that the users themselves can adjust beforehand. Apart from receiving a notification, users will also see the indicator panel change its color to red to make it more noticeable.

With these features, users will be informed and make the right decisions at the right time without having to constantly monitor charts all day long. To minimize the number of alerts users will receive, once notification of a particular support and resistance zone is sent, the next alert will be sent after 5 minutes to avoid numerous alerts being sent continuously that can be irritating for users.

Here are the main three features of this indicator; the ability to adjust the warning range for each type of critical support/resistance, the ability to select which critical support/resistance is to be used (if the user does not specify this, by default, all are selected) and the ability to adjust the position of the indicator panel.

Cost

Customers wanting to purchase this indicator can do so for $10. Unlike many other indicators available, this one cannot be rented out. Luckily there is a free demo version that can be tested before actually purchasing it.

Conclusion

Currently, there are no user reviews that we can share with you so we suggest any of you who would like to test this indicator out to download the free demo to see if this panel’s alerts and notifications can be beneficial to your trading.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/17122

Tags Forex indicators, forex review, Forex Trading

Forex Forex Brokers

PaxForex Review

PaxForex is an online foreign exchange broker based in Saint Vincent and the Grenadines and is registered with the Financial Services Authority (FSA). They ere founded by a team of professional traders who have extensive knowledge in trading forex, stocks, options, and CFDs. They aim to offer high-quality customer services, trading conditions and overall conditions for their clients. We will be looking into the services of an offer to see how they compare to the competition in this very saturated and competitive market.

Account Types

There are four different account types available, each based on the deposit value that you need to deposit with. They each come with their own conditions and features that we have outlined for you below.

Cent Account:
This account requires a minimum deposit of $10 but a recommended amount of $100. The base currency can be in USD and can be leveraged up to 1:500. The account comes with spreads starting from 2.4 pips, the lot size is 1,000 units and the minimum trade size is 0.0001 lots. The account has access to forex pairs, Gold and silver. There is no maximum trade size, the margin call level is set at 55% and the stop out level is set at 20%. You can get a VPS for $25 per month when using this account.

Mini Account:
This account requires a minimum deposit of $100 but a recommended amount of $500. The base currency can be in USD, EUR or GBP and can be leveraged up to 1:500. The account comes with spreads starting from 2.4 pips, the lot size is 100,000 units and the minimum trade size is 0.01 lots. The account has access to forex pairs, Gold, Silver, and shares. There is no maximum trade size, the margin call level is set at 10% and the stop out level is set at 5%. You can get a VPS for $25 per month when using this account. A swap-free version of this account is also available.

Standard Account:
This account requires a minimum deposit of $2,000 but a recommended amount of $5,000. The base currency can be in USD, EUR or GBP and can be leveraged up to 1:500. The account comes with spreads starting from 2.4 pips, the lot size is 100,000 units and the minimum trade size is 0.01 lots. The account has access to forex pairs, Gold, Silver, and shares. There is no maximum trade size, the margin call level is set at 10% and the stop out level is set at 5%. You can get a Free VPS when using this account. A swap-free version of this account is available. it comes with a personal manager and priority trade execution.

VIP Account:
This account requires a minimum deposit of $10,000 but a recommended amount of $50,000. The base currency can be in USD, EUR or GBP and can be leveraged up to 1:500. The account comes with spreads starting from 2.4 pips, the lot size is 100,000 units and the minimum trade size is 0.01 lots. The account has access to forex pairs, Gold and silver. There is no maximum trade size, the margin call level is set at 10% and the stop out level is set at 5%. You can get a VPS for $25 per month when using this account. A swap-free version of this account is available and it comes with a personal manager.

Platforms

MetaTrader 4 is the only platform offered by PaxForex, and it is a good platform to have. It is one of the most well known and use platforms offering a whole host of features that can help with your trading and analysis. It is also accessible as a desktop download, mobile application or web trader. Some of its other features include a simple and user-friendly interface, a customizable view.

You can put any group of colors for every forex chart, three major types of forex charts: Bars, Candlesticks and Line Chart, nine timeframes, more than 50 built-in indicators that help traders during the analyzing process, ability to use as many indicators on one chart, multiple chart setups, automated trading through expert advisors, and real-time data export via DDE protocol.

Leverage

The maximum leverage available to all four accounts is 1:500. The leverage that you want can be selected when opening up an account. You can get the leverage changed on an already open account by contacting the customer service team with the change request.

Trade Sizes

The Cent account is a smaller account, 1 lot is equal to 1,000 base units, so the smallest size in the platform being 0.01 lots equates to 0.0001 lots. The Mini, Standard, and VIP accounts have full 100,000 unit lot sizes. The minimum trade sizes on the accounts are 0.01 lots and they go up in increments of 0.01 lots. There is no maximum trade size but we would recommend not trading over 50 lots in a single trade due to execution and slippage issues. We do not know what the maximum number of trades you can have at any one time is.

Trading Costs

All four accounts use a spread based system so there is no added commissions on the accounts when trading. There are, however, swap charges which are fees charged for holding trades overnight. These can be viewed within the trading platform you are using. They are also available on the website under the contract specifications. The Mini, Standard and VIP accounts can also be used as an Islamic swap-free account where these swap charges are not present.

Assets

The assets on PaxForex have been broken down into a number of categories, we have outlined these below along with the instruments within them.

Forex:
EURUSD, GBPUSD, USDCHF, USDJPY, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, NZDJPY NZDUSD, USDCAD, USDSEK, EURSEK, USDNOK, USDDKK, EURDKK, USDMXN, EURMXN, USDZAR, UERZAR, EURNOK, USDPLN, EURPLN, USDSGD, EURSGD, USDHUF, EURHUF, AUDDKK, AUDPLN, AUDSGD, CHFSGD, EURHKD, GBPDKK, GBPNOK, GBPPLN, GBPNZD, GBPSEK, GBPSGD, GBPZAR, NZDCAD, NZDCHF, NZDSGD, SGDJPY, USDHKD, USDTRY, EURTRY.

Metals:
Just Gold and Silver are available to trade.

Cryptocurrencies:
Bitcoin, Ethereum, Ripple, and Litecoin are available for trading.

Shares:
There are plenty of shares available to trade, some of these include Apple, Cisco, Facebook, Google, Intel, Microsoft, and Alcoa.

Spreads

The spreads that you get depends on the account you are using, the Cent account has spreads starting from 2.4 pips, the Mini account from 1.4 pips, the Standard account 0.4 pips and the VIP account also start from 0.4 pips. The spreads are variable which means they move with the markets, the more volatility or lower liquidity will cause the spreads to grow larger. Different instruments will also have different spreads, so while the typical spread for EURUSD maybe 0.8 pips, it will be 2.5 pips for AUDJPY.

Minimum Deposit

The minimum amount required to open up an account is $10 which allows you to use the Micro account, the Mini account requires $100, the Standard $2,000 and the VIP requires a deposit of $10,000. Once an account has been opened the minimum amount required reduces down to $10 for all top-up deposits.

Deposit Methods & Costs

There is a wide range of methods available to deposit with. Some have fees attached to them while others do not. We have outlined the methods below along with any potential fees.

Neteller – 3.2% -3.7% + $0.29 min 1$
Bank Transfer – Bank commission
Credit/Debit Cards – up to $299 3.75%-8.5% +$0.5, above $300 – 0% fee
Skrill – 2.9% – 3.9% + 0.38 USD
Perfect Money – No fee
WebMoney – 0.8% fee
QIWI Wallet – 4% fee
FasaPay – 0.5% fee
Bitcoin – No fee
Ethereum – No fee

Withdrawal Methods & Costs

The same methods are available to withdraw. We have outlined them again with any fees that apply to them.

Neteller – No fee
Bank Transfer – Bank commission
Credit/Debit Cards – 5,5% (Min 10 USD)
Skrill – from 1% up to 3,9% + 0,35 USD
Perfect Money – 2.5% fee
WebMoney – 0.8% fee
QIWI Wallet – 1% fee
FasaPay – 0.5% fee
Bitcoin – 7% + 0.0006 BTC fee
Ethereum – 7% fee

Some of the fees are extremely high which could make it quite expensive to get your money out of PaxForex.

Withdrawal Processing & Wait Time

PaxForex will process withdrawal requests within 1 working day of the request being made. It will then take between 1 to 5 working days for the withdrawal to fully process, this will depend on the method used and the processing speed of the method such as your bank’s own processing times.

Bonuses & Promotions

There is only one promotion displayed on the promotion page but unfortunately, it has now ended. We will still outline if just so you can get an idea of the sort of promotions that may be offered. If you are after bonuses, then you could always contact the customer service team to see if there are any new ones coming up that you could take part in.

Labour Day 2019 Promotion:
Based on the amount that you deposit, you will receive the spread back on a selection of trades of your choosing.

deposit 500 $ – we will recover the spread of 4 trades of your choice
deposit 1000 $ – we will recover the spread of 10 trades of your choice
deposit 1500 $ – we will recover the spread of 15 trades of your choice
deposit 3000 $ – we will recover the spread of 30 trades of your choice

Educational & Trading Tools

There are a lot of options when it comes to education and tools, the first being a set of trading courses. These go over the basics of trading and can give you a good starting platform. There are infographics that give a little bit of information about trading, and there is also a glossary detailing different terms used when trading if you come across anything you do not understand you can refer to this page to learn what it means.

There is some fundamental analysis which seems to be updated regularly throughout the week. It can give you ideas on what to trade. Along with the fundamental analysis is some technical analysis, this is once again updated daily to help with your own analysis. There is a forex related blog and an economic calendar that details upcoming news events and any potential effect the news could have. The final section is a calculator that can help you work out costs, profits and other areas of your trades.

Customer Service

PaxForex is offering a few ways to get in touch with them. You can use the online form, fill it in and you should then expect a reply via email. They also provide you with a postal address, a phone number, and an email. You could always use a host of social media sites like Twitter to get in touch too.

Address: 1825, Cedar Hill Crest, Villa, Kingstown, St. Vincent and Grenadines
Phone: +44 2035040387
Email: [email protected]

Demo Account

You can open up a demo account using the form on the home page of the site. We, unfortunately, we do not have information about it such as the trading conditions or expiration times. The demo account allows you to test out the markets and strategies completely risk-free.

Countries Accepted

This information is not provided on the site so if you are thinking of signing up with PAXForex, you should contact the customer service team to ensure you are eligible for an account prior to opening one up.

Conclusion

PaxForex offers a range of accounts each with its own trading conditions. They all use a spread based system and so there are no commissions to worry about. The spreads on the Cent account are a little high while they are much more competitive on the top tier accounts. There are lots of ways to deposit and withdraw is good, but the fees are pretty high for both depositing and withdrawing. So while the trading is cheap, the funding is not. There are plenty of assets to trade which is good. You should always be able to find something available and there is some decent educational material for those just starting out. Our main concern is the high fees for funding, if you don’t mind them and can deposit enough to get a higher tier account then PaxForex could be a decent broke to use. If not, then we would suggest looking elsewhere for a slightly cheaper option.

Tags broker, Forex, forex review