Forex Steam is a 100% automated forex trading EA, which means it will do all the trading for you.
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Forex Steam requires a trading account with a forex broker and the MetaTrader 4 trading platform to run successfully. You are required to have your MetaTrader 4 running during trading hours for it to work.
Forex Steam breakdown
1. Development
Forex Steam is already in the 10th year of development.
2. Packages & Prices
Forex Steam lifetime membership, which provides you with the following: instant access, all versions of Forex Steam, free upgrades for life, four licenses, free installation, no upsells for a price of $117,99
3. Pairs
| Most successful currency pairs for Forex Steam: | ||
| USD/JPY | USD/CAD | GBP/USD |
| GBP/JPY | EUR/USD | AUD/USD |
4. Timeframes
Forex Steam runs and executes trades on the M5 and M30 timeframes.
Trading strategy
Forex Steam comes with two different versions:
- Light strategy
- Normal strategy
Both strategies use trends but light trades on M5 timeframes, while normal trades on M30. Both function very well. They can also be customized to your specific style and used simultaneously with the same broker.
You can see Forex Steam settings in the picture below:
Forex Steam also has a news filter to avoid trading during low, medium, or high impact news. Other features that it includes are:
- Holiday filer
- Pip retrace
- Spread filter
- Trailing stop
- Break-even money management
You can see an example of the Forex Steam Light risk M5 timeframe parameters that the user can manually change:
Forex Steam backtesting
Forex Steam only offers backtesting results on a demo account for a EUR/USD currency pair.
There are no backtests found for Forex Steam to see how it has historically performed on the other five most successful currency pairs. It would be great for anyone choosing an EA to have the information of the statistics and the activity throughout various market conditions for a more extended time period.
Forex Steam live results
Forex Steam has provided account statements on their website, but they are not from live accounts. The results are positive, but they can’t be validated since they are all on demo accounts. Another negative is the risk to reward ratio that can be seen on the statement on their website. Lossing trades are two times bigger than the winning ones, meaning that the risk to reward ratio is negative.
Clients comments about Forex Steam
Forex Steam has great feedback from its reviews.
On Trustpilot, they have a large variety of their community giving positive feedback with a great score of 4.2/5 out of 51 reviews.
A vast majority of Forex Steam’s community praises the fact of how easy it is to use, and if you run into any kind of problems, simply contact their support team, and they will guide you throughout the process.
On Sitejabber, you can also find many positive reviews about Forex Steam with an excellent score of 4.83/5 from 59 reviews.
Many comments from clients are positive primarily because of the consistency Forex Steam provides with its trading algorithms.
Conclusion
In conclusion, Forex Fury is an EA that can hit more significant drawdowns at times, meaning that it can be a greater risk but potentially more rewarding. Despite all of that, their community shares a lot of positive comments on Trustpilot and Sitejabber about their EA.
You receive full detailed instructions, support, free updates for life, and a money-back guarantee when purchasing Forex Steam. Another positive feature is that you can reach out to the developer if you desire an answer to any specific question since they state that they will do everything in their power to ensure their clients’ happiness.
Forex Steam is a consistent EA that is still improving, with the main problems being large drawdowns, backtesting data lacking quality, and live results only on demo accounts.
