Free Forex Robots MyfxPlay

[Ligher]

Hey guys! Few weeks ago I've come across myfxplay.com service which provides free advisors. And I was really surprised that it's not a scam - I wrote to customer support of FXCharger, FxTurbine, Forex inControl and they confirmed that they really collaborate with myfxplay and provide signals from their accounts.

I just wondering if anybody use it? And if you do could you tell what trading style and risk do you use?

I'm trading with Forex inControl (https://myfxplay.com/description/forex-incontrol) and it's going really good but I have some concerns about risks, so I need advice from the person who trades with myfxplay for awhile!

Appreciate any help! Thank you!

 

[Pat494]

Are any of their robots profitable ???
I have opened a demo account to have a look.
They want $300.
I am not sure I can access the robots on a demo but will try.

Don't get caught by these scammers :-
Union Standard, however, said it is not linked to the website below in any way. The watchdog added it does not regulate the services provided by www.usgforex.com.

 

[Ligher]

Hi! I don't think that they give you access to the site with demo account, but who knows, it's worth to try!
Now I'm testing few advisors on my demo accounts and I ran Forex inControl on my live account. And I have the same orders as a vendor on his myfxbook page, so for me it looks legit.

Actually, First I thought that it's scam and I did some research - I wrote to the bunch of brokers and owners of the EA and they confirmed that they collaborate with the service and don't have any complaints. So I don't know...

 

[Pat494]

How long have you been using their robots ?
And have you made any money yet ?
I won't even look at a robot that has a drawdown of 16%+ !
As many robots use a Martingale system which can suddenly go very wrong and lose a lot of money.

 

[Ligher]

I already trade about 3 weeks on my demo accounts and 1.5 week on my live cent account. I know it's too early to do any conclusions but it's going really good now. If you interested i can keep you updated how it's going.
They have special parameter in their EAs - you can set the percentage of your deposit which the advisor can use for trading. If the advisor has loss, you won’t lose more money than you’ve set in this parameter. So it's kinda cool.

 

[Pat494]

https://www.bestforexeas.com/forex-incontrol-ea-review/

Here is a review. The DD on here is more like 30% !
Too high imho

 

[Dr. Toad]

I was bored so played around a bit with a Forex system...it is a grand total of...wait for it...11 lines of code (4 of which define the variables). Is this more to your liking Pat?







I suspect similar results are obtained on all symbols...for instance if the GBPUSD wasn't good enough for you, or you are just in the mood for something more exotic, how about a EURCHF pairing?



I'm sure there is a blatantly obvious reason that wouldn't actually work, but my complete ignorance of the Forex market prevents me from knowing the reason. Yes there is no commissions (my understanding is that with Forex there is none) and there is no slippage accounted for (sells are limit orders so should actually be a reasonable assumption).

Maybe I need to get into the selling systems business...or perhaps I need to actually investigate this further...after all...with a required account size of only ~$100 for the EURCHF, or ~$300 for the GBPUSD, why not right?

 

[Pat494]

Just had a quick look.
Superficially it looks brilliant but of course there is commission or spread to the broker.
The very low drawdown is very good.