Forex Steam has been around for more than 25 years. This software has been developed by the same team of developers who have introduced Forex Fury.
This product comes with almost everything a trader needs to open or close his trades. The software comes with a 10-years of proven track record. Also, there are over 10,000 active Forex Steam users worldwide. So, one thing is pretty clear that Forex Steam has been trusted and admired by thousands of people worldwide.
I have started using Forex Steam since last year. Just like all of you, I was skeptical at first and didn’t want to experiment with the customization feature until recently when I decided to take a leap and thought to use this Forex robot with my own settings.
What is Forex Steam?
Forex Steam is a 100% automated bot designed specifically to cater to the needs of beginners and experienced traders.
This powerful and super-reliable automated EA is one of its kind and offers a wide range of options for both beginners and seasoned traders alike.
This software is priced at $117.99, which is a one-time payment. Although the team behind Forex Steam is on a constant lookout for improvements, they never charge an additional penny to cover their research and development costs. There are no upsells and you’ll receive upgrades for free for the rest of your life. Interesting, isn’t it?
Forex Steam – Features
In all honesty, it took me not more than 10 minutes to set up Forex Steam on my system. All I had to do was to pay the subscription charges, and I got my downloadable link right in my inbox instantly.
Also, I didn’t have to wait for a second to use my product once the installation process was done. So yes, the entire installation process was a breeze.
Free Upgrades for Life
When you go to the official Forex Steam website, you’ll come to know that the developers are super creative and experimental. They conduct ongoing research to find ways that can help them make their product more promising and functional. However, I haven’t been asked once to pay anything extra. Yes, I received constant updates (that have literally upscaled my trading journey and helped my strategy keep going with the ongoing market changes). But they haven’t charged any money for that.
Team Forex Steam promises free upgrades for life. Yes, you read that right. They’ll keep changing their algorithm to make it consistent with fluctuating market conditions, and they’ll keep all of us informed without charging anything in return.
Forex Steam’s verified live trading results are already listed on their official website. Also, you can track them on Myfxbooks if in case you have a doubt about the authenticity of results on their own page.
Supportive Customer Care
This is the most important factor for me. I’ve always wanted to invest in a bot that has strong customer care behind it. Since I had zero trading knowledge when I first started out, I wanted to have full support from customer care.
I think what sets Forex Steam apart from others is the fact that their support team knows how to deal with the buyers.
Forex Steam features a retrace technology that is the proven way to have more wins. Also, it contributes a lot in limiting losses.
This tech has been an integral element of the Forex Steam software for the past 10 years, and the team has updated it multiple times to ensure it stays consistent with the trending trading algorithm.
Forex Steam comes with multiple built-in filters that prevent traders from trading in high-risk or unfavorable situations.
How do you use Forex Steam?
It’s easy. In fact, it’s super easy. Simply install Forex Steam on your system. You can either choose to stick to the built-in settings or can also experiment with your own customized settings.
The good thing about Forex Steam is that it can run on both MT4 and Mt5 platforms without any difficulty. I suggest you backtest this EA on demo accounts first, so you get to know about how it works. Once you get familiar with its functionality, you can jump onto the live version.
My settings for Forex Steam
I suggest you set your TP in the settings at 8. Setting your trading profit at 8 can yield you exciting, small, risk-free profits on a day to day trading.
I chose to stick to 70 as my selling loss as I wanted to maximize my chances of remaining in a good deal.
Pip retrace: Default
I chose to stick to the default pip retrace settings as honestly, the default retrace settings have worked wonderfully for me in the past (even with different spread limits, TPs, and SLs).
Max spread: 7
With my TP fixed at 8 and SL at 70, I chose to keep my maximum spread at 7. The idea was to experiment with this combo to see how it will result in the end.
The rest of the settings default
Except for these 3 basic things, including TP, SL, and spread, I haven’t touched any other settings and left them as it is.
My results with Forex Steam
Interestingly, with this combo, I managed to gain unexpected results. The restricted SL has enabled me to get the best market opportunities available at the time, while my selected spread has wonderfully worked with my other custom settings.
I know how exciting it could be for a one-year experienced trader to achieve something big with the custom settings. But here, I would also like to mention that Forex Steam already comes with a default winning strategy. So, if you’re not able to make custom changes, feel free to use the default settings with confidence.
I hope my review has cleared your confusion about automated bots. In the end, I would like to thank team Forex Steam for being so cooperative throughout my trading journey. I am going to experiment with a few more custom combos soon.