Forex Ezefx EA Review (EzeFX.com Scam?)

Review of the Ezefx EA
 

EA NameCurrency PairsTimeframeStrategyECN4&5 DigitsTake ProfitStop LossHome Page
Easy ForexEurGbp, EurUsd, UsdChfN/AN/AYesYesDynamic300-250www.ezefx.com

Performance (Ezefx EA Test Results)

License

forex Ezefx is sold for 25$ through Paypal

 

Forex Ezefx EA Strategy

 While we do think it is still very early to talk about the actual real money trading results, we have noted that the EA would close on average profit of below 15 pips.  Add the fact that the EA sets up a stoploss at 300 pips, makes the average Risk/Reward Ratio around 20:1

 

Recommended Brokers

FX Open and Iam FX are two brokers to consider when trading forex robots.

 

Conclusion

Before questioning the intentions of this EA’s Author. Lets assume that he does not realize that his EA is actually using a risk/reward ratio of 20:1, and that it could blow-up an account at any time. Lets look at the backtest he is providing us with. The Backtest is for less than 2 years period, and the reason why he is not showing any more backtest periods is probably because the EA does not show good results. Add the fact that the author does not allow refunds, and is selling through Paypal, makes us hesitant to approve this one for purchase.

Update (October 26, 2010): They are now showing an 11 year backtest with a relative drawdown of 30% and only $100,000 profit on a $10,000 deposit? I would have expected some better long-term money management that.

 

Safe To Buy?

NO!

The Ezef EA has not been approved for purchase.

 

Ezefx Overall Rating

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