Forex GBP AVENGER is a fully automated Forex EA with a team of experienced traders behind it. With more than 10 years of market experience, they help you earn stable profits while trading in multiple currencies, employing suitable risk management techniques. The vendor claims it is based on more than 8 years worth of rigorous testing and that it can adapt itself to market shifts.
Now, in order to judge the efficacy of the Forex EA, we need to conduct a thorough analysis of the website presentation, features, trading strategy, live trading results, pricing details, customer reviews, etc.
How Forex GBP AVENGER EA Works
The Forex GBP AVENGER official website is in dire need of an update and we can see several icons missing. And, the little information that is available is presented in a disorganized manner, so we can tell that it has been quite some time since the vendor last updated the website. There is a present video but it does not seem to play, and we couldn’t find any special features that the vendor has chosen to highlight.
Very little is offered by Forex GBP AVENGER in regards to vendor transparency, and we have no idea who the developers of this software are or where they are located. This Forex EA functions during the major European and American trading hours and it is hinted that a scalping strategy is applied.
We expected to find some information about the trading strategy used by Forex GBP AVENGER, but unfortunately, there is no such data on the official website. The website contains a lot of fluff and nothing as such is mentioned about the strategy except for the fact that Forex GBP AVENGER is a scalping bot. Now, many Forex traders are wary when it comes to investing in scalping bots since they have a history of not performing well in live trading scenarios.
It is mentioned that Forex GBP AVENGER is not an anti-trend robot and it does not use the Martingale strategy. The vendor has mentioned that the system has been created based on a decade’s worth of backtesting data, but they haven’t provided any real proof of this fact.
We fail to understand why backtesting data cannot be provided, considering the claim made is not false. Serious Forex traders will surely take this as a red flag since many of them consider backtesting data to be a vital factor while choosing a Forex EA.
Forex GBP AVENGER Trading Results
Forex GBP AVENGER has presented several FXBlue and Myfxbook accounts showing live trading results, but here we shall discuss the one that trades mainly in the GBP/USD and USD/JPY pairs. This particular account was launched in July 2019 and to date, it has generated a profit of $91.01 from deposits of $791.01.
We think the daily and monthly gains of 0.12% and 5.62% are quite decent and the drawdown of 7.18% is very low. A system with such a low drawdown always inspires confidence because it shows that there were very few losses from the investment. However, monthly analytics are not available for the year 2021 and we can see that the last trade was placed in August 2020.
Out of 287 trades placed through this account, 195 were closed in profit, which means the system won 68% of them. Although the Sharpe Ratio of 0.16 is a bit too low, the profit factor of 1.58 is quite standard for a Forex EA. This account has an average trade length of 8 hours and 39 minutes, while the average win is 12.88 pips/$1.27.
Pricing and Refund
Forex GBP AVENGER has only one pricing plan that costs $299 and with this, you get access to one real and one demo account. The vendor has mentioned that a different offer is available for those who need it. Moreover, a 30 days money-back guarantee is offered to all customers, and this tells us that the company is willing to stand behind its promises.
Although Forex GBP AVENGER has an account on the Forex Peace Army website, we couldn’t find any user reviews there or anywhere else for that matter. The absence of customer reviews confirms the fact that this Forex EA does not have much of a reputation as of now.