Forex Envy is the most recent expert advisor to become popular in the fx community. Among the main reasons for its popularity is just because it utilizes a martin gale type strategy. Martingale trading strategies work well in forex trading for the simple reason that currency pairs tend to trade within ranges, not like stocks currency pairs can in no way go to zero either. Personally I am a huge fanatic of martingale techniques for use in forex and of course this one of the factors that the forex envy expert advisor has become so prevalent.
Of course given the leverage that is essential when using forex envy it will only work with particular forex brokers. In order for the expert advisor performs correctly it's essential to use a leverage of 1:500, for some this may sound a little excessive however when you really understand the reason behind this expert advisor you'll understand why 1:500 leverage is important.
The good news regarding the forex envy expert advisor is that it doesn't involve scalping or high-frequency fx trading techniques which are normally unreliable in real trading circumstances where slippage, re-quotes, latency can occur this is the reason it works on a good number of broker platforms. However after much testing I've discovered that this interesting robot performs best on IC Markets True ECN fx trading platform. On the list of reasons why the performance of this EA through my testing phase worked a lot better on ICMarkets True ECN account was due to the fact that the forex envy robot was able to deal in large lot sizes with modest slippage or deal execution speeds.
I have been running the forex envy robot on IC Markets True ECN account for 3 months now with exceptionally good results. My returns have averaged 8% per week which is outstanding. Like every astute currency trader I also analyse my deals closely, the average execution speeds on my deals over the last 3 months averages 120 milli seconds, slippage is almost nonexistent. All in all I am pretty pleased with the forex envy robot and particularly its profitability on IC Markets True ECN account.
Obviously the forex envy ea does have its downsides also, one of these downsides is the fact that the robot needs a comparatively big capital base this is especially the case if the broker which you opt for doesn't provide micro lot trading, luckily my forex provider ICMarkets does allow micro lot forex trading on its ECN accounts.
So if you're in the market for a fantastic robot that is profitable regardless of marketplace circumstances you really shouldn't let the forex envy ea pass by. My forex provider IC Markets is quite familiar with this robot as they deal with most of the traders which have invested in this ea, this gave me a massive advantage as they were capable of aid me with adjustments within the ea, a number of which required detailed fine tuning in order to maximize the profitability of the robot.
I do advise that you carry out some research into this robot before you take the leap and buy it, there are many review sites which you can find on the web which have allot of valuable information. You should also do your own homework as to which broker works best with this expert advisor however from the research that I've personally conducted IC Markets beats all others hands down when it comes to maximizing the profitability of the forex envy expert advisor. You should also read an IC Markets review to ensure that this broker is actually the correct selection for you.
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