Forex Incontrol Reborn 2020 Review Is This a Reliable Forex EA

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Forex Incontrol Reborn 2020 Review: Is This a Reliable Forex EA?

Forex Incontrol Reborn Review: Is this Bot Safe or Scam? forex-incontrol.com reborn is an automated Forex robot that claims to be the best forex trading robot. This bot entered the cyber space in 2020, promising to generate consistent income regardless of the current market conditions. Those behind this platform claim that what makes Forex Incontrol Reborn profitable and reliable is the hard control of draw-down, trading on two different pairs, risks and profits.

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How Does Forex Incontrol Reborn Work?:

Forex In control Reborn is an improved version of Forex Incontrol Robot. The developers claim the system can work easily on many pairs, they have done enough testing to ensure that these pairs of the most profitable. Apart from that, there isn’t much information on their sales page on how this Robot works, or about the time frame. However they provided a myfxbook account to show their trading results.

Robot Details

  • Type: Forex Robot
  • Price: $220 regular version, $270 upgraded version.
  • Strategy: Not disclosed
  • Timeframe: Not disclosed
  • Pairs: AUDUSD, EURGBP

Is Forex Incontrol Reborn a Trustworthy FOREX EA?:

Though this Robot has a lengthy history we can’t vouch for and a live account showing their trading results. There are some loopholes here and there. This vendor is answerable to some questions. First and foremost, the web page lacks substantial information about the strategies the Bot employs. Also, the only client feedback online is a negative one, bitterly complaining of martingale grid unlimited level until you blowout.

Forex InControl Reborn EA Review

Today’s review will be devoted to the Forex inControl Reborn robot. This is the second version of Forex in Control from the devs. Therefore, the approach to the product itself: improving patterns and performing, in general, is respected. This suggests that the developers are not a one-day company that does not care about their reputation.

How Forex InControl Reborn EA Works

What’s up with the Reborn version? The forex robot has got a brand-new trading mode called “Accelerator”. We expect that they explain what it is. The money management system includes control of drawdowns, stop-loss system, risk diversification. The robot is able to perform just two currency pairs like AUD/USD, EUR/GBP.

Applied strategies

The hard DDs control system is the first devs wanna us to spend attention. So, it has a sense. “… EA allows specifying a maximal possible drawdown precisely so that under any circumstances you wouldn’t lose more than expected. In the represented forex EA we applied a technology that automatically sets StopLoss for all orders on such a price, that will not let you lose a dollar more than it is pointed in the settings of the EA,” they said. It’s a good-to-go option. Forex InControl Reborn can work well with different currency pairs, but the devs suggest to us the best ones. They said is kinda diversification of loses. The robot allows us to set different risks and expected drawdowns for every of the currency pairs. It’s a very solid option.

The backtest results look like that.

The robot has backtested on the AUD/USD account. The first deposit has been 10000, and total account balance was 207000. The MaxDrawDown has been set 30. There have been traded 1202 deals. The shorts won rate is 63%, longs won 68%. The profit factor was 2.15

How you can see from the screenshot is the Accelerator mode backtesting.

Forex InControl Reborn trading results

Let’s take a look at the official real account on myfxbook.

Forex inControl Reborn runs the real USD account with $1000, FXOpen as a brokerage company and on the MetaTrader 4 platform.

The robot can provide an incredibly good result for about almost two years of its performing. The daily gain is 0.28%, monthly 9.17%, total drawdowns are almost 40%.

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This year’s gain was little, (-139.42%), but the profit was higher $3148 (+$810).

The robot performed just several trades in a month with a total of 90 trades. There have been 2788 pips. The longs won rate is 79%, shorts one is 76%. The average trade length high enough and equals 7 days. The profit factor is incredible: 4.98. Well done guys!

The annual charts prove to everyone that there are real and well-worked patterns in the robot. There were no months with losing over gaining.

The robot performs just one currency pair: AUD/USD.

The “Summary” looks very positive and inspiring.

Forex inControl Reborn trades whole days if needed.

The robot performs with the lowest risk rate.

Pricing And Refunds

There are two packages of the robot. The first one is the version with “Optimized options” and costs $220. For this money will get one real account. The version with “Acceleration mode” costs $270.

Other notes

We haven’t seen how the robot performs on the EUR/GBP currency pair, it’s the first. There no money-back period was provided.

Forex inControl Reborn EA Review

How Legit Is the Auto Trader?

Forex inControl has come up with what they refer to as a new and improved forex robot, the Forex inControl Reborn. The primary difference between the new and the original automated traders is the newly-designed accelerator mode. According to the trading system’s website, the improved trader is expected to meet and surpass the profitability and reliability level set by its predecessor and is made available to a trader after payment of a lifetime fee of $270.

But how legit is the new automated trading system or its developers? We can only get to answer this after debunking the different claims, promises, and proofs provided by the system developers. Starting with the new system’s mode of operation:

How does Forex inControl Reborn work?

According to the Forex inControl Reborn website, the advanced automated trader is specially designed to ‘maximize reliability and profitability.’ Its developers base this argument as the reasoning behind the capping of the number of currency pairs the system can execute at any given time to two: AUD/USD and EUR/GBP.

Two pairs trade image

The developers also argue that by activating the accelerator mode, clients stand to gain more profit even when using similar settings used with its original version. It also features several other interesting trading tools like the hard drawdown meant to keep the trader’s deposits intact by shielding them from unexpected and unsustainable losses.

The trader’s website further states that the automated system “does not open orders all the time” but “awaits for the best moment to enter the market.”

But how relevant are these claims and assertions and are they verifiable through backtesting or from the trader’s real trading history in Myfxbook?

Backtesting results

On the automated trader’s website is a string of screenshots illustrating the effectiveness of both versions of the automated trader: with and without the accelerator. According to the website, the AUD/USD backtest was conducted over 4 years. The test took into account tick data with a modeling quality of 90%, an initial deposit of $10,000, over 30-min timeframes and a hard-coded stop loss level of 28pips.

The original automated trader is then said to have reported a profit of $24, 437. Its advanced counterpart with an activated accelerator, on the other hand, posted profits in excess of $759,000 over the same period and using the same trade settings.

However, while all this talk of the accelerated trader may sound quite impressive, the system developers are using screenshots and data from own website to promote its efficiency. This makes them unreliable as a basis of making the decision to buy subscribe to the trading system or not.

Myfxbook trading history

In such a case, the Myfxbook trading history account maintained by Forex inControl Reborn becomes the most viable option of evaluating the efficiency and profitability of the system. Here, a $1,000 account created in February 2020 has cumulatively gained 317% with a maximum drawdown of 18%. This translates to an average of 0.36% and 11.25% daily and monthly gain respectively.

While these positive results may be appealing, they don’t measure up to what Forex inControl Reborn has been advertising. Most automated traders operating under the same settings have reported higher earnings and even more appealing monthly percentage win rates. One, therefore, can’t help but question the effectiveness of what the developers consider ‘new and improved’ trading system.

Forex inControl Reborn strengths

Hard stop loss:

Forex inControl Reborn trading system may not have lived to most of our expectations but it sure does protect client deposits. Unlike most automated traders currently available that still employ the martingale style of trading that has little regard for stop-loss levels, this trader has a “hard control of drawdown.” A trader can therefore manually decide on the most tolerable risk (stop loss level) before entering a trade.

Works alongside other EAs:

The algorithmic trader’s website mentions that Forex inControl Reborn doesn’t operate full time. This implies that the EA can be used alongside other automated traders without the risk of compounding an account’s drawdown.

What do you need to know before committing?

Minimal information about the developers

The last thing any investor will do is place the fate of their entire life savings at the feet of a total stranger. Forex inControl Reborn founder’s decision to maintain anonymity, therefore, raises a lot of questions about their self-proclaimed industry experience and expertise as well as the legitimacy of their trading system.

Works on two currency pairs only

According to the trading system’s website, Forex inControl Reborn is well adapted to trade multiple currencies. Its developers have however decided to limit this trades to “two of the best ones.” On one hand, such a move can be hailed as it shows the level of thoughtfulness and testing efforts these developers put into identifying the two trades with the highest potential. On the other hand, however, it may be interpreted as an unnecessary limit to the level of diversification a trader would like to engage in. This beats the profit diversification claim that the auto trader has popularized as the key pillars to the profitability of the system.

30-day refund policy

Forex inControl Reborn has a 30-day refund policy, no questions asked if a trader feels like a system doesn’t perform as well as it should. The also promises to initiate an automatic refund should your account’s drawdown fall below the 40% threshold in the first month of operation while trading on the developer’s recommended settings.

No PAMM accounts

Going through the forex robot website, especially over the accelerator mode and backtesting sessions, you can tell that the system developers are quite sure of themselves. With such confidence in regards to the system eventually beating the market, with incredulous margins, you have to take a step back and wonder why they haven’t introduced the more lucrative PAMM accounts.

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