Forex Enigma Review Pros, Cons and Ratings

The lack of info raises a red flag for this FX EA. Wednesday with 22 orders is the less traded day. Most of the profits were obtained on Thursday, $106.51.

Forex Enigma is an expert advisor that works with real money on a real account. The developers should have provided us with more information about how the system functions. There’s no core claim about the advisor written. Forex Enigma EA uses three types of the most popular automated trading strategies. Some of them are high-risk strategies and can blow up trader’s account when used unthoughtfully.

The vendor doesn’t provide us with any details on how these strategies work together, so it’s tough to conclude about their effectiveness. The vendor is selling Forex Enigma using click2sell service, so you can pay for the software via PayPal. We’re glad to see that devs provide 30 days money-back guarantee in case if account balance is in loss after 20 days of trading with Forex Enigma. Worth mentioning that the refund applies to the first purchased license only.

The devs provide only one FXBlue verified trading account running Forex Enigma EA. There are no Myfxbook accounts, which is disappointing because Myfxbook provides the most transparency when it comes to confirmed trading results. The account was started in January 2020 but we can see first closed orders only on February 24. Overall, it looks like there’s some kind of manipulation is going on, and I think that we can’t trust these results, especially with such a short trading period.

They provide a trading account from FX Blue and two different backtests of a high risk and low risk setup. Backtests are as meaningless as tits on a bull moose so lets investigate this account they have running on FX Blue. It appears to only work on EURUSD, running on H1 timeframe. They claim it will be profitable on any MT4 broker. The claim to have many market leader innovations and that Forex Enigma EA has a unique ifc markets review ability achieve consistent profit month after month. That is all they tell us, that is literally it.

Tech Trader Review

The maximal DD was 28.05%, which is quite normal for this type of EAs. Despite these claims, the sales page of Forex Enigma EA lacks the depth and technical insights typically expected from such offerings. While it targets the EURUSD pair on the H1 timeframe, specifics regarding entry and exit criteria, risk management, and trade execution remain scarce. This dearth of information may raise concerns among discerning traders, underscoring the importance of thorough research and due diligence before investing. I think it is important you learn why each Forex coinmama exchange review Enigma signal is generated, rather than taking them without having a good look at what is happening in the market to verify each trade.

Backtesting vs live trading results

So, if the market goes the wrong direction it can end quickly with tracing Stop Out levels. From our analysis of this FX EA, we find that the system shows poor performance and a lack of vendor transparency. Although the vendor provides verified results and backtests, the MT4 tool is not worth the price due to the ineffective approach and the absence of vendor transparency. Forex Enigma is an FX robot that is designed to work on the MT4 platform. It uses multiple strategies to ensure profitability.

Forex Enigma EA Review – An In Depth Analysis

The most important stat of these results is the very small sample size of 86 days of history. While the monthly return of 58% as of writing this is impressive, I have a funny feeling I will be updating this post in the coming weeks to comment about this account blowing. Time will tell I guess, but from 15 years in forex I can tell you that 50%+ per month from automated trading is not sustainable if you’re not risking the entire account on every trade. In this post I will be reviewing the popular Forex Enigma forex trading system by Karl Dittmann. Forex Enigma is an easy to use trading indicator for MetaTrader 4 charts that can give you trading signals for buy and sell trades. It is a visually appealing indicator with clear instructions for the trader.

Why did it need to open 48 separate trades this fast at the same price and then close them all at the same price? All the trades closed within 3 hours with a 14 pip profit each. There was however no SL on any of the trades, so hopefully they use some kind of other metric/indicator for a SL.

To purchase this FX EA, you need to choose from the three packages available namely, the basic, standard, and professional package. Remarkably, the developers behind Forex Enigma EA maintain an elusive presence, refraining from any disclosure throughout their sales pitch. Crucial details such as their identity, location, or track record in the Forex markets remain conspicuously absent. Such omission raises concerns, as transparency is paramount in the realm of trading. Notably, the investigative efforts reveal that the website hosting originates from the Czech Republic, a piece of information not volunteered by the vendor. This Forex robot does not have any customer reviews on its official website or on other sites like FPA, Quora, or Trustpilot.

Best Forex Robot Providers: Automated Forex Trading Guide

1. The robot is also said to assemble facts and figures while making trading decisions and not allowing fear, anxiety, and stress to get in the way.
2. We have the Buy direction (91) more frequently traded than the Sell direction (69).
3. 1 real account with 1 demo account can be purchased for $149 with a 30 day money back guarantee, or 2 accounts for $199 or 3 accounts for $249.
4. While the monthly return of 58% as of writing this is impressive, I have a funny feeling I will be updating this post in the coming weeks to comment about this account blowing.

As per the vendor info, this FX EA uses the scalping, trend, and half grid methods. A news filter is also present for effectiveness. The MT4 tool uses a programmed analysis along with the strategies. After you set the limits, scales, and other parameters, the system handles all the trading. There is no further explanation of the approach. We find the explanation vague which raises doubts regarding the reliability of this FX EA.

The vendor of this robot is an independent third-party, so the quality guarantees from ForexStore do not apply to this product. You can see the list of robots with a guarantee from ForexStore here. The system closed only ten orders in October 2021. Forex Enigma is the system that doesn’t have a main statement about how everything works.