Red Fox EA claims to be an auto trading smart robot that assures steady profit growth. This FX robot uses a news filter for its trade execution. The vendor assures a low drawdown and automated lot management. This MT4 tool is capable of working on multiple currency pairs simultaneously. An aggressive and a low drawdown setting are used by this ATS.
Is investing in RED FOX EA a good decision?
This FX robot claims to provide steady monthly profits. Our analysis of the features, trading results, support, and other aspects reveals several downsides in the EA. With a high drawdown and low profits, we are suspicious of the trading approach used and the performance. Our initial conclusion is that this is not a reliable MT4 tool.
Company profile
My EA Academy is promoting this EA besides other products like MT Forex Indicator, Promax Gold EA, and more. From the Contact us page, we find the company is registered as SinryAdvice Worldwide with the registration numberTR0214386-K.
Based in Malaysia, the official site provides a location address and links to the social media pages besides an email address for support. For this MT4 tool, the vendor provides info related to the features, working method, requirements, and more. While there is mention of a WhatsApp number the vendor does not provide one. There is no info on the team or the developer behind this EA which makes us suspicious of the reliability.
Main features
As per the vendor, the FX EA claims to have a low drawdown ranging from 9% up to 15% and monthly profits ranging from 10% up to 48% based on the low or aggressive setting types present. Other features the vendor focuses on are a News filter, smart indicators, a non-Martingale approach, spread control, and a full user guide.
The minimum fund requirement for this FX robot is $1000. EURCAD, EURUSD, GBPUSD, GBPCAD, and USDCAD pairs work best for low drawdown and the pairs to trade under the aggressive setting include AUDUSD, GBPCAD,EURAUD, EURUSD, GBPAUD, GBPNZD, GBPUSD, EURNZD, and USDCAD.
This EA uses market reverse price momentum and inbuilt custom indicators for market analysis. There is no further explanation of the strategy. The failure of the vendor to divulge info on the trading approach is disappointing.
Price
This FX EA costs $266, which is a discounted rate with the original price being $400. The package includes a single demo and one live license key along with a setup guide. There is no mention of updates and support. A 14-day money-back assurance is present for this EA. When compared to other competitor systems in the market, the price of this ATS is not very expensive.
Trading results
The vendor provides a real live USD account via the Opoforex broker using the leverage of 1:500 on the MT4 platform.
From the above screenshots, the trading stats reveal a total profit of 25.39% and an absolute gain of 25.4%. A daily and monthly profit of 0.23% and 7.17% are present. The drawdown is very high at 38.55%. For the trading started in May 2021, a total of 521 trades have been executed with a profitability of 79% and a profit factor value of 2.28.
The lot size used is 0.01. While the lot size and profit factor look decent, we are not happy with the high drawdown and the low profits generated by the system. The results raise our doubts regarding the efficacy of the approach and the performance.
Customer reviews
We found 39 reviews for the company on the Trustpilot site. Here are some of the recent reviews from customers.
From the feedback, we can see that the EA causes a big drawdown forcing the user to close the trades early to avoid losses. Another user claims the FX EA has blown his account and when asked for a refund, the company refused. The reviews confirm our analysis that this ATS uses an ineffective approach and is not reliable.
Summing up
RED FOX EA claims to provide steady profits every month. Our evaluation of the MT4 tool reveals many shortcomings that make it an unreliable system. The vendor does not provide info on the strategy used which makes it difficult to evaluate the efficacy of the ATS. Further, the live trading results show a big drawdown and low profits which are not as claimed by the vendor. Rather they indicate a risky approach that can endanger the account. The user reviews confirm our doubts regarding the reliability of the EA. In short, we do not recommend this expert advisor.
