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ForexExtract - best Forex Expert Advisors Read detailed review

ForexExtract

rating 10/10 mt4/5
NFA
  • Gain 489.95%
  • Monthly 12.81%
  • Drawdown 27.1%
  • Days in Live 445

ForexExtract is a robot that has proven its profitability and stability in real tests on accounts with money, not just on demo accounts. Fully automated Forex robot, with a loss prevention algorithm.

Statistics

ForexExtract AUDUSD - Real 1

ForexExtract - analyse results on Myfxbook real account

ForexExtract USDCAD - Real 2

ForexExtract - Myfxbook full analyzing trading account

Backtests

Our accounts have quite a long period of live trading, but for you to make sure that the results have an even more long-term basis, we have added the results of testing ForexExtract robot on historical data (backtesting) for many years.

Aggressive AUDUSD ForexExtract Aggressive AUDUSD
Aggressive USDCAD ForexExtract Aggressive USDCAD
Normal AUDUSD ForexExtract Normal AUDUSD
Normal USDCAD ForexExtract Normal USDCAD

Information about ForexExtract

ForexExtract is a robot that has proven its profitability and stability in real tests on accounts with money, not just on demo accounts. All its results are verified by the independent company Myfxbook.

We have worked for a long time to develop and set up a good mechanism that makes it possible to find good Market entry points. It provides great profitability to our system. But of course, sometimes our algorithm makes mistakes, and that is when a mechanism which finds the best moment to close an unsuccessful order starts working. Sometimes it closes an order in a small profit, or in a zero profit, and sometimes in a small loss. But the algorithm is configured in such a way as not to make large losses. In the event that ForexExtract has failed to recognize exactly when the order should have been closed, and the drawdown has become bigger than we were ready to get, then the system can add the second order, and sometimes the third one, to cover a drawdown of the first order by a profit of the following order(s). If it happens that even with such protections the drawdown could not be covered, then the last algorithm is activated. It calculates the moment when, how and at what price to open additional orders that will be able to cover all the drawdown that we have. This algorithm is well thought out and it will not allow the EA to "accumulate" drawdown if there is a rapid movement (trend) in the opposite direction from our orders.

ForexExtract is an interesting robot that, as you can see, has many levels of protection which provide good reliability and security for the user's account. But even if they all fail for some reason, due to some unprecedented Market upheaval, our robot has a built-in drawdown limitation mechanism that will protect your account from significant losses.

More advantages and features of our robot:

1. Supports AUDUSD and USDCAD currency pairs.

2. Supports the most popular platforms: MetaTrader 4 and MetaTrader 5.

3. Compatible with any broker and not spread sensitive.

4. Multi-layer protection against unprofitable trades.

5. Verified results on real accounts and tests on history (backtests).

6 Extremely easy to set up and use.

Purchase includes:

  • 1 lifetime license for a real or demo account
  • Ability to change accounts online
  • Robot version for MT4 and MT5
  • Detailed user manual and the best technical support 24/7

Refund policy

We provide a full money-back guarantee during the first 30 days after purchasing. If our EA doesn’t work properly on your account, and we cannot do anything about it, we will return your money. If a drawdown on your account exceeds 35%, we will also initiate a refund process, on condition that you have used our recommended settings and provided proofs of that.

ForexExtract - best Forex Expert Advisors
ForexExtract
ForexExtract - best Forex Expert Advisors
ForexExtract
$330
$287
Buy
Visit the developer's website
full review ForexExtract Review

ForexExtract Review

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FXSherlock /
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Here is a review of the new Forex robot named ForexExtract EA. This review will look closely at the system's performance, statistics, and algorithms. Read through this review and discover why this robot is considered one of the best at ForexStore.

Basic information about ForexExtract:

  • Price$330
  • Currency pairAUDUSD, USDCAD
  • Number of real licenses1 lifetime license for a real or demo account
  • SupportDetailed user manual and the best technical support 24/7
  • Refund30 days money-back guarantee

Conditions for trading:

  • Minimal deposit amount$330
  • Minimal leverage1:100
  • Time frameAny
  • TerminalMT4 and MT5
  • BrokerAny

Live performance of ForexExtract

ForexExtract Forex robot has two real live trading accounts on Myfxbook third-party company, which have been working on the AUDUSD and USDCAD currency pairs for 14 and 7 months. Live trading on the AUDUSD account started in November 2021 with an initial deposit of $1500 and a $1000 initial deposit for the USDCAD account in June 2022. ForexExtract EA has made +463.10% and +315.13% of profit during the trading period of 14 and 7 months. The trading curve of live graphs for both accounts of the system has a strong upward trend and has almost no sharp edges or drawdowns, as it could be appearing due to fast account growth.

Aggressive AUDUSD ForexExtract Aggressive AUDUSD
Aggressive USDCAD ForexExtract Aggressive USDCAD
Normal AUDUSD ForexExtract Normal AUDUSD
Normal USDCAD ForexExtract Normal USDCAD

The robot has got two backtests for each currency pair it can trade with. Those backtests show some of the possible trading potentials of the trading robot on the historical quotes. These backtest graphs show the difference and correlation between different settings of the ForexExtract EA. Every currency pair backtest set has a first backtest, which shows the trading possibilities of the robot using aggressive risk settings. The other shows backtest results using only "normal" risk settings of 35% risk. All four backtests are made on a 1H timeframe using every tick backtesting model, which is the most precise method based on all available least timeframes. The backtests' modelling quality is 90%, which is fine for the ForexExtract EA because it does not use a scalping strategy. Both AUDUSD backtests were made using eight years of historical quotes (from 2014 to 2022), and both USDCAD backtests were made using 6 years of historical quotes (from 2016 to 2022), which is more than enough for the proper assessment.

Disclaimer

*The backtests are taken from the developers’ website
*The subsequent analysis of the adviser is based on live analytics from the Myfxbook website. We’ll go through the pluses and minuses of the trading system as well as the profit and drawdown analysis.

Drawdown and profitability

Real trading of ForexExtract EA on the live AUDUSD accounts that we're about to analyze started on November 11, 2021, or more than 14 months ago, with an initial deposit of $1500.

ForexExtract EA AUDUSD real live trading results taken from Myfxbook

On the other hand, the real trading on the USDCAD account started on June 17, 2022 (7 months ago) with a $1000 initial deposit. The system has managed to grow the account by +463.10% and +315.13% so far, which are well-managed results as for the system that got a maximum of 27.10% of drawdown level for both accounts and monthly growth of 13.63% (AUDUSD) and 25.70% (USDCAD).

ForexExtract EA USDCAD real live trading results taken from Myfxbook

The trading results of this automated trading system are enough to say that the ForexExtract EA is one of the most profitable robots on the ForexStore website. Above are screenshots of the real performance data for both ForexExtract EA accounts taken from the Myfxbook website.

The ForexExtract EA shows good durability and is well-made for long-term trading. Even though it makes slightly more profitable trades than losing once (approximately 53-55% profitable trades), the profitable trades are more about quality than quantity. Also, the robot had almost no fixed drawdowns that would have damaged the upward-growing trading curve. Undoubtedly, the robot has got a bit high floating drawdown level of 27.10%, but as we can see, the ForexExtract EA successfully managed to avoid the drawdowns to become fixed and grow the account.

With that said, the ForexExtract EA system has managed to be profitable and safe during 14 months of trading with real money and hasn’t got long fixed drawdowns. Moreover, ForexExtract has gained +463.10% and  +315.13% of total profit, having a rate of 13.63% (AUDUSD) and 25.70% (USDCAD) of monthly profit. We can calculate an approximate profit-to-drawdown ratio of the system, which is around 2.54:1 for the AUDUSD account and 1.73:1 for the USDCAD account. This is a high profit-to-drawdown ratio, which should be considered when analyzing all the other information about this trading system; the system is pretty reliable and has the potential to be a profitable one for a longer time.

Trading

ForexExtract EA is a fully automated Forex robot compatible with both MetaTrader 4 and MetaTrader 5. It has a real trading statistic that is being deeply analyzed in this Forex robot review of ForexExtract EA.

The system developer explains the ForexExtract EA's trading logic in the guide on the robot's official website. The main idea of the ForexExtract is that it looks for the best conditions for henry point and has a multilayered protection system which does not allow accumulating the drawdowns into a significant loss.

The logic behind the ForexExtract provided by the creators is such: the system is actively looking for the best time and possibility to enter the market. It adds a lot to the reliability of the robot but also brings profit as well as the well-calculated entry point is one of the most critical things in terms of gain collecting.

The system is well protected, as it's been mentioned, and the way the protection is implemented into the robot is impressive. The system has three layers of protection. First, if the order goes the wrong way, the mechanism which looks for the best closing moment starts working. It calculates the most appropriate way to close unsuccessful order and minimize the loss or even close it with a small profit or zero profit. Anyways, it is made so as not to allow significant losses to the trading account.

If the system fails to understand the best closure time for the order and the drawdown grows to the amount over the one the user was ready to lose, the next layer of protection is activated. The system may open additional one or two orders to cover the drawdown of the losing trade. But if these two layers of protection cannot cover the drawdown, the last algorithm is activated.

The third protection layer is all about covering the losses caused by the previous steps. It looks for the best market conditions to open an additional order to cover all the previous drawdowns. This algorithm is well thought out and will not allow the EA to "accumulate" drawdown if there is a rapid movement (trend) in the opposite direction from our orders. Below is the information given by the developer about this multi-layer protection algorithm.

ForexExtract EA logic explained by the developer

For the trading analysis, we will focus on one live account of  ForexExtract EA - AUDUSD, all the information, and graphs in this review will be taken from it. As we can surely see, ForexExtract EA does not use a scalping strategy. Also, as it is seen from the live trading graphs, the ForexExtract robot uses a fixed lot size of 0.200 and sometimes multiplies it two or even three times (0.400 or 0.600). It is obviously made to recover losses that the robot faces, as it was described before.

ForexExtract EA real live trading results analysis taken from Myfxbook

The system does not use compound interest as a tool for stable growth. If we look at the trading graphs and compare the first trades that were made at the beginning of live trading of ForexExtract EA and the latest trades of the system, we can see that the initial lot size grew from 0.100 at the beginning of the live trading, to 0.200 as for the latest trades. Even though we can consider that the lot size doubled during the trading period of the robot, it is still not enough growth to consider it a compound interest, as the account gained more than 450% of the profit.

ForexExtract EA real live trading results taken from Myfxbook

This trading system also uses some kind of a small grid and the Martingale strategy. The system multiplies lot size to recover from drawdowns. As it is shown in the screenshot below, there are some examples of grid usage together with some kind of Martingale strategy. However, by looking through all the trades of the system, we can consider that the multiplication of the lot size and grids building is used in the trading process only in exceptional cases and in small amounts only. This once more confirms the statements made by developers about the multi-layer protection algorithm.

ForexExtract EA real live trading results taken from Myfxbook

The ForexExtract EA has made 118 trades since the beginning of the live trading. 53% of them were winning once, and only 47% were losing trades. This means that the ForexExtract Forex robot makes almost the same amount of profitable and losing trades, but, as we know, the system is pretty profitable at the same time. It means that the winning trades of the system are really successful and bring high profits. The quality of the trades is more critical for this system than the quantity of winning once.

Having made 118 trades during all the 14 months of live trading statistics, we can assume that the system makes approximately 8.5 trades per month which is a bit low amount.

ForexExtract EA real live trading results taken from Myfxbook

The average trades duration of ForexExtract EA is a bit wide-ranged. Most of the trades are usually closed by the ForexExtract EA in the range from 3-4 hours to 10 days. Also, most of the trades that have been live for more than 3 days usually end up being loosing once.

ForexExtract EA real live trading results taken from Myfxbook

Conclusion

ForexExtract EA is one of the Forex robots that makes success look easy, but actually, the long and hard work of developers lies behind it. This system is able to bring high results with low fixed drawdowns, even having quite the same amount of winning and losing trades which is fantastic. It is totally due to the hard work and thoughtful approach of the creators of the system that make those results possible.

Even though the system uses some kind of grid Martingale, it does not affect the performance in the wrong way, and it only adds up to the system's credibility and makes profits higher. This robot shows profitability and durability during a pretty long live trading period, which makes the robot special.

Final marks

So let’s finish this review by giving appropriate assessments to the ForexExtract based on the analysis of its work, statistics, and other factors
Price VS Quality
5/5
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Profitability / Drawdown
5/5
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Statistics duration
5/5
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Backtests
5/5
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Authors’ rating
5/5
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AVERAGE
5/5
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Showing the marks of this review, I start from the price and quality ratio mark where the ForexExtract EA has got 5 out of 5. I think the price is more than suitable for this EA, considering that the system has all the backtests, good live statistics, and a history of 14 months of successful work on the real account.

As mentioned in the review, this Forex robot's drawdown/profitability level is actually really high as well. It reaches ratios of 2.54:1 for the AUDUSD account and 1.73:1 for the USDCAD account, which is higher than most of the systems out in the market. That’s why ForexExtract EA got 5 out of 5 for this.

ForexExtract EA has got live trading statistics since November 2021, which is enough to say that the EA is durable for market changes, and it trades stably. My mark for the reliability and durability of the system is 5 out of 5.

The backtest of ForexExtract EA uses the quotes' data from 2015 until 2021, giving us 8 years of backtesting on the AUDUSD currency pair and 6 years of backtesting on the USDCAD pair. These results are enough to give this EA 5 out of 5 for this mark.

And my thoughts about this Forex robot are primarily positive, and it is similar to the objective marks that have already been given. I give ForexExtract EA 5 out of 5.

Automated ForexStore rating is

10/10

At the moment of writing this review, the automated rating system of the ForexStore rated ForexExtract EA 10 points out of 10, which is the same as the marks that I've considered after reviewing this Forex robot but still very close.

I hope this helps you, traders! I wish you profitable trading and luck on the market!

ForexExtract - best Forex Expert Advisors
ForexExtract
ForexExtract - best Forex Expert Advisors
ForexExtract
$330
$287
Buy
Visit the developer's website