Forex Godfather Review
Forex Godfather is a Metatrader Expert Advisor offered by a group called Next Generating FX Trading. According to the sales page, Forex Godfather is a revolutionary forex robot that uses the latest in artificial intelligence technology to consistently make profitable trades with a success rate of up to 97.3%. It also features an example of 10 trades making a profit of $14,010.40 with an 80% success rate, supposedly performed on a live account.
Forex Godfather Claims
Proof of Forex Godfather’s effectiveness is provided in the form of various screenshots demonstrating profitable trades as well as a 5 year back testing report showing how a $10,000 account would have generated a profit of $91,418.20 over this period. The website features various testimonials from satisfied customers, but unfortunately no realtime account statements are provided like some of the other forex robot vendors do. All in all, very little is provided in terms of real proof or the history of the people behind this EA.
How does Forex Godfather work?
The Expert Advisor opens trades based on a moving average indicator as well as a custom volume based indicator. It offers both fixed lot sizes and automatic money management features and each order has a fixed stoploss and takeprofit. The EA trades on the GBPUSD currency pair (on the 1 Hour time frame) and uses a stoploss of 141 pips, with a profit target of 200 pips. The EA will work on ECN brokers and automatically detect if your broker account is 4 or 5 digits.
The Forex Godfather package
For the price of $67 via Clickbank you get:
- The Forex Godfather product is delivered as a standard Metatrader Expert Advisor
- A 21 page PDF installation manual. The installation process is very simple and well documented.
- Guarantee: The product comes with a standard 60 day money back guarantee, so you can safely test it on a demo account and get your money back if it doesn’t perform as advertised.
Upsells of Forex Godfather
An “Elite” version with more features is offered as an upsell.
My Forex Godfather Test Result and Conclusion
I tested the basic Forex Godfather EA for 3 months and could never get it to profit consistently. In my latest test it made a loss of -17% in 41 days. See my testing stats and account statement on the Forex Robot Testing page. Based on my own test results I wouldn’t recommend this product would definitely suggest that you focus on one of the robots on my Top 5 list or subscribe to my weekly robot testing newsletter.
