Forex Funnel Trading System Review

Forex Funnel is a relatively new forex trading system to the market, sold primarily as an automated robot rather than a profitable system (although it does claim to be extremely profitable).

It is sold as a "breakthrough" expert advisor script which boasts backtests that have netted 6 figures of profit over 2 years. And although the website does ooze cheese, it is still a relatievly popular robot for both beginner and advanced traders.

With many people raving about this system, we ask is it really going to help us earn $100,000's or are those backtests just too good to be true?

Forex Funnel At a Glance

Forex Funnel is a MetaTrader4 (MT4) Expert Advisor (EA). If you read their web site you will see bold claims. They then present a back test result over a four year period where you could theoretically have made over $462,000 from $50,000. They achieved this result with a mere 15% maximal draw down and what is more interesting is they present a back test equity curve which is so smooth it is almost at straight line.

They have obviously spent a lot on getting the EA to look appealing to the less-experienced traders who it looks to be aimed at most, with promises of it being able to "make money in under 5 minutes" and that there is "no human interaction required". Although these may be appealing, you must be careful with bold claims... especially in this market!

With such a complete package ready for newbie and experienced traders alike, the question that everyone is asking is "Is Forex Funnel Real Or A Scam?".

Obviously the bold claims and lack of informative content on the site itself might be leading you to think it's a scam... but you might just be pleasantly surprised...

Forex Funnel is a system which employs a "margintale" strategy to consistently generate winning trades regardless of the market conditions or currency pair.

The basic concept of the Martingale strategy is to double up after a losing trade and continue doing this until eventually a winning trade is found, which will cover the losses of all previous losing trades. This type of strategy is often seen as "risky" by seasoned traders because if it fails, it could lead to big losses.

Having said that, there are plenty of reviews which put Forex Funnel up at the forex totem pole of forex trading systems (along with FAP Turbo and Forex Autopilot), with several results of +500 pips per week from the system.

Chris from FxTradingReviews.com claimed in his review that he had put Forex Funnel to work on his demo account and within the first week, it had made $407 with 250 trades and starting capital of $5k.

Likewise with our UBOS meter research - many people seemed to be very pleased with the ease and simplicity of the system but many were "anxious" to put it on their live account simply because it didn't trade the way they liked.

Hundreds of customer reviews all point to Forex Funnel being a steadfast and profitable system which takes a certain type of trader to use it. If you don't like how it works, it has a 60 day guarantee which allows you to test it out fully for two months.

The customer support seems to be good, with prompt and personal responses to our queries. With no "one" person being behind the system, you are left feeling slightly empty with the customer service as all of the staff appear to be anonymous. However, they do quickly respond to any question you have, even if it is technical!

Purchasing Forex Funnel will give you the following products available to download in the members area:

The Forex Funnel Robot
The Forex Funnel system itself comes in the form of an Expert Advisor written for the Metatrader Forex trading platform. The system performs anything from 10 to more than 50 trades per day and constantly has at least 2 or 3 open positions in the market. Not much is known about the indicators it uses to enter trades, but the main trading strategy seems to revolve around the Martingale principle, which is also the thing that makes it risky.
The Goldminer Indicator
According to the creators of Forex Funnel, the Goldminer indicator was originally meant to be sold as a unique Forex product on its own, due to it’s accuracy. Goldminer consists of 2 indicators working together to generate trade signals. I spend a few minutes looking at Goldminer and the signals it generated seemed to be quite accurate. The trading signals work as follows: Purple Arrow + Red = Sell, Yellow Arrow + Blue = Buy. See a sample chart here.
Documentation
The package includes a manual for the main Forex Funnel system as well as the Goldminer indicator. The manuals give basic installation and setup instructions, but no further details are given regarding trading strategies.

It seems that although commercial forex systems can all "talk the talk" when it comes to back tests, live trading is a different story altogether.

It's strange because Forex Funnel is one of those systems which works incredibly well but can also make a slip up every so often. This is mainly because of the burden it carries with its margintale strategy at its core.

You can see evidence of this type of trading with one of Chris @ FxTradingReviews trading logs for FF:

It is quite clear that a Martingale strategy is followed here. A short trade of 0.01 is entered at 95.96 and when the trade starts making a loss, another short trade of 0.02 lots it entered. Price continues to rise and every 20-25 pips another short trade of double the previous trade’s lot size is entered. This continues until 10 trades have been opened and the price finally retraces by 20 pips from 97.91 to 97.71. The 20 pip profit with 5.12 lots is enough to cover the losses of the 9 other losing trades and all trades are then closed at this price, resulting in a break even situation.

This strategy has a near 100% success rate, but you need a LOT of capital to cater for long losing streaks, because one losing streak can effectively wipe out your account with a margin call. In this case, if the price continued to rise, Chris' $5000 account would have been wiped out very soon, but luckily for Chris the opposite happened.

It definitely takes a certain type of trader to use Forex Funnel successfully. Although it can eventually make you a lot of money, it's core strategy might lead you on potential losing streaks which you need a LOT of capital to cover.

If you are looking for easy trading and nice profits and don't mind the small chance that you might be risking a fraction of your money, then Forex Funnel will work well for you.

If you are a beginner or a part time trader, then we wouldn't recommend you use this system. It's too risky for 'part-timers' (sorry to call you that) and there are a lot of other options for people who just want to take it easy and scrape some profits from forex. A great example is our top pick system FAP Turbo.

Forex Funnel Trading System Review

Forex Funnel At a Glance

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