In this review we explain why you should be very careful with the Forex Fury trading robot.
What is Forex Fury
Forex Fury is an automated trading software designed for trading currency pairs on Forex. The robot supposedly is winning 93% of the trades it opens, so it will grow your account and make you money on autopilot.
The robot is compatible with NFA, FIFO and Metatrader. A lifetime license for one live account costs 229.99 USD, for two live accounts you will pay a one-time 439.99 USD fee.
Is it worth it, is Forex Fury a robot that really can make you money on autopilot?
Forex Fury red flags
During our research about Forex Fury we ran into some red flags that make this robot not trustworthy in our eyes. In this review we explain everything.
The official Forex Fury website displays trading results of the robot that are monitored by Myfxbook. But immediately you will notice something strange, if you have at least some experience with financial trading.
The equity curves in those charts are way too smooth and short, they are completely unnatural for Forex trading. Because in real responsible trading you just can’t have lines that are that smooth. You have to use some dangerous tactics to achieve such lines, like Martingale or extremely unfavorable risk to reward ratio (RRR).
And indeed, after reading lots of different reviews from users and analyzing Forex Fury’s Myfxbook results, we are pretty much sure that it is what they do.
Users say, and the charts seem to confirm that, that Forex Fury will open trades with small take profits and very big stop losses. This allows the robot to get a lot of profits in a row, which generates those smooth and nicely growing equity curves.
The big problem with this approach is that when you have to take a loss, which will inevitably happen, it will wipe out many of your profits. And when you have to take more losses in a shorter period of time, which will also happen sooner or later, they can wipe out your entire trading account.
Several Forex Fury’s users have confirmed that the robot is acting like this and when you look at the Myfxbook charts, a lot of the times you will see a dying period at the end where they seem to be just waiting to close open losses with minimum damage to be able to post nice looking charts on their website. This is why there is no continuation in their statistics, the robot only runs for a limited time before they come out with a “new” version.
Speaking of statistics, you know that you should always read disclaimers, right? In this document Forex Fury say that numbers you can see on their website are based on simulated or hypothetical performance results.
The inevitable conclusion is that results you see on Forex Fury’s website are not to be expected on a real trading account.
Another look at the results
Forex Fury claim that their robot can make you hundreds of percent in a year on just one currency pair. So theoretically it could make you rich pretty quickly.
The first thing we have to say is that we never heard of any real Forex investment company that would be able to make hundreds of percent yearly. So Forex Fury is better than the world’s best audited trading companies?
Secondly, Forex Fury is supposed to make you hundreds of percent per year, yet it costs only $230 lifetime? How does this make any sense? Should the robot really perform that well, people who created it would already be millionaires, they would not be selling it for a few hundred bucks, don’t you think?
Anonymous and probably illegal
People who are selling you Forex Fury are anonymous, they don’t give you any real contact information. This is another red flag.
It is allegedly sold by Rypax Inc., but no details about the company are given. But they say that the best time to contact them is between 8 AM and 7 PM EST. Which suggests they are based in the United States.
We believe that in order to be able to sell a trading robot that will trade with real money on behalf of people in the United States, you have to have an authorization from financial regulators. Which Forex Fury clearly has not.
This is why we believe that Forex Fury might even be an illegal trading robot. If you are considering buying it, we highly recommend that you consult it with your national financial regulator to see what they have to say about Forex Fury. In the past we have seen services like this one blacklisted by regulators.
How Forex Fury really works
Based on what we have seen in reviews from real users, we believe that Forex Fury is making money on non-refunded sales.
By that we mean that people who are behind this robot are selling it while knowing that it is losing money in the long term. But not all people who buy it will go through the process of a refund, which is limited by conditions imposed by Forex Fury.
So, even though it is a losing robot, not every buyer will ask for refund, which makes the profit of people who sell it.
Forex Fury review – Conclusion
Forex Fury will not make the profits it is suggesting on its official website, it is just impossible. We are pretty much sure that in the long term, the robot is losing money.
Making money in trading is not easy and don’t believe that a robot that costs 230 bucks will make you rich. The path to consistent profits in trading is long and hard, you can try it on a free demo account.
You can practice trading with virtual money. When you trade with real money, please be sure to understand the risks.