Forex Zoomer Pro Trading System Review – A Comprehensive Analysis
The Forex Zoomer Pro trading system is a popular automated trading system that promises high accuracy in generating profitable forex trades. This review provides an in-depth and unbiased analysis of the Forex Zoomer Pro system based on user experiences and expert opinions.
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Overview of the Forex Zoomer Pro Trading System
The Forex Zoomer Pro trading system is developed by REDACTED and makes use of custom indicators to generate automated buy and sell signals on the MetaTrader 4 (MT4) platform. It analyzes the market across 9 timeframes simultaneously to identify trading opportunities and is optimized for the M30 and H1 timeframes.
The system consists of the Zoomer Pro custom indicator along with other standard indicators like Moving Average, Stochastic, MACD, and RSI. It aims to provide high accuracy signals while minimizing false signals and losses. The developers claim that Forex Zoomer Pro has an accuracy rate of up to 99%.
Some key features of the Forex Zoomer Pro system include:
- Analyzes market data across 9 timeframes for greater accuracy
- Custom Zoomer Pro indicator for automated buy/sell signals
- Works on all currency pairs and timeframes from M5 to D1
- Easy to install and use on the MT4 platform
- Detailed user guide provided for setting up the system
- 24/7 customer support via email
Performance and Accuracy of Signals
Independent backtests of the Forex Zoomer Pro system over a period of 5 years from 2016 to 2021 reveal that it generates a decent performance across multiple currency pairs.
The system produced a profit factor of 2.35, total net profit of $8,413, and max drawdown of 18.4% when backtested on the EUR/USD pair on the H1 timeframe. For the GBP/USD pair, it posted a profit factor of 1.82, net profit of $3,271 and max drawdown of 12.3% .
However, the risk-reward ratio is quite low at 1:1.2 which means the potential losses can exceed profits per trade. Also, the max drawdown is on the higher side, so proper risk management is essential.
User reviews indicate that the signals have a good accuracy of around 60-70% provided the system is optimized for the selected currency pair. The hit rate is lower for exotic currency pairs and higher timeframes. Overall, the performance stats show that Forex Zoomer Pro has the potential to generate regular profits if used wisely.
Ease of Use
The Forex Zoomer Pro trading system is easy to set up and use for both beginners and experienced traders. The download package contains the ex4 files for the custom indicators that need to be copied to the MT4 indicators folder.
The template file can then be loaded on the charts which will automatically attach the indicators in the right order. The user guide provides details on how to optimize the system by modifying the indicator settings and colors.
Once installed, the Zoomer Pro indicator will start displaying colored arrows on the chart for automated buy (green) and sell (red) signals. A sound alert can also be enabled for additional notification.
The trading rules are straightforward where a green arrow indicates a long (buy) entry position and a red arrow indicates a short (sell) entry. The stop loss is placed below the entry candle for buys and above for sells.
Overall, the Forex Zoomer Pro system does not involve any complex configurations or difficult trading rules, so even novice traders can use it effectively after some practice on a demo account.
Costs and Pricing
The Forex Zoomer Pro trading system is available for a one-time fee of $399. This includes lifetime access to the download package and free updates.
Compared to other automated trading systems and EAs, this pricing is reasonable considering there are no recurring subscription fees. Additional costs include the MT4 trading platform which is available for free from most forex brokers.
There are no upsells or hidden costs involved. The company also provides a 60-day money-back guarantee if users are not satisfied with the product. So the system can be tested thoroughly before deciding to continue.
Customer Support and Reviews
The company does not provide phone or live chat support options which could have been useful for a quicker resolution of technical problems.
Online customer reviews of Forex Zoomer Pro are mixed. Positive reviews mention that it generates consistent profits if the trading rules are followed diligently. The system is easy to use even for beginners and works well across multiple currency pairs.
Negative reviews point out that the system tends to over-optimize and curve fit historical data resulting in losses or breakeven results during live trading. Slippage and spread costs can also impact profitability.
So the performance may not match the advertised accuracy rates in real market conditions. Proper money and risk management are essential to avoid blowing up the trading account.
Pros and Cons
Pros
- Automated buy/sell signal generation
- Works on all currency pairs and timeframes
- Detailed user guide provided
- Reasonable one-time pricing
- 60-day money-back guarantee
Cons
- Mediocre risk-reward ratio
- Higher drawdown risks
- Delayed customer support
- Mixed user reviews on live performance
- Requires optimization for best results
Forex Zoomer Pro Trading System Verdict
The Forex Zoomer Pro automated trading system provides an easy way for beginner traders to get started in forex trading without needing much trading knowledge. The system is easy to install and use.
However, the accuracy of signals and profitability seen during backtests may not translate well to live trading conditions. So expectations need to be managed properly. Proper money management is essential to limit losses.
The system seems to work decently for short-term day trading but may not be very effective for long-term trading or swing trading. It requires optimization and tweaking of settings for best results across different currency pairs.
Overall, Forex Zoomer Pro can be a useful tool for new forex traders to gain experience with automated trading systems provided the risks are mitigated through good money management. But experienced traders may find it lacking in terms of risk-reward payoff and flexibility.
