Forex Falcor Review: Does It Win or Lose?

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Forex Falcor

Forex Falcor trades the markets on auto mode and uses its analogy to trade on multiple currency pairs at once. According to the developer, the algorithm has a new code adapted within itself in 2022. It can trade on any lot size that the user requires. We will cover all the vital characteristics of the robot in our review and see if it can be suitable for our portfolio.

What is Forex Falcor?

Forex Falcor has the following features:

  • It does not have any lagging indicators
  • The algorithm is perfect for new traders
  • The robot sets up quickly within 5 minutes
  • Traders can use the robot to trade 24 hours a day

There is no recommendation available on the leverage that traders should use with the robot.

Official Forex Falcor website

The algorithm is available on the developers’ website, where we can see all the characteristics and track the records. Unfortunately, the presentation is not good enough and requires us to search the page to find appropriate information.

How can we use Forex Falcor?

  1. You can use the robot by purchasing it from the developer. 
  2. Traders have to download it on the MT 4 platform and attach the robot onto charts to start trading.
  3. Do not forget to enable the auto-trading button.

Pricing & refund

The robot is available for $79 with no renting options present for now. The developer is not clear if the money-back guarantee is provided by them or not. There is no mention of the keys available with the purchase. 

Trading strategy

The developer only states that the robot trades using the price action and does not have any lags. It can trade on multiple currency pairs and does not require experience from the trader. Unfortunately, there are no live records available on Myfxbook or FXBlue that we could use to analyze the methodology of the EA. 

The developer is also not transparent on the backtesting records, which we could use to judge how the algorithm performs on historical data. This is a poor approach from the author and raises many concerns about the product’s performance. 

Current performance

Without any live records, we cannot know the current performance of the robot. This includes factors such as the drawdown, monthly output, best and worst trades.

Vendor transparency 

Don Steinitz is the company’s author who claims to have been involved in the betting industry for an extended period. Later on, he tried to study the forex market and spent thousands of hours finding the holy grail system. He found the MT 4 program, began coding in the MQL 4 language, and sold his systems.

Author's biography
Author’s biography

What are the real customers saying about Forex Falcor?

There are 270 reviews present on Forex Peace Army, which gives them a rating of 2.262. One of the traders says that they cannot download the robot they purchased from the website after making a purchase. They have been charged twice on their PayPal account. They have contacted customer support three times, but no solid response was provided. 

Customer review on Forex Peace Army
Customer review on Forex Peace Army

Summary: is Forex Falcor a trustworthy robot?

Forex Falcor
2.4 5 0 1
Forex Falcor is not transparent on multiple factors such as live and backtesting records. The developer is not clear on the methodology of the robot. The reviews present on Forex Peace Army are also abysmal, raising some concerns about the performance.
Forex Falcor is not transparent on multiple factors such as live and backtesting records. The developer is not clear on the methodology of the robot. The reviews present on Forex Peace Army are also abysmal, raising some concerns about the performance.
2.4 rating
2.4/5
Total Score
  • Strategy
    2.0 rating
    2/5 Bad
  • Features
    2.0 rating
    2/5 Bad
  • Trading results
    2.0 rating
    2/5 Bad
  • Reliability
    2.0 rating
    2/5 Bad
  • Pricing
    4.0 rating
    4/5 Good

Like

  • Low asking price

Dislike

  • No backtesting records
  • There are no live records
  • Little information on the strategy
Total
0
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