RED FOX EA Review

Sep 13, 2021 08:18 AM ET
RED FOX EA Review

Red Fox Robot claims to provide steady growth of your capital and a low drawdown. The FX EA uses the aggressive and the low drawdown setting feature from which you can choose the feature you want. This fully automated FOREX robot is easy to install and uses smart indicators for its analysis.

A drawdown ranging from below 9% for the low drawdown setting up to below 15% for the aggressive setting is assured. The monthly profits for the settings range from 10% up to 48%. There is no info on the location, phone number, and other details of the vendor. Support is provided via email, social media, and live chat features.

RED FOX EA

Type

Fully-automated EA

Price

$266

Strategy

Market reverse price

Compatible Platforms

MT4

Currency Pairs

Multiple currency pairs

Timeframe

N/A

Recommended Min. Deposit

$1000

Recommended Deposit

$5000

Leverage

from 1:500

Trading strategy explanation

Features of Red Fox EA.

As per the vendor, this FX EA uses the market reverse price approach. Market analysis is carried out with custom indicators integrated into the EA. The FX robot is capable of using a low drawdown for its trades with the help of the low-risk feature. Manual settings or daily verification of the system is not necessary as it is a fully automated FX EA.

The strategy and recommendations for Red Fox EA.

Important features of this FX robot are automated lot size management depending on the funds in your account, a news filter to avoid trading on major market events, spread control to prevent trading in volatile market conditions, and a trading approach that does not use the Martingale principle. From the details provided for the approach used, we find the explanation of the strategy is vague. The lack of transparency raises our doubts regarding the reliability of the FX robot.

The minimum deposit recommended by the vendor for using this EA is 1000 of any base currency. Depending on the fund amount, the lot size is automatically set. As per the vendor, you can use 5 to 9 currency pairs simultaneously with this EA. Furthermore, the vendor claims that multiple indicators can be used on a single account.

Backtest data analysis

We could not find backtesting reports for this ATS. Although the vendor mentions past performance results, there are no strategy tester reports posted on the official site. While backtests do not predict a similar result in real performance, they help to assess the effectiveness of the approach. The absence of backtests raises a red flag.

Live trading data analysis

Trading Results

Myfxbook Account

Real (USD), Opoforex

Started

May 17, 2021

Deposit

$1000

Balance

$1292.27

Gain

29.32%

Daily

0.22%

Monthly

7.03%

Drawdown

38.55%

Profitability

78%

The vendor provides a real USD account using the Opoforex broker and the leverage of 1:500 on the Metatrader 4 platform. A few screenshots of the results verified by the myfxbook site are presented here.

The growth chart of a live real account of Red Fox EA.

Advanced trading stats of Red Fox EA.

From the above trading results, we can see a total profit of 29.32% and an absolute profit of 29.33% The daily and monthly profits are 0.22% and 7.03% respectively. A drawdown of 38.55% is present for the account started in May 2021 with a deposit of $1000. Of the total 605 trades, the profitability is 78% and the profit factor is 2.06.

The trading history reveals a lot size of 0.01 is used for the trades. From the data, it is clear that the profits are not high while the drawdown is very high, both of which indicate that the claims of the vendor are false.

Pricing

Pricing details of Red Fox EA.

This FX EA is sold for $226. The price is inclusive of one demo and one live license key, a guide for installation, and a 14-day money-back assurance. Compared to the price of other similar products in the market, the price is not expensive.

Customer reviews

While the vendor supplies user testimonials on the official site, they can be manipulated. We found a single review on the Forexpeacearmy site for the My EA Academy, which promotes this FX EA.

Customer complaining of losing a big amount with Red Fox EA.

From the above review, we can see the EA has resulted in a big loss even with the low-risk setting. The user recommends that this is a scam EA that fails to work in all market situations.

Review summary

Pros

  • Fully automated settings

  • Verified trading results

Cons

  • Lack of vendor transparency

  • A vague explanation of the trading approach

  • High drawdown in real trading results

Red Fox EA claims to provide stable profits with minimal risk. Our evaluation reveals that the claims are not true. The vague explanation of the strategy, failure to provide backtesting reports, a high drawdown in the real trading results, and negative user reviews confirm our suspicion that this is not a trustworthy expert advisor.

Rating: 5/10


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