Forex Paris is a new Forex robot released on 23rd March 2021 that claims to have a 99% win rate on a historical backtest. It uses a dynamic algorithm to analyze the market efficiently and close most trades in profits. In order to determine the true profitability of the system, a thorough analysis of its different components is necessary.
How Forex Paris EA Works
Forex Paris robot does not have an official website, and all the information available on it can be found on the MQL5 page. Here, the vendor has provided us with a brief but informative presentation, describing what the EA is about while also highlighting the introductory offer and the live performance signals.
We have a short section on the currency pairs and timeframes this robot functions on. A list of customizable input parameters is also provided, along with broker recommendation and backtest description. Finally, we have a few screenshots of backtesting results for different pairs.
This Forex EA is sold by Ruben Octavio Gonzalez Aviles, a Swiss trader who is also the CEO of Rubengaviles. We don’t know much about this person, except for the fact that he has developed systems in the past like Tokyo, Kyoto, Miami Static PQ, Cairo, etc. No other information is available on the company, and we don’t know if this person works alone or as a part of a team.
This robot works according to a dynamic and adaptive algorithm that allows it to open multiple trades in a week and close them on the same day. It does not use risky strategies like averaging, grid, smart recovery, and martingale. Stop losses and take profits are used for each trade and only one trade is executed at a time.
There are two distinct algorithms that are suited for the EUR/USD and GBP/USD pairs. The vendor mentions that you can use this robot to trade in all kinds of timeframes. It has a dynamic lot size functionality that lets it adjust the lot size according to the current balance. You also have the options of adjusting other parameters like Stop loss, take profit, max spread, max lot, magic number, trade comment, etc.
The vendor does not provide any information about the trading strategy used by this robot. There is no mention of the indicators used by the system, so we don’t know how it spots a profitable opportunity, or what techniques it uses for analyzing the market. Some Forex traders are very particular about strategy details, and the absence of information might deter them from buying this EA.
This backtest was conducted on the GBP/USD pair starting from January 2016 to March 2021. The trades were placed in the M1 timeframe and the modeling quality was 99%. An initial deposit of $1000 was made for this test, from which a total net profit of $6660.60 was generated. Additionally, it had an incredibly high win rate of 99.07%.
Forex Paris Trading Results
The vendor has provided us with a link to an MQL5 page where we can see the live trading performance of this Forex EA. Although the results look promising, we cannot consider this as authentic proof of the system’s performance, since it has not been verified by a third-party website. Seasoned Forex traders always look for live trading results that are verified by FXBlue and Myfxbook.
When you see a vendor sharing their trading results on websites like these, you know that they are not trying to hide any trades. Since the trader is unable to modify the trades on these websites, you can gauge the performance of the robot more accurately.
Pricing & Refund
Forex Paris is currently available for $349. This is part of an introductory offer and only 4 out of 10 copies will be sold at this price. The vendor has mentioned that the next price will be $399. You also have the option of renting the robot for 1 month at $199. No money-back-guarantee is offered by the vendor.
While there are some positive customer reviews for this robot on the MQL5 page, these cannot be considered authentic since the vendor could have paid the users to write them. Since there are no reviews on third-party websites, we can assume that Forex Paris does not have much of a reputation in the market as of now.