Home Forex Service Review NP Fincone FX EA Review

NP Fincone FX EA Review

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NP Fincone can be found on the MQL5 marketplace and was created by Mikita Borys and uploaded to the marketplace on the 12th of March 2020. The software was uploaded to the marketplace as version 3.0 and has not received any further updates so it is still at version 3.0.

Overview

NP Fincone is an expert advisor that was created by Mikita Borys for the MetaTrader 4 trading platform, the EA is an automated trading system that is used to determine the direction of the trend in order to work out entry points into the markets, the EA is a night scalper so it works predominantly during the night and is based on the same authors’ own indicator.

The EA is based on the strategy of night trading, it works only with the EURUSD currency pair and on the M15 timeframe, it has not been optimized to work with any other pair or timeframe. The Ea will use take profits and stop losses on all of its trades and will open up positions between 00:05 and 08:20 Moscow time. The Ea also has unique functions for saving profits but it does not mention what they actually are, it also has a lossless function, again no details as to what that actually is.

The EA also comes with a trailing stop feature that can help make profits risk free, the EA can only be used with the MT4 platform and no other platforms, you are also able to do your own trading on the account and this will not affect the EA in any way, it is recommended that you have a minimum account value of $100 but the higher the better you should also use a VPS server as it runs at night.

The EA does not use any dangerous strategies including martingale, grid, or averaging, as these strategies can cause a lot of drawdown on accounts by opening up additional positions when the market move against you and have the potential to blow even the largest of accounts.

It is not clear if the EA comes with any parameters that can be altered as they are no mentions of them on the description of the EA.

Service Cost

The EA can be purchased with a one-time payment of $750, once purchased you will get up to 5 activations of the EA with no other limitations. There are also options to rent the EA should you prefer to do it that way, these will cost you $300 if you rent it on a monthly basis, you can also rent it for three months which will cost you $600 for that timeframe. A free demo version is available to download, this can be sued with the strategy tester with the MT4 platform rather than on a live account.

Conclusion

Unfortunately, at the time of writing, there were no reviews or comments available so we do not have a good understanding as to whether those that have purchased or rented the EA are finding it useful and profitable, it also means that we cannot see what the support for the EA is like. Due to both of these reasons we would suggest trying to get in contact with the developer before you make a purchase, this way you can make sure that it will work for you and that the creator is there to offer you support should you need it.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47196

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