Forex Spectre Review Introduction

Trading Idea

Forex Spectre is a trend follower EA coded with 3 different strategies but with many similar behavior aspects. Although proved profitable, further descriptive data about those strategies were not revealed by the EA developers and are still vague.

Forex Spectre Criteria


The licence is valid for one live or demo account and includes support and updates. To activate the licence, a hardware key has to be generated with a software tool provided after purchase. Both, the key and the account number have to be communicated to the support team which will in return provide an installation package for each account.

Broker / VPS Recommendation

Compatible with Any Forex Broker, But We Recommend Installing it on TradingFX VPS and Using it on IC Markets, Tickmill, or Alpari Forex Brokers for the Best Stability and Profitability.

User Manual

A 4-pages manual explains the installation and set up of Forex Spectre.


Friendly and Qualitative 24-hours / 7-days.


Free Lifetime Updates.


30 Days Money Back Guarantee Offered by the EA Vendor.

Supported Currency Pairs


MetaTrader Chart Timeframe



According to the backtests run by MyFxBots, the risk reward ratio is about 1:1 which is apparently excellent while the hit ratio reached just 55%. A high trading frequency that could reach 800 trades per year as that of Forex Spectre could guarantee midterm profits but longer sideward movements could happen. Drawdown periods are inevitable on a short-term basis.

Trading Strategy

Each of the three embedded strategies trades autonomously with no interaction with the other two strategies, so that there is a possibility to open a long trade by on strategy while another strategy has opened a short trade at the same time.

If Forex Spectre detected an entry signal and considered it to be highly promising using its advanced algorithm calculates, it automatically opens a trades with a double of the preset lot size.

A money management system is involved in Forex Spectre with the ability to deactivate each of the working trading strategies.

A division of the account balance can be assigned to be the only tradable balance division while the remaining balance can be freely used for manual trading or by other EAs.

Hedging also can be disabled in the EA settings.

Last Updated On Fri, 22 Jun 2018

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Information, charts or examples contained in this review article are for illustration and educational purposes only. It should not be considered as an advice or endorsement to purchase or sell any security or financial instrument. We do not and cannot give any kind of financial advice. No employee or persons associated with us are registered or authorized to give financial advice. We do not trade on anyone's behalf, and we do not recommend any broker. On certain occasions, we have a material link to the product or service mentioned in the article. This may be in the form of compensation or remuneration.