Smart Forex Trading EA Review ｜ SCAM?

Smart Forex Trading EA is an EA that has a very high profit rate in the forward test.

Monthly profit rate is keeping 40% ~ 50%.

Many people may be interested in this EA because of this high profit rate.

I tried to verify if this EA can be expected to produce really good results.

 

Basic information of Smart Forex Trading EA

Price	Monthly$350	Yearly$2500	Initial $ 200 / Performance fee: 35% of monthly profit
License	1	1	1
Money back guarantee	30 days	30 days	None
Payment method	Card Skrill Netteller	Skrill Netteller	Skrill Netteller

■Support：24/7 email support
■Money back guarantee：30 days. However, only when 40% or more of the drawdown occurs despite operating with the recommended setting.

This EA is available in various price plans with monthly, Yearly or performance fees.
However, all plans are very expensive.

A money-back guarantee is also available, but conditions are severe. Even if you want to get a refund, there are many cases where you will not get a refund.

Is it worth paying high for this EA?
It must be considered very carefully.

 

How Smart Forex Trading EA works

When using normal EA, set EA to MT4. On the other hand, Smart Forex Trading EA is designed to do copy trading.

Specifically, it is necessary to use FX Blue’s “Internet Trade Mirror” function.

 

Smart Forex Trading EA live performance

The results of 6 live performances are published on the sales page.

One of the live performances is the graph above.

It is mysterious that the profit curve is not smooth, but at right angles.

Why is this a right-angle graph?
That’s because the results of the forward test contain a mysterious transaction history that says “archived”.

Looking at the transaction results by currency pair, we found that more than half of the profit came from “archived”.

Of the 382,197 USD profit, 215,326 USD is the “archived” profit.
On the other hand, of the total 386 orders, the number of orders for “archived” is 47.
“Archived” has a huge profit with a small number of orders.

We asked FX BLUE what the transaction history described as “archived” meant.
However, the answer was “Only the broker knows”.
It is very unclear how profits are earned.

In the worst case, there may be a suspicion that the forward test is deceiving.

 

Trading Analysis of Smart Forex Trading EA

Trading logic is a strategy that combines grid and martingale.

We can see that it is a typical grid & martingale movement and has both BUY and SELL positions at the same time.
The rate of increase in lot size depends on the situation.

Suspicion of the same developer

The following EAs are allegedly created by the developers of Smart Forex Trading EA.

・Fx Profit Beast
・Rocket Signals
・Fx Green EA
・Flex Signals

The following image is the result of the forward test of “Rocket Signals”.

It is very similar to the results of the Smart Forex Trading EA forward test already posted above.
It is almost the same.
I think that the signal of the same logic is delivered only by changing the name.

It is uncertain whether the same person is really making these EAs.

However, vendor reliability is negative.

Conclusion of Smart Forex Trading EA

In the forward test, the monthly profit rate is about 40%, and the drawdown is small.
Looking at these results, everyone will want to use it.

However, based on the following points, I think that you should refrain from using this EA.

The result of the forward test looks very good.
However, the operation started from January 2019, and there is still little operation experience.

There is very little information from the user, and I do not know if the results will be the same as the forward test.

There is also the risk that your account will be destroyed in an instant because of the use of high-risk techniques.

I do not recommend using this EA for now.