Panda Trader Pro is located within the Experts category of the MQL5 marketplace, it was created by Michela Russo and first uploaded to the marketplace on the 10th of March 2020. It has received its most recent update on the 2nd of April 2020 and it is currently at version 1.2.
Panda Trader Pro is an expert advisor that was designed for the MetaTrader 4 platform, the EA was designed to work as a trend following robot that will look for trends and will trade during the Asian markets, the EA is also FIFO compatible. The EA does not use arbitrage, high frequency, martingale, or grid strategies which are known as some of the most dangerous ones to use, it also has a high resistance to slippage.
The details do not actually explain what the EA does in order to work out its trades, all that it states is that it does not use obsolete indicators and patters and that it has its own artificial intelligence algorithm that works with the market volatility to work out future trends.
The system can work on your own PC but it is recommended to use a VPS so you do not need to leave your computer on overnight, the EA uses stop losses and take profits to help with money management, the EA is best used with the EUSUD and GBPUSD currency pairs, although it can still be used on other ones too.
The recommended settings are that you use the EURUSD or GBPUSD currency pairs, it is best used on the M! Timeframe with an account of at least $500. Should use a low spread account such as ECN and the EA is FIFO compatible.
The parameters and settings that come with the EA allow you to alter the way that it works. Some of the available options include the lot sizes, the risk to use, Bollinger band settings, which days to trade on, take profit levels, stop loss levels, broker times, news filter, and more.
The Ea can be purchased from the marketplace with a single payment of $170, this gets you up to 5 activations of the EA with no other limitations. There is also the option to rent it, this can be done on a monthly basis which will cost you $100 per month, for a yearly rental it will cost you $150 per year. There is also a free demo version available, this can only be used with the strategy tester within the MT4 platform and not on a live chart.
There are four reviews available from those that have purchased or rented the EA, they have given it an overall rating of 5 out of 5.
“One of the few robots on this web resource that shows acceptable results in real trading, and not just in the tester. I recommend. The support also very fast and competent.” – A 5-star review.
“Good in backtesting” – A 5-star review.
So the reviews are all pretty positive which is great to see, there are also a few comments, the developer has replied to one of the comments but not the most recent ones (although they are only a couple of days old) so it would be good to see them reply to those as well. Due to no replies on the most recent comments, we would suggest sending your own questions in to see if you get a reply, this way you can be sure that the developer will be around to offer you support should you need it.
This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47128