Best FX Tools Review: Is bestfxtools.com Selling Scam EAs? - Topedgefx.com

Best FX Tools Review: Is bestfxtools.com Selling Scam EAs?

Welcome to the Best FX Tools review. Bestfxtools.com registered this domain back in April 2015. However, their sales page suggests that the vendor is offering the “best Forex robots and indicators” in 2020.

The word “best” is used quite often in the sales material and we’re wondering whether this developer actually tested and verified their results to conclude that they’re truly offering the best Forex robots and indicators in 2020.

Best FX Tools claims that their trading tools are designed by traders and a “tycoon in the market” who created the trading software based on the innovative MQL language.

They believe that MQL is the only computer language that makes Forex transactions easily because it supports modern data analysis while presenting information in an interesting way.

The vendor feels that if we give them a chance, we’ll receive the best FX tools, Forex robots and indicators which allows us to make any investment in Forex trading.

Best FX Tools review

Despite Best FX Tools launching their business back in 2015 and developing trading tools over the last 4 years, we still can’t find any reviews of their business anywhere on the internet.

Probably it’s something that has to do with poor marketing strategy because even the site’s Alexa ranking shows that they’re only receiving a handful of visitors every day.

By the way, we love to use trading tools that are considered popular and effective by most traders. If you’re looking for proper Forex trading tools that give you a professional edge, your best bet is to rely on our most recommended trading tools here. 

Best FX Tools review

This is yet another Forex robot developer who does not wish to disclose their location or names of people in charge. Their web server suggests that they’re from Poland.

We feel that transparency is important in any vendor’s sales page and Best FX tools should definitely add these details in order to solidify their trust in the community.

For traders who would like to contact them, an email address has been provided and communication can be done between Monday to Friday 10.00-22.00.

The developer believes that they’ve created “professional-grade” trading tools that increase profits.

They also offer some free trading tools for trader who are not prepared to purchase a license of their premium products yet.

This is a good starting point because not every trader would be willing to buy a license right away. On the other hand, we find some traders not prepared to go through the testing phase due to lack of time.

They would rather invest in a premium software right away after they analyze the software’s myfxbook.com statistics.

Best FX Tools still believes that with innovation, passion and professional programming, they’ve been able to set their service apart from the competition.

They claim to have a proper understanding of data sets and they also believe that when combined with professional support, they will be able to give solutions for monitoring Forex.

Best FX Tools review: trading strategy

Best FX Tools has so far created 8 Forex robots and 8 indicators which makes the total number 16.

Due to the number of products they have, it becomes quite difficult analyzing every strategy in detail and singling out the best product with the best strategy.

The vendor has provided short product descriptions with no real insights of trading methodology or strategy. We believe that for a vendor to excel in this business and actually garner positive reviews, they must provide information about their trading approach even before people can buy licenses.

If Best FX Tools claims to be a professional trading software developer, they should spend time to add this information to their sales page.

We just don’t want to see recommendations of which pairs to trade including a few parameters of the software. Once they add this information, our analysis will cover every aspect of the trading methodology to let you know which is the best Forex trading tool (that is if we ever find any good trading tool).

Summary of Best FX Tools products and pricing

Trading strategy: There are multiple undisclosed trading strategies

Pricing: From $39 to $229 (free trading tools are also available)

Type of product: Forex robots and indicators

Indicators sold by this vendor are priced between $39 to $109. For traders who are interested in Forex EAs, the vendor is willing to sell licenses for $99 and $229 respectively.

We don’t see anything wrong with this pricing model as it is within the norm of the industry.

You basically don’t expect buying a Forex robot for more than $200 unless the developer can convince you with verifiable trading results that the EA is really worth it.

Trading performance

If the vendor has screenshots of their myfxbook.com account, it means they must have a profile on this statement sharing platform.

Yet we have searched for that profile and found none. We are disappointed at this finding because it basically means they don’t have any verifiable trading results to justify their premium trading tools.

This act of using myfxbook.com screenshots portrays vendors in a bad way.

We don’t know whether they actually owned a myfxbook profile at one point or copy pasted those screenshots from another vendor’s website.

If Best FX Tools really intends to compete fairly in the Forex robot and indicators market, they should consider adding real trading results.

Otherwise, they are going to suffer the most unfortunate thing that vendors fear most: slashing down prices.

Serious traders are not going to purchase any licenses if trading results is not available.

Conclusion

User reviews and feedback regarding Best FX Tools is very hard to find. However, we managed to find a review of one client who claimed to have been stolen from and abused by representatives of Best FX Tools.

This Best FX Tools review is very detailed but since there is only one review that we can find, we have opted not to talk about until we can see more reviews of similar claims being published from time to time.

Other than this, the vendor’s website is quite professional except that they are not providing details of things we would like to hear.

Their sales page is devoid of trading strategies and results as well. Best FX Tools should definitely look into these aspects of they want to be taken seriously.

Thanks for reading our Best FX Tools review. We hope you will provide your feedback in the comment section.

2 Comments

  1. Hancı June 19, 2020
  2. hancı June 19, 2020

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