Learning how to trade profitably is not easy for all those who foray into Forex trading. Many traders lose huge amounts before they get the drift of it. But, with automated Forex trading software, even a newbie can see profits without losing big. Not all such trading software products are reliable. In this Forex Combo System review, thoroughly analyzed the trading software. The system claims of having easy setup, 24/7 support, and 100% automation. You will be able to get a candid idea of the suitability of the system with our detailed evaluation of the system, its strategy, and performance.
How Forex Combo System Works
With the claim of being a 100% automated system offering hands-off trade execution, this system is very easy to use. The setup takes less than 10 minutes. After buying the package, you need to download the system, install it, and begin trading on your MT4 terminal.
Two main currency pairs, GBP/USD and EUR/USD are compatible with this system. It is compatible with all brokers and with other expert advisor systems also. Other features include notifications on the open and close positions done via mobile and email push notifications.
While the vendor provides several backtests and verified trading results, we could not find any info on the developer of this system or the team behind it. No location address or phone number for contact is provided. This lack of transparency makes this system look unreliable.
Applied Strategies
Based on the vendor information, this system combines some of the best trading approaches. Scalping, stop-loss protection, trend detection, money management, and a few other popular approaches are used. While the approaches are mentioned, there is no elaborate explanation on how they are used for trading.
Backtesting of the system over ten years is given by the vendor. The strategy tester reports for the individual trading approaches and the combined strategies are given. Here is a screenshot of the strategy test report using combined strategies for a ten-year period beginning from 2007 up to 2018.
The test uses the M5 timeframe and has been done with 90% modeling quality. A drawdown of 32.59% and a profit factor of 1.75 are revealed for a deposit amount of $5000. While the results look appreciable, you need to remember that the results are from historical data so a similar future performance cannot be guaranteed.
Forex Combo System Trading Results
A couple of trading results verified by the Myfxbook site are posted on the official site. Here is a screenshot of one of the accounts.
From the trading stats of the demo USD account using the leverage of 1:500, we could see a profit percentage of 243.6 and a similar absolute gain percentage. A monthly return of 2.50% and a daily return of 0.08% are revealed from the stats. The drawdown at 9.16% is low indicating the risk used is not high. On a deposit of $352.70, a total of 865 trades have been executed from February 2017 up until March 2021. The profit factor stands at 1.25 and the lot size for the trading account is 0.02. Comparing the backtest reports and the demo account results we could see the drawdown and profit factor are less in the demo account than in the backtest report. We would prefer trading results on a real account for gaining a better perspective of the system.
Pricing & Refund
A single price package for this system is posted by the vendor. The system costs $137. This is a discounted price with the earlier price being $197. Features you get with the package include a single real money account. Four trading systems and a money-back assurance of 60 days. Other features include unlimited demo accounts, lifetime updates, access to the private members’ area, a user guide, and easy installation. When compared to many of the competitor systems, the price of this system looks affordable.
User Reviews
We found user reviews for this system on the Forexpeacearmy site. Find below a screenshot of the reviews.
From the reviews, we can find that the performance is not as good as claimed by the vendor. There are complaints about the updates and the refund not being provided. These factors show that the system is not as effective as the vendor claims it to be.
