IRIS FX review

I have been using this EA for around 3 months and theres two things they got going for it, firstly it is at worse a break even robot. You have to take quite a few swings on the robot but it tends to at worst get you to break even and slowly but surely into profit.
Secondly it does around 80 trades + a month. So going back to the cash back article this pays well in terms of cash back. You get two live licences with IRIS FX, I'm currently using hotforex and Fx Primus, the EA developers suggest Alpari which also is a very good broker. With Hotforex through Cashbackforex you get 0.4 pip rebate, Fx Primus you get 0.5 pips and Alpari UK you get 0.25 pips.
The Ea is retailing for 149 dollars which is pretty normal for an EA.

The strategy is more a breakout one where the bot is looking to buy or sell at previous support and resistance levels.


You can track the performance of Iris FX HERE

You can see the EA is showing a profit over the past 3 months, but what is more is the rebates I have earned so far, and this is trading 0.1 lots.

In total I have got almost 500 dollars in rebates which has covered the deposit, which is the beauty of this bot.

You can purchase IRIS FX HERE

To view PERFORMANCE click here



Some cashback Services listed below:

CashBackForex
CashBackForex USA
Pip Rebate
FX Rebate Gurus

Purchase this EA from the links here, or sign up to CashBackForex and I will send you a free copy of either Forex Megadroid, Primeval EA v2.1 or Forex Outbreak
Send an Email here if you have done so.

Cash Back Services

Making money with Expert advisors is difficult but one thing that does vastly improve the performance is by using a cash back service. Now there are many out there and basically they provide you rebates with every trade you place. So if you have an EA that places 5 trades a day at 1 lot each thats 5 lots a day, and multiply this by 20 which is the average trading days in the month you have 100 lots. Now depending on the broker Cashback varies from 0.1 to 1.5 pips per trade so if we assume we have a broker which offers 0.5 pips rebate that would mean 5 dollars for every lot. So 100 lots * 5 dollars would be 500 dollars!
Bearing this in mind I'm tryin to find EAs that can at least break even, which means testing it small over a period of time, and In essence get earning through rebates. If the EA makes a profit as well then thats just a bonus the way I see it. But if its losing money then of course we would not use it.
Below are a list of some cash back providers:

CashBackForex
CashBackForex USA
Pip Rebate
FX Rebate Gurus

These are personal ones I use, and all have good record of paying your rebates in time, and have very good support.

Purpose of this Blog

I have tried many Expert advisor's, most don't work, and bleed money. So I will extensively test EA's till I can find one that works. Realistically you cant be looking for the crazy gains they sell you but if you can get one that makes a return, and with a combination of cash back on your trades, you can be profitable.
Watch this space!