Forex Paris Review

Forex Paris Review

Forex Paris is an automated Forex trading system launched in March 2021. It had more than 99% profitability on a backtest. Although it sounds good, we cannot rely on the vendor’s claims only. Therefore, an unbiased analysis of the system needs to be conducted.

Forex Paris presentation

This expert advisor was 908 times demo downloaded. There were 8 activations of the system. The recent update to V3.0 was on May 3, 2021. The developer has provided us with a very brief explanation of what the robot is about. We have some basic information about the robot, including the recommended time frame, broker, currency pairs, and input parameters details.

There is no official website for this expert advisor. Therefore, the robot is sold on the mql5 market. Interested in the system traders can buy a lifetime license of Forex Paris for $349 or rent the robot for $199 per month. The rental option looks weird and is too expensive. The vendor also warns its customers that only 4 copies of the root are left for $349, the next price for the next 10 copies will be higher – $399.

Forex Paris Trading Strategy

The trading strategy of the robot is not explained properly. The one thing we know is that the robot uses a 2-in-1 dynamic and adaptive algorithm for placing traders. It opens multiple trades per week and most of them are closed on the same day. It does not use Martingale, Grid, Averaging, or Smart Recovery. Every trade comes with fixed SL and TP. The vendor also recommends not choosing settings and trading with default settings. Unfortunately, there is no information provided about what kind of indicators this EA uses.

Forex Paris Features

The key features of this EA are gathered in this list:

  • It is a fully automated trading system
  • Does not use any risky approaches like Martingale, Averaging, Grid, or Smart Recovery
  • The vendor recommends VantageFX broker
  • Every trade comes with fixed SL and TP
  • Trading on default settings is recommended
  • The robot can be used for trading different currency pairs, but the vendor points out that it trades best GBPUSD and EURUSD currency pairs
  • No matter what timeframe you use, the robot will be working in the same way
  • The robot has a dynamic lot functionality that allows it to choose a lot size based on the account balance
  • Traders are free to customize SLs, TPs, Max spreads, etc.
  • The dev also provides a link to their Telegram group:
Forex Paris - Telegram group

Forex Paris Backtesting Results

The backtesting was conducted for 2 currency pairs: EURUSD and GBPUSD on the M1 timeframe. This is a backtesting report for the EURUSD pair for the static mode of Forex Paris EA. The report is based on 4 years and 10 months of trading history period. The history quality was 99%. There were over 1,9M of bars in the test. With the initial deposit of $1k, the robot generated $7852, 04 of profit. The root traded 609 trades and won 603 out of them, which represents a profitability of 99.01%. The profit factor was high -10, 54. The maximal balance drawdown was 5,49%.

Forex Paris Backtesting Results
Forex Paris Backtesting Results

Forex Paris Live Trading Results

The de failed to provide live trading results of his EA. Therefore, we have conducted additional research and found a trading account that most likely is run by Forex Paris.

Forex Paris Myfxbook

This is a Read (USD) account trading under the recommended by the dev broker VantageFX. The last trading activity of this EA was on April 23, when a trader decided to withdraw his funds. This account was added to myfxbook on April 13, 2021. It was live for 10 days only, For this short period, its gain reached -39, 05% with a high drawdown of 42, 20%. The initial deposit was $450. The trader withdraws $341 and $108 was lost from the account balance. This is the reason why the trader stopped using this EA and withdrew $81 on April 23. As you can see on the growth chart, the robot has not shown any positive trading performance since the day of the account activation.

The profit factor was low – 0, 26. The average win in pips was 12 times lower than the average loss: 5.77 pips and -63.93 pips respectively. The robot traded 2 currency pairs: EURUSD and GBPUSD. Both of them have brought nothing but a money loss of -$47.54 and -$61.41.

Forex Paris trading results

This trading account was ruined by the robot.

Forex Paris trading results

The monthly gain is nothing to talk about.

Forex Paris monthly gain

Forex Paris Reputation

The person that stands behind this EA is Ruben Octavio Gonzalez Aviles from Switzerland. He is CEO at Rubengaviles. He has a high 4308 rating among the mql5 community. The dev has around 500 subscribers. There are 8 products in his portfolio, designed to work on MT4 and MT5 platforms. They are Cairo, Kyoto, Paris, and Miami.

Forex Paris. The dev has around 500 subscribers. There are 8 products in his portfolio, designed to work on MT4 and MT5 platforms.

Unfortunately, we have no other information available on this person so we do not know what kind of trading history he or his team has behind.

There are 24 reviews from their customers on the mql5 page where the product is sold. Based on these reviews, Forex Paris has a low 2 out of 5 possible ratings. Users complain about the poor trading performance of the robot and call it ‘very disappointing’:

Forex Paris. Users complain about the poor trading performance of the robot and call it ‘very disappointing

Big SLs, too many losses, that can ‘wipe out your deposit’:

Forex Paris customer reviews
Forex Paris customer reviews

The customers have also expressed their disappointment with the prepayment service.

Forex Paris Review Summary

We do not recommend this EA. It is worth neither your time, not the price it is sold for. The trading results were poor and brought nothing but losses. The trading account was ruined by the robot. None of the traders who tried this EA was satisfied with the trading results obtained.

Strategy – 4/10

Functionality & Features  – 6/10

Trading Results – score 3/10

Reliability – score 4/10

Pricing – score 4/10

Searching for the best forex robot?
FX Audit reviewed and tested over 100 trading systems. Find the best one for you.

Leave a Reply