Forex Gump Review: trade with a modern expert advisor
In this thorough review of Forex Gump EA, you can learn more about a relatively new yet already well-liked forex trading bot. Our expert team has analyzed every aspect of the robot EA to understand why it has made such an impact.
Forex Gump EA can be used in conjunction with MetaTrader 4 and supports nine currency pairs. It also boasts unique filters and can be used with multiple live trading accounts.
If you want to find out more what Forex Gump has to offer, and whether or not it will help to improve your forex trading return, then continue reading our full review of this modern EA.
How does Forex Gump work?
The first thing our expert review team discovered was that Forex Gump is a MetaTrader 4 EA (Expert Advisor). It cannot be used with other platforms so, if you plan on using the Forex Gump trading bot to assist with your trading, you must be trading with a broker who offers the MT4 trading platform.
With this prerequisite in place, our Forex Gump review team found that once you’ve bought the software, you can activate Forex Gump on up to three live trading accounts.
The Forex Gump robot has the ability to trade 9 currency pairs (AUD/USD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/USD, GBP/USD, USD/CAD, USD/CHF and USD/JPY) and is completely automated based on the risk profile and parameters you set within the software’s dedicated dashboard. The three risk profiles you can select from are high, medium, and low risk, and all trading is done in 1-minute timeframes.
Once turned on, the EA is operational 24/5. It will continue to search for profitable opportunities until you turn it off. As such, our review team found it was very important to ensure that you have set up to suit your trading style and budget perfectly.
Forex Gump works with a minimum of $4,000 in your account, or a minimum of $40 in a micro account. The developers also state that the robot works best with leverage of 100:1 or higher.
How much does Forex Gump cost?
Our Forex Gump review team found two available price plans for you to choose from. The first of these has a one-time payment of €199. This entitles you to utilize the software on one live trading account and one demo account. You will also benefit from free updates and 24/7 customer support.
The second option is priced at €399. This is also a one-time payment, which allows you to use Forex Gump with up to 3 live accounts and an unlimited number of demo trading accounts. Again, you can benefit from round-the-clock customer support and free updates.
When should I use Forex Gump?
As Forex Gump is an automated trading robot, there are a number of user types who may benefit from using this software.
If you are a busy trader or someone with a degree of forex trading experience who would prefer a more hands-off role, this could be the ideal solution for you. The more expensive plan is also perfect if you have multiple trading accounts.
Our Forex Gump review experts also believe that, given the reasonable cost of this trading robot, it would also be suited to intermediate retail traders. Of course, to get the most out of the software, you have to be happy sticking to the 9 currency pairs it works with.
As the software works best with high leverage, complete novices should avoid investing until they get to grips with trading on margin. Moreover, you should also have at least a basic familiarity with the MT4 trading platform in order to correctly engage the robot.
Pros and cons of using Forex Gump
- The Forex Gump trading robot can help in significantly streamlining your trading operation. This can be excellent if you are trying to save time in researching and executing trades.
- As with most forex trading bots, it can pinpoint a trend with almost complete accuracy. Operating within 1-minute timeframes means you will never miss a trading opportunity.
- Works with both standard and micro-accounts, so it is suitable for all types of budgets.
- The Forex Gump robot comes with a 30-day money-back guarantee if you are not satisfied for any reason.
- Some traders may be disappointed with the functionality of Forex Gump, as it only works with 9 currency pairs
- Performs best with leverage of 100:1 or higher, which is unobtainable for most EU traders.
Is Forex Gump easy to use?
Our reviewers were extremely impressed with the convenient design of Forex Gump. You can simply add the EA to MetaTrader 4, and from there you can set your parameters and trading strategy.
Once set up, there’s no need to touch the robot unless you wish to change your settings. This leaves you completely free to focus on anything you wish while your trading strategy is enacted.
If you encounter any issues or have any questions when installing Forex Gump, you can contact customer support at any time.
Overall, our Forex Gump review team found the robot to be efficient, user-friendly, and affordable. They would be happy to recommend it to a wide range of traders, due to the fact you can set it up to match your preferred risk level. The team also appreciated that it can be used with both standard and micro-accounts, which means that you don’t need much capital to get started.
As the robot also works in conjunction with MT4, it can be used at almost all top-quality brokers. What’s more, installation will be extremely easy for traders who have experience with the platform. If you wish to try this EA, a range of trustworthy brokers who accept Forex Gump integration can be found below.