FX Rapid EA Review

Mar 31, 2021 10:50 AM ET
FX Rapid EA Review

FX Rapid EA

Type

Robot

Price

$269 and $349

Strategy

Trend, Grid, and Martingale

Compatible Platforms

MT4

Currency Pairs

EUR/USD, NZD/USD, AUD/USD, and USD/JPY.

Timeframe

H1

Recommended Min. Deposit

$460

Recommended Deposit

n/a

Leverage

n/a

Trade length

One day

 

FX Rapid EA

FX Rapid EA presentation

FX Rapid EA is another trading solution that is powered by ForexStore. The presentation has few explanations of the robot’s features. Let’s figure out if the system is good to be used on a real account.

Trading Strategy Explanation

We tried to find out everything that would allow us to understand what the system we’re looking at:

  • The system works automatically on the account.

  • The robot is based on trend trading.

  • It trades only in the trend direction.

  • If there’s a drawdown, the system starts using a Grid of orders.

  • The system can Martingale if it needs to cover after losses.

  • The average trade length is one-two days.

  • It doesn’t use wide Take Profits.

  • There’s a drawdown control system.

  • It calculates Lot Sizes automatically based on desirable risks.

  • The system fits every broker.

  • It works under NFA and FIFO regulation rules.

  • The minimum deposit needed for trading is starting from $460.

  • FXRapidEA DUE trades on 2 currency pairs: EUR/USD, NZD/USD.

  • FXRapidEA QUATTRO trades on 4 currency pairs: EUR/USD, NZD/USD, AUD/USD, and USD/JPY.

Backtest Data Analysis

FX Rapid EA Backtest Data Analysis

There are many backtest reports. This one is AUD/USD on the H1 time frame. The tick data was picked for the period of 2017-2020. The modeling quality was 90.00%. The spread was three pips. An initial deposit was $5,000. The total net profit was $30,214,711.37. The Profit Factor was 2.44. The maximum drawdown was 49.81%. The robot has closed only 889 deals, with 61% of the win-rate for Shorts and 56% for Longs.

Live Trading Data Analysis

Trading Results

Myfxbook Account

Real (USD), FXOpen

Started

July 21, 2020

Deposit

$2000

Balance

$15,560.78

Gain

+678.04%

Daily

+0.82%

Monthly

+29.23%

Drawdown

18.25%

Profitability

2.11

 

FX Rapid EA Myfxbook

The robot runs two real USD accounts. This one is QUATTRO, but only two symbols are traded. The system works on FXOpen, trading automatically on MT4. The Track Record is not Verified. The account was created on July 21, 2020, and deposited at $2000. The absolute gain has become +678.04%. An average monthly gain is 29.23%. The maximum drawdown is 18.25%. The account is tracked by 69 users.

FX Rapid EA advanced statistics

FX Rapid EA has traded 337 deals with only 298.2. An average win is 33.55 pips when an average loss is -43.98 pips. The win-rate is 58% for Longs and 56% for Shorts. An average trade length is one day. The Profit Factor is 2.11.

FX Rapid EA trading results

The most-traded, as well as, the most profitable symbol is AUD/USD with 235 deals and $11,337 profits. 

FX Rapid EA trading results

The robot trades all day.

FX Rapid EA trading results

Friday with 85 deals is the most-traded day.

FX Rapid EA trading results

The robot works with low risks to the account balance. For losing 10% of it, it has to lose 17 deals in a row.

FX Rapid EA trading results

As we can see, the system is alive only because of Martingale.

FX Rapid EA price

The robot is powered by a Forex Store trading solution. It’s everything we know about it and the company behind it.

Pricing

FX Rapid EA pricing

There are two packages on the board: DUE and QUATTRO. The DUE pack costs $269 and allows trading two symbols. The QUATTRO pack costs $349 and allows running four symbols. Both packages include one lifetime license for any account, free lifetime updates, and the best 24/7 support.

Review Summary

Pros

Cons

  • Backtest reports provided
  • No team revealed
  • Real-account trading results provided
  • No settings explanations provided
  • Affordable pricing
  • Grid and Martingale don’t mentioned
  • Money-back guarantee provided
  • The robot is almost not profitable in pips
 
  • All profits are made by Martingale
 
  • No customer testimonials provided

Conclusion

FX Rapid EA is a scary system that combines Grid with Martingale to make profits. It looks it is not well-shaped because there were only 298 pips gained for nine months. It’s almost nothing. We’d like to note that the robot doesn’t trade all four currency pairs on the real account. The offer is well-priced. It’s supported with a 30-day money-back guarantee because it’s a Forex Store’s requirement.

Rating: 3/10


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