Blog Archive

Fast Forex Millions EA - Expert Advisor in Forward Test

Fast Forex MillionsSome EA vendors take a softly, softly approach when releasing a new Expert Advisor onto the market, and product launches can often be relatively modest and quiet affairs, limited to a solitary email blast to prospective users.

This was most certainly not so in the case of the Fast Forex Millions EA which has been hyped like crazy since I first announced its release in an earlier article. I guess the fact that the developer has been behind some other popular EAs has simply served to heighten expectations.

Anyway, the Fast Forex Millions EA has now been released and I'm pleased to report that the vendor has provided MellyForex with a review copy which I've put into forward test so that readers can monitor its performance.

At this stage, I have to be perfectly honest and say that I still don't know too much about the EA other than that it works on five of the major currency pairs where liquidity shouldn't be an issue, and that it's a non-scalper (the manual suggests that trades can typically last up to 17 hours) which doesn't use Martingale.

So what else can I tell you about the EA?

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An Update Regarding Plimus

Plimus have suspended the accounts of Forex EA sellersMany of you reading this will already be aware that, as of a couple of days ago, Plimus decided to suspend accepting new orders for Forex related products.

Without prior warning, on the 10th January, Forex vendors selling their wares through the Plimus network received an email similar to the one below:

The credit card associations (including Visa and MasterCard) are increasing their scrutiny of merchants selling products within a number of online segments. Affected market segments include, but are not limited to, the following:

- Online auctions
- Foreign Exchange (FOREX)-related products
- Media
- Poker chips and other virtual currency

As you offer products that fit within one or more of these segments, Plimus must now undertake a detailed and exhaustive review of your account, and its compatibility with the Plimus platform. This review will take approximately 30 days; at its conclusion, we hope to be able to advise you that we can continue to provide e-commerce services to your business.

During the period of this review, we must undertake two steps. First, the payout scheduled for the 15th of this month will be suspended for a period not to exceed 30 days, pending our confirmation that all transactions will be honored by the card associations. Second, your account will be suspended as of Thursday, January 12th, which will mean that no further transactions can take place until further notice.

We recognize that this represents a significant business challenge, and apologize for the inconvenience. If you believe your account should not be considered to be within one of the stated market segments, or if you have any questions of concerns, please contact Vendor Support directly."

So, what does all this mean?

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Fast Forex Millions - New EA Coming Soon

Fast Forex MillionsI hope to have a copy of the new Fast Forex Millions Expert Advisor in forward test at MellyForex very soon.

Although the EA hasn't been released yet (official release is an as yet undisclosed date sometime this month), it certainly looks very interesting and suggests great potential.

Fast Forex Millions claims to work on no fewer than five currency symbols, it's a non-scalper and the suggestion is that it will work with any broker. The backtest summaries on the website's homepage suggest a win rate of around 60% and an average winning trade size which is greater than the average losing size. I'll certainly be looking to put it through its paces and reporting back to you with my findings and views.

Watch this space!