Here is my honest review of Forex Steam in 2020. I have owned this forex robot (EA) for for over 2 years but wanted to put out this review so you can learn whether it is worth buying or not.
I hope you enjoy watching my review. If you have any comments or questions please post them at the bottom of the page.
Here is the transcript from this video review of https://forexsteam.com/
Hello, It’s Jonathan here, back with another episode of Trade Wise. And in this video, i’m going to be talking about Forex Steam, which is an EA for MT4. So if you’ve heard about it, maybe you’re thinking of buying it, I’m going to be talking about it in some detail in this video. I do want to just start with a little bit of a warning, there is a lot of misinformation out there about this product. So please make sure you watch this video right to the very end, just so you get as much of a balanced review from me as possible. Whether or not you choose to buy after that is entirely up to you, but I’m just going to give you the information and leave it with you to make your own mind up about Forex Steam.
As always if you find any of this helpful, please give me a thumbs up, I always really appreciate that. And subscribe to my channel, because I’m always putting out review content such as this. Some products that I review are good, some of them bad, but i always just give a 100% honest feedback and information. And also, don’t forget on my website you can actually claim, for free, the products and services that i’m using myself right now, The ones that are consistently making money. A lot of them just run totally on autopilot. And once you set them up, you can pretty much just let them bring you in 10% to 20% per month recurring, without any real input. So some really great products that I’m using right now, you can get them on the website.
But anyway, without further ado. Let’s talk about Forex Steam.
What is Forex Steam?
All right, so let’s get into this Forex Steam review. So here i am, i’m at forexsteam.com. And now for those of you who aren’t familiar, This is an EA. Which basically means it’s a piece of software that will run on your MT4 platform.
How Does Forex Steam Work?
And once you set it up, the idea of an EA is that it will auto trade your account. And there’s a lot of these available on the market place, there’s hundreds or probably even thousands that you can buy, i feel like i’ve bought most of them. A lot of them don’t make money. And the reason that a lot of them fail is because it’s a notoriously difficult thing to do, obviously. Making money on the Forex markets at the best of times, even for professional traders with decades of experience. And so to say that a relatively small and simple piece of software can out think some of the most experienced minds out there is a little bit far-fetched.
Is Forex Steam a Scam?
With that being said, there are one or two products that have a proven track record, so i’m not trying to say that the whole industry is a scam or should be avoided. But you should always be a little bit cautious, if you’re going to let a piece of software to try and make money for you, that’s very rarely that’s straightforward. Now they’re saying that they’ve been around for 10 years now, it says here on the top corner, 10 year winning EA. And they’ve got this back history on the percentage returns each year. And I’ve noticed that there’s a lack of a Myfxbook results in all of these, which I do find a little bit of a concern. They’re saying that This is summary here, they’re saying Verified Results, but there’s nothing here that makes me see that or think that, in any way, verified. It’s on their website, it looks like a statement that could easily be falsified. I don’t see how this is particularly verified results. I would really like to see something from a third party, like Myfxbook, that’s a verified account.
Forex Steam on Myfxbook
I’ve had a quick look on Myfxbook, and there are some Forex Steam named accounts. Whether or not this is the same bot, i don’t know. It’s very difficult to tell. They’re mostly losing. This one, Forex Steam A, has made 150% since 2015, but that’s very different than what’s claimed on the website. So i’m not saying any of those on myfxbook are genuinely legitimate profiles, I suspect these people have bought them and set up Myfxbook to showcase the results and stopped it when they’ve started losing money on it. But at the very least, I would’ve expected Forex Steam, something with a 10 year trading history, to have some verified results from a third party.
Forex Robot Nation
What really concerns me most about Forex Steam, just to cut to the chase really, is that i bought similar products to Forex Steam before. Because I’ve been looking into the Forex market for quite some time, I’ve bought a number of products and services, most of which have turned out to be fairly useless. But one website that kept popping up, time and time again with reviews, is Forex Robot Nation. And basically what Forex Robot Nation are doing is writing reviews of products, without buying them. They’re giving them a poor review and they’re then getting you to buy these products on the right, of which Forex Steam is one here. And these are the top rated products on the right hand side. All these three products are owned by the same person, and the person also owns Forex Robot Nation. So basically, if you are coming off the back of reading reviews on Forex Robot nation, and you’re thinking “Oh, this would be a great product to buy”, just take it with a huge pinch of salt. Because this website is bound to tell you Forex Steam, Forex Fury, and Binary Strategy are all good products that are making huge profits, because they own it.
Are Forex Steam Reviews Genuine?
So they’re going to tell you that. That doesn’t mean, straight away, all of these products are going to be scams or anything. I’m not trying to take them down in any way, but I do feel as though it’s a dishonest way of promoting their products and services. And really, I would like them to be more transparent about the fact that they’re all connected and that they’re all owned. And also just to advise people, really. I just want to make many people aware as I can, that you shouldn’t go buy products just off the strength of the back of Forex Robot Nation or anything similar from them, their Youtube channel or whatever. Because I just don’t feel as though you’re going to get genuine, honest, impartial advice on that. And as for other reviews as well, I also see a lot of what I believe to be fake reviews about these products, anyway.
The ones I have are more extensively accurate than Forex Steam are Forex Fury and Binary Strategy. You’ll see review videos for those on my youtube channel, feel free to watch those. And for me, I haven’t been profitable with these products and services. That’s not to say that you won’t, there might be ways that you can be profitable. I mean, even Forex Robot Nation themselves are rating Forex Steam a lower overall score than Forex Fury. But on their website, they’re saying that they’ve got a 10-year history on the account that was made, let’s see how much this is made. Supposedly made $8.3 Million on return, in one trading account. As i say, totally unverified. And i will be highly skeptical of that.
Now if you do not believe me, if you think I’m talking nonsense, that’s absolutely fair enough. There is evidence there that these are all connected. I mean, if I’m just on the website now, in the footer here, you can see on their recent posts, they’ve talked about why Forex Robot Nation is the ultimate resource. They’ve talked about Forex Fury, which is the other recommended product on the website. And they’ve probably talked about the Binary Strategy one, as well. I don’t know why on their websites… if this is an independent EA, I don’t know why they would be promoting these other websites, and particularly, another EA. Number 1 downloaded EA is Forex Fury. So you can see the signs there that these are all connected and linked together. And if you watch my other videos on these products, you will definitely see that it hasn’t been profitable for me, anyway.
Leave a Comment
If you still think that you want to give them a try, then by all means, go ahead and do so.And I would love to find out what your results were. Please add them in the comments below. Join the conversation and let me know how you get on.
Is Forex Steam Profitable?
As i said, they weren’t profitable for me, but that doesn’t mean it’s not for you. The way I set it up may have been wrong or there may have been updates since then, But i just feel like I have fallen into the trap of buying products after products, based on this Forex Robot Nation, before really understood the truth of what was going on behind the scenes.
Forex Steam Overall
And so that was pretty much it, really. Make your own mind up armed with that information. Hopefully, I have helped some people to avoid falling into the same kind of trap i did. But as I say, If you go ahead and buy it, and particularly be successful, let me know. And let’s see how many people can come forward and say that they’ve had a positive experience with these products.
That’s it, I think, for this video. Now if you find this helpful, please give me a thumbs up and subscribe. And don’t forget, that on my website, you can get the products and services that I am using right now myself. A lot of them run on autopilot, a bit like these EAs do. There not all EAs. One of them, in fact, has professional traders behind it, that is currently yielding about 15% to 30% return per month, completely on autopilot. I just set it up and they trade my account for me. So, some really fantastic products right now, which you can get. Just jump over to the website, and on the right hand side of the screen, you will be able to get the subscription link for that.
Thank you so much for watching this video, and I will see you on the next one. Bye for now.
Looking for a profitable way of trading? Check out my Gorilla Trades review.
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I’m Jon, owner of Trade Wise at https://tradewise.community/ and https://www.youtube.com/channel/UC7VmOx8DbvX4Rbrac2pPcjw
I review forex and crypto trading products and services to find the best of what’s out there for creating a passive income without becoming a full-time trader.