I usually avoid EAs Like Forex Hacked, simply because they are based on a Martingale system which opens up bigger trades in the same direction in the hope that the price will retrace providing enough profit to cover the losing trades and make a small gain overall. Why? Simply, because if the price trends sharply against the direction of the trades your account can go into very large drawdowns and even risk getting a margin call destroying your bank.
However, Forex Hacked has had some good reviews and seems like a Martingale hybrid system that may actually work in the long run, if you take out the profit you make along the way.
There have been a few releases of Forex Hacked, each providing different recommended settings and currency pairs. Here’s a quick overview to give you an idea:
Forex Hacked Version 1 Settings & Pair
Take Profit: 45pips
Stop Loss: Trailing
Recommended Pair: GBPUSD
Max Open Trades: 8
Chart: H1
Forex Hacked Version 2.2a Settings & Pair (latest version)
Take Profit: 132pips
Stop Loss: Trailing
Recommended Pair: USDJPY
Max Open Trades: 12
Chart: M30 preferred (or H1)
Due to the differing recommended settings and pairs provided by the Forex Hacked team I have run back tests on all combinations to determine what settings and pairs I should use in a Live Test. Take a look below…
Test 1: Independent Strategy Testing
2009 GBPUSD Strategy Test (using Version 1 Settings and H1 Chart) results showed trading bank destroyed after 5 months using 0.01 Lots and 1:100 leverage.
View full 2009-2010 GBPUSD Forex Hacked Version 1 Settings Strategy Tester results
2009 USDJPY Strategy Test (using Version 1 Settings and H1 Chart) results show a loss from $10,000 to $9779 using 0.01 Lots and 1:100 leverage.
View Full 2009 USDJPY Forex Hacked Version 1 Settings Strategy Tester results
2009 GBPUSD Strategy Test (using Version 2.2a Settings and H1 Chart) results show growth from $10,000 to $12,369 using 0.01 Lots and 1:100 leverage.
View Full 2009 GBPUSD Forex Hacked Version 2.2a H1 Strategy Tester results
2009 USDJPY Strategy Test (using Version 2.2a Settings and H1 Chart) results show growth from $10,000 to $10,859 using 0.01 Lots and 1:100 leverage.
View Full 2009 USDJPY Forex Hacked Version 2.2a H1 Strategy Tester results
2009 GBPUSD Strategy Test (using Version 2.2a Settings and M30 Chart) results show growth from $10,000 to $12,455 using 0.01 Lots and 1:100 leverage.
View Full 2009 GBPUSD Forex Hacked Version 2.2a M30 Strategy Tester results
2009 USDJPY Strategy Test (using Version 2.2a Settings and M30 Chart) results show growth from $10,000 to $10,705 using 0.01 Lots and 1:100 leverage.
View Full 2009 USDJYP Forex Hacked Version 2.2a M30 Strategy Tester results
I ran further back tests to the ones above all the way back until 2000 and found that Forex Hacked destroyed by $10,000 bank after 4 years in 2004 and again in 2008 (after starting with a new $10,000 bank from 2004). This was using the Version 2.2a settings on GBPUSD M30 Chart. Therefore I have decided to run the Live Test below using only the Version 2.2a settings on GBPUSD M30 Chart.
Currently running Forex Hacked on Alpari UK, testing started on 7th June 2010. Current results are as follows:
View our Forex Hacked Live Test Statement
Demo Account disabled by Alpari on 19th October 2010. The above chart has stopped working now, so please refer to the chart below:
View our Forex Hacked Live Test Statement
Lab Result:
10 positive user reviews 
2 negative user reviews.
I really like this one. All you have to do is set the smallest lot size at first for risk tolerance and withdrawn profits weekly
Happy Trading
I have been using fx hacked for 2 weeks now on Gbp/Us and Us/Yen on the scalping and medium risk settings and all it seems to do is dig a hole that it cant dig itself out of…yes it does trade requently but at this stage it certainly isnt making any profit.
Did you use the Mass Hedging Feature in your tests?, if so , which ones?
Hi Rchrd,
Not in the tests above, but I did try it out and it didn’t work well at all… Most accounts were destroyed within no time. Hope this helps.
The builder of FXhacked requires 300/1 leverage and 1 hr? time frame to guarantee its performance – you cannot truly test it any other way – like you used 100/1 in your tests – Why? perhaps it is like going up a hill in a truck in to high a gear – it cannot accelerate and kills the engine. – FXhacked likley needs high leverage to build the account to avoid a margin call like your tests experienced – try again, be happy! PS. you asked me.
I’ll double check and do a test again on a 500/1 demo account… I may have been mistaken stating 100/1. We’ll see.
they got forex hacked 2.3a if u got to update.
they got a special trend settings and a stop loss option that doesn’t lose too much money and stops the trades with a few good pips
Thanks. I’ll download and run some backtests to see if it’s worthwhile running on the site.
Hi all. I´ve started a demo account, 10.000$, 200:1, TP:35, Booster: 1.65, Pipstarter: 21, MaxBuys/Sells: 10, GBP/USD and USD/JPY only.
In 24h, I´m up 5.78%, max DD: -6.5%, now floating P/L: -30$.
Really good but let´s wait….
Hi Guys,
I am running Forex Hacked 2.3 on a micro live Alpari UK account. Leverage: 1:500
My settings are:
Lots: 0.01
Take Profit: 35.0
Booster: 1.7
PipStarter: 21
Max Buy Orders: 12
Max Sell Ordes: 12
AllowiStopLoss: false
iStopLoss: 300
Start Hour: 0
Start Minute: 0
Stop hour: 23
Stop minute: 55
Starting trade day: 0
Ending trade day: 7
Slippage: 3
Allow trending: true
Trend Trigger: 3
Trend pips: 5
Trendstoploss: 5
StopLossPct: 50
Take Profit pct: 100
Pause new trades: false
StoppedoutPause: 600
Support ECN: false
Mass hedge: false
Mass hedge booster: 1.01
Trades Deep: 5
The system works well for few days, but sometimes it opens so many trades and drawn down goes very high.
Can you recommend any changes at all?
Cheers,
Rod
Less leverage, try 1/300 – fewer pair or different pair, you do not tell what pair you are using – larger account to cover drawdown may help.
hello rchrd,
I am trading on eur/usd, Gbp/Usd and Usd/jpy.
I started my acc with £500
Reducing Max buy – Max sell to 10 may be a good precaution in a trend – possibley lower.
I’m considering ordering this hacked and demo testing it along side another robot I’m trying. I am a newbie and am wondering if this robot will be too much for me to handle. It appears that it has the potential to make profits, but you need to be very careful with your settings. I would be starting with a $2000 account. What leverage would I use and other settings in order to avoid margin calls? Thanks in advance for your help.
Hacked has potential if adjusted to the market – it has lost many accounts due to overtrading, to many pairs, to volatile,to much leverage, caught in a trend ect. The good is that it can be adjusted to large gain. – new improvments create new advantages – keep the settings minimal untill you know them all, or you will be in trouble – use a demo account
Hacked has potential – the old and new settings allow many possibilities – keep risk low untill you completley understand it. It will shoot you in the foot if you let it – is that better?
Thanks rchrd for those comments. I made the purchase of Hacked 2.3 and have begun demo testing 2 different settings, both on $2000 demo accounts.
1st one is trading with 1:200 leverage, 0.1 lots min, usd/jpy, eur/usd, gbp/usd, aud/usd, usd/chf. All settings are default. These are all the pairs that Hacked will trade with. We’ll see how that one goes.
The other demo is running 1:500 leverage, 0.1 lot min, only gbp/usd. All settings are default. This pair is the one the manual recommends trading with for less risk.
I am anxious to see how the new 2.3 version performs – every small development can have a large impact – the 1/500 leverage looks risky, but with only one pair and the anti loss features it may stay within risk limits.
I finally come to my conclusion; Forex Hacked 2.3 should be avoided.
The results you will get from a demo account you can not compare with a live account.
Forex hacked 2.3 is about to blow up my live account for the second time. I’m happy to share Forex Hacked 2.3 ‘excellent’ performance with you guys.
http://demo23.mt4stats.com/
It would be nice to have a decent and reliable forum from FH’s website with testimonials that we could trust and share among others FH’s users.
By the way…did you notice you can not post any testimonials on FH’s website? (I wonder why…)
Not to mention the fact that the 30 days money back guarantee promise does not work.
Very disappointed!
Stay away from Forex Hacked 2.3
Regards,
Rod
May i know which broker do you guys use? I was recommended FX Open and instaforex.
Currently doing demo testing too!
Rod: sorry to hear that. After 2 days of testing so far, my demo account that is set up to trade all pairs Hacked is designed to trade with is down. But the other demo account I’m running, with gbp/usd only, is up by $70. Based on what I’m seeing so far, Hacked 2.3 may only be good for trading 1 pair at a time, with high leverage, then as some other users have suggested, withdrawing profits every week and starting the robot over. We’ll see…
Way too much drawdown running all the pairs.
Hi Joseph
Running micro account at Alpari UK
Thanks Rod,
I’m currently running it on FX Open and InstaForex demo accounts, with GBP/USD and USD/JPY on H1 timeframe, $5000 and 1:100.
Joseph,
Good luck with that.
It would be good to hear from you once you are running a live account.
Cheers,
Rod
All,
ForexHacked does work. This in not a robot that you take alot of risk with. The account size and ledverage is very important. Expect smaller gains as you place on more currency pairs. Try the US/JPY trading no more than 6 buy/6 sell in the config at 0.01 mini acount, $1000 account, 1:50. With this setting you can expect gains of about $25.00 per week, 5-10% gain per month.
Hi Craig,
I’m curious to see if you continue to trade with this ea.
Thanks for sharing your experience on this one.
Bruno
I used forex hacked 2.2 on my account and i find it difficult to open same account on a different computer. I mean when ever i intend to open on a different computer the complain is ”invalid account”, can anybody help?
Is “invalid account” showing in the bottom right corner of your MT4 application or in the chart?
Hi…Can somebody share its best setting for FH2.3..I am reading above some one is happy and some have bad experience…Is there any forum for FH so we can discuss and share our ideas and problem about this EA..thks
Yes! The invalid account is at d right bottom side of my mt4 application, but i’ve consulted my broker and they have revalidated the account for me. The fault is not from my forexhacked. Good Job!
I have $500 live account with instaforex , gbusd. Can anybody tell me what settings should i use for my forexhacked 2.3 to reduce all possible risk
Has anyone come across the problem of the EA starting to open up double trades? I know it can open up a lot of trades very quickly, but I mean the EXACT same trade (opened at the exactly same moment in time). So, I will end up with two trades opened for 0.01 lot, then two trades for 0.02, two for 0.03, etc, etc.
But it gets stranger. I thought maybe creating a brand new install of MT4 might solve this quirk. I found that after switching off Expert Advisors by clicking on the button on the top menu, FXHacked still kept on opening trades.
I then closed the chart that had this EA attached to it – as another step to “switching it off”. You won’t believe this, but it kept on opening brand new trades!
I then closed this instance of MT4 and installed a new copy. When I eventually got to logging back in to my account, I found that EVEN MORE new trades had been opened by FXHacked!! How can that be? It is not running anywhere? I know this does not make any sense at all and believe me it is driving me crazy.
Any ideas much appreciated.
there is always risk with this EA, you should open on micro account with 1000., I have been testing for a month with good results using GBP/USD using .01 lots, take profit 43 booster 1.6 pip starter 28, I like to keep the max trades 8
Hi Cruz,
How is the robot performing so far with your suggested settings on GBP/USD?
Bombed two live accounts in spite of careful monitoring and settings recommended here. BE-WARE! Never again a Martingale system for me.
Armin; What broker was it with? – Now i will tell you my experience with FX Hacked.- I was planning to instsll and trade it when misteriously my account was traded to the margin twice without my even opening the Mt4 platform – once may be a coincendence, but twice in one month is proof that Hacked is a winner! Iam trying to save enough money to install it and trade it myself. – You read this at Cam’s Blog!
I have been using Hacked 2.3 for a month and it works great. I only trade the GBPUSD. I have 1 to 500 leverage. I trade half or less of the recommended lot size for account balance. If you have a 10,000.00 account for example you should never trade above 0.05 lots as your base setting. Even better trade a quarter of the recommendation and only trade 0.025. I trade take profit at 45 pips, 31 Pipstarter, 1.68 Booster, 10 maxs Buy, 1- Max sells. Everything else no change. I don’t think you will blow your account with these kind of settings. The 1 to 500 leverage will just give you more room with your capital. I would not trade Hacked with anything less.
which broker does this EA work best with? and what settings are best for low risk?
you can’t use backtest with this EA
the reason is because it hedge,
hedging doesn’t just mean it go reverse on the same pair
its a different pair and thats why it don’t work,
Metatrader can only backtest strategies with one pair.
cam . i rquest u forex hacked publishid in zulu trade . pleaz thanks
Hi Farooq,
Because Hacked is based on a martingale system, it won’t work in Zulutrade. Sorry.
I have been investigating this robot and I think it’s a fraud, it seems to be identical to the Blessing EA which is a good EA but suffers from the same large drawdowns, however it’s free of charge
don’t waiste money on this EA when you can download it for free, all you need to do is Google for blessing EA
a correction of my former post when I claimed this EA can’t be backtested in MT4, I was wrong, you can backtest it, but it only use the same pair for a hedge which isn’t a real hedge, you will not be getting any interest on the trades which add to the drawdowns, if you use corealated hedge in a demo acount it should perform alot better and I think the drawdowns will be smaller, again, this is a free EA called blessing, it is free to download and use so don’t pay for it, the Forex Hacked guys are frauds
Hi all
I thought I’d share my experiences and opinion about Forex Hacked (FH)…
I have tested FH on 15 or more demo accounts and have used it on 5 of my live accounts since February 2011. I have also back tested endlessly in search of the ‘perfect settings’ and have then run them on 12 major pairs on various demo accounts to see how they performed.
Without going into too much detail, I have run the standard settings as well as the 4 bonus settings, which are downloaded with the EA, and also my own various settings whereby I have tried all sorts trying to reduce the drawdown and make it consistently profitable, however, it’s mostly down to luck when using this EA…
I have found out the hard way… some settings worked great on the demo accounts for a few months, so I decided to use them on live accounts thinking that ‘I’ve made it!’. Needless to say ALL my demo and LIVE accounts where wiped out sooner or later. I have used FH on live micro and standard accounts with little success. While it has the potential to quickly grow your account, all it takes is one ‘black swan’ and your whole account is wiped out… and that is why I say it is mostly down to luck when using this EA… believe me, it’s not if a black swan comes by, it’s when! I have seen a few of my demo accounts and one or two live accounts wiped out in literally less than an hour when things go wrong.
I kept trying to convince myself that I would find the ‘perfect pair’ and settings to use with this EA which would prevent any wipe outs so to speak. As above-mentioned, I have tested it on 12 major pairs since Feb 2011 and just when you think you have found the right combination, it slaps you in the face and blows your account.
I have read that some people use FH to ‘double’ their account and then withdraw their profits and start again. Well you do the math there… you have to be extremely ‘lucky’ to be consistently profitable… it really is just a matter of time before a wipe out occurs and then all you will be doing is funding your account with past profits in the hope that you manage to double your account before another wipe out occurs and so on!
My point – This EA is extremely high risk no matter what settings you use, this is because it is based on the martingale principle. It is amazing to see just how fast it can turn against you and wipe out an account before your eyes.
It’s a bitter pill to swallow realising how ignorant I have been about the extremely high risk involved with using FH. I have lost more than I would like to admit using FH and also by trying to copy it’s ‘strategy’ on my spread betting accounts with dire consequences.
My advice is to stay away from this EA… it can, and does, go wrong SO quickly… it is literally a ticking time bomb and you will often find yourself sitting in front of your pc, nearing a margin call, hoping that it will turn in your favour… the stress alone is just not worth it!
Andy
wow, interesting, i was going to purchase….do you recommend any EA’s ? I will be starting with a ridiculously small account, (not by choice!)
hi all,
I use this EA for 2 years with success,
you need to do not open more than 6 positions at a time. 1.7 as COef MAX, this meax if you use lot of 0.01 or 0.1, you have only a FULL lot of Micro lot at a time, ot manage your risk.
I have made +85% on GBPUSD on 2011.
Also i have made my own EA based on this maringale, but other entry settings MACD / RSI & Gravity center on H4 basis, to get large move > 100 pips. all work perfect.
Use this ea with 10 pos or more IS CREAZY
Best Pair is GBPUSD M30, settings:
Account 10K€
Lots 0.03
Take profit 100
Booster 1.7
Pip Starter 75
MaxBUY/SELL 6
Enjoy
Hi hall
after studying this EA based on a martingale system
I wanted to respect the idea of always be near the Current price
FH need margin to be sure that he could close all order
Best Pair is GBPUSD M30
Settings:
Account 5 000 usd
Lots 0.5
Take profit 100
Booster 1.02
Pip Starter 5
MaxBUY/SELL 100
so please, if you have a good and clear database for GBPUSD 30 MM
try to make backtest
to confirm my setting
let me know yours results
i hope Cam forex try it in his lab
enjoy
Pascal
Hi All Please explain me any one
Forex Hacked 2.2 is now working in instaforex why?