Forex Enigma is an expert advisor that works with real money on a real account. The developers should have provided us with more information about how the system functions. There’s no core claim about the advisor written. Forex Enigma EA uses three types of the most popular automated trading strategies. Some of them are high-risk strategies and can blow up trader’s account when used unthoughtfully.

So, if the market goes the wrong direction it can end quickly with tracing Stop Out levels. From our analysis of this FX EA, we find that the system shows poor performance and a lack of vendor transparency. Although the vendor provides verified results and backtests, the MT4 tool is not worth the price due to the ineffective approach and the absence of vendor transparency. Forex Enigma is an FX robot that is designed to work on the MT4 platform. It uses multiple strategies to ensure profitability.

Live account trading results

To purchase this FX EA, you need to choose from the three packages available namely, the basic, standard, and professional package. Remarkably, the developers behind Forex Enigma EA maintain an elusive presence, refraining from any disclosure throughout their sales pitch. Crucial details such as their identity, location, or track record in the Forex markets remain conspicuously absent. Such omission raises concerns, as transparency is paramount in the realm of trading. Notably, the investigative efforts reveal that the website hosting originates from the Poloniex Crypto Exchange Czech Republic, a piece of information not volunteered by the vendor. This Forex robot does not have any customer reviews on its official website or on other sites like FPA, Quora, or Trustpilot.

1. Forex Enigma works well in situations where the price moves in a wide horizontal channel.
2. Forex Enigma EA uses three types of the most popular automated trading strategies.
3. The advisor works with a risky strategy – a Grid of several orders.
4. We don’t know the reason for this but, it’s insane to work with a Grid of 10 orders on a $1000 account.
5. To purchase this FX EA, you need to choose from the three packages available namely, the basic, standard, and professional package.
6. An unlimited number of demo accounts, automated trading software, free support, free upgrades, and a 30-day money-back guarantee are the features provided with the package.

The most important stat of these results is the very small sample size of 86 days of history. While the monthly return of 58% as of writing this is impressive, I have a funny feeling I will be updating this post in the coming weeks to comment about this account blowing. Time will tell I guess, but from 15 years in forex I can tell you that 50%+ per month from automated trading is not sustainable if you’re not risking the entire account on every trade. In this post I will be reviewing the popular Forex Enigma forex trading system by Karl Dittmann. Forex Enigma is an easy to use trading indicator for MetaTrader 4 charts that can give you trading signals for buy and sell trades. It is a visually appealing indicator with clear instructions for the trader.

Trading Strategy

The vendor of this robot is an independent third-party, so the quality guarantees from ForexStore do not apply to this product. You can see the list of robots with a guarantee from ForexStore here. The system closed only ten orders in October 2021. Forex Enigma is the system that doesn’t have a main statement about how everything works.

Forex Enigma Trading Strategy

So, we can neither say if traders are using the robot nor if they are pleased with its performance or not. The main danger for the Forex Enigma lies in the fact that on the flat sections one signal follows another and all of them close with a small loss (sometimes with a large loss). There is no filter for this case in the indicator algorithm.

They provide a trading account from FX Blue and two different backtests of a high risk and low risk setup. Backtests are as meaningless as tits on a bull moose so lets investigate this account they have running on FX Blue. It appears to only work on EURUSD, running on H1 timeframe. They claim it will be profitable on any MT4 broker. The claim to have many market leader innovations and that Forex Enigma EA has a unique ability achieve consistent profit month after month. That is all they tell us, that is literally it.

Primarily it is a scalping indicator that you can use on the 1 minute and 5 minute charts of any pair for some fast forex trading action. It could also be applied to longer term charts for those who prefer swing trading – this means to hold positions for a longer time. It doesn’t matter if you only have a few minutes or hours free to trade, it is flexible and as I will discuss later can even be traded on the go using the built in alerts. 1 real account with 1 demo account can be purchased for $149 with a 30 day money back guarantee, or 2 accounts for $199 or 3 accounts for $249. They use Click2sell.eu as their payment processor.

The lack of info raises a red flag for this FX EA. Wednesday with 22 orders is the less traded day. Most of the profits were obtained on Thursday, $106.51.

The devs provide only one FXBlue verified trading account running Forex Enigma EA. There are no Myfxbook accounts, which is disappointing because Myfxbook provides the most transparency when it comes to confirmed trading results. The account was started in January 2020 but we can see first closed orders only on February 24. Overall, it looks like there’s some kind of manipulation is going on, and I think that we can’t trust these results, especially with such a short trading period.

A live trading result verified by the FXBlue site is also provided by the vendor. After decreasing trading frequency, noting extended Grids, and checking a blown account, we’d like to note that the robot is not okay. The absolute gain is 30.1% when the monthly profit is 4.7%.

The vendor doesn’t provide us with any details on how these strategies work together, so it’s tough to conclude about their effectiveness. The vendor is selling Forex Enigma using click2sell service, so you can pay for the software via PayPal. We’re glad to see that devs provide 30 days money-back guarantee in case if account balance is in loss after 20 days of trading with Forex Enigma. Worth mentioning that the refund applies to the first purchased license only.

Why did it need to open 48 separate trades this fast at the same price and then close them all at the same price? All the trades closed within 3 hours with a 14 pip profit each. There was hycm review however no SL on any of the trades, so hopefully they use some kind of other metric/indicator for a SL.

Features of Forex Enigma

The maximal DD was 28.05%, which is quite normal for this type of EAs. Despite these claims, the sales page of Forex Enigma EA lacks the depth and technical insights typically expected from such offerings. While it targets the EURUSD pair on the H1 timeframe, specifics regarding entry and exit criteria, risk management, and trade execution remain scarce. This dearth of information may raise concerns among discerning traders, underscoring the importance of thorough research and due diligence before investing. I think it is important you learn why each Forex Enigma signal is generated, rather than taking them without having a good look at what is happening in the market to verify each trade.

As per the vendor info, this FX EA uses the scalping, trend, and half grid methods. A news filter is also present for effectiveness. The MT4 tool uses a programmed analysis along with the strategies. After you set the limits, scales, and other parameters, the system handles all the trading. There is no further explanation of the approach. We find the explanation vague which raises doubts regarding the reliability of this FX EA.