Easy Forex Profits is a Forex trading service that is completely automated using a free trade mirror service, via FX Blue. The sender runs an EA which broadcasts trading activity. Subscribers run a copier EA which receives the signals and automatically mirrors the sender’s trades. Each subscriber has full control over risk settings and all other trading activity, via the parameters in the receiver EA.
The advantage of this is that, once set up, there is literally nothing left to do and you can leave it running 24/7 placing trades on the FX markets. It also means there are no additional subscriptions to trade copier services required, so you just pay for the signals which are currently £50/month.
The Easy Forex Profits website is rather basic and suggests the vendor is actually a trader rather than a marketer, and the spelling/grammar supports this hypothesis. In fact I found myself reading it in an east European accent.
Still, what matters are the results and so far it seems to be going well.
I started receiving the signals at the beginning of August, but due to some issues I had with my VPS (I overloaded it by running far too many applications) I ended up upgrading and starting afresh mid August. This was unfortunate as I missed out on some nice winners but it’s been running fine since then.
I’ve set my risk to 2% which means that on each trade it sets the lot size according to the size of the stop, only risking 2% of my bank an any one trade.
I’m using a £1000 bank for the trial and so my lot sizes tend to be between 5p and 15p a pip at the moment, so really low risk. I had my first trade successfully mirrored on 17th August and since then I’ve had 62 trades with 37 winners returning a profit of £170.21, or 17% gross profit.
Subscribers are free to set whatever betting bank and risk per trade they like so, for example, using a £10K bank at 5% risk during the same period would have returned £4,250 gross profit, or 42.5% return!
November was a particularly quiet month with a lot of pending orders that didn’t trigger. I asked the vendor about this and he said that he sets pending market orders when he sees an opportunity but cancels them at the end of the day. He said that without such trade management it would have been a losing month and therefore he’s perfectly happy to not trade rather than have losing trades.
I agree with this approach and am perfectly happy with a 17% return in just over three months without having to do anything at all.
Happy to approve this service and I will continue to use it myself. I’ll do another update in the new year.
You can subscribe to Easy Forex Profits here.
Will this work on a spread betting account please?
Yes, it works on any account that has an MT4 platform and most spread betting brokers do.