How to use Forex Fury?
Forex Fury is a trading advisor for the Metatrader 4/5 terminals. You can buy it to try to create a passive source of income. However, the decision should be well weighed considering the risk that the initial investment may not pay off.
Forex Fury is positioned as the #1 product for algorithmic trading. The creators of Forex Fury claim that 93% of transactions made by the Expert Advisor are profitable. However, as you realize, with improper risk management, even 7% of losing trades can destroy an account.
This review tells you how to use Forex Fury. And most importantly - whether you should do it.
What is the Forex Fury robot?
In fact, it is EA (expert advisor) - a file that is installed in the directory of the Metatrader 4/5 - to conduct automatic trading operations on the forex market 24/5 without user participation.
Forex Fury Specifications:
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93% of trades are profitable
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The advisor is designed to grow the account by approximately 10% per month
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More than 16 thousand traders use Forex Fury
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The Forex Fury robot complies with all relevant National Futures Association (NFA) regulations
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Suitable for trading currencies, cryptocurrencies and the stock market
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The Expert Advisor comes with different risk parameters - from conservative to aggressive style
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The installation process is simple and accompanied by video tutorials
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ForexFury was highly rated in Benzinga's review
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The site has information about the creators of the trading advisor, including links to their social media profiles
In order to provide facts confirming profitability, the Forex Fury website provides monitoring of accounts on which the Expert Advisor trades. The monitoring is provided by MyFXbook, an independent and reputable service.
Source: Myfxbook.com
The report above shows that Forex Fury was able to grow the account by 207% in 20 months.
How to use Forex Fury?
In order to start using Forex Fury, you will need to:
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An account with a forex broker. Preferably, it should be an account optimized for algorithmic trading. Consider opening an account with RoboForex for this purpose
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Startup capital. To trade Forex Fury, you may need $100 in a micro account
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It is also desirable to take care of VPS, which will ensure the smooth operation of the advisor
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The EA itself, which you can buy
To utilize the software, one must download and install it, configure the settings, connect to a forex broker, commence trading, monitor the trades, optimize the settings, and withdraw the profits. In order to maximize trading success with Forex Fury, it is important to optimize the settings.
This requires adjusting the settings to align with trading preferences and market conditions. The backtesting feature of the software can be used to test different settings and identify the most profitable ones.
The Forex Fury uses the strategy of trading on the low-volatility market. In other words, it is designed to trade at night, when the probability of sharp impulsive price movements is low.
How much is the Forex Fury robot?
The Forex Fury trading robot is available in Gold and Diamond memberships. The Gold membership costs $229.99 and includes one account license, while the Diamond membership costs $439.99 and includes two account licenses. With the Diamond membership, one can use the Forex Fury trading robot on two accounts simultaneously.
Before signing up, knowing that the Forex Fury robot software has no free trials is essential. The only way to access it is to have a Gold or Diamond membership.
Compared to other premium trading advisors, which typically range in price from $200 to $1,500, the price for Forex Fury is below average.
👍 Forex Fury pros
• Includes low, medium and high-risk automated strategies
• A 93% winning track record with verified Myfxbook accounts
• It can be customized to align with individual risk preferences and trading styles
• The Expert Advisor trades automatically while you sleep, providing passive income
👎 Forex Fury cons
• No free trial or mobile app
• No Guarantee of Profit
• Potentially High Drawdowns
• You cannot contact the support team using chat. And answers by mail may take too long to arrive
The main disadvantage of using Forex Fury is a common feature that is common to all atomatic trading advisors - a profitable history of the past cannot guarantee profits in the future.
Source: Myfxbook.com
The screenshot above shows that suddenly Forex Fury started making losses on one of the accounts. Just large 4 losses destroyed the impressive growth curve built with dozens of profitable trades.
This may have been due to changes in the nature of the market. And you never know if this will happen to your account, which you will risk to give to Forex Fury automated advisor for trading.
As an option for using the Forex Fury advisor, consider giving it a small portion of your capital (if you can afford it). By including Forex Fury in your portfolio of high-risk strategies, you can diversify your risk and try to achieve a more sustainable growth curve.
Read more about algotrading for beginners in the article: 11 Best Forex Algo Trading Software.
Is robot trading real or fake?
Trading bots offered for free are commonly used by scammers to deceive their victims, who are often promised "guaranteed" returns. However, no legitimate trading platform can guarantee such returns, and any offer claiming otherwise is insincere at best and a scam at worst.
Traders must thoroughly check all information gathered from the internet before using it for trading with real money. Even if they are authentic, the profitability results presented by a forex robot seller do not guarantee profitability in future trades.
It is important to exercise caution and make well-informed decisions when trading with real money.
The debate concerning the credibility of robot trading has very sound arguments both for and against it. So, knowing both sides before investing is of the utmost importance.
The article in the link below is recommended to better understand the product's reliability, which will help in sound decision-making: Do forex robots really work?.
FAQs
Is Forex Fury legit?
Yes, trading with automated EAs is allowed by many brokers. Moreover, Forex Fury meets the requirements of such a reputable regulator as the US National Futures Association (NFA).
Who owns the Forex Fury robot?
Patrick Ryan is the CEO and owner of Forex Fury.
s Forex Fury profitable?
More likely yes than no. However, past results do not guarantee future profits. Read about why your expectations may not be met in this article: Are Forex Robots Profitable?
What is the monthly return of forex fury?
The Fury EA is expected to compound monthly returns of 10-20%, depending on the user's settings. But it does not guarantee this much return on every investment.
Glossary for novice traders
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Forex Fury
Forex Fury is a trading advisor for Metatrader 4/5 terminal. You can purchase it to try and create a passive income stream.
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Trading
Trading involves the act of buying and selling financial assets like stocks, currencies, or commodities with the intention of profiting from market price fluctuations. Traders employ various strategies, analysis techniques, and risk management practices to make informed decisions and optimize their chances of success in the financial markets.
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Broker
A broker is a legal entity or individual that performs as an intermediary when making trades in the financial markets. Private investors cannot trade without a broker, since only brokers can execute trades on the exchanges.
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Expert Advisor
An Expert Advisor (EA) is a piece of software or script used in the MetaTrader trading platform to automate trading strategies. EAs are programmed to execute trading decisions based on predefined criteria, rules, and algorithms, allowing for automated and systematic trading without the need for manual intervention.
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Cryptocurrency
Cryptocurrency is a type of digital or virtual currency that relies on cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies operate on decentralized networks, typically based on blockchain technology.
Team that worked on the article
Upendra Goswami is a full-time digital content creator, marketer, and active investor. As a creator, he loves writing about online trading, blockchain, cryptocurrency, and stock trading.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).