The Forex Kore EA is a multicurrency trading robot which is built to work with three different strategies, according to the vendors of the software. It is said to work via adaptive market analysis; changing its strategy whenever market conditions are evolving. The vendors have also made a lot of profit claims and it is left for us to see if these profit claims are actually true or not.
Forex Kore EA Pack: To Trust or Not to Trust?
Can the Forex Kore EA Pack robot be trusted? The answers lie in the analysis of the trading performance as well as deep analytics of the robot’s performance over the years. We will also look at what some verified buyers say about the Forex Kore EA.
After a thorough analysis, we have awarded this robot a “not to trust” stamp, because there are very real concerns surrounding the abilities of this robot to operate profitably under very real market circumstances. This assessment and verdict has been given as a result of the following:
- “Profitable” trading history belies the facts
- Bad reviews from verified users.
Let’s look at the metrics one after the other.
Profitable Trading History Which Belies the Facts
The Forex Kore EA trading instance on Myfxbook shows a profitability of more than 2,000% in 2 years. This looks great, but is it really a true depiction of a working robot? Let us analyse the trading history for the robot.
This trade instance was picked from a brokerage account trading with a leverage of 1:1000. Not many brokers offer such leverage. If you live in the EU or the UK, your leverage maximum is 1:30. So you will have very little allowance for errors or losses without going bust.
Furthermore, this trade instance recorded more than 19,000 trades, and involved the use of very large lot sizes which did not obey the 3% maximum exposure rule. For instance, the largest trade in this snapshot involved the use of 25 standard lots! Granted, this trade ended up being a winner, but do you notice how many losses were sustained at a stretch?
This shows only one thing: the performance of this robot cannot be described as stellar. What we really have are chance trades being taken and with plenty of risk that exceeds acceptable standards.
Many traders who get lured by what they believe are profitable results, without doing a deep analysis of the trades, end up paying a very big price for their error. We will see some negative reviews from traders who got burned by the Forex Kore EA.
Bad Reviews from Verified Users
We have a lot of negative reviews for the Forex Kore EA from those who paid for the software. Some of these reviews are shown so you can understand the utter frustration experienced by some of the traders in question.
One user complained about the lack of support, which is not surprising. Many EAs are marketed by faceless individuals who do not want to be publicly identified once their products go bust. This is just another instance of such an occurrence.
Another user complained that he could no longer withdraw his funds after using the broker suggested by the vendors of the Forex Kore EA. There are also multiple complaints about the software crashing after some time, and the EA code being filled with bugs and errors thereafter.
There is not a single positive review for this software. How then can such a software be trusted?
Conclusion: To Trust or Not to Trust?
Forex Kore EA Pack does not show the elements of a trading application that can be trusted to deliver superior returns for its traders. Trading software must be reliable and able to withstand the dynamics of the market for years on end. The Forex Kore EA lacks all these and therefore is declared a forex robot that cannot be trusted.