Forexrecoverybot Reviews 

I recently purchased Forex Recovery Bot to test its drawdown protection capabilities for my EA, and so far, it looks very promising. The bot effectively locked my losing positions and manages recovery trades. More testing is needed to fully assess its long-term effectiveness, but initial results are impressive. Worth considering for traders looking to improve drawdown management.

Very good support and the EA is very useful but you need to be careful with settings. Test it carefully on demo account.

This is a really powerfull tool, when used correctly.

It has plenty of options to personnalise what you need.

It is better to create your own setfile with the manual settings, because the original ones are really too aggressive.

It is a true swiss army knife, and the custommer support is so helpfull, they always answer on their website or through e-mail.

It's a 5*
A real game changer for your MT4 strategy

The best MT4/MT5 recovery bot that I’ve tried on the market if you know how to use it properly. Just read the documentation and you will be good to go

I ordered Forex Recovery Bot after watching a YouTuber who also uses it. I was a little skeptical at first but the bot recovered my first live trade today so I have to give them a good review now! Well worth the price paid

Version 2.3 was a game changer. Must better performance with the bot. No more bugs. Please keep the bot updated

This bot has helped me stay in prop firm challenges. Instead of closing a trade as a loss I simply enable the bot and let it do it’s magic.

I am shocked, but the bot actually works. After using a bad EA I was left with a high drawdown on my account. Instead of letting the account blow I decided I would give forex recovery bot a try. The bot recovered all of the losing orders made by the EA in about 3 trading weeks - I had to use the lowest risk setting because my dd was so high. But hey I’m glad it worked even if it took a little bit of time

I ordered the bot but had trouble setting it up on my MT4. I contacted support via the live chat and they were able to assist me get up and running. Looking forward to testing the bot more

I have used the bot since the beginning of this year. Version 2.3 has made a big difference. All of the bugs has been fixed and new features added. Additionally their support and communication has been better. Credit where credit is due

Overall I have a good experience with the bot. There are many settings so it took some time to learn which each setting does.. But after using the articles on the website it’s easy to figure out. I am testing the bot on a demo account as per their advise but it has already recovered a few trades for me. I will use it on my live account soon

I have used Forex Recovery Bot for 2 weeks and so far so good. I was able to recover a 32% drawdown on gold with the bot.

It managed to blow my 3k account while trying to recovery a 100 eur DD on the GBCAD pair.
It opened random positions making the loss even greater. Stay away from this EA

This EA is unreliable and not suitable for recovering losses, there is a strong possibility of blowing up your account.

Impossible to use it.
Very complicated setup
Wrote 3 times to assistance, no reply at all.
Completely useless.
Stay away from these EA and seller.

This Bot; these people are ripoff artists! Beware! Do not purchase this EA! They will "communicate" initially; at least they did with me, and then it will slowly decrease to no answers; no communication whatsoever! This Bot will blow your account; count on it! Ripoff scum!

My initial review can be found below. Here is my updated review after giving the EA another chance.

13FEB2025

I gave this expert another chance because my AW Recovery EA was not working and was not waiting for trend confirmation before placing trades despite being setup to wait for confirmation.

Well done, Forex Recovery Bot successfully recovered one of my accounts in some deepish drawdown. It was a bumpy and scary ride but we got it done.

The EA did break the hedge for some reason during recovery which is risky business and ended up increasing the drawdown a bit more, it wasn't what I would consider normal (I waited a bit for it to add the hedge back but it never did and price was moving against me) I ended up adding the EA to the chart again with different magic so it could remake the hedge and didn't have that issue again.

I went to sleep last night expecting to wake up to a blown account, but I was surprised to wake up to the account being in less drawdown and good profit made.

The bot will close some orders for a loss in the beginning but trust the process and it will come back around to try to get that profit back.

While my account is not fully recovered yet I do expect it to be recovered very soon. This is one of the fastest recovering forex expert advisors I've seen in action.

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I've tried this bot on many different accounts with many different settings and it still ends up with the same result every time, account balance $0.00

I first reached out to support just for some basic questions and after no response I should have known this was an abandoned project.

Their telegram says version 2.3 is on its way in 1-2 weeks but that was at the end of February it is now the end of May.

Maybe this tool will be better with the update. Definitely need to demo it before you throw this on live. It will open trades against the trend and then you turn your drawdown into a complete loss.

Could be the best recovery tool on the market at the moment, but the current version 2.2 has some bugs. Certainly not a plug and play tool, you have to test the tool first. If the existing bugs are fixed with version 2.3 the product is definitely a strong buy. Unfortunately, there is currently no response to email support requests. Hopefully the seller will return soon.

Hi people.
I have to say that I didn't have bad experience with this product. It worked hard to recover almost all of my DDs. Mostly accounts of $1000-$1500. Slowly but surely it got 90% of the job done.
Few days ago I had a big DD with GOLD and GBPUSD at the same account. I tried many setups with no success. The DD is still big, I added some more funds and I started sending messages to the support department. Four days in a row with no response from their side. For me, a good support is more useful than the BOT itself. I'm very diappointed. You people have to consider about it.
They don't even respond here. People are defaming their product and they don't bother.

Have been testing the EA, have reached out to the developers multiple time and no response... they just take your money and will never respond to anything afterwards... ripeoff... stay away

Update: I have tried the new version of the forexrecoverybot and it seems that the coding issues may have been fixed but as for recovering losses, it is pure luck if it manages to do that for you. I was in a EURUSD trade and applied the bot to recover a 10% drawdown. The bot turned my 10% drawdown into 35% drawdown. I selected the option for the bot to place both buy and sell trades and to use the trend filter but in an obvious down trend it did not place any sell trades to profit from the trend. At its core it is just another martingale trading system which is the trading system that gets traders into trouble in the first place. I cannot recommend especially for the price.

This EA is unreliable and not suitable for recovering losses. I purchased the Forex Recovery Bot on 7 March 2024. I began testing it on small drawdowns between 3-6%. It worked for a while and then it didn't. Not worth the money, definitely not safe to recover losses, strong possibility of blowing up your account.