iQ EA Forex Cloud TradingReviews of iq-ea.com

It is a bidirectional mediation Ea, works 4 days a week, tries to close (but not always possible) before the American session. The term Artificial Intelligence is misleading, sooner or later it burns the account. Direct experience.

After having consistently good results, the owner made changes to the lot sizes the EA placed. While the system initially produced good profits, these changes led to significant drawdowns when the market moved in the wrong direction. The EA would just keep placing multiple buy or sell orders. The owner continually assured us there was nothing wrong, stating the EA had been in this position many times before. However, when the EA places trades in the wrong direction and you end up with 23 trades open, your margin is blown. For example, the USD was weak against the Euro, so buying would have made sense—but the EA kept opening sell positions while the Euro continued to rise, eventually blowing many accounts. The owner never communicated any updates or warnings. He should have implemented hedging or at least taken losses and reversed the trades. Instead, the EA’s actions caused a significant loss of trust and wiped out a lot of money across at least eight accounts that I know of. The total losses exceed $150,000, with my family relying on the weekly income from this investment. Personally, as a customer since February 2024, I lost over $70,000, and the other seven individuals lost their entire initial investments due to the system’s failure. Two years of a system running—and one bad week wiped everything out. In August, my account was closed in negative twice, and then in September, it completely crashed. The owner should have taken action to protect our accounts instead of letting them blow out completely, leaving us unable to trade. With the high fees for the EA, it’s simply not worth it if all your profits—and your initial investment—are lost. I chose this system because it was marketed as low-risk, with no history of accounts closing in negative balances. After researching accounts with long-standing performance and running my own since February, I saw that the system historically opened a maximum of 14 trades in one direction, using hedging strategies and spreading trades between 51 to 250 points. But in September, the system deviated from its pattern, opening over 23 trades with larger lot sizes than the accounts could handle and only spacing them 51 points apart. Then, the owner added a new system called “Sam” at the expense of customers, and that system is what ultimately caused the crashes. Another concern is how he handled major news events—he used to turn the system off during those times because of uncertainty. But when the Fed rate cut was coming up this week, he left the system running, and the market surged 1600 to 1900 points from the first trade. The few remaining customers who managed to hold on are now out. I paid for lifetime access to his systems, but after my accounts were blown, I stopped receiving emails and updates from him. Honestly, no matter how much growth or profit this system claims to make, it’s not worth investing in if one bad week can erase everything from 6 months to 2 years of trading—and then some. Personally, I never earned any real money from the EA system; I only paid the fees to use it. They’ve even changed the website and removed the section where he previously claimed less than a 1% chance of loss. It seems like we were used as disposable test subjects for his “invaluable data.” That should never happen—we are not guinea pigs to be thrown away. Additionally, I found out the first owner sold the product to a Japanese company, and even the email was sold, which is why the system is no longer functioning properly. In my opinion, he could have stopped trading to prevent the accounts from collapsing. Taking a small loss would have been far better than letting the entire account blow up. It would have been more responsible for him to acknowledge the impending system failure and close the trades to preserve future trading opportunities instead of allowing them to crash. Before I allow any further trading, I need substantial evidence that he and his team actually care about their clients and their financial well-being—not just about collecting data. From February to July, the system focused on small gains with minimal risk, and we earned a decent amount. But at the end of July, everything changed—it became “all or nothing,” risking everything for big gains or going broke. That should never happen. Trading should be about steady growth, small gains, and controlled risk—not destroying accounts in one week.

After having consistently good results The author made changes to the lotsize the EA placed. While good results were made it led to lots of drawdown when the market went the wrong way. The ea would just place many buys or sells. The author continually said there was nothing wrong the Ea had been in this position many times. But when the Ea just places trades in the wrong direction and you get to 23 trades your margin is blown. The USD was weak against the Euro so buys would have been the way to go. The EA chose sells and the euro kept going up eventually blowing lots of peoples accounts. No word from author. He should have been hedging or at least taking a loss and reversing the trades. His Ea has lost a lot of trust and lost a lot of money for at least 7 accounts that I know of.

Regretfully I can't recommend the IQ EA system based on my negative overall experience. I had two prop firm accounts with a major provider - both of which failed challenges at different stages. The most devastating was my personal account, which lost over 60,000 GBP. I have reached out to Dennis but unfortunately on each occasion I have been told the system overall is working well. Whilst this may be the case, my personal experience is of the blown accounts and ignored warnings when I tried to flag up concerns early. How can anyone trust putting money in something where these losses have been so great? Or the owner gaslights you into thinking there are no issues with their system? If Dennis feels confident about this he should do the right thing and offer an appropriate solution to my losses. I will update this review based on what happens.