Forex Fury is an expert advisor (EA) forex trading robot that was developed by Patrick Ryan, the CEO and founder of the ForexRobotNation review website. Due to the EA’s increasing popularity, the Forex Fury development team expanded to include Joe Damien and Haroon Mir as head analyst and developers respectively. The initial version of Forex Fury’s trading robot that was coded to run automatically on the Metatrader 4 and 5 (MT4/5) online forex trading platforms that first appeared in 2015. This fully automated forex robot has since become well-regarded among currency traders who use the MT4/5 platforms.
- MT4 and MT5 traders
- Algorithmic traders
- Beginning and experienced forex, crypto and index traders
- Includes low, medium and high-risk automated strategies
- Practices sound money management
- Trade any currency or crypto pair or index
- Multiple filters to avoid unfavorable market conditions and bad prices
- No free trial or mobile app
- No live chat or telephone contact for customer service
ForexFury Ratings at a Glance
According to its website, the Forex Fury trading robot is the most effective EA on the market with a 93% winning track record on verified Myfxbook accounts. The site claims the robot provides traders at all skill levels with the opportunity to have the robot trade both safely and aggressively at the same time.
The Forex Fury robot complies with all relevant National Futures Association (NFA) rules, including the NFA’s “first in, first out” (FIFO) regulations. The EA can be run on MT4 and MT5 Build 600, which is MetaQuotes' latest build for MT5. The robot can also automatically trade through electronic communications network (ECN) brokers.
The Forex Fury EA offers tested and proven setting (SET) files with different settings, and new settings are always in development. You can choose between settings for high-, medium- and low-risk strategies that include effective money management features to help ensure your account’s sustainable growth.
Forex Fury can be installed in just five minutes and comes with a full range of tutorial guides and videos. The software should work with any online broker that supports MT4/5, and you can set the robot to trade any forex pair, stock index or cryptocurrency fully automatically. In addition, the Forex Fury robot features multiple filters so that it avoids trading on bad prices, as well as in overly volatile or potentially unprofitable market conditions.
The robot uses a range-based strategy to find trading set-ups, and it then initiates and liquidates trades according to the risk settings within the predetermined one-hour time period. The robot typically trades during a low volatility market time frame.
You can find Forex Fury’s verified trading results listed on the third-party website Myfxbook linked here. These metrics include its trading results for various currency pairs in demo or live accounts, as well as for USD/JPY in a demo account using the Forex Fury V4.1 software. You can view the leverage ratio used and the maximum drawdown, in addition to the profits earned, expressed as the percent gain and in pips. The currently available and upgradable versions of Forex Fury include 3.1, 4.1 and 5.1 versions, although the 5.1 version of the Forex Fury software is still in beta testing.
Forex Fury’s customer service consists of a contact page where you can find a form to email the company with a comment box for you to submit your query. The website asks that you please check the website’s frequently asked questions (FAQs) page before submitting your inquiry.
The website boasts a “lightning-fast” response time with emails answered between 8 a.m. EST and 7 p.m. EST. To put that claim into perspective, a response to a test email sent to Forex Fury’s customer service via its website was received about an hour after the original email was sent.
Compared to other robot vendors, this is a very fast response time, and the level of support provided via email was effective. Many people with limited forex trading experience might need additional assistance with an issue especially if they’re on the losing side of an automated robot trade. So, it’s good to get a response within a few hours.
No telephone contact or live chat feature currently seems to exist on Forex Fury’s website, although additional contact options can be accessed through the company’s social media presence. Forex Fury can be reached via Facebook, Twitter, and LinkedIn messaging and possibly also via its Blogspot, WordPress and Weebly pages.
The Forex Fury EA does not come with an unconditional money-back guarantee. You instead have to actually use the software to qualify for a refund within 60 days from purchase if you remain dissatisfied with the product. These requirements include providing 30 days of trading results in a live or demo account using 1 currency pair per account. You must also have the EA trade the designated amount of time each day.
Regarding the security of your deposited funds, Forex Fury is not a broker and only accepts money as payment for its EA licenses and the use of its proprietary trading algorithm and settings. Accordingly, no major security issues should exist when using the trading robot that might compromise your funds, other than the usual market risk.
To find a suitable online broker to use Forex Fury with, you first need to make sure the broker supports MT4/5, and then you can check its reputation and regulation before opening an account. Many offshore forex brokers operate without significant oversight, so your funds could be at risk if you intend to trade through a poorly regulated broker.
The Forex Fury forex trading robot can be purchased for $229.99 for the Gold membership and $439.99 for the Diamond membership. The main difference between the two Forex Fury licenses is that you receive only one account license with the Gold membership, while you receive two licenses with the Diamond membership.
You can use the software in demo accounts without ever signing up for a live brokerage account. Yet, in order to use the Forex Fury EA in a live account, you must deposit with a broker. Starting with as little as $100 on a micro account. So you’ll need to deposit with a broker to use the Forex Fury robot in each live account where it executes trades.
If you go to MQL5, a robot marketplace, you will find the average price for top rated robots ranges from $349 to $1745, making Fury a very good deal.
The user benefits of Forex Fury include free updates on any of its versions, as well as unlimited demo accounts so you can test multiple strategies and gauge how profitably the robot trades.
Forex Fury V4 Stable is the latest version of the EA, and it has been optimized for current market conditions. In addition to market optimizations, the latest version of the software includes:
- Trade direction: This feature allows you to select longs only, shorts only, or both long and short positions.
- Dynamic retrace: The dynamic retrace feature lets you disable your stop loss and use a retrace instead.
- Martingale: This feature activates the Martingale strategy, which uses a lot multiplier and max steps to determine the larger size of each new trade using Martingale principles. This feature was not used in any of the verified Myfxbook Forex Fury accounts, but it may be applied in the near future. Many expert traders consider the Martingale strategy to be a high-risk trading method that can blow out an account since both losses and gains are magnified with each iteration. So clients have a choice whether or not they want to use this feature, or any other feature.
- New panel: A new panel is added to your interface and can be displayed in any of the four corners of your chart at any time.
If you’re using an older version of Forex Fury, you might want to consider upgrading to the latest version. The developers currently have Version 5 in beta testing that will have a news filter to avoid trading in times of extreme market volatility.
Forex Fury is third-party EA software coded to run for the MT4/5 trading platforms, so anyone already familiar with the MetaTrader platforms will find the software easy to install and use.
When you purchase the robot, you’ll receive full-length installation guides and walkthrough videos illustrating the ease of installing and running the software. Once installed, you’ll be able to adjust the risk settings on the robot to its low-, medium- or high-risk settings.
Since the software is fully automated, it requires no human intervention to enter into and close out trades, which makes it ideal for beginners. Also, many experienced traders commenting on the EA have stated that they use the robot in combination with their manual trading strategies.
Forex Fury vs. Competitors
Forex Fury’s website claims a very high success rate of 93% and aims for an average return of 10-15% per month for the EA. These numbers place Forex Fury at the top of forex trading robots in the business.
The robot is ranked #1 at ForexRobotNation, #1 at Forex Ratings, #1 at Learnbonds and #1 at WikiJob as well. In a few of these cases, you can see Fury listed as #2, but if you look closely, you will see that the #1 rated service on a few of these pages is actually a signal service, and not a robot. Pushing Fury to the top spot.
The main drawbacks of Forex Fury are that a free trial is not available and the EA requires regular learning. Many of the other robots rated highly in this market, like 1000pip Climber, or Ganon Forex Robot do offer trials. Yet, neither of these systems has a single verified live account, despite being asked by the community for these details for many years. Both these services are also cheaper than Fury, but that’s likely because they are unable to produce live trading proof.
Benzinga has also created the chart below to help you assess more objectively how Forex Fury measures up against its primary forex trading robot competitors.
Benzinga’s overall rating for the Forex Fury trading robot is 4.5 stars. The main reason for this less-than-perfect rating for the bot is the EA’s high pricing, which is more than double what some other forex trading robots currently cost.
Other notable drawbacks include its lack of a free trial or unconditional money-back guarantee and its email-only customer support.
With that noted, the Fury robot is a market leader and its Myfxbook results are excellent, so Forex Fury is currently our #1 rated robot here at Benzinga.
Forex Fury Video Tutorial
Patrick has released version 4 of his popular and unusually successful proprietary forex trading robot Forex Fury, and version 5 is currently in beta testing. This tutorial video describes how the fully automated and updated Forex Fury V4 trading robot runs as an expert advisor in MetaTrader 4 and 5. The video covers Forex Fury’s historical returns, its new features and how to get started using the popular EA to scan the forex market for various currency pairs so you can trade them automatically.
Frequently Asked Questions
Do forex robots actually work?
Some forex trading robots have demonstrated reasonably consistent trading profits over the long term, although not all marketed forex robots can legitimately make that claim. One trading robot that has done this is Patrick Ryan’s Forex Fury, which runs as an expert advisor (EA) in MetaTrader 4 and 5.
How much does a forex robot cost?
Forex robots can be purchased for a wide range of initial prices and subscription fees. Many forex trading robots are free-to-use expert advisors (EAs) that run on the popular MetaTrader 4 and 5 online trading platforms from MetaQuotes. You can also develop your own robot for free or pay someone to code one for you. An example of a decent off-the-shelf forex robot you have to pay a fee for is Forex Fury, which is available to purchase for a few hundred dollars plus a per-account fee. You can read more about that EA robot here.
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