The TSFX EA is a forex robot built for the MT4 trading platform and claims to be the best expert advisor. The vendors describe the TSFX EA as “a mathematical two-martingale algorithm with the logic of closing orders from the established risk and account balance”.
The cost is $199.99 for the basic version which trades only the USDJPY currency pair. The full version trades all currency pairs and the price tag is $299.99. All versions feature fully automated trading, automatic risk adjustment, quick setup, free updates and support. There is also a two week trial version for the price of $29. The vendors state clearly that they do not provide a demo version for the TSFX EA. The requirements are: $5,000 or more for live trading, MT4 platform and 99.9% stable VPS server.
Martingale is a risky trading strategy, but, the developers of TSFX EA believe that they have designed a perfect way to maximize profits and escape the huge drawdown associated with Martingale systems. The begging questions are: How true are the vendor’s claims? Are we to trust the TSFX EA or not?
TSFX EA: To trust or Not to Trust?
There are some factors that need to be properly examined before answering the question of trust for this EA. Some of them are:
The Myfxbook account provided for this EA shows a gain of 345% from April 2017 to April 2018 on a demo account. Indeed, the TSFX system shows several profitable charts, all on demo accounts. But this is where things start to get interesting.
We did a search for a real account using this robot and found that there was indeed an instance of the TSFX robot being used on a live account. Lo and behold, the account was in the red.
We tried to open the charts for the real money account that had suffered 99.84% loss of capital and found that the details had been blocked from public viewing. Is this not a calculated attempt at deceiving members of the public?
There are no back testing results for this EA. This is not a good sign from the vendors. The TSFX EA is supposed to have gone through years of verifiable back testing. This would have made room for proper analysis. Forex traders understand the martingale system. The profits accumulated over a period of time can be blown up in one single bad trade. Hence, the need for a thorough back testing.
The vendors of this EA refused to introduce themselves, give an address, contact phone numbers or email. Their website is a simple and cheap one-page site. The only way to contact them is to fill the “contact us” form on the homepage. Though the vendors may not be scammers, but, this is the modus operandi of the numerous forex robot scammers. They are usually anonymous and provide no money-back guarantee and no free trial period. The vendors of TSFX did exactly the same thing.
Lack of Positive User Testimonials
There are no positive user testimonials for the TSFX EA. Perhaps, traders are not willing to give them a chance by trying out this EA.
CONCLUSION: TSFX is Not to Be Trusted
On account of the attempt at deception on the Myfxbook screenshots, this robot should not be trusted for any reason. The fact that it uses a risky Martingale system even serves to buttress this fact.
This EA is also too expensive considering its system of operation and relative cost when compared to other robots in the market. It will be difficult for a trader to buy this EA at almost $300 and then deposit at least $5,000 for live trading. A large percentage of forex traders will never try using such a Martingale-based system which only works on demo but fails woefully on a real money account. So, our advice is simple: stay away from the TSFX EA because it is not a robot to be trusted.