Forex Steam Review – 10 Year Trading Robot
Forex Steam is a popular Forex EA that has been helping entrants and experienced traders for quite some time now.
This software lands with 10-years of proven track record and is relied on by over 4,000 clients across the globe. This product offers free updates for life and is active on more than 10,000 accounts.
But, this is what we see on the official Forex Steam website. Is this product worth all the hype? Is Forex Steam still the best Forex robot available in 2020?
In order to find answers to these and many other similar questions, we’ve put together an unbiased review that will help you gauge the effectiveness of the Forex Steam EA in 2020 and beyond.
But before going further, we would like to do a quick breakdown of the official Forex Steam website.
The Official Forex Steam Website
Forex Steam’s official website consists of 6 sections. The ‘Home Page’ includes a list of features and short description highlighting the functionality of the Forex Steam EA. In addition to that, you can also find trading results of both live and demo accounts on the front page.
Some of the advanced features are also listed on the Home Page, giving users a sneak peek at what exclusive benefits they’ll get when they invest in this software.
The ‘About Us’ section highlights the working of the Forex Steam EA. This section also talks about the trading results and also provides an overview of the Light V10 version. Here, you’ll also get to know about the team leaders who have contributed to the process of software development.
The FAQ section answers all of your queries regarding the setting and use of the Forex Steam robot. General questions are already listed in this section. But, you can also get in touch with the support team if your concerns haven’t been addressed in the FAQ section.
The official Forex Steam website also includes a separate ‘Contact Us’ page that enables you to get in touch with the team by filling in the form available on the page.
The ‘Blog’ section includes the latest blogs and resources. Last but not least, there’s a dedicated Members area that is only accessible when you acquire a lifetime membership of this product.
We’ve found this website extremely user-friendly and informative. Even if you haven’t become a member yet, we suggest you must check their website out and go through the blog section. Also, have a quick look at features and verified trading results before you make your decision.
What We Like About Forex Steam
We’ve been using Forex Steam for two years and never had any issues so far. Forex Steam is an all-inclusive product that offers cutting-edge solutions to both beginners and experienced traders. It was extremely easy to download this software. Also, you’ll get a detailed guide and videos to help you get started.
What sets Forex Steam apart from others is their free regular updates. The developers seem determined about doing continued testing and optimization. And because of their constant efforts, Forex Steam has transformed immensely in recent years.
Forex Steam offers 4 licenses that can be used and reused on both live and demo accounts. There are multiple customizable features available that you can adjust according to your needs.
The availability of filters is an added advantage that helps you avoid unfavorable market conditions. All of these features, along with some advanced setting options (we’re going to talk about them in the following sections), enables traders to work in a low-risk environment.
When we started out back in 2018, our trading knowledge wasn’t sufficient. That was the time when we felt a need for a reliable and result-driven trading bot that can handle most of the work on its own.
So we did our research, read countless testimonials, and picked Forex Steam for our trades. From installation to actual working, never once did we have any difficulty.
We didn’t put our money right away and tested this bot on demo accounts first. This strategy did wonders for us. So yes, we would suggest you test this bot on demo accounts initially, and you can always go live once you see it is working perfectly with your trading style.
Forex Steam works on a time-restricted scalping strategy that has already proven to be rewarding and profitable for multiple currency pairs.
The good thing is you can customize settings as per your individual trading style. If you’re a beginner and not interested in making any changes, you can use this product as it is, though.
As far as trading results are concerned, you can easily track them on the official Forex Steam website. Also, you can gauge the previous performance of this EA on several independent websites, including Myfxbooks.
Forex Steam is our all-time favorite because the customer support it offers to its users is incredible. There are many options that help you connect with the support team, including email, live chat, and an online form available on the contact us page available on the official Forex Steam website.
We have contacted the Forex Steam support team multiple times and always found them helpful and responsive.
Honestly, the FAQ section listed on the official Forex Steam website answers most of the questions. So do check out that section first if you have any difficulty finding or using any of the software features.
Forex Steam comes with an array of useful features, including trailing stop and breakeven, advanced holiday filter, spread filter, and retrace technology.
Trailing Stop and Breakeven
The trailing stop and breakeven feature enable traders to fix a fluctuating stop-limit so that they can make bigger profits with reduced risk.
Advanced Holiday Filter
With an advanced holiday filter, you can avoid those specific days that give rise to unfavorable market conditions.
This one is our favorite feature. With a Spread Filter, the robot only enters trades when market conditions are feasible.
Retrace technology has been upgraded many times by the developers. This technology helps traders work in a low-risk environment and win more trades.
What We Dislike About Forex Steam
We wanted to give special attention to this section, as we know most of us are curious about knowing the cons of this product. But we’re really sorry to disappoint you as we couldn’t find any.
Sounds unrealistic, isn’t it? But it’s a fact. We’ve been using this product for quite some time now and truly admire what we get in exchange for an affordable price sticker.
We would still suggest you use this software for your trades and experience what it has in store for you.
How You Can Use Forex Steam
Using Forex Steam isn’t rocket science. Anyone with no or little trading knowledge can use this software without any difficulty.
Everything is clearly mentioned on the official website. So, make sure you give all the information a quick go before you start using this product.
As mentioned above, you can also change settings according to your needs. But, if you’re a beginner, we suggest you stick to the default settings.
Forex Steam is an ultimate resource when it comes to Forex trading. We hope you’ve found this review useful. Feel free to share your opinions and feedback in the comments section below as we’d love to hear back.