Forex Enigma Review

We’d like to talk about a Forex Enigma EA. The logo looks like a styled jack-plane. 

Forex Enigma EA is an MT4 trading robot. It’s received three strategies behind the trading system: scalping, trending, and grid strategies. The News Filter feature allows avoiding trading during news impact. 

The EA is introduced in three packages Basic, Standard, and Professional. The Basic costs $149 for a lifetime license. It includes one real and demo account license, automated trading, free updates, welcome support, and a 30-day money-back guarantee. The Standard costs $199 and includes two real and demo accounts. The professional includes three real and demo accounts and costs $249.

Forex Enigma Trading Strategy

• The scalping strategy on the M5 time frame looks for short-term opportunities to cut out some profit from the market moves.
• Trend trading is good for trading on the H1 time frame all day long. If bars and moving average tell you that it’s time to buy, you can make a solid number of pips from 20 to 300 for a single trade.
• Griding allows multiplying Lot Size to make more profits. 

The roist two strategies must have different SL and TP level placements. As the devs suggest, the EA should be set on the H1 timeframe on the EUR/USD chart.

• The robot has got some “innovations” which aren’t told by the devs.
• The minimum account balance should be $3000.
• The minimum leverage can be 1:100 and can be risen to 1:400.

Forex Enigma Features

The developers didn’t like to focus our attention on the systemized features, so we had to do it on our own:

• Auto-trading
• Money management system
• Two plus one strategies on the board
• EUR/USD H1 time frame trading
• High requirement for the minimum balance.

There’s nothing told about ECN account, VPS, and other requirements.

Forex Enigma Backtesting Results

We’ve got two reports. This one was with higher risks. It’s a EUR/USD backtest on the H1 timeframe for one year. The initial deposit was $1000 that became $2068.44 of the total net profit. As we can see, the profit factor was higher than 3 (3.33). The maximum drawdown was not that high and equaled 28.05%, comparing to the risks. There were performed 594 trades with Shorts’ win-rate (78.56%) and Longs’ one (68.81%). 

This backtest was made, checking low-risk trading. The total net profit was $989 from the $1000 of the initial deposit. The profit factor was higher (4.29) even traded fewer deals (494). The Short positions’ win-rate was almost 83% when longs’ one was many less – 67.37%.

Forex Enigma Live Trading Results

We’ve got a link on the real USD account that’s verified by FXBlue. The balance is $27.7k, with only +2.912 of the profit. That’s why the margin level is so high (2371.9%).

Forex Enigma focuses on EUR/USD symbol. Total Return for 198 days is +360.9%; the monthly return is huge and equals +25.4%. The win-rate is higher than it was on backtest reports (82.1%). Profit Factor is equally high as well (3.49). The average trade frequency is two trades in a day.

The robot runs the account with huge risks (31.9%). The average win (+12.33) is a bit less than the average loss (-16.26).

If we talk about directions, the EA trades Short positions twice often than Long ones – 266 to 139.

Even if the robot performances two plus one strategies, we have four magic numbers. So, there are at least one or two additional strategies or robots. As we can see, the most successful was #147258 where 72 deals with a 100% win-rate were traded.

It’s weird, but you can check that the most favorite day to trade is Monday that’s usually treated as an underdog.

Most trades were performed during European and American trading sessions.

As we can see from monthly trading results, the EA stopped working in May 2020.

The final trades have brought many profits. There were no reasons to stop the EA performance.

Forex Enigma Reputation

Forex Enigma has no reputation at all. It’s hard to tell for sure if people like it or not. 

Forex Enigma Review Summary

• Strategy – score (4/10)
• Functionality & Features  – score (2/10)
• Trading Results – score (7/10)
• Reliability – score (3/10)
• Pricing – score (5/10)

Conclusion

The EA has its pros and cons. There are not so many pros. Firstly, trading results match the provided information about strategies and backtest reports. From the cons, we don’t know anything about features, settings, and the most important, why the EA was stopped after reaching reliable results. If we want to read about people’s experience using it, we have no comments on Forex Peace Army. If you’re going to buy it, it’d be a cat in the bag.