Forex Steam is a powerful trading robot that has been providing traders with hundreds of thousands of pips for years.
We wanted to share some tried and tested forex EA reviews since the start of 2020 and here we're with a comprehensive review of the Forex Steam robot. You must have heard a lot about this EA, or maybe some of you have personally tried it as well. Forex Steam is owned and operated by a Canada-based company Steam LTD.
Here, we would like to mention the Forex Steam's customer care, which is by far one of the most experienced, friendly, and knowledgeable support teams we've ever come across.
What is Forex Steam?
The answer to this question is pretty simple. Forex Steam is a popular forex robot that incorporates Advanced Retrace Technology. If you're not familiar with this term, it is basically a money management system that enables us to set stop-limit up and win more trades.
The Advanced Retrace technology works on the low-risk principle that sets a bar and saves traders from losing money than stated.
The holiday filter is another useful feature that lets traders avoid unfavorable market conditions. We'll be discussing all of these features in the subsequent section in detail.
The developers hold 25 years of combined experience, and they're always willing to help traders achieve their trading milestones. The product currently is available in version 9. But speculation suggests that version 10 will hit the markets soon. The good news is that the version upgrades will be provided to all the present users free of cost.
This software has undergone multiple updates in it’s over 10-year history and has helped thousands of traders achieve their trading goals.
On the Market for 10 Years
Forex Steam has a proven track record of more than 10 years, and it's relied on by over 4000+ clients all over the world.
What sets Forex Steam apart from others is a series of trader-friendly features, including trailing stop and breakeven.
Forex Steam comes with a price sticker of $117.99. The package includes a quick download, life-time membership, free installation, and 4 licenses. Noticeably, these licenses can be used on both demos and live accounts.
The availability of demo accounts enables traders to test their strategy before they go live and trade with real money.
Developers offer plenty of updates and members are entitled to receive them without paying any additional penny.
The Forex Steam platform is particularly designed for MT4 platform. There are two versions available – Light and Regular version.
Forex Steam – Trading Strategy
Forex Steam is basically a scalper that works on a time-restricted strategy. This combination has proven to be incredibly result-driven particularly when combined with multiple pairs and adjusted stop loss settings.
With Forex Steam, you can enjoy incomparable control and flexibility. There are two options available. You can either depend on the default settings or can also opt for custom settings to get desired results.
This is certainly one of the biggest reasons why Forex Steam is popular among experienced traders as it allows them to experiment with different trading approaches and styles.
The good thing is the retrace technique perfectly aligns with the scalping approach and helps traders secure more wins and limit losses.
Forex Steam – Advanced Features
Advanced Retrace Technology
Advanced Retrace technology is just great to secure wins and prevent losses. This feature has been part of this robot since the early days. The purpose of this feature is to provide traders protection against market fluctuations.
Also, the developers have updated it many times to ensure it remains consistent with changing market conditions. This feature is beneficial for any level of trader. The Advanced Retrace Technology is designed to double your account in no time.
Advanced Holiday Filter
The Advanced Holiday Filter is similar to the News filter. With this feature, you can avoid holidays that trigger unfavorable market moves.
The software automatically takes into account the list of popular holidays that it wants traders to avoid. Also, you can adjust settings by adding any other day you wish to avoid.
The spread filter is another useful tool that you get with this robot. Its purpose is to restrict the EA only open or closes trade when market conditions are feasible.
Trailing Stop and Break Even
This feature enables traders to set a moving stop-limit so that you can secure bigger wins. Although this option does not come activated in the default settings file, you can turn it on for your advanced trading requirements.
Forex Steam – Trading Results
Transparency is certainly one of the biggest factors why there's a huge fan following for this EA. The developers provide different trading accounts. Also, you can track the trading accounts provided by third-party sources.
Although, we have been using this software for more than 5 years and vouch for its performance and results, we suggest you to do your own research or use this product personally for your trades to see how it works.
You can also see verified trading results on Myfxbooks. The official Forex Steam website depicts a number of reviews/testimonials from other clients. Also, there are many third-party independent websites from where you can crosscheck the credibility of this software.
Over 8,000 Active Clients
The popularity of the Forex Steam software is pretty evident from the list of users holding an active account. According to the website, they have more than 8000 active users, which we believe is pretty impressive.
One of the biggest reasons why Forex Steam has such great following is its flexibility and ease of use. Compared to other options that need certain initial investment (which by the way isn’t very less), you can start trading with minimum amount.
This is incredibly beneficial for beginners and conscious traders who don’t want to risk a huge amount at the start of their trading career.
All in all, we believe Forex Steam is the product you need to cope with the challenges of the modern trading world . It includes all the relevant and useful features you might need to speed up your trading journey.
This product is affordable, feature-rich, and enables traders get the best out of the trading world without putting a huge chunk of investment at stake.
The trading strategy is pretty amazing too. Also, you would be able to receive many updates from time to time. These updates will help you alter your trading strategy according to the market conditions and price movements.
But again, it’s important that you trade on the demo accounts first for a few months. Based on the performance and returns, you can take a decision to go live and invest your money.
It’s also important to understand that there is no tool available that could help you become a millionaire overnight. So, it is equally important to keep your expectations realistic and work hard to achieve sustainable growth and progress in the forex world.
Have you tried automated approaches for your trades yet? If yes, which specific tools you’ve used so far? Please share your experiences, suggestions, and queries below as we would love to stay in touch.