The trading industry is inundated with automated trading bots, but few have the staying power to build a dedicated following. Forex Fury is a notable exception, having been around since 2015 and boasting approximately 15,000 users worldwide.

In this review, TheFXReview explores Forex Fury’s features, performance, risks, and overall value to traders.

What is Forex Fury?

Forex Fury is an automated trading bot compatible with any broker offering MetaTrader MT4 or MT5. It functions as a MetaTrader expert advisor (EA) file, enabling traders to automate trading strategies seamlessly.

Key Functions of Forex Fury:

• Connects to a live trading account
• Places entry orders
• Executes stop-loss orders
• Executes take-profit orders

How Does Forex Fury Work?

Here are ten essential features of Forex Fury:

1. Downloadable Software: Forex Fury is a downloadable trading bot that places trades on your account.
2. Broker Compatibility: Works with any MetaTrader broker.
3. Multi-Market Trading: Can trade Forex, indices, and crypto, though performance data is mainly on Forex pairs.
4. Range-Based Strategy: Best suited for low volatility, range-bound conditions.
5. Specific Trading Hours: Default setting is 4-5 p.m. ET, but this can be customized.
6. Trade Volume: Places 10-20 trades per day per pair.
7. One-Time Cost: No recurring fees, with free future updates.
8. Customizable Settings: Includes money management, stop-loss size, trailing stop, take-profit parameters, maximum spread, slippage, and more.
9. Backtesting Capability: Essential for testing strategies in different markets and settings.
10. Email Support: Customer support is available via email, with quick response times.

Is Forex Fury Reliable?

Stability: Generally stable, though occasional issues with multiple trade sets have been reported. Easy to install as a MetaTrader Expert Advisor.

Profitability: Forex Fury’s advertised win rates are high, over 90%. However, the risk per trade can be significantly higher than the reward, leading to deep drawdowns.

Pros and Cons of Forex Fury

Pros:

• One-Time Cost: Lifetime upgrades included.
• Fully Automated: No need to be on screen; runs based on preset settings.
• Backtesting: Automated backtests to optimize settings.
• Community Support: Active user community sharing tips and experiences.
• Responsive Customer Service: Quick email responses.

Cons:

• Mixed Profitability: Success depends on selected Forex pairs and settings.
• High Risk vs. Reward: Smaller take-profit targets compared to larger stop-losses.
• No Free Trial: Non-refundable purchase.
• Market Sensitivity: Performance can vary with market conditions, requiring constant backtesting.

Bottom Line

Forex Fury is a fully automated trading bot for MetaTrader brokerage accounts, capable of trading Forex, indices, and crypto. While it offers high customization and a large user community, profitability depends on careful selection of pairs, settings, and trading times. The bot’s high win rate is tempered by significant drawdowns due to larger loss sizes.

For more information and a list of brokers offering automated Forex trading, visit TheFXReview.