Forex Combo System is a 100% automated trading system that claims to have 10 years of proven Forex profits. According to the vendor, this robot can help reduce losses and it’s perfectly optimized for the market scenario of 2021.
The development team FXautomater is based in Seychelles, but we don’t have much information on it. We don’t have an official address and the identities of the traders and developers have not been revealed.
Forex Combo strategies and tests
You can use this robot to trade in currency pairs like EUR/CAD, EUR/AUD, GBP/USD, and EUR/USD. It is compatible with all brokers and it sends you regular notifications via email and push notifications about your trades. You can use it in combination with EAs.
Forex Combo System uses four strategies for trading the Forex market. The first one is a scalping strategy that takes a low-risk approach, generating small profits from each trade. Many experts consider scalping bots to be ineffective since it can take a long time before you accumulate sizable profits using this strategy.
The second strategy is trend-detection and it involves scanning the market for favorable trends. For the third strategy, the EA looks for market corrections at points where the trends are exhausted. Finally, there is the range detection strategy that trades in flat markets.
With each trade, Forex Combo System uses stop losses. It applies money management rules based on the trader’s risk profile and this leads to the automatic calculation of trading lots. According to the vendor, the EA avoids opening positions in volatile markets where the prices tend to fluctuate quite frequently.
Here we have the results for a backtest conducted on the GBP/USD pair from 2010 to 2018 using 90% modeling quality. Initially, the robot used a deposit of $5000, conducting 2191 trades and winning 55% of them. As a result, it managed to generate a total profit of $171917.99.
The relative drawdown for this backtest was quite high at 29.65%, which indicates a high-risk trading strategy. There were 13 maximum consecutive wins and 7 maximum consecutive losses for this backtest. The profit factor was 1.58.
Forex Combo System live trading account review
This trading account has been active for over 5 years, and the robot has placed 939 trades through it. The win rate for this account is 60% and considering this, you’d expect a large net profit, but we can see that it’s a meager $836.98. This tells us that the system has suffered some huge losses along the way.
The daily and monthly gains for this account are 0.07% and 2.21% respectively. This fails to impress us since most EAs have higher average monthly gains. Furthermore, the extremely high drawdown of 47.19% is indicative of a risky trading strategy.
Looking at the trading history, we can notice multiple back-to-back losses suffered by the EA. This confirms our suspicion that the system carries a high risk of ruin.
You can purchase Forex Combo System for the price of $137. We don’t think it is wise to spend this much money on a high-risk EA. The vendor offers a 60-day money-back guarantee for this product.
Is Forex Combo System a scam?
Forex Combo System is most definitely a scam service. On the official website, the vendor claims that the robot is optimized to the market conditions of 2021, but as we can see from the trading history, there have been multiple consecutive losses, leading to an extremely high drawdown.
There are a few user reviews for this EA on the Forexpeacearmy website. One user has complained that the robot has bugs and that it doesn’t allow you to use hedging if you are registered with a US broker.
The vendor provides 24/7 support for all users. To get in touch with the support team, you need to log in to the Private Members Area. For this purpose, you can also use the contact form.