TSFX is a forex robot that has been in the market for quite some time. As I was looking at its progress in Myfxbook, I couldn’t help but feel it’s slightly different than what other forex robots are doing. No, I am not implying it’s great. And I am not implying it’s not great either. I am just saying it has some features that might be interesting to you. And in this TSFX review, we’re going to uncover what those features are and how they can be beneficial to you.
In-depth TSFX EA Review
This forex robot is 100% automated meaning you don’t have an option of trading your account. It was created a couple of years ago but the creators are unknown. There’s no information that explains who they are or even their address.
Besides that, they don’t explain their market experience. But I did some research on user profiles on Myfxbook and it shows the user has 8 years since he joined. If that’s the owner behind this EA, then it’s created by someone with more than 8 years of experience in trading. And unlike other developers who are anonymous like this, the owners outline everything we need to know about the robot.
For example, they have added some of the accounts running on Myfxbook where we can see they’ve been running for more than 365 days. Some have been running for almost 3 years too and the progress seems sort of okay too.
How TSFX EA Works
TSFX uses the martingale strategy. Now that will probably raise your eyebrows but a closer look shows that while indeed their leverage is high, they’re quite conservative on position sizing for an account of that amount.
The maximum drawdown this account has experienced is 16.1% which is reasonable.
They trade mainly USDJPY but some other pairs such as USDMXN are traded too. And they use the M15 timeframe. Most trades aim for 10-20 pips and they last for 1 day on average.
This account I’m looking at has been running for 283 days since Oct 2018 and has generated a 64% profit during the period. The win rate hovers at 72% and a 5% monthly return.
Recommended Broker And Balance
So, TSFX recommends a minimum amount of $5000 to use this forex trading bot and says the more the better. It also has some forex brokers that they recommend for their clients and I must admit, it’s an attractive list.
Some of the brokers enlisted include IC Markets, Pepperstone, Admiral Markets, Alpari, Vantage among others. They recommend that the broker you use should allow hedging.
The leverage they recommend on your account is 1:500 or more. All their automated forex trading accounts had the leverage of 1:1000.
Pricing And Demo
TSFX doesn’t offer a demo account. All accounts offered are live. For $250 you get a license to 1 live account and for $500 you get licenses to 3 live accounts.
The price comes with free updates and support. There’s no information about refunds.
This forex EA despite being in the market for quite some time (2016) doesn’t seem to have been reviewed by customers.
Pros And Cons Of TSFX EA
1: I believe one of the main cons of this robot is how reclusive it is.
They don’t publicly say who they are and even contacting them is a hustle. In the pursuit to figure how to contact them, I had to fill a form from their website. I didn’t but if you want to contact them be sure to fill in the form and you may get a reply.
2: Another con is its martingale strategy. Most traders shy away whenever they hear that word.
3: It also lacks a demo account.
How can you backtest on your own if there’s no demo option? I believe one other flaw about this is the lack of customer ratings. It’s one thing for a company to show us its results. It’s another thing to see results from people like us.
1: Sufficient trading history.
Some accounts have been running for almost 3 years now so if we’re to look for their backtesting results, it’s safe to say the robot works fine.
2: It has a trial period.
They offer you a trial period for 14 days to asses the platform for yourself. I am inclined to say this is fair since they don’t offer any demo trading. The trial offer costs about $20.