Summary
The automated foreign exchange trading system known as Forex Flex was designed for use with the MetaTrader 4 and MetaTrader 5 platforms. This forex robot will automatically look for potential trade signals by scanning the charts contained inside the MetaTrader platforms. When the built-in algorithm discovers trading signals, the Flex EA will enter a trade on behalf of the user and then manage the position as it develops. Because of this, it is a completely hands-off trading robot that simply needs an initial setup that should not take more than a few minutes to accomplish if the instructions that are provided are followed. In the event that you have any questions or require assistance, the customer support team at Forex Flex is quite helpful and can be reached at any time. Since its first introduction in 2012, this specific piece of trading software has been widely regarded as one of the greatest trading robots that can be purchased commercially. There are numerous reasons for this, all of which will be covered in our exclusive Forex Flex EA Review that we are presenting.
Pros
• Can trade on multiple currency pairs
• Highly customizable settings
• Compatible with MetaTrader 4 and MetaTrader 5
• News filter
• Members forum
• 12 trading strategies in one
• Broker protection features
• Currency exposure filters
• Dynamic money management
• Multiple verified Myfxbook accounts
• 99% modeling quality backtests
Strategy
In order to maintain constant vigilance over the state of the market, the Forex Flex EA method makes use of virtual trades that are executed in the background. It will sit on the sidelines until the optimum entry opportunity arises, which will be determined by a combination of price action analysis and technical analysis. As soon as it identifies a suitable trading arrangement, it will automatically place and manage deals.
The default configuration will employ six simulated trades for each currency pair in order to analyze the current market conditions. If you reduce this number, the entry points you get will be less accurate; however, your trading frequency will increase. The opposite will occur if you increase this amount.
Due to the fact that the foreign exchange market is in a state of perpetual flux, it is essential that trading robots, such as Forex Flex, receive frequent updates. Because the software can automatically update itself from the server side, you can rest assured that you are using the most recent version available. Thankfully, this process is simplified for the user.
Features
The Forex Flex EA incorporates a number of features that are both helpful and novel, including the following ones:
• Optimized Settings Denotes that the device is ready to use right out of the box without the need for the user to fiddle with any confusing settings. It is as simple as loading it onto your charts and selecting the level of risk you are comfortable with according on your preferences.
• Lifetime Access to Free Flex EA Updates There is no need to worry about any recurring expenditures because you will always have access to free Flex EA updates. The creator of the software is continuously striving to further improve it, and users will automatically receive any upgrades. Regular updates could indicate that the robot is suitable for use under the existing market circumstances.
• Members Forum: There is a forum for discussing the Forex Flex EA program, where members may also exchange their settings, thoughts, and results with one another. The developer participates regularly in the discussion area and is eager to hear any comments or suggestions people may have.
• News Filter: There is a built-in news filter that works to prevent the robot from trading around large news releases, which can lead to increased market volatility and unstable trading conditions. These conditions can be caused by major news releases.
• Twelve Different Trading Strategies: You have access to a remarkable range of 12 trading methods that are tailored to a variety of trading styles and may be chosen at your discretion. There are strategies with a low risk, strategies with a medium risk, and strategies with a high risk available for selection.
• Money Management: The money management component of the Flex EA gives you control over the maximum drawdown, stop loss, and take profit levels, as well as the size of your holdings.
• Support for Multiple Currency Pairs Unlike the majority of forex robots, which only focus on a few different currency pairs, this piece of software can be utilized with any currency pair due to its adaptability, which is where it gets its term “flex.”
• Equity Trailing TP is one of the features that really sets the Flex EA apart from the competition. It is essentially a trailing stop function that seeks to lock in trades once they reach a specific point and then trail the remainder in an effort to try and maximize the profit possibilities. This function can also be utilized for manual transactions.
• DD Stoploss: This is a protection feature that will shut out all open positions should your account drawdown reach a set percentage. If your account drawdown reaches this percentage, your open positions will be closed.
• Session Filters: You have the ability to instruct the robot to trade during specific market sessions, such as the New York, London, or Tokyo sessions, or to refrain from trading during those sessions.
• Time Filters: Choose the days of the week and the hours of the day that the program will be active.
• Indicators: The Flex EA includes a wide variety of chart patterns and technical indicators that can be toggled on and off. These chart patterns and indicators include EMA crosses, TDI, Support & Resistance, Bollinger Bands, ADR, Stochastic, RSI, Candle sizes, Momentum, and many more.
• Indicator Closures: The software has the capability of being programmed to automatically close transactions based on the conditions of the indicators. Some examples include exiting all transactions on an exponential moving average (EMA) cross or when the relative strength index (RSI) reaches an excessive level.
• Hedging: Although not all brokers provide hedging and the vast majority of the offered set files do not require it, the option is available for those who have a requirement for it.
• Hide From Broker: You can prevent your broker from learning about the trading strategy that is being utilized by selecting this option and hiding it from them.
• Currency Filters: With this filter, you’ll be able to restrict how much exposure you have to a particular currency at any one time. E.g. trade a maximum 2 USD pairs at once.
Results
Let’s take a look at the Forex Flex EA results to see how well it has been doing now that we’ve discussed what the software is and how it operates. We will examine real results that have been validated by Myfxbook as well as historical results that have been derived via backtesting in the MetaTrader strategy tester.
Myfxbook Forex Flex EA Forex
You can see how the Forex Flex EA has performed over the years by looking at the several confirmed Myfxbook accounts that the creator released, which are located further down on this page.
Backtesting with the Forex Flex EA
In the screenshot that follows, there are a few Flex EA backtests that are displayed for your perusal. The fact that the robot’s modelling quality is 99% indicates that it underwent testing in the MT4 strategy tester using real tick data in order to produce the most accurate historical results possible.
Conclusion
Taking everything into consideration, the Forex Flex EA is one of the greatest forex robots that are now offered for sale when you take into account the length of time that it has been in development as well as the transparency that is provided via genuine verified Myfxbook accounts. The program incorporates cutting-edge technology and comes packed with a wide variety of cutting-edge features. It receives regular updates to ensure that it can continue to serve a useful purpose in the modern market. While the Flex EA comes pre-loaded with a large number of trading methods and set files, you also have the ability to tailor it to your individual trading approach. There is a dedicated forum where you can discuss your experiences with other traders, and the creator is there to assist you if you have any questions.
FAQ
What exactly is the cost of the Forex Flex EA?
Forex Flex comes with three different buying options, the cheapest of which is $399. The version of MetaTrader that you will receive (either MT4 or MT5) as well as the amount of licenses that are included are what differentiate each bundle. Each license for Forex Flex EA grants you the ability to use the software on one live trading account, while simultaneously providing you with limitless licenses for demo accounts. In addition, each of the three membership tiers will come with all 12 possible configurations of the settings, each of which will provide a new trading strategy that can be activated with the press of a button.
What sort of assistance with customer service does Forex Flex provide?
Email is the medium via which the developer communicates with customers to offer help. This indicates that you will be able to get answers straight from the person who has been working on the software since 2012 and as a result knows it completely inside and out.
When trading using the Forex Flex EA, who are some of the finest brokers to work with?
When it comes to forex brokers, there is no such thing as a one-size-fits-all solution. It actually depends on your budget, where you live, the funding choices you have, and any other preferences you may have. Having said that, Forex Flex is compatible with both the NFA and FIFO, in addition to being able to run on any MT4 or MT5 broker.
What is the lowest amount that must be in a trading account in order to use the Forex Flex EA?
To begin utilizing this trading software, you are not obliged to deposit any certain minimum amount. You should only risk what you are confident with and can easily afford to lose at any one time.
What is the policy regarding the Forex Flex EA refund?
If you are not satisfied with the program during the first thirty days of your purchase, you can get your money back.
Is the Forex Flex EA a fraudulent product?
The Forex Flex EA is not a fraud of any kind. Since 2012, the software’s creator has been putting in a lot of long hours in spite of the fact that this does not guarantee that it would provide positive outcomes. No automated trading system, regardless of how sophisticated it may be, can successfully anticipate market movements.
Is there a cost associated with using the Forex Flex EA?
You might spend many hours seeking for a free version of the Forex Flex EA that is being shared, but it is highly probable that the version you find will be out of date, unsupported, and could be hazardous.
How many different currency pairings does the Forex Flex EA trade simultaneously?
According to the creator of the software, it functions most effectively with the following currency pairs: GBPUSD, USDJPY, USDCAD, USDCHF, EURUSD, AUDUSD, EURJPY, EURCHF, EURGBP, and NZDUSD. Nevertheless, it is possible to trade it on any instrument.
What are the optimal parameters for the Forex Flex EA?
The default settings that come along with the Forex Flex EA are going to offer you with the best results. Nobody, not even the person who designed the Flex EA, will know more about it than they do. They would have invested a significant amount of time and effort over a long period of time in order to optimize the settings so that you wouldn’t have to.
I would like to adjust the settings of the Forex Flex EA.
You are free to experiment with your own settings, including the lot size, stop loss, take profit, and a variety of other parameters, provided that you have the necessary knowledge and experience. You might find it helpful to begin by putting your preferences through their paces on a demo trading account. Backtesting Forex Flex in the MetaTrader strategy tester with your own unique configuration of settings is another option for getting an approximation of the strategy’s success in the past.
In order to use the Forex Flex EA, what do I need to have?
Both the MetaTrader 4 desktop platform and the MetaTrader 5 desktop platform are required, in addition to an account with a forex broker. The majority of forex brokers will allow you to register an account with a minimal initial investment and provide free downloads of their MetaTrader software.
How much cash may I potentially gain by using the Forex Flex EA?
There is not the slightest bit of assurance that can be provided regarding the success or failure of any trading robot. Nobody can accurately forecast what will take place in the future because of the unpredictability inherent in market conditions. When using an automatic trading system like the Forex Flex Robot, you should make certain that you are aware of and prepared for all of the hazards that are associated with its use.
