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Forex Service Review

Blitz Gold Expert Advisor Review

Blitz Gold EA is a strategy that is based on capturing the movement of prices. This is to avoid those points where the manual traders have positioned their stop loss. In other words, this strategy was developed as a consequence of the struggle between manual traders (including swing traders) and the market.

Overview

Blitz Gold EA is designed for gold trading only (XAUUSD). This is a fully automated EA, and to start trading it is only necessary to install the robot on a graph. The developer says the strategy has worked for more than 15 years and will continue to work in the future. This statement is based on the so-called stop-loss order accumulation points of traders trading with the trend in the medium term or in the intraday. Usually, as a rule, these points are found behind local fractals, often at the highest point of the day or at the lowest.

The task of this EA is to capture the movement of prices when it eliminates the stop loss of other traders, it is often a short-term move, so you need to use an exact stop loss, while there is no need to use an extensive stop loss. This strategy is, therefore, relatively safe. But how can you know where the Stop Losses of the other traders are? Market conditions are changing every year, and since there is no information about where the stop-loss table of other traders is located, this EA uses complicated strategies based on statistics and optimization, in this task, you help indicators such as:

  • Bollinger Bands
  • Parabolic SAR
  • Zigzag
  • Fractals

All these indicators must be installed on your MT4 terminal by default, all of them are available at all commercial terminals.

DISADVANTAGES

When you are trading against another trader, and you reach a point where a large number of transactions converge, it is precisely the large volume of trading orders that is the main problem of this strategy, which involves:

  • Requirements for the execution of orders
  • Sliding

These are the two main reasons that make this EA have drawbacks, so when you are fighting with other traders, you need to have a good broker and a low ping so that EA Blitz can give orders very quickly.

ADVANTAGES

Of course, this strategy has many advantages, compared to other strategies:

  • It is not a martingale
  • NOT a grid
  • Trading with Stop Loss
  • Negotiation of a single order

This robot will always work because this strategy is a consequence of the struggle of manual traders with the market.

Conclusion

The developer of this EA, which is quite recent (February 2020), offers support and update of future versions. Since it is a short-lived EA, there are not many comments from users who have used it, but the few comments that exist are mostly negative, so we advise caution against purchasing this EA until it can be further developed and upgraded.

If in any way you are interested in purchasing this EA you should know that it has a free demo version and that its price is $199 USD in the MQL market.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/31250

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Forex Service Review

BlackBox Beast EA Review

Blackbox Beast EA is a robot created in March 2020 by American developer Gabriel Beaird. Gabriel Beaird is a prolific creator of automated trading tools, and many of them are available on the MQL market.

Blackbox Beast provides the investment market with a highly sophisticated, proprietary, fully automated, algorithmic, non-personal trading software system and infrastructure that maximizes the application and use of AI (Artificial Intelligence), which is non-directional making money simultaneously regardless of whether the market is going up or down, and which is a novelty in its ability to make profits in the market where it is a “three-dimensional” trade philosophy (making profits on small incremental movements of a market…continuously) instead of the “old fashioned” (two-dimensional) method of “make an investment at point A and then make a sale at point B” for a profit, and get this repeatedly 24 hours a day (profit) is almost perfectly linear with a percentage profit slope consistent with time, and a range of 5.5% monthly profit with maximum Reduction (maximum risk managed) may be limited to a maximum of 25% on a recommended retail account of a size of $30,000 in EUR/USD.

A complete and very linear line of Share Curve Earnings that reaches the desired (annual) percentage profit regardless of the “time of entry” into the market. This incredible trading tool took ten years to develop fully, it is not based in any contribution of a subjective person and without confidence in the fundamental or technical analysis or decision-making, it is not used to make decisions related to indicators, is not based on “time” on when entering or leaving markets to achieve the desired profit objective, etc.

All existing investment systems and methods use “subjective human inputs” to enable them to function. First of all, it is desirable to introduce human data as to whether the market product to be invested in is increasing or decreasing the human subjective contribution, long or short. Second, a human input then of “time…” when it is the “right time to trade”, whether it is a long-term or short-term investment (human subjective contribution). Thirdly, the amount of capital to be devoted to such a long or short investment must then be made (human subjective contribution). Fourth, when the investment (long or short) is introduced in, then again “time…” When it is the “time to exit investment” (subjective human input) it now needs to be observed to then come out of that level of profit or loss if the loss is limited.

This obviously gives rise to multiple problems of being the exact and perfect investor in your subject of reasoning, emotion, and input, if the human input guesses the market to rise, and instead lowers…. then the problem is an immediate 50% error starting so the rest of the human inputs from this point on becoming even more challenging to end a profitable trade). Through each step here, human subjective input along with human emotion completely controls the process. The Blackbox tool completely and completely eliminates these big problems.

Additionally, in the sense that all old-fashioned investment systems use Fundamental or Technical Analysis (“reading tea leaves” to (guess) in the likely future of the market and/or market investment product, Blackbox is not held hostage to such a “tea leaf” reading and eliminates and solves all this problem of confidence in analysis and indicators that are usually only useful to see what has already happened instead of any predictive EA for profitable investment. Finally, one of the main investment problems is what we call “two-dimensional” investment. This means, make a trade at point “A” (Buy) and wait for it to go (up) to point “B” (selling position) to close for a profit. Blackbox Beast is a three-dimensional, all-in-one money management, trading, and investment system!

“Point A” is the reason why there is no particular starting point as the system is running continuously. ” Point B” for the exit for profit, rather it is a system of continuous fluids that obtains benefits both long and short as the market advances from where it begins an initial start. Hence the term three-dimensional investment – making money incrementally in markets minor movements if those movements are up or down or both!

We advise for this type of Eas the use of a dedicated virtual server (VPS) to not miss any transaction the robot makes, and also an ECN account in a reliable broker that has low latency so that the orders are executed as fast as possible.

As a newly created tool, Blackbox Beast does not have any reviews from users who have been able to comment on their experiences with using the tool.
Blackbox Beast is available for sale on the MQL market at a price of 1,000 USD, an important investment, and not suitable for all pockets. It can also be rented for 50 USD per month, and most advisable, you can download a demo version so we can check its performance, profitability, and know if it is an optimal tool for our trading style.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47237

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Forex Service Review

Sage EA Trading System Review

Sage EA is an Expert Advisor that was created by the author Serhii Yermolenko. It was originally launched on the mql5 marketplace in January of 2020 and was last updated to version 2.1 in March of this year.

Overview

This Advisor was designed to work on MT4 with the currency pairs EURUSD, EURGBP, EURCHF, GBPUSD, and GBPCHF on the M30 timeframe. The robot automatically places orders based on algorithms that predict price movements in order to decide when to open and close orders. Traders are also given the choice to change multiple parameters that affect the order size, maximum loss at which the advisor should stop trading, take profit & stop loss values, days of the week that trading should take place, money management type, and multiple other settings that control the way that the robot trades.

Service Cost

Traders can only purchase this EA for $75 USD, at this time, there are no options for renting. This is somewhat disappointing, as many other developers offer the ability to rent their products for a month or so for testing. Traders will still be able to use free demo accounts, however. Although it isn’t recommended by the author, you may want to consider VPS and a low-spread broker, which could add to the overall investment.

Conclusion

Sage EA is a fully automated trading robot that uses a price-predicting algorithm to determine when to enter into each trade. Traders can also manipulate multiple parameters, some of which are designed to stop the robot from trading if a specified amount is lost. Most of the feedback has been positive, and the EA has managed to earn a 4 ½ star rating. We found the following reviews to be informative:

“Very reliable EA and significantly improved by the latest updates. Also runs well on the live account.”

“This is good EA and it trades better on risky mode, just decrease the percent of risk. I put 4 stars because SL can be more profitable.” -Pomidori

Judging from the reviews we found, the EA seems to trade effectively for the handful of traders that provided feedback. As long as you’re prepared to make the $75 investment, then this could be a great tool for automated trading. Also, be cautious when manipulating parameters, as they can have a big effect on one’s gains and losses.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/45747

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Forex Service Review

CryptoCurrency MT4 History Maker MTF Review

CryptoCurrency MT4 History Maker MTF is an Expert Advisor that was published to the mql5 marketplace in November of 2017. It is regularly maintained with the most previous update to version 912.301 taking place In January of 2020. This EA was developed by an author of multiple products named Farzin Sadeghi.

Overview

This EA attaches itself to charts within MT4 and downloads the history of altcoins using API from Binance websites. Once the EA has been attached to a chart, traders can select their needed pair, along with the timeframes that charts need to be generated for.

Here are some of the EA’s other features:

  • Automatically downloads all timeframe history
  • No need to attach multiple EAs to different charts
  • Allows traders to select one pair from Bittrex & 4 pairs from Binance exchange
  • Allows traders to create up to 15 timeframes for 5 different pairs
  • Steps in the EA code make it compatible with the MT4 history format

The developer explains that he was becoming frustrated with the charting platform on the Bittrex website, so he developed this EA to have cryptocurrency charts in MT4 and to be able to use those with other indicators to provide better trading results.

Service Cost

The developer offers multiple different pricing options, giving traders a bit of leniency if a large purchase isn’t possible. It does cost $129 USD to buy with 5 activations, but renting starts at just $15 for 3 months, $29 for 6 months, or $55 for one year. The price for renting the EA for one month is low enough that it makes testing possible, but there is also a free demo version available for traders that need a little more reassurance.

Conclusion

Cryptocurrency MT4 History Maker is a program in the form of an EA that automatically downloads history for multiple pairs at any one time. The developer updates the EA fairly regularly and responds to user comments quickly. The EA has received 0 reviews and 35 comments in total, but most of the users are asking the developer questions about updates and other matters, so we don’t get to see much feedback about how well the EA works. If you’re interested, then it may be worth checking out the demo or renting for one month for testing before buying at full price.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/25885

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Forex Service Review

ProjectX Automatic Trading Robot Advisor Review

Project X is an Expert Advisor that was published on the mql5 website by the author Oleg Popov, who has launched 4 separate products on the site. It was made available on January 28th of 2019 and last updated to version 5.0 in October of that same year.

Overview

Project X is an automated trading robot that follows scalping, grid, and intraday trading strategies with indicators and candlestick analysis inputs. The developer highlights several different ways that the EA can be used, such as closing a position at the opposite signal, different uses for stop loss, regeneration mode if losses are incurred, a specified timeframe for trading, and automatic calculation for input volume.

Historically, scalping and grid strategies can be risky, yet profitable, as scalping focuses on making small gains off multiple trades, while grid trading essentially creates a net that allows it to profit from the fluctuations in the market. Both work well with the intraday trading strategy, which focuses on buying and selling positions within the same trading day.

Service Cost

Traders can either rent the EA for $10 per month or purchase it for $120 USD. This only comes with 5 standard activations, so be sure to keep up with your current number of installations. It’s also possible to test the robot by downloading the free demo version.

Conclusion

Project X is a trading robot that uses several different strategies, including the riskier grid and scalping techniques, in combination with intraday trading. The robot could take some of the pressure off traders that often follow these methods, as it can require long hours sitting in front of the computer in order to place multiple trades. One of the best ways to check a product’s success is to read user reviews, and while this EA hasn’t received an overwhelming amount of feedback, it has received enough to let us know that it is a worthy option.

For example:

“I wake up every day to consistent profits from this EA. It has exceeded my expectations. I’m very happy with it.” -hyperteddy

“It’s making profit and working well” -Syed

“So far decent profits on my live account. Good EA for the price.” -Todd

AS you can see, most traders have had good experiences with the product. Although the $120 price might be slightly intimidating for beginners, the $10 per month renting rate is the perfect option for anyone who is apprehensive about paying full price.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/34099

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Forex Service Review

Miner Parafly Expert Advisor Review

Miner Parafly is an Expert Advisor that was created by the programmer Yip Sin Hang. It was launched on the mql5 website in August of 2018 and most previously updated to version 7.3 in June of 2019.

Overview

Miner Parafly is an automated trading robot that uses scalping, pending trailing, trailing stop, individual breakeven SL, Multi-pair TP, the SL level of the account equity, daily swap profit, profit, and SL auto calculation, and a few other strategies. It works with 18 outlined currency pairs and multiple timeframes on the popular MetaTrader 4 trading platform. Parameters allow traders to set the maximum lot size, auto lot size by account equity, stop loss by account equity, and the magic number.

The indicator also avoids risky techniques, such as Martingale, grid, hedge, etc. and avoids inflated spreads around holidays. It is recommended to use an ECN/Standard broker with a low spread. Islamic accounts cannot be used with this advisor.

Service Cost

The developer does not provide traders with any low-cost options – this EA cannot be purchased, it can only be rented at a rate of $499 USD per year, and this only comes with 5 activations. Yip Sin Hang also asks traders not to believe in backtest results, so the price and lack of demo testing seem to be the main disadvantages associated with the product.

Conclusion

Miner Parafly is a fully automated EA that trades using several different strategies, with some safety guidelines that avoid historically risky techniques such as Martingale and others, along with high spreads. This product has received a 4-star rating, along with a few comments:

“The EA is very Safe. Support from the author is always very fast and very nice, he strives to help us where he can. From me 5 Stars. Exactly what I need.” -Riza

“It’s a slow-motion EA. Good to avoid any heart-attack, even better for meditation about trading. I like it.” -Markus

The biggest drawbacks come in the form of price and testing issues, and it seems that this EA does profit slowly, so it may take a while for the EA to pay for itself at its current $500 yearly renting rate. It isn’t for everyone, those with a low starting investment or Islamic traders will want to avoid it altogether. Overall, this EA does seem to be a good investment in the long-run for the targeted traders that have the time and money to invest.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/31224

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Forex Service Review

MV Forex Trade Manager Review

MV Trade Manager is an automated Expert Advisor that can be purchased on the mql5 marketplace. Its author Mahdi Vaseghmanesh has published 13 products in total. The EA was launched on April 15th in 2016 and was most recently updated to version 1.7 in October of 2019.

Overview

MV Trade manager is an automated trading robot with automatic stop loss and take profit, trailing stop, trailing step, breakeven, and automatic stop when a position reaches a specified profit or loss percentage. We know that it works with the pair EURUSD on the H1 timeframe, but the author doesn’t specify whether other timeframes/instruments are used. This EA also offers the ability to create your own strategy in the MT4 strategy tester.

https://youtu.be/XGZTO7LApGw

Service Cost

Traders can purchase the EA for $30 USD with 10 activations. There is no option for renting, but we feel that the overall cost is quite competitive for an EA that offers automatic trading. The developer doesn’t mention any prequalifications for one’s broker, so it seems as though this advisor can be used with any live account, although a lower spread is always helpful. Free demo accounts are also available.

Conclusion

MV Trade Manager is a trading robot that also offers the ability to create your own trading strategy when backtesting. The EA was given a 4-star rating, but only has one review, which we found to be very informative:

“I would have given this 5 stars, except that this product caused me to lose 8 trades today and ruin my 100% win record! Where you input your SL and TP the settings state “Pips”, however, you actually need to input your SL and TP in Points! Hence many of my trades got stopped out today after a perfect run since the beginning of July 🙁 Developer needs to CLEARLY indicate settings. Other than that, it’s a good tool.”

It’s quite possible that the mislabeled settings that confused the above user have been fixed, as the EA has been updated 4 times since the comment was made, but the “What’s new” panel does not clearly specify whether this was fixed. While this is somewhat off-putting, do pay attention to the user’s statement that she had a 100% win rate before this problem caused losses. As long as you keep a lookout for that problem, then this EA could definitely rake in profits when used wisely with a good broker.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/15866

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Forex Service Review

Blitz (Gold Pluse) Automated EA Review

Blitz is an Expert Advisor that was published to the mql5 marketplace in February of 2020. The developer Gennady Sergienko last updated it to version 1.7 to fix some bugs within the programming the day after its launch.

Overview

Blitz is a fully-automated EA that was created to trade Gold (XAUUSD) on the MT4 platform. Using a breakdown strategy based on capturing price movement, it catches the price movement when it knocks out the stop loss used by manual traders. The EA estimates the stop loss of other traders by analyzing statistic-based strategies such as Bollinger Bands, Parabolic SAR, ZigZag, and Fractuals. Note that all of these indicators must be installed within your terminal for the EA to work. There are advantages and disadvantages to the overall idea.

Speaking advantage-wise, the strategy is safer than riskier options such as Martingale and it should typically work, as it is a consequence of trading against manual traders. On the downside, Gold is a more volatile instrument and traders should expect to see serious levels of resistance when there is a large volume of orders. Requotes for order execution and slippage are other potential drawbacks; however, trading with a reliable broker with a spread of less than 30 and a low ping can reduce the negative outcomes here.

Service Cost

For $199 USD, traders can buy this product with 14 activations. There is an option to test it using a free demo account, but the developer doesn’t offer traders the ability to rent at a lower rate. Being that this EA only focuses on Gold, traders might need to purchase additional software to trade currencies, which would of course increase their overall investment in EAs.

Conclusion

This EA is intended for trading Gold, which is historically more volatile than trading with regular currency pairs. It makes guesses about others stop loss in order to trade against them by taking specific strategies into consideration, but there are some potential pitfalls that come with this type of strategy. If you’re curious as to how it has worked for others, you’ll only find the overall rating to be 2 and a half stars. We found the following comments interesting:

“Waiting for update/improvement.” -Stephan

“If the EA developer decides to answer some questions that I have and provide an update to make this a profitable EA I’ll re-evaluate my rating.” (one-star review) -Biro

Taking all reviews into consideration, there seem to be two main problems; first, the developer needs to provide another update to address some existing issues, and second, the developer takes several days to get in touch with users. Traders will want to consider these potential drawbacks along with the price, or perhaps it would be best to wait for the program to be updated from version 1.7 before buying.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/31250

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Forex Service Review

CAP Zone Recovery EA Pro Review

CAP Zone Recovery EA Pro is an Expert Advisor that was published on the mql5 marketplace in December of 2016. The author, Mohammad Ali, provides consistent updates and last updated the EA to version 7.0 in March of 2020.

Overview

CAP Zone Recovery EA Pro is a trading robot that works on the MT4 trading platform. The basic idea behind this EA is that traders can place any trade, no matter which direction, and it will provide a guaranteed profit. According to the developer, this is possible due to the built-in “back and forth” hedging mechanism, along with the “Zone Recovery” algorithm that is employed by the robot.

If the market moves up and hits your take profit level, then the EA will close the trade with the fixed profit. Should the market move in the wrong direction, the algorithm will begin hedging your trade by placing an opposing order with multiple lot size.

If things head back in the other direction, the same process restarts, essentially creating a trading channel. If the take profit level is hit once the recovery action process is started, then the EA will close out all existing trades in order to take the combined profit. If the developer is correct, then the robot will make a profit in either scenario.

Service Cost

It costs $30 USD to buy this product, or traders can rent it for $10 a month. The overall price is fairly cheap for a fully-functioning EA, as others are priced in the $100 range. The author also provides free demo accounts, which can effectively be used to test the robot’s profitability before making a commitment.

Conclusion

CAP Zone Recover EA Pro places trades based on the premise that the market will move either up or down, simply because it has to. The developer does use some language that could be misleading, such as “guaranteed”, the “Never Lose Again Strategy”, etc., so we were curious as to whether others claim that these statements are founded.

Here are a few comments that we found:

“This EA will always make you money no matter what the market is, whether ranging or trending it doesn’t matter, you just have to practice the best lot sizes that can fit your account size” -Travel11

“This is a great EA with a ton of functions, the BIGGEST thing with this is to have enough margin to cover your recovery cycle. Find out how many recovery trades you can get into with your available margin and don’t go over that or you can take some huge losses.” -kurtwest15

Overall, the EA has received a 4-star rating based on 89 separate reviews. Most comments state that this is a great product, but we do want to warn traders that even the best reviews throw out tips or warnings and some users inform traders that they should be careful with some features. If you’re going to purchase the EA, be sure to check out the comments section for tips and don’t blindly believe the author’s statements that you can’t lose with this product – it’s impossible to guarantee profits with any auto-trading product, so use it wisely.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/20160

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Forex Service Review

Elastic Grid Multi-Functional EA Review

Elastic Grid is an Expert Advisor that was created by the author Aliaksandr Charkes. It was published on the mql5 marketplace in December of 2016 and was last updated to version 4.0 in March of 2020.

Overview

Elastic Grid is an automated trading robot that places trades based on various ideas related to grid trading. In a nutshell, grid strategies rely on placing a certain number of buy/sell orders at regular intervals, above or below a set price, in order to target gains rather than stopping losses. When a gain is recorded, the same number of buy/sell orders are placed above or below the set price again, resulting in a net or grid that gains profits back and forth depending on the market.

Here are a few more key facts about the way that this EA works:

  • Compatible with MT4, with any timeframe, symbol, amount of decimal places
  • Can be used in combination with other EAs or indicators without conflict
  • Supports independent settings for grids with different order types
  • Automatic TP and SL levels that can be changed at any time

Service Cost

The EA can be purchased for $60 USD with 10 activations, or rented at one of the following rates:

  • $10 USD for one month
  • $20 USD for three months
  • $30 USD for six months
  • $45 USD for one year

Free demo accounts are also available and have been downloaded more than 400 times by other traders. There aren’t any specific recommendations based on what type of broker to use, but we would recommend choosing a low-spread broker and possibly investing in VPS.

Conclusion

Elastic Grid follows a grid-based strategy, essentially profiting by creating a net that gains profits back and forth depending on fluctuations in the market. This EA has only received the following comment:

“Alex is a very talented developer and made an update of the grid on my demand. The elastic grid is a profit creator for the ones who know how to use it, five stars deserved!”

Using a grid-based strategy isn’t without risk – it is actually one of the riskier strategies that are banned by some programs. Before choosing this EA, you’ll want to be sure that you’re aware of the risks involved with some background knowledge so that the various settings can be tweaked appropriately.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/19749

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Forex Service Review

Forever Expert Advisor Review

Forever is an automated Expert Advisor that was created by multi-product author Ivan Simonika. The product was launched on the mql5 website in January of 2020 and it has not been received any updates from version 1.0.

Overview

Forever is a fully automated trading robot that controls the volume of trading positions, slippage, and spread, while maintaining and protecting open orders. This EA protects against losses in several different ways:

  • Each trade uses SL and TP to protect the trader’s deposit
  • When reconnecting, the advisor continues to work with its orders
  • Does not use dangerous methods such as Martingale, net, arbitrage, etc.

The EA features a small number of settings and comes with simple installation so that it can be used by traders of different skill levels with less frustration. It was designed to work with major currency pairs on the MT4 platform.

Service Cost

This advisor isn’t cheap – it costs $350 USD to rent for just one month or $400 for 3 months. If you’d rather purchase the EA, then you’ll be paying $650 and this only comes with 5 activations. On the plus side, Forever can work with deposits of any value, but if you’d like the EA to pay for itself, then you’re going to need to make a larger deposit. Traders should also take advantage of the free demo version for testing before making a purchase.

Conclusion

Forever is an automated EA that employees several different loss prevention methods, while maintaining control of several other factors that guide the way that it trades. This EA has not received any ratings, and it only has one review:

“The test is based on a fixed spread, which is never the behavior of any currency, the market behavior is different, for this reason, the results of the real account of the bot never get profit, example GBPUSD currently has an average spread of 20 to 30 and your test is based on spread 6, it will never make transactions based on its configuration, it should offer the bot announcing that it only works with spread 6” -tolova

This comment is concerning, and what is even more concerning is that the author was only willing to respond to this trader through a personal message, so we don’t know the outcome. There have not been any updates since the comment was posted. Overall, this EA comes in a neat package and looks like a profitable option at a glance, but the price and possible problems are enough to make us apprehensive about paying $350+ to use it. Our final advice would be to test the demo before you buy, or to look for a cheaper option with better reviews.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/45601

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Forex Service Review

Heiken Ashi MT4 EA Review

Heiken Ashi EA MT4 is an Expert Advisor that was created by Eleni Anna Branou, owner of Juvenille Emperor Limited, which publishes forex signal subscriptions, EAs, and utilities on the mql5 website. This product was launched on January 10th of 2020 and remains as version 1.0 with no updates.

Overview

Heiken Ashi EA is a fully automated trading robot that trades Heiken Ashi candles in both the traditional way or with a new approach, whichever is desired by the user. The traditional method involves opening a single trade after the close of the first different candle color, with an opposite trade on every HA (Heiken Ashi) color change. Through the new approach, the first trade is opened after the first HA candle has been closed and then opens a new same direction trade on every candle, as long as the color remains unchanged.

The EA also offers several settings that allow traders to limit the distance between the same direction orders and to control the trading account’s profit and/or loss at basket level. As indicated by the name, the product works on the MetaTrader 4 platform and is compatible with VPS.

Service Cost

This product can be purchased for $40 USD, which is a low cost for a 100% automated EA. It can also be rented for $10 a month, $15 for 3 months, $20 for 6 months, or $30 for one year, and the purchase comes with 5 activations. VPS is not necessarily recommended, but this EA is compatible with it and may produce better results, so this is another cost to consider. Testing is possible through demo accounts.

Conclusion

Heiken Ashi EA MT4 places automated trades based on either the traditional Heiken Ashi candle method or through the author’s new approach. It also allows traders to take more control of certain settings that have to do with profits/losses and other factors. More than 100 users have downloaded the demo version; however, there are no ratings or feedback from users. It’s always reassuring to see that this type of product has worked for others, but we feel that the low cost of renting for a month makes this investment less risky.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/45283

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Forex Service Review

OandaX Download Manager EA Review

OandaX Download Manager is a member of a series of products produced by the Oanda Fxlabs service. The EA was uploaded to the mql5 marketplace in November of 2016 and most previously updated to version 1.4 in February of 2017.

Overview

The OandaX Download manager provides historical data for 16 instruments, including options like AUDJPY, AUDUSD, EURAUD, and several others, in addition to Gold and Silver. It works with a Position Ratio (ratio of buyers and sellers), includes an Order Book that displays the distribution of limit and stop orders by price levels, and a histogram that shows active positions that were made when the histogram was formed.

Here are a few of its other features:

-Works with the most popular trading platform, MetaTrader 4

-The minimum step of history data is 20 minutes

-Any previously downloaded data is available to the indicators without running the EA and can be used for backtesting

The Download Manager is included in the OandaX product series and works with data from all of those indicators (OrderBook Image History, 5 Ratio History, Positive Ratio, etc.). This product is an Expert, although it is categorized as a utility.

Service Cost

The developer offers four separate renting options:

  • 1 month for $15 USD
  • 3 months for $36 USD
  • 6 months for $60 USD
  • 1 year for $96 USD

Traders cannot purchase the product outright, which might be an inconvenience for anyone who plans to continue using it indefinitely. A free beta version of the product can also be used to test strategies and to analyze historical data, with the only downside being a one-day delay and possible bugs due to its being in beta.

Conclusion

OandaX Download Manager is a professional EA that can be used to analyze data or even to create EAs related to the series of products designed by Oanda Fxlabs. It has only received four reviews, with the majority of those being positive. For example:

“Very nice product, definitely worth trying if you are interested in trading with the Sentiment provided with Oanda, or make EAs using it. 5 starts product, the programmer is very professional, I have been using it for 5 months and I plan to use it further.” -BeLikeTrader

“Great Sources of data for my MT4 EA’s”

If this product is something you’re looking for, then it could be worth renting. If you’re still on the fence about it, then consider testing out the BETA version before making a decision.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/19494

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Forex Service Review

Peregrine Expert Advisor Review

Peregrine is an Expert Advisor that was published by author Aleksandr Astahov on the mql5 marketplace in September of 2017. The most recent update to version 1.10 occurred just 3 days later.

Overview

Peregrine constantly monitors the market, looking for impulse movements or moments of high volatility. Whenever one occurs, the automatic EA places an order in the direction of that movement.

Here are a few quick facts about the automated Expert:

-Best results are with 11 currency pairs, including majors USDJPY, GBPUSD, AUDUSD, and USDCAD, in addition to several minors.
-It also works with metals & oil.
-Works with any timeframe – M1 is recommended
-Compatible with any account type with four or five decimal places
-Does not use indicators or high-risk strategies, such as Martingale, grid, or average
-Orders are protected and closed by stop-loss; take profit is absent

This EA needs to be used with a low-spread broker that offers quick execution of orders. The developer recommends using VPS to minimize any delay.

Service Cost

This EA is priced at $30, which isn’t much for a fully functioning EA. Of course, traders will need to invest more than this overall – a $50 starting deposit is recommended, although some brokers may require larger deposits if you’re opening an account. The developer also recommends using VPS, which can add to the cost. Some brokers do offer this at a reduced cost or even for free with certain account types, but costs and deposit minimums can vary widely for something like this. Free demo accounts are also available and should be used for testing with your broker.

Conclusion

Peregrine is a fully automated EA that constantly monitors the market and enters into trades based on certain factors, without using indicators or riskier trading strategies. Orders are protected by tight stop loss. One of the biggest downsides to choosing this product is a lack of feedback from other users – the indicator remains unrated with no reviews, and most of the comments are from the developer.

If you do decide to purchase this EA (renting is not offered), then you might be taking a bit of a gamble in being one of the first to do so. To set yourself up for success, it is imperative to choose a reliable broker that offers low spread and fast execution, and VPS is recommended, which might add to one’s overall investment. Should you choose a broker with a high spread, then profits will be nearly nonexistent.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/23924

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Forex Service Review

Wolf Scalper Pro Trading Robot Review

Wolf Scalper Pro is one of many Expert Advisors that is available on the mql5 marketplace. It was originally uploaded on February 18th of 2020 by the author Michela Russo and has not yet been updated from its original version.

Overview

As you might have guessed, Wolf Scalper Pro is a trading robot that follows a scalping-based strategy. Through the strategy, traders profit off small changes. Those trading manually need to employ strict exit strategies to avoid losing all of their smaller gains in one sweep, and traders would typically need to sit in place making multiple small trades. This is where the trading robot comes in – it analyzes the market looking for the main trend, and executes automated trades based on a combination of market volatility and a specialized algorithm.

This EA was designed to work with the pairs EURUSD, GBPUSD, USDJPY, USDCAD, AUDCAD, and EURJPY with the M1 timeframe on the MetaTrader 4 platform. The developer does not recommend using it to trade other currency pairs. Traders will also need an ECN, STP, or Non-Dealing Desk broker with low spreads and commissions. The EA does not work with dangerous trading strategies, such as grid, arbitrage, martingale, etc. Those that need help with installation can contact the author for a free tutorial video.

https://youtu.be/KvKLSbKzKWk

Service Cost

Traders have the option to choose from renting the EA for $65 USD a month or $85 a year. Otherwise, one can simply purchase the program for $95. The overall price is fairly average, but it does cost a good bit to rent the EA, especially if you’re paying by the month. Backtesting is possible and might be the best means of testing, considering the cost of renting.

Conclusion

Wolf Scalper Pro is a fully functioning EA that works with 6 different currency pairs on the MT4 platform. Using a unique algorithm, it follows the trend and places trades based on a scalping strategy, profiting through small gains that add up over time. One of the major downsides to this strategy is that one large loss can wipe out the smaller gains that the robot has earned, as is always the case with scalping. If you’re curious about other’s experiences, you’ll find that the EA has earned a 5-star rating from users. If you’re a scalper, then this EA has the potential to make your life easier and to potentially pay for itself over time.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/46476

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Forex Service Review

VR Locker Expert Advisor Review

VR Locker is an Expert Advisor that was published to the mql5 website in August of 2017. The developer, Vladimir Pastushak, last updated the EA to version 17.90 a month after it was launched.

Overview

VR Locker is a trading robot that opens two market orders with the same volume in opposite directions, essentially using a grid of orders to spread the orders. The EA works with positive locks to allow for safer trading, which accumulates floating profit to create a sort of safety cushion that protects against losses.

Here are a few key facts about the product:

  • Works on the award-winning MetaTrader 4 platform
  • Works with any timeframe; H1 or higher is recommended
  • Tested and developed for currency pairs, cryptocurrencies, and other instruments
  • Can be used in combination with any other EA or with manual trading
  • Designed to be used by traders of all skill levels, including beginners
  • Technical support available via Skype or email

Service Cost

There are a few separate pricing options available:

  • Rent for 3 months for $30 USD
  • Rent for 6 months for $50 USD
  • Rent for 1 year for $100 USD
  • Purchase for $199 USD

Note that the developer includes an impressive 30 activations with any purchase, which is much more ideal than the standard 5 activations offered with most products on the site. Free demo accounts are also offered as a way to test the product without making an investment.

Conclusion

VR Locker is an automated trading robot that uses positive locks and places orders in opposite directions to create a grid in order to provide a safety cushion that protects against losses. It is a versatile product that works with all trading instruments on the popular MT4 platform. We were a bit concerned with the product’s one-star rating, but we found the rating to be solely based off of the following review:

“It’s not an EA recovery” -Fallet

Keep in mind that the author does give some outlines that must be followed to ensure the robot is profitable, so it is possible that this trader didn’t use the correct settings, although the review is still troublesome. If you’re interested in the product, we would recommend testing a demo first, just to be safe, or renting it for $30 for three months before purchasing the product at full price.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/24948

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Forex Service Review

StoneBreaker Lite EA Review

The Expert Advisor StoneBreaker Lite was launched on the mql5 website in October of 2018 by the programmer Yip Sin Hang. It was most recently updated to version 4.40 in April of 2019.

Overview

The developer of StoneBreaker believes that 90% of the market is range or swing; therefore, the EA focuses on this type of market while preventing large drawdowns and controlling risk with a stop loss function. The EA is based on price action order starts, uses Martingale, and follows a scalping-based strategy. It also avoids inflated spreads during holidays.

Here are a few more key facts:

  • Works on the MT4 trading platform
  • Users can choose their own pairs or trade with the recommended pairs on the chart
  • Works with any account type and leverage of 1:500

The author advertises 100% returns and claims that $10,000 can be turned into $40,000 in one month. We want to be sure to point out to our readers that it is impossible for the author of a product like this one to promise these results. This doesn’t mean that StoneBreaker isn’t profitable, but you shouldn’t go in with extremely high expectations.

Service Cost

The Lite version of StoneBreaker can only be rented at a rate of $899 USD for one year. The cost is extremely high, especially for a product that cannot be purchased. In low and medium risk mode, $1000 is required per pair. According to the author, this EA will more than pay for itself within a month, but traders should be sure that they can recover if it doesn’t. Backtesting is possible, although the developer claims that those results cannot be trusted.

Conclusion

StoneBreaker Lite is a complex EA that uses several strategies and takes some precautions to avoid losses, although it does use scalping and Martingale, which are risky. The author is adamant that profits are guaranteed and that this EA will more than pay for its $899 yearly price, so we were very interested in user feedback.

We found the product to have a 4-star rating, with some of the following reviews:

“Overall, I had lots of questions in regards to the EA. The Admin of this product helped me “literally” instantly and answered all my questions. Along with helpful tips. Great customer service!!! A+” -Jerry

“First Orders Closed. First week of use was profitable.” -Patrick

“Garbage EA. EA just lost almost 800 dollars after receiving advice from the developer. He was helpful before I rented it but no help after I rented it” -jpettaway01

While most of the reviews mentioned how helpful the developer has been, a few claimed the opposite and lost money. Nothing is promised, but most reviews point to a profitable experience; however, this EA isn’t for everyone. If you don’t have a lot to invest and risk for large profits, then you’ll do better choosing a cheaper EA that works with a smaller deposit.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/32367

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Forex Service Review

Real Promo Expert Advisor Review

Real Promo is an expert advisor that was published to the mql5 marketplace in September of 2018. The author Sergey Lisnyak claimed to have retired from business only one month after this indicator was launched, but he did update it to version 2.1 for added functionality in November of last year.

Overview

Real is an automatic robot that was designed to work with index CFDs, cryptocurrencies, metals, commodities, and the main timeframes H1 and H4 on MT4. The developer mentions that traders can also run the bot with currency pairs, but he does not recommend doing so. The EA does not use strategies that are considered dangerous, such as Martingale, averaging, and others and there is a limit of one trade per pair. Unlike many other expert advisors, the developer does not try to market this product towards novice traders and especially beginners. It was designed to be used by more experienced traders instead.

Traders will have to reach out to the developer for help with setting up their accounts. According to the author, what makes Real different from other EAs is a set of what he deems smart control units. The units cover slip, stop loss, and spread protection, along with order execution tests that determine the quality of liquidity available through your broker. Traders can go with default settings or customize from an “endless” list of available options.

Service Cost

Real pro is an expensive EA that was designed with more experienced and financially stable clients in mind. It can be bought or rented, but it costs $399 USD to rent the bot for just one month, while the overall price is $499 USD. You could save $100 by renting if the EA turned out to be a bad investment, but you’ll be paying right at $400 extra just to test it for that extra month should you decide to buy it.

Conclusion

Real Promo is an EA meant for more experienced traders working primarily with CFDs. It offers multiple setting customization options and puts some limitations in place to avoid dangerous trading strategies. Some traders may not enjoy the need to reach out to the developer after purchasing the EA, while the developer’s disappearance into temporary retirement after the software was launched is not reassuring. With the cost of this EA being so high, it’s important to consider what others have to say. Many have left 5-star reviews, but others were concerning.

Take a look at some comments below:

“It’s been eight days after the purchase. I tried to contact (seller) through all parties and still didn’t receive the setup file.” (This user later commented that it takes 3-5 days to receive a response through email and the seller was not even remotely helpful) -kk14741474

“Great EA! Thanks!” -Grillmaster

“So far so good, excited to see what the future is like. Seems stable.” -Jonathan Moss

Despite the positive feedback, our first commenter confirmed our fears that the developer isn’t always working or willing to be responsive. Imagine paying $500 for this EA without being able to set it up for potentially weeks due to the seller failing to respond to messages. Even with good results, this is enough to scare some traders away.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/31387

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Forex Service Review

Krimbler Semi-Automated EA Review

Krimbler EA is an Expert Advisor that was added to the mql5 marketplace back in August of 2014. Its author Artem Trosin last updated it to version 1.2 the month after its initial launch.

Overview

This semi-automated Expert Advisor (EA) profits from market volatility by detecting divergence and corrections on the MT4 platform. Advanced settings allow traders to find the best configuration for different currencies or timeframes and traders have access to an array of modules that provide the ability to set up a profitable system.

For example, the “Hunter” module detects entry points using 4 different methods, the “Keeper” ensures that trades are not placed too close together, “Guard” limits account drawdown by closing positions or implementing more advanced methods to limit losses, and “Scalper” detects specific candle types and tries to close orders in order to manage profits. There are several others included. Together, these modules work in combination to maximize profitability and to limit overall losses. Traders can use all 8 modules together or pick and choose which to run.

Service Cost

The developer only provides users with the option of buying this product outright for $49.99 USD. Many others offer the ability to rent their indicators at a lower price, but the demo version of this indicator could still be helpful when it comes to testing before buying.

The following minimum deposits are recommended:

  • $1,000 with a 0.01 (micro lot) minimal lot size
  • $10,000 with a 0.1 (mini lot) minimal lot size

Conclusion

This EA works in combination with several handy modules to profit under market volatility. The developer markets this EA more towards experienced traders and explains that the best-intended use would be to allow a reasonable amount of drawdown, primarily using the “Guard” module. Although it has been released since 2014, Krimbler EA has not received any user comments or ratings, making it a risky choice without proven results. We’d suggest taking the author’s advice in this case and only purchasing this product if you have a good bit of experience under your belt and to bear risk-management in mind whenever you’re trading.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/5524

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Forex Service Review

Hit And Run FF EA Review

Hit and Run FF is an Expert Advisor that was created by Catalin Zachiu and published to the mql5 marketplace in May of 2019. The EA was most recently updated to version 2.2 in May of 2020.

Overview

This EA is compatible with the pairs EURUSD, USDJPY, and GBPUSD on the MetaTrader 4 trading platform with the H1 timeframe. The program uses tops and bottoms to place buy stop or sell stop orders with a small stop loss. If the order isn’t closed it continues to ride the trend until passing a certain number of bars or being stopped by an implemented indicator.

The developer recommends trading with a low-spread broker, due to the fact that increased stop loss can lead to a higher drawdown; however, this is up to the user. The EA comes with a breakdown and trail stop function, along with a loss recovery system with more restrictions than in the paid version. Note that there are other restrictions on the free version that have been detailed in the following section.

Service Cost

This review focuses on the free version of the EA, but there is also a paid version that offers traders more flexibility. Here are some of the key differences:

  • The free version can only be used once per symbol, while paid version is unlimited
  • LotSize, RiskInPercent, and LotManagement are only available in the paid version
  • The loss recovery function has more restrictions in the free version
  • “Magic” lot management is only offered in the paid version

If you can deal with the restrictions, then the free version should be sufficient. If not, you can purchase the professional paid version of the software for $30 USD.

Conclusion

This EA was designed to work with MT4 and is best used in combination with a low-spread broker. It hasn’t received a lot of feedback and users seem to have conflicting opinions. For example:

“Thanks for a nice, accurate indicator.” -Evgeny

“There are plenty of better experts around.” -GT2560

Still, this version of the EA is completely free, so traders will only be risking potential investments. If you find some of the restrictions to be too limited, then it might be worth considering buying the professional version after testing to gain access to those perks.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/38477

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Forex Service Review

Hamster Scalping Premium Expert Advisor Review

Hamster Scalping Premium is an Expert Advisor that was developed by Ramil Minniakhmetov. It was published recently, on February 4th of 2020 and has not yet been updated from its original version.

Overview

Hamster Scalping Premium is a fully automated Expert Advisor that filters entries using an ATR-based filter and the RSI indicator. The EA always follows the trend and uses a scalping based strategy. It uses a trend finding indicator named Black Dragon (developed by the same author) in order to pinpoint trends to follow. The EA does come with a couple of requirements that must be filled on the broker’s side – a good execution with a spread of 2 to 5 pips is required, along with a very fast VPS (with a latency of no more than 3). The EA is fully compatible with the MetaTrader 4 trading platform.

Service Cost

This EA can be bought for $30 USD with 5 activations. There are no options for renting, but the price of the EA is fairly average and not a bad deal for a fully automatic option. If you’re still unsure, you could always test out the free demo version to get a better idea of how this EA might work for you.

Conclusion

This EA is good for beginners for the fact that it is fully automated and it is also a good solution for scalpers looking for an automatic EA. Hamster Scalping Premium does ask for certain requirements on the broker’s side, so it may not be the best choice if you already have a broker that doesn’t fit in with those guidelines. Nearly 1,000 users have tested the demo version so far, but actual purchasers left us with mixed reviews.

For example:

“A very junk EA, it will only be liquidated in the end, there is no stop-loss” -zy1337

“EA for losing money. Very bad entries” -Pomidori

Meanwhile, a few others left 5-star reviews. Of course, the EA will work differently for different people and some bad reviews may be partly on behalf of the user. Still, we would recommend testing the demo before making the purchase, just to be on the safe side. As time goes on, the EA will likely receive more reviews, so stay updated.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/45939

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Forex Service Review

FiboTrend Forex EA Review

FiboTrend is a fully automated Expert Advisor that is the sole product published on the mql5 marketplace by author Petar Kolev. The product was originally launched as version 1.2 in September of 2015.

Overview

FiboTrend is an automated trading robot that uses moving average to detect trends. It places a Fibonacci chart on the graphic, waits for correction, and places orders on levels 23.6, 38.2, 50.0, and 61.8. A manual function is also available, where the robot enters trades based on the Fibonacci chart and certain settings chosen by the trader. Here are a few more facts about the EA:

  • Works on the MetaTrader 4 trading platform
  • Can be used with any pair or timeframe; USDEUR and M30 are recommended
  • VPS is recommended

Service Cost

Traders can rent this EA for $10 USD a month or $20 for 3 months. It can also be purchased for $80. Overall, these prices are relatively low for an automated trading robot, but do keep in mind that only 5 activations are included so use them wisely. The EA also requires a minimum of $200 USD on a lot size of 0.01, so you’ll want to make a larger deposit into your trading account. VPS is also recommended and may add to the cost, unless you can find a broker that provides it for free with your account type. Free demo accounts are available with no purchase requirement.

Conclusion

FiboTrend is a trend-following EA that uses moving average and Fibonacci charts. While the EA does not have any ratings, it does have a few interesting comments:

“We were not successful, with a modeling 99.90%” -technow

“How does this work, please? IT is buy at fibo 100 – sell at fibo 61.8 on uptrends and then buy again at? How does the sequence work?” -mylien

“Can I get to see a working myfxbook page…the one you posted above does not work anymore” -Farooq

The author only replied to one comment…otherwise, he completely ignored the user’s questions or cries for help. If you’re going to use this product, we would highly recommend using VPS, even though it isn’t absolutely necessary. Also, follow the author’s advice to test the EA in strategy tester to evaluate risk and frequency parameters and make necessary adjustments. In conclusion, the author does not seem to be very interested in traders using his product, and all comments were from frustrated users that didn’t get good results, so traders may want to skip this one altogether or use it at their own risk.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/11120

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Forex Service Review

Exp Averager Expert Advisor Review

EXP Averager is an Expert Advisor that was published on the mql5 marketplace back in December of 2013. The developer, Vladislav Andruschenko last updated it to version 19.802 in August of 2019 and remains responsive on the comments page.

Overview

This EA was created to average deals that have had a drawdown and gone against the trend. It can also open additional positions that go with or against the trend with a general trailing stop. It works by opening a position in the same direction with the volume equal to lots from the previous deal whenever a specified number of points equal to the distance, modifies the general take profit and stop loss on deals when the price breaks the zero-line point for each.

Traders can also set the maximum number of positions that can be opened for averaging. Note that this EA doesn’t make automatic trades – it simply monitors and averages deals made by the trader in the case of drawdown until the trader received a profit. The system works with the popular MetaTrader 4 platform and the author also provides a similar MT5 version.

Service Cost

EXP Averager can be rented at a rate of $10 for 3 months or $20 for a year. The EA can also be purchased for $30 USD with 10 activations. This is a good price for this type of product, although traders should remember that it doesn’t support fully automated trading.

Conclusion

EXP Averager was designed to monitor manual trades and to make a profit for the trader in the case of drawdown by averaging those positions. It is available for a fair price, but we were still curious as to how this product is regarded amongst users.

We found the following comments to be helpful:

“Good tool for manual traders which utilize Averaging/Grid strategy. Author very responsive!” -Evolve

“Works excellent in 90% of the time, except when you get an aggressive trend of 1000 pips against your position.” -Laurentiu

“What an amazing utility…Vladislav is very responsive as is evident from the new enhancements that keep on rolling for this utility….every trader should have this tool.” -noshali

Traders will need to ensure that they are satisfied with the fact that this isn’t a fully automated EA, and that more effort is needed on their part than what would be needed with other trading robots. If manual trading isn’t an issue, then this EA can certainly help to reduce losses incurred on the trader’s behalf.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/1289

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Forex Service Review

AngryTurtleFX Advanced Reversal Scalper EA Review

AngryTurtleFX is an Expert Advisor that was launched on the mql5 website in October of 2019. It was created by senior developer Bernard Situmeang, who provided the most recent product update to version 5.0 in November of 2019.

Overview

AngryTurtleFX is an automated reversal scalper trading robot that uses TrendDistance and TrendTiming relationships. Like many similar products, the EA works on the MT4 platform and can be used alone or with others using a magic number. Input parameters cover trailing stops, maximum spreads, slippage, take profit, and other settings that allow the trader to adjust settings to their preferred risk-management levels.

Here are a few of the EA’s highlights:

  • Works with NDD, ECN, STP, NFA regulated brokers; can be used with most brokers
  • Works with all pairs on all timeframes, including 11 exotics
  • The author recommends EURUSD, AUDUSD, USDJPY pairs on M1 and M5 timeframe
  • Works with a $10 minimum deposit

Service Cost

There are several options for renting this EA, from one month to one year:

  • $30 USD for one month
  • $60 USD for 3 months
  • $120 USD for 6 months
  • $240 USD for 1 year

The product can also be purchased outright for $750 USD and it comes with 5 standard activations. Although the total price is high, having the ability to rent the EA for $30 should make it more accessible to beginners or those that don’t have a lot to invest. It can work with a $10 deposit, but the best results are with a $100 deposit with 0.01 lots. Testing is also possible through the free demo version.

Conclusion

AngryTurtleFX is a reversal scalper that allows traders to change certain inputs that help with risk management. Although the author mentions a smart safety strategy, he doesn’t spend much time explaining more technical details about his product, and instead focuses on how well it works with multiple pairs, timeframes, brokers, etc. Sadly, there are no ratings, reviews, or comments from anyone other than the developer, so we can’t say whether this EA has been profitable for others. Considering that some risky techniques (including Martingale) are used and that the author isn’t very descriptive, we would highly recommend testing and then renting this product for one month before making a larger purchase. Also, remember that there are no alerts, so you’ll want to check often to ensure that the robot doesn’t blow through your deposit while unsupervised.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/42679

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Forex Service Review

Cryptotrader Trading Robot Review

Cryptotrader is a trading robot that automatically performs trades on cryptocurrencies. The software runs via a flexible built-in scripting language that is based on Coffeescript. Although the software was launched in 2013, some secrecy still surrounds the creator, who goes by the anonymous name “pulsecat”.

Overview

Cryptotrader was designed with the same goal of other trading robots and EAs, the robot buys low and sells high, thus earning profits for the trader. The service allows users to create their own trading strategies if desired, but doing so will require at least minimal programming knowledge and some experience. Otherwise, traders can choose from a variety of premade strategies within the Strategy Market.

We found strategies that suit both risk-takers and those that like to play it safe, so there’s something for everyone. Thirteen major cryptocurrency exchanges are supported, including Bitfinex, Bitstamp, Poloniex, Coinbase, and more. Running two bots on the same account isn’t recommended because they will compete for funds, but some exchanges will allow you to create a sub-account for this reason Whenever your bot buys or sells, you’ll get an instant notification through email, or text if that is included in your plan.

Cryptotrader offers different plans that affect the overall features you’ll have access to. All plans offer backtesting and email alerts, but only some of them offer access to multiple trading instruments and margin trading. There are also some limitations for each account that restrict the maximum amount of account equity that the bot can operate with. Installation is not necessary because Cryptotrader is a cloud-based trading bot. Traders won’t fall victim to limited storage space since downloads aren’t required and bots can run continuously at any time in the VPS cloud.

Service Cost

The cost of trading with Cryptotrader can vary, based on certain factors like account type and whether you’re planning on purchasing any strategies. A $250 deposit also needs to be deposited into the trading account to get started. Subscription packages come in Basic+, Regular, Pro, VIP, and Premium. We’ve detailed the monthly cost of each option below.

  • Basic+: From 0.0031 BTC per month
  • Regular: From 0.0044 BTC per month
  • Pro: From 0.0081 BTC per month
  • VIP: From 0.0154 BTC per month
  • Premium: From 0.0385 BTC per month

Translating roughly to USD, that comes out to around $15 per month for the cheapest plan and $200 per month for the most expensive subscription. Remember that there are some free services out there, so you’ll have to decide if you’d like to add a monthly service charge to your list of reoccurring payments. If you decide to purchase trading strategies, then this will add to the overall cost. Experienced programmers can rent or sell their own trading strategies within the Marketplace, so this could very well pay your subscription cost if you’re good at it. A backtesting tool is also available through each subscription that allows traders to test strategies in different market conditions before going live.

Conclusion

Cryptotrader aims to provide a convenient environment for automated trading. Traders are given the freedom to create their own strategies if they’re up to the task, or users can simply rent premade strategies without much of an effort. One thing to consider would be the cost, as this software does charge a monthly subscription fee and you’ll be paying extra for some premade strategies. Despite some secrecy surrounding the creator, this bot has been servicing clients smoothly for more than 7 years so far.

Other reviewers speak highly of the service, and it has received ratings of 8/10 or higher on several occasions. All sources point out that this particular trading robot is not a scam and that it follows legit practices, so there’s no reason not to invest with Cryptotrader if the cost isn’t a factor.

This Forex service can be found at the following web address: http://www.cryptotrader.org

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Forex Service Review

DAX Hero Scalper Pro EA Review

DAX Hero Scalper Pro is the professional version of the EA Dax Hero Scalper, which was previously offered on the mql5 website for free. It was created and launched in August of 2018 by the IT engineer/leisure trader Simone Gargano. The product was last updated to version 1.5 in February of 2019.

Overview

DAX Hero Scalper Pro is an Expert Advisor that uses an integrated time filter to avoid bad periods and to close open trades in other periods. Settings cover some basic parameters, like TP, SL, trailing stop, minimum and maximum lot size, whether trading should be allowed on Sunday, etc. It also offers a few parameters that allow one to place limitations on the EA, for example, the maximum spread that is allowed, max slippage allowed to open a new trade, the preferred money management method (fixed lot, lot by equity %, lot size by balance %), a specific timeframe for trading, and a few more options. Here are a couple of facts about the EA:

  • Best used with H1 timeframe or higher
  • Compatible with the impressive MetaTrader 4 platform

Described as being “simple”, the EA steers clear of riskier strategies such as Martingale or grid, while offering traders the ability to customize the aforementioned parameters. In addition, the professional version adds extra features, one of which ensures that TP and SL are accepted by the broker, as this was a previous issue, another changes the Magic Number to run multiple charts on the same timeframe or symbol, Breakeven moves the SL to the breakeven as soon as the trade is in profit, and etc.

Service Cost

Traders are only given the option to rent this product at a rate of $10 USD per month. Without the option to purchase the program outright, the cost would add up to $120 per year. In the product’s description, the author also provides a link to a similarly named DAX Hero Scalper, which was originally the free version of this product. Although it is still listed as being free in the description, it actually costs $10 USD to rent the other version for 3 months, which results in a price that is $80 cheaper per year. Backtesting is possible with a free demo account.

Conclusion

DAX Hero Scalper is a simple Expert Advisor that allows traders to place certain limitations on the way it trades so that the EA trades more cautiously. It has received 7 reviews and earned a 4-star rating based off of a couple of the following comments:

“Simple but powerful” -Cooper

“Great result at the strategy test.” -Ma

Others chose not to comment, so we don’t have much to go on, other than the decent rating. Before purchasing this professional version of the indicator, traders should compare the original DAX Hero Scalper, which follows the same concept with fewer features for a price that is $80 less per year. Of course, if you find the improvements to be necessary and worth the extra cost, then the professional version would be the best choice.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/31117

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Forex Service Review

Dragon Scalper Pro Trading Robot Review

Dragon Scalper Pro is an Expert Advisor that has been available on the mql5 marketplace since January 8th of 2020. The EA was last updated to version 1.50 in March of 2020. Its developer, Michela Russo, has also published 19 other products on the site.

Overview

Dragon Scalper Pro is an MT4-based trading robot that scans the market looking for the main trend, before entering a trade based on volatility and an “intelligent” algorithm that is designed to detect future trends.

Here are some of its features:

  • Works best with the pairs EURUSD, GBPUSD, USDCAD, and NZDUSD on the M5 timeframe, but will also work with other pairs & timeframes
  • Any trader whom purchases will receive a free copy of another EA, Eagle Scalper Pro
  • Mainly operates during NY and Asian trading sessions
  • Fifo compatible
  • High resistance to slippage

https://youtu.be/gAYq8bgjMsI

The developer recommends choosing IC Markets or Tickmill as your brokerage, although the EA is compatible with any other broker. Both of the recommended options do offer some benefits, such as high leverages, decent starting deposits, and some low trading costs.

Service Cost

Traders can buy the indicator outright for $115 USD, or rent it at a rate of $85 per month or $105 per year. The developer includes 5 activations with any purchase. In addition to paying the fee for licensing the EA, you’ll also need to make a deposit into your trading account. If you go with IC Markets, as the author suggests, you’ll be able to choose from cTrader, Raw Spread, and Standard account types, all of which are available for a $200 deposit. The other suggested brokerage, Tickmill, offers Pro and Classic accounts for $100 deposits. Since the cost of renting the EA is so high, it might be a better idea to test a free demo account and to buy it outright if you get good results.

Conclusion

Dragon Scalper Pro is a trend-following trading robot that uses market volatility and an intelligent algorithm to execute trades based on predicted future trends. It costs a good bit to rent this EA for a month, so it may be best to purchase it outright. According to other traders, the odds of making a profit using this product is likely, as 145/151 users gave it a 5-star rating.

Here’s what some traders are saying:

“Brilliant, simply brilliant. The best EA I have ever used. Keep up the good work. The EA more than pays for itself.” -bennieblue

“The Robot shows very good results, with minimal drawdown. On the M1 timeframe, Scalper does not make negative transactions in 2020. Very good work.” -rsiaat

“Finding trends and trading true breaks outs is not easy, Thanks for helping the MQL5 community with this great tech” -mav1

After checking out all of the positive reviews, it’s pretty safe to say that this EA is a reliable choice. It is compatible with multiple timeframes, pairs, etc., but likely works best when the author’s recommendations are followed. As long as you practice effective risk management and exercise caution deviating from its intended use, then this EA has the potential to be very profitable.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/45197

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Forex Service Review

EN T60 Pro Expert Advisor Review

EN T60 Pro is an Expert Advisor that was launched on the mql5 website in April of 2015 by developer Alfredo Antonetti. It currently remains as version 1.0 with no updates.

Overview

EN T60 Pro is an automated trading robot that uses a scalping strategy with some prevention methods that help to avoid losses, including a close trailing stop to protect each trade, banning the use of risky strategies like Martingale, Antimartingale, hedging, stop & reverse, etc.

Here are a few more key facts about the EA:

  • Works on the popular MetaTrader 4 platform
  • Works with all pairs; EURUSD, EURJPY, AUDUSD, GBPUSD, USDCAD, and USDJPY provide best results
  • Only works with M5 timeframe

The EA will not perform any trade with assets that have a spread greater than 2 pips. While the pairs that provide the best results typically have lower spreads, it is still important to find a low-spread broker, ideally one that does not apply commissions. This is possible, but it may take some effort to find a competitive broker that meets these guidelines.

Service Cost

Traders can start with a free demo version of the product, or rent the full version for $22.50 for 6 months. The lack of the option to purchase it outright isn’t the best choice economically; however, traders will only wind up paying $45 for an entire year, while many similar products cost $100 or more. You’ll also need a low-spread broker, as this is absolutely necessary for the advisor to function. If you have a larger deposit, then this won’t be difficult, but those that don’t have a lot to start with may need to research options to the most competitive spreads.

Conclusion

EN T60 Pro is a scalping-based EA that works best with low-spread pairs on the M5 timeframe. The robot avoids using risky strategies and protects orders against losses with a close trailing stop. While the product remains unrated, it has received one review:

“I’m sorry to say it, but the EA “EN T60 PRO” doesn’t work in my opinion, I’ve tried it in several Brokers, (also ECN) in BackTest it works wonderfully, in Real it’s a disaster, I will also have spent little of this EA, but I am convinced that I threw away the few €uro spent” -Oscar

In the comments section, we noticed that several traders requested a link to myfxbook to prove that the EA was not a scam, but the author ignored many of these requests and never added the link as promised. You’ll want to use this EA at your own risk, and remember that backtest results may not be indicative of real results if the trader that reviewed the product is correct.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/9164

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Forex Service Review

Wizard Pro Multi-Pair Hedge EA Review

Wizard Pro is located on the MQL5 marketplace under the Expert heading. It was uploaded by Uladzislau Murauyou and was first uploaded to the marketplace on the 1st of April 2020, it was uploaded as version 18.0 and has not received any updates.

Overview

Wizard Pro is an expert advisor that was designed and created for the MetaTrader 4 trading platform, its main purpose is to act as a multipair hedge EA which also uses averaging. It will use three cycles to catch trends and will then secure funds by using non-correlated pairs.

The following information was provided by the developer:

Backtests results of any trading system do not necessarily guarantee a similar result in the future.

Wizard Pro EA requires a minimum of $2500 on your trading account. If you have less than the recommended amount, please use a cent account.

EA requires constantly working 24/5 trading platform. It means that you should use it on a dedicated server.

EA requires constant and fast internet connection. It means that your dedicated server must be connected to the fast internet provider and should be located closer to your broker’s datacenter.

The EA is best used with the AUDUAD, EURGBP, NZDCAD, and USDJPY currency pairs, it should also be used on the H1 timeframe.

Service Cost

The expert advisor can be purchased with a one-time payment of $600, this will give you up to 5 activations of the EA with no other limitations. It can also be rented, this can be done on a monthly period dor $250 per month or over a three-month period which will cost $350 for the three months.

A free demo version is available to sue, but this is limited to being used with the strategy tester within MT4 rather than on a live account.

Conclusion

As the EA was only recently uploaded to the marketplace, there are currently no reviews or ratings about the EA, this makes it hard for us to know whether people are finding it profitable and whether it does what it is intended to do. There are also no comments so we would suggest contacting the developer with any questions that you may have, this way you can be sure that the EA will function how you need it to and that the developer will be around to offer support should you need it.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47898

Categories
Forex Service Review

VR Smart Grid Multi-functional Expert Advisor Review

The VR Smart Grid can be found in the Experts section of the MQL5 marketplace. We have added a link to it below. The expert advisor was created by Vladimir Pastushak and was first uploaded on the 27th of March 2018, it has been updated a number of times and was last updated on the 13th of February 2020, the latest version is 20.27.

Overview

The VR Smart Grid is an expert advisor that can be used with both the MetaTrader 4 and MetaTrader 5 trading terminals, the way that the expert advisor works is by using an algorithm that will allow you to trade with the trend and also against the trend. The expert advisor will trade with the trend when the previous order is already in the profit zone, it will trade against the trend in order to close losing positions in profit.

Some of the main features of the VR Smart Grid expert advisor are:

  • Easy to set up.
  • Suitable for beginners and professionals.
  • It can work with any financial instruments. (Forex, Crypto, CFD, Futures, Metals).
  • It can be optimized in the strategy tester.
  • It can trade at any time period.
  • It has several trading modes.
  • It has several averaging modes, including smart averaging.
  • It has several types of trailing stops.

Two versions of Expert Advisor for MetaTrader 4 and MetaTrader 5 have been developed. There are a large number of settings available however the list of them is not shown on the site, there are some recommendations that you should follow when using this expert advisor.

Conduct testing in conditions as close to real. Use demo accounts for tests. Test at least 2-4 business weeks. For quality and reliable testing, use VPS servers whenever possible.
The program settings allow you to run several copies of the adviser in one terminal, use this feature. Testing the adviser in the strategy tester will not give you guarantees and reliable good results. Do not leave the advisor on 24/7, always monitor the work of the adviser and, if necessary, adjust the setting.

Service Cost

You can purchase the expert advisor with a one-off purchase of $199, this will give you unlimited and restriction-free access. You are also able to rent the software, for a 3 month period it will cost you $30, for 6 months it will cost you $50, and to rent it for one year it will cost you $100. The site indicates that there is a free version available but the limitations or features of the demo version are not stated.

Conclusion

There are a massive 163 reviews at the time of writing which have given the expert advisor an overall rating of 4.5 out of 5.

“Honestly, this is the best EA I have been seeing in the market so far. It’s very stable and profitable. I have been using this expert adviser for three months now, and it generates steady and concise profits. I highly recommend it to everyone. I thank the developer for a great job, well done.” – A 5-star review.

”I’ve blown my account today (on EURUSD drop) after three weeks trading on Live. However, I leave a 4-star rating cause I think the EA just did what it’s been told. Although I have tested the EA on several demos with several settings, I think that I needed to learn more about the EA’s setting and parameter. I would recommend people get a lot of confidence of how this EA works before hitting the road. I will continue my learning on a demo account and maybe I will come back to the EA again.” – A 4-star review.

“I want to love this EA, but it has blown half of my account twice now. It will randomly take a trade that’s 60 times bigger lot size than others, and then I wake up to half my account gone. I used the developers set files for each pair. Very dangerous EA. Not recommended by me. I brought this to the developer’s attention and his response was just “Very strange! I also use these settings! But I have everything ok! Orders like yours closed with profit!” That response does not help resolve bad coding.” – a 1-star review.

So there is a mix of reviews, this is expected when using a grid-based expert advisor as they can easily blow accounts, there are also over 3,000 comments, the creator has responded to some of them but there are too many to reply to them all, we hope that the customer service once it has been purchased would get more responses. Due to its price, we would recommend contacting the seller to ask for a more comprehensive demo version so you can test it out to ensure that it meets your needs before making a purchase.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/28140

Categories
Forex Service Review

Trend Scalp Expert Advisor Review

Trend Scalp is currently located on the MQL5 marketplace under the Experts heading. It was uploaded to the marketplace by Dimitry Shutov, it was uploaded on the 22nd of March 2020, it was uploaded to the marketplace as version 1.3, there have not been any additional updates to the software.

Overview

The Trend scalp EA was created to be used with the Metatrader 4 trading platform, it is an automated trading system that is suitable for multicurrency trading. The EA uses the martingale strategy which means that it can be quite dangerous and drawdowns could be high, even though the details suggest that it will not have high drawdowns.

The details suggest that it can be used with a small balance, but often the martingale strategy works best with larger size accounts, although no size of the account is immune to blowing with this strategy. The EA will place a buy or sell, there is no indication of any analysis, so it may just place one randomly, it will then take profits if it goes positive, or if it runs into the negatives, it will place additional trades at an increased lot size in order to try and average out into profit.

The recommended settings to use with this EA include starting lot sizes of 0.01 lots, with a profit selection of 10, step increments of 0.002, and a martingale multiplier of 1.2.

There are some parameters that come with the EA, these include the profit value, when a trade reaches this level it will close, the size of the steps to take between orders, lot sizes to use, and different settings for the martingale strategy.

Service Cost

The Trend scalp will cost you $100 to purchase it, this is a one time purchase that gets you up to 15 activations of the software. If you would prefer to rent the EA, this can be done on a six-month basis and will cost you $45 to rent it this way. There is a free demo version available, it can only be used with the strategy tester within the M4 platform rather than on a live account.

Conclusion

At the time of writing, there were no user-written reviews or ratings available, this is a shame as it means that we do not know whether those that have purchased or rented the Ea are finding it profitable and safe. There are also no comments available so the support being offered is another unknown. You could send your questions and queries to the developer to make sure that it is something that will work for you and that the developer is still around to offer support.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47511

Categories
Forex Service Review

Strx Trendline Break and Bounce Trader Review

Strx Trendline Break and Bounce Trader can be found on the MT4 marketplace under the Utilities heading. We have provided you with a direct link to the expert advisor below. The expert advisor was created by Francesco Strappini and first uploaded on the 2ns of March 2018, it received its most recent update on the 6th of March 2018 and is currently at version 1.10.

Overview

Strx Trendline Break and Bounce Trader is an expert advisor that has been created for the MetaTrader 4 trading platform, it allows you to draw your own trendlines or horizontal lines, the EA will then trade for you.

The main features of the expert advisor:

  • Possibility to trade on break and/or bounce events
  • Independent break and bounce settings
  • Configurable market, stop and limit orders
  • T1T2 Logic to lock profits and minimize losses
  • Trailing Stop Loss
  • Max Spread check
  • Notifies you when your trendlines are crossed

No strange trendline name or syntax, you decide the color of trendlines to monitor and EA open trades for you or only notify you as soon as they are crossed. There is a multitude of options and settings available, some of them include the trendline colors, breakout order types, bonce order types, trailing stop losses, max spreads, pending orders, magic numbers, and many more options are also available.

Service Cost

The expert advisor will currently cost you $30 to purchase outright, there is also an option to rent the indicator this will cost you $15 in order to use it for 6 months. There is also a free demo version, this version will have plenty of limitations, what they are is not mentioned on the site but we know that there will be some.

Conclusion

There aren’t any reviews or comments for the expert advisor, so we do not know whether the people who are using it are finding that it does what it is meant to or working at all, however, if it wasn’t working there would probably be some angry reviews present. Due to there being no reviews, we would strongly suggest that you try out the free version and also send any queries to the developer so you can be sure that the expert advisor is right for you before you make a purchase.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/27093

Categories
Forex Service Review

Sophia Pro FX EA Review

Sophia PRO can be found within the MQL5 Marketplace under the Experts heading. It was created by Angel Caller Cruz and was first uploaded on the 1st of April 2020, it has not received any updates and is still at version 1.0.

Overview

Sophie PRO is an expert advisor that was created to be used with the <EtaTrader 4 trading platform. The EA is able to work with up to 28 currency pairs including EURUSD, GBPUSD, GBPJPY, EURGBP, CADJPY, as well as Gold.

The sire does not actually state how the EA functions, it just mentions that it can trade using baskets, direct, Fibonacci, Alembert, or inverse styles of trading. There are a few different settings available such as lot sizes and maximum lot size, however not a lot of other information is available.

Service Cost

The expert advisor will currently cost you $899 to purchase outright, this will give you up to 5 activations with no other limitations. You are also given the opportunity to rent the EA, this can be done on a monthly basis and will cost you $299 per month to do. A free demo version is available, we suspect that this can only be used with the strategy tester within MT4.

Conclusion

There are not any reviews or ratings for the EA which means we cannot tell whether it is doing what it is meant to do and how people that are using it are finding it. There are some comments from the developer themself but none from other customers. The comments are recent so it should still be supported, we would suggest sending any queries you have to he developer to ensure that they will be around to offer support should you decide to make a purchase or a rental.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47783

Categories
Forex Service Review

Samurai Scalper Pro Series EUR/USD EA Review

The Samurai Scalper Pro Series EURUSD is an expert advisor for MetaTrader 4 that can be found in the MQL5 marketplace. While the name is quite unique, we have provided a link below just so there is no confusion as to which expert advisor we are talking about. The original version was released back on the 14th of January 2019, there have been multiple updates, the most recent (at the time of writing) was on the 7th of March 2020 and this updated the expert advisor to version 14.99.

Overview

The Samurai Scalper Pro Series EURUSD is designed to be used on the MetaTrader 4 (MT4) trading platform. The way that the expert advisor works is that it uses statistical analysis on the EURUSD pair over the past 20 years in order to determine the best points of entry and exit on that single market. Its base is based on the MACD indicator along with other trend indicators, there have been a number of tests performed based on actual data from a number of different brokerage services.

The expert adviser can only be used on the EURUSD pair and on the 5-minute timeframe. There are a number of different settings that can be altered such as max slippage, max spreads, whether it should be moderate, aggressive, or very aggressive. You can also choose to have take profit levels or trailing stops, whether it should consider swaps and commissions, automatic lot-size changes, maximum risk, and much more, so it is highly customizable.

Service Cost

The expert advisor costs $169 in order to purchase, if you do not want o buy it, you can rent it for three months which will cost you $99 for every three months that you wish to use it. There is also a free demo version of the expert advisor available but we do not know if there are any limitations to this free version or whether or not there is a time limit on the demo version.

Conclusion

There are 27 different reviews available, the average rating from all of these reviews is 4.5 stars out of 5.

“I decided to buy this expert because I saw the results in real in the account of a friend who bought it last year. After seeing the results in real compared with the backtest I think he is an excellent expert. Probably due to the difficult market in this period, even this expert may have difficulties. Congratulations to the programmer for the work he is doing.” – A 5-star review.

“This EA like other EAs failed during extreme market conditions.” – A 1-star review.

“Has got to be one of the safest EA’s out there! Truly happy that I stumbled across Samurai Scalper.” – A 5-star review.

As always we would recommend checking out the free version just to make sure that it does in fact have the functionality that you want and need.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/34527

Categories
Forex Service Review

RushFx Forex EA Review

RushFX can be found within the MQL5 marketplace under the Experts section, it was uploaded on the 4th of November 2016 by its creator Sergei Listov, it was originally uploaded to the MQL5 marketplace as version 1.59 and has not received any further updates.

Overview

RushFx is an expert advisor that can be sued with the MetaTrader 4 trading platform. It was designed to track and trade trend changes within the markets. It will use an algorithm to find the trend on multiple different timeframes in order to get a better idea of exactly what the trend is.

The RuskFx expert advisor can run in a number of ways.

Single currency – the EA will trade the currency pair of the chart it is running on.

Multi-currency – trades all pairs of the embedded array, which includes: EURUSD, AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPUSD, NZDJPY, NZDUSD, USDCAD, USDCHF, USDDKK, USDJPY, USDNOK, USDSEK, USDSGD, XAUUSD. In this case, the EA should be run on one chart only.

There are a number of configurable parameters also, some of these include magic numbers, trailing stops, which symbols to trade, stop losses, take profits, lot sizes, dynamic lots, currency amounts, and more.

Service Cost

The expert advisor can be purchased with a one-off payment of $100, this will give you up to 5 activations of the software. You are also able to rent it, you can do this on a monthly basis which will cost you $20 per month, for three months it will cost you $30, for six months it will cost you $40 and for a one year period it will cost you $60 per year.

There is a free demo version, but this may only be used with the strategy tester withing MetaTrader 4. While very limited, it may still be worth downloading to test it out prior to making purchase or rental.

Conclusion

Unfortunately, there aren’t any user reviews for us to look at which means we cannot tell you whether most users are finding that it does what it was designed to do. There is a comment, the developer quickly replied to it with an answer, this was 4 years ago and there have not been any comments since so we are not sure if it is still being actively supported. We would suggest trying the free version as well as sending any questions to the creator, this way you can be sure that it is still being supported by them and that it will do what you nee dit to do before you put your money down with a purchase or a rental.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/18765

Categories
Forex Service Review

Multi Strategist Expert Advisor Review

The Multi Strategist is an expert advisor that can be found on the MQL5 website, we have linked it below so there is not any confusion with similarly named expert advisors. The current version of this expert advisor is version 4.203 and was last updated on March 13, 2020 (at the time of writing this review).

Overview

The Multi Strategies expert advisor is a fully automated multi-currency expert advisor. The system currently only works with the EURUSD and GBPUSD currency pairs so it can be a little limiting. The expert advisor was created in order to achieve profits by trading with low drawdown and high win rates. The EA uses multiple different strategies to ensure that only the best entry and exit positions are used. It is also highly customizable so you can change the indications used as well as the parameters in order to develop a strategy that works for you.

The strategy uses a number of different bits of technical analysis including:

  • Moving Averages
  • Pivot Points (Standard or Fibonacci)
  • Retracements
  • Stochastic Oscillator
  • Directional Movement Index (DMI) & Average Directional Index (ADX)
  • Alligator
  • Momentum
  • Relative Strength Index (RSI)
  • Moving Average Convergence/Divergence (MACD)
  • Williams Percent Range (WPR)

There is a whole host of settings also available including, magic numbers, different trading modes, a handguard, risk management, trailing settings, partial close settings, the ability to close everything on a Friday, multiple filters, and more.

The expert advisor has been designed to work with MetaTrader 5, we do not think that it is compatible with any other trading platforms as nothing else has been mentioned.

Service Cost

The Multi Strategist currently costs $219, however, there are regular sales where you can get $10 or $20 off. You are also able to rent the expert advisor, for 6 months it will cost you $149, while you can also rent it for one year for $199.00, but you may as well buy it outright instead of paying slightly less for just years use. There is also a demo version available. However, we are not sure exactly which features are available or how long this demo will last.

Conclusion

There are 17 different reviews on the website, the overall opinion seems to be very positive. Some of the reviews include:

“Recently purchased this EA, so far so good, has very good risk management compared to other EA’s. Profitable so far.”

“This EA is intriguing. Very well developed and thought through. A fine piece of German engineering. Julian responds instantly and is eager to answer all my questions to my satisfaction. He constantly tests and perfectionates the EA’s performance and implements improvements and meaningful customer requests. I can feel that he puts all his heart into his work. Highly recommended EA and author.”

“Solid EA…author is continuously working on making it even better. Backtests and demo producing results as advertised.”

These are all very positive reviews. However, we would always recommend giving the demo a try, just to make sure that the expert advisor works for you.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/42084

Categories
Forex Service Review

Momentum Classic EA Review

Momentum Classic can be viewed within the Experts section of the MQL5 website, we have added a link to ti below as there may be others with similar names. The expert advisor was created by Ivan Pochta and was first uploaded to the MQL5 marketplace on the 20th of November 2018. It has received a number of updates, the latest update was on the 27th of January 2020 and this brought the expert advisor up to 3.2.

Overview

Momentum Classic is an expert advisor that works with MetaTrader 4, it is a completely automated expert advisor nad works by looking for impulses in the market which will signal a trade entry. It will only open trades in the direction of the impulse and trade and will not place reverse trades, it is built on price action principles and is measuring the strength of momentum and not only the deviation and volatility.

The expert advisor has been designed to work with the following pairs and timeframes:

M15: AUDUSD, EURAUD, EURGBP, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDUSD, USDCHF, USDJPY, XAUUSD.

M30: AUDUSD, EURAUD, EURGBP, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDUSD, USDCHF, USDJPY, XAUUSD.

H1: AUDUSD, EURAUD, EURGBP, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDUSD, USDCHF, USDJPY, XAUUSD.

There are also a number of parameters available to alter to better suit your needs, some of these include adding a comment, using fixed lots or not, to set risk level, money management, supported currency pairs, timeframes, suffixes, prefixes, and more.

Service Cost

The expert advisor is currently on sale and can be purchased for $400, its normal price is above this but we do not know what it is. The expert advisor can also be rented for different periods of time. To rent it for 1 month it will cost you $75 per month, for three months it will cost you $150, and for one year it will cost you $250. There is a free version available too, this has some limitations however we are not fully clear on what the limitations are.

Conclusion

At the time of writing, there are currently 29 reviews for this expert advisor, they are giving it an overall rating of 4.5 out of 5.

“The separation between entering and leaving positions by brokers is severe. So both the backtest and the forward test must be the tests of the broker that you use. The number of positions fluctuates from 1 to 4 and the SL value changes every time, so it is difficult to manage risk. In addition, one entry has up to four positions, so if you consider it as one position, the number of entries is not large. However, since the profit is increasing, the star is 3.” – A 3-star review.

“This EA is very good, and the author is very helpful, thank you for your good job.” – A 5-star review.

“I think that Ivan is a good developer and I encourage him to continue with the good work. I trust his EA and I think I will use them for the future.” – A 5-star review.

So the reviews are looking very positive, there are also over 200 comments, the creator of the expert advisor is replying to each one which indicates that there will be some good customer support once the expert advisor has been purchased or rented, we would, however, recommend that you download and try out the free version before making a purchase just to make sure it works for you and suits your needs.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/25517

Categories
Forex Service Review

Crocodile Trader Pro Trading Robot Review

Crocodile Trader Pro is located within the Experts section of the MQL45 marketplace, it was first uploaded on the 6th of AMrch 2020 by its developer Michela Russo, it was most recently updated on the 2nd of April 2020 and is currently at version 1.5.

Overview

Crocodile Trader Pro is an expert advisor that was developed for the MetaTrader 4 trading platform, it was created to trade a number of different strategies, ultimately though, it is a trend-following EA. The EA does not use arbitrage or high-frequency trading strategies.

The actual strategy that the EA will use is not detailed, it simply states that it will use various strategies to follow the trends. However, it does not detail what the strategies that it will use actually are which is a little strange and potentially deceiving. All that we do know is that it will analyze the markets using obsolete indicators and patterns, it will do this in order to try and find the trend in the markets. Once a trend has been discovered it will use market volatility and an artificial intelligence algorithm to predict the future trend and will then enter the markets.

https://youtu.be/d1KpT97cjzQ

It has been recommended to use the EA on the EURUSD, GBPUSd, and USDCAd currency pairs and to sue the M1 timeframe. You should use an account with at least a balance of $1000 and a broker account with low speeds such as an ECN or STP account.

The EA also comes with a number of parameters, these can help alter the EA to better suit your own requirements. Some of the available options include the lot size, risk to use for each trade, the RSI periods, magic numbers, which days to trade, how many open orders to have at any one time, the take profit settings, maximum monetary losses, trade comments, news filters and more.

Service Cost

The Crocodile Trader Pro EA can be purchased from the MQL5 marketplace for a one-off payment of $180, this gets you up to 5 activations with no other limitations attached to it. There is also the option to rent the EA, this can be done on a monthly basis and will cost $100 per month, it can also be rented for a year, this will cost you $150 for the years usage.

A free demo version is also available, this is limited to the strategy tester within the MT4 platform and can not be sued on a live account.

Conclusion

There are currently 10 user reviews for the Crocodile Trader Pro EA,m they have given it an overall rating of 10 out of 10.

“The tester has good results even with aggressive settings. Now put it on a nano-account and see how long it lasts. Plus a quick response from the support service. 5 stars.” – A 5-star review.

“Purchased the product. Looks very promising in backtests. We will see over time how it performs! The developer is responsive and helpful Update:- Made 10 USD profit since yesterday on 0.01 lot size on all 3 currency pairs. So far looking good in such turbulent market. Let’s see over time !“ – A 5-star review.

“Good in real trading, but you must be very careful with risks. Great support! Helps quickly.” – A 5-star review.

So the reviews are all very positive which is good to see, the comments within the reviews are all praising the support that they have been receiving from the developer which is fantastic as this shows that if you purchase or rent the EA, you will be able to get support form the developer to get it set up and to help solve any issues that you may have. The comment section also reiterates this as the developer has been replying to all the comments in a very prompt manner.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47007

Categories
Forex Service Review

MTrendingEAv2 for GBP/CAD Review

MTrendingEAv2 is located within the Experts category of the MQL5 marketplace, it was created by Chu Hai Ha and was uploaded to the marketplace on the 15th of March 2020, it was uploaded to the marketplace as version 2.0.

Overview

MTrendingEAv2 is an expert advisor that was designed to be used with the MetaTrader 4 trading platform, it doesn’t actually detail what the EA does or how it functions, the only information is that it will trade along with the trend, but no details about how it will work out the trend or the entry and exit points.

The EA has been designed to only work with the GBPCAD currency pair so you should not attach it to any other currency pair, it will also run using only the H1 or D1 timeframes, using it on another timeframe can cause the settings to not function properly and trades may be opened when the conditions are not optimal. Each trade is opened with a pre-determined stop loss and take profit level set, it also has the option to use trailing stops. The EA uses medium to long term trades and does not scalp or news trade.

The EA also comes with a few settings, there aren’t many but altering them can change the way that the EA works. Some of the options included are the amount of risk per trade, the initial account balance, the current broker that you are using, the maximum spread allowed, the maximum lot size to use, and whether to show the account information.

Some noted s from the creator of the EA:

-Please use for Broker with low spread.

-Should be run on a VPS to allow EA 24h/24h finding entry.

-EA opens very little trade (not every day), doesn’t occupy much account margin, and with its Low Drawdown, so you can dedicate it to a separate trading account and manage its fund to have the highest return/profit.

-When run tester (if any), turn off “Show Account Information” to have higher test speed.

Service Cost

The developer has set the payment structure for the Ea up to try and persuade people to rent it rather than purchasing it If you wished to purchase it outright, it will cost you $990 to do so which gets you up to 5 activations of the EA. If you prefer to rent the EA, you can do this on a three-month basis which will cost you $45 for that time period, for six months it will cost you $80 and for a one-year rental, it will cost you $150.

A free demo version is available to sue, but this is limited to only being used with the strategy tester within the MT4 trading platform and cannot be tested on a live account.

Conclusion

At the time of writing, there were no user reviews or ratings so it is not known whether people are finding it useful or profitable, there are also no comments so the sort of support being offered cannot be observed. Due to both of this reasons, we would strongly suggest that you try to contact the developer with any questions that you may have so you can be sure that they will be around to offer support and that the EA will function how you need it to before you make a purchase or rental.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47220

Categories
Forex Service Review

Momentum Open Automatic Trading EA Review

Momentum Open is currently located on the MQL5 marketplace under the Experts category. It was first uploaded by Ivan Pochta on the 17th of December 2019, it has had a few updates, the most recent update was on the 19th of March 2020 and it is currently at version 1.2.

Overview

Designed for the MetaTrader 4 platform, Momentum Open is a completely automated expert advisor. It will look for impulses and bursts of movement within the market and it will use these to signal the start of a trend in the markets, so it has been built around price action principles.

The EA will open trades automatically and will only open them in the same direction as the market is trending, it does not open reverse trades. The EA also does not use Martingale, Grid, Averaging, Scalping, or Hedge methods of trading.

Momentum Open has been optimized for the following timeframes and currencies:

M15: AUDUSD, EURAUD, EURGBP, EURNZD, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDUSD, USDCHF, USDJPY, XAUUSD.

M30: AUDUSD, EURAUD, EURGBP, EURNZD, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDUSD, USDCHF, USDJPY, XAUUSD.

H1: AUDUSD, EURAUD, EURGBP, EURNZD, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDUSD, USDCHF, USDJPY, XAUUSD.

There is also a range of different parameters available, they include things like comments, slippage, magic numbers, lot sizes, Bollinger Bands, Fibonacci levels, timeframes, ATR periods, RSI periods, days to trade, time to trade, and more.

Service Cost

Momentum Open is currently having a sale, you can purchase it with a one-off payment of $600, this is a discounted price, once enough copies are sold it will go up to $75, we do not know what its original price it but it may well be the $750 that it will go back up to, this version will not have any limitations attached to it. There is also no option to rent this expert advisor.

A free demo version is available, however, the limitations of the free version are not mentioned on the site, it may well be worth downloading to test anyway due to the high purchase price.

Conclusion

There are just two reviews for the Momentum Open expert advisor, the combined score from the two reviews is 4.5 out of 5.

“I have good results, stable and low risk. I love the way of Open version, users can add new pairs to trade, re-optimized by themselves. for now, I do not add any new pair and use Ivan’s presets, but who knows one day if this presets not work, At least I can re-optimized and manage a portfolio.” – A 5-star review.

“I just tried it the very low DD 2.9% for 10% return from 2017 to 2020. But what really made me gave the 4 star is the coding that makes the backtest and Optimization really fast and that saves a lot of time.” – A 4-star review.

Both the reviews are very positive, there are 8 comments within the comment section but each one is from the developer giving a little update, the most recent update was on the 19th of March 2020 which shows that the developer is still actively supporting the EA. Due to the high price, be sure to try out the free version and contact the developer with any queries that you may have before making a purchase, just to make sure it is right for you.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/44547

Categories
Forex Service Review

MagicSignals EA Review

MagicSignls EA can be found on the MQL5 marketplace under the Experts category. We have provided a link below as there may be other expert advisors with similar names. The expert advisor was first uploaded by its creator Ola Said Abd Elghafar on the 28th of October 2015, it has had a number of updates, the most recent update for the advisor was on the 15th of December 2019 and this brought the expert advisors version up to version 6.8.

Overview

The MagicSignals EA is an expert advisor for use with MetaTrader 4, it uses its own algorithms to open trades, the system also comes with a money management system. The main input is the risk, once you put it in the EA will do the rest of the work for you.,

The main features of the expert advisor:

  • No Martingale or grid.
  • Always use stop loss to protect capital.
  • User-friendly.
  • Works for ALL years SINCE 1999 with one setting
  • Very good Risk/Reward ratio.
  • Works on all brokers.
  • Never need to optimize
  • Can be used on accounts as small as 100$

There are also some recommended parameters to use, you can, of course, change any of them to more suit your own style:

  • MaxLots = 1000
  • UseMM= TRUE
  • Risk = 10
  • BrokerSpread = Set spread not over than
  • Spread = 5.0
  • slippage_1 = 3

Service Cost

The MagicSignals EA is a rather expensive one, to purchase it outright it will cost you $30,000 which is a lot. There are options to rent it, but they are just as expensive, it will cost you $1,800 to rent it for one month, it will also cost you $3,000 for three moth,s $6,000 for six months or $10,000 for a one-year rental.

There is also a free demo version available but the site does not indicate what the limitations of this free verso nare so we do not know how beneficial the free version would be.

Conclusion

There are three reviews, however only one of them is an actual review and gives a rating, it has given the EA a rating of 5 out of 5.

“It’s very good ea thanks for you” – A 5-star review.

So not a lot to go on with the reviews, the developer has been replying to comments, although there have not been any for a while so we are not sure if they are still giving good quality customer service. Due to the lower number of reviews and lack of recent comments, we would suggest trying out the free version. Also, you should contact the developer with any queries, due to its high price, you should ensure that it is right for you before making a purchase or rental.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/12319

Categories
Forex Service Review

ForexMonster EUR/USD EA Review

ForexMonster Eurusd H1 is located under the Experts category of the MQL5 marketplace, it was created by Raphael Schwietering and was first uploaded to the marketplace on the 22nd of March 2020, there have been no updates so far, so the software is still at version 1.0.

Overview

ForexMonster Eurusd H1 is an expert advisor that was designed to be used with the MetaTrader 4 trading platform, there is not actually a lot of information about the EA which is a shame, the only information readily available is the fact that it is a fully automated trading system that does not use a grid, martingale, arbitrage, or tick scalping as its methods. We do not actually know what the methods are.

There are some additional features that come with the ForexMonster Eurusd H1 EA, these include working with 4 or 5 digit brokers, 5 types of money management including fixed lots and percentages, adjustable trading times, it has a spread filter, an equity stop functions, offers drawdown protection, takes profit bracket functions, to stop trading once take profit or stop loss target is reached, fast buttons for order types, an information panel, and an advanced algorithm for entering the exiting the markets.

There are also some parameters and settings that come with the EA which allows you to alter its functions. Some of these inputs include showing the information panel, magic numbers, lot sizes, risk management settings, take profit and stop loss goals, maximum spreads, slippage, minimum equity, and many more. Considering we do not know what the trading strategy used by the EA is, adjusting these settings is a little bit like getting dressed in the dark, you won’t know what it will come out doing.

Service Cost

The ForexMonster Eurusd H1 EA can be purchased with a single payment of $349, this will get you up to 50 activations of the EA with no other limitations, there is also the option to ren the EA. This can be done on a yearly basis and will cost you $199 per year, slightly less than this developer’s other EAs on the marketplace. A free demo version is also available, this can be used with the strategy tester within the MetaTrader 4 trading platform.

Conclusion

It is hard for us to get the full picture of this EA because unfortunately, there are currently no user reviews or ratings so we do not know whether people are finding the EA profitable or whether it is doing what it is intended to do, there are also no comments from users so we do not know if the developer is offering support, due to this we would suggest contacting them, just to make sure they will be there should you decide to get the EA and then need some support.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47528

Categories
Forex Service Review

Control Adora (Spanish Controller) FX EA Review

Control Adora is a utility that can be found on the MQL5 marketplace, we have added a link to it below. The utility was uploaded by Sergio D. Rocha on the 14th of May 2014 and has had a few different updates, the most recent update was on the 26th of August 2015, this brought the software up to version 4.9.

Overview

Control Adora is a control panel that has been designed for the MetaTrader 4 trading platform in the form of an expert advisor. The control panel gives you a lot of options on how you are able to control your trading.

Some of its functions:

  • Close trades when they cross a trend line.
  • Take profits when the price reaches the top of a channel.
  • Calculate loss percentages when opening a trade.
  • Divide a trade into multiple entries.
  • Activate stop closes.
  • Open buttons with buy and sell buttons.
  • Calculate the risk and profit of a trading signal.
  • Manage own trades and also any existing trades on the platform.
  • And more.

So there are a lot of things that the control panel can do, it also has a number of settings that can alter the way it works to better suit your own needs and strategies. These include things like colors, button functionality, price distances, maximum, minimus, and many more.

Service Cost

The Control Adora utility can be purchased for $65, this will give you unlimited access to it. Many pieces of software on the MQL5 marketplace offer the option to rent it for a shorter period of time, Control Adora, unfortunately, does not offer this option. There is a free version available, this will come with some limitations but we are currently not sure what the limitations are.

Conclusion

There are 7 reviews available for Control Adora and they are giving it an overall rating off 4.5 out of 5 which is a very good score to have.

“This tool is very dangerous. Open looped operations up to the account limit. At first, it seemed like a problem with my Renko charts (offline chart), but now a simple M5 chart has passed me again. I will not use it anymore because it does not give me confidence. Luckily, the tests were in the demo.” – A 1-star review, Google translated from Spanish.

“Excellent tool that greatly helps the trader to manage all their operations. Congratulations.“ – A 5-star review

“Fantastic tool that helps you in the placement and management of the position. It has a lot of variables to operate according to the particular way of each trader. It is made by a professional trader, therefore it collects everything you need, and if not he solves it for you. Very accessible and efficient colleague. Thanks for everything Sergio“ – A 5-star review, Google translated from Spanish.

So there is a mix of good and bad reviews, the majority are all very positive. There are also a number of comments, the creator seems to be replying to them in a prompt manner, although they were from a while ago. Even though the majority of the reviews are very positive, we would highly recommend that you download and test out the free version to enable you to make sure that it works for you and that you are able to get it set up correctly.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/4158

Categories
Forex Service Review

CCI Commodity Channel Index EA Review

The CCI EA is an expert advisor that can be found on the QUIVOfx website, there are three versions of the expert advisor available, the basic, advanced and pro, each one is currently on version 1.05 of the software. As there are many expert advisors with very similar names, we have added a link to the expert advisor below.

Overview

The CCI expert advisor is designed t use the commodity channel index in order to open up a trade. It uses two different strategies, the break-in, and the breakout. For the break-in strategy, the EA will open up a trade if the CCI levels break into the oversold or overbought level. The break out strategy will open up a trade if the CCI level breaks out of the oversold or overbought level.

The expert advisor only works with MetaTrader 4 and there is mention of a different version (not for MetaTrader 4) but no actual information on this page, the different versions (basic, advanced, and pro) come with slightly different features.

The basic version comes with a money management system, the ability to trade on a new bar, an inverse strategy, and it has two different entry strategies.

The advanced version comes with everything tat the basic version does, as well as the ability to use a trailing stop, a break-even system, spread filters, an MA trend filter, and the ability to select how many trades per bar, and an exit strategy.

The Pro version comes with everything that the basic and advanced versions do as well as the martingale strategy, candle trail, ATR trails, a day/time filter, the ability to reverse on opposite signals, and a trade direction feature.

Service Cost

The three different versions have slightly different prices, the basic version is actually free to use, and so this can be used as a kind of demo to test out the expert advisor, the advanced version costs CHF 29.90 while the pro version currently costs CHF 39.90. There is not a demo version of the advanced or pro features of the expert advisor.

Conclusion

There aren’t any written reviews available for us to loke at, the only information that we have available is a rating system, there are currently 102 different votes and this has given the expert advisor a rating of 3.5/5 stars which is not a terrible score and shows that the expert advisor has been working for the majority of people, however, its effectiveness is not made fully aware to us.

This Forex service can be found at the following web address: https://quivofx.com/expert-advisor/cci-ea

Categories
Forex Service Review

FX Bridge Expert Advisor Review

Bridge can currently be found within the experts section of the MQL5 marketplace, there may be other expert advisors with similar names so we have added a link below to help avoid any possible confusion. The indicator was first uploaded on the 20th of February 2020 by Smart Forex Lab, there have not been any updates yet and so the current version is still 1.0.

Overview

Bridge is an expert advisor that can be sued with the MetaTrader 4 trading platform, it was created to work with moving averages, impulse candles, and Fibonacci levels.

The main features of the Bridge expert advisor:

  • Dangerous & risk strategies free
  • Hard stop loss
  • Split system & Trailing stop
  • Calculated TP, SL and Lot size
  • Total risk control
  • There are some recommended setting when using the expert advisor:
  • Pairs: EURUSD, GBPUSD, USDJPY, GBPJPY
  • Timeframe: H1
  • Risk: 1-3% per order
  • Leverage 1:500

There is also a whole host of settings and parameters available that you can use to slightly change the way that the expert advisor functions, some of these include things like maximum spreads, maximum lot sizes, the lot type including risk, the risk factor to use, take profit levels, trailing stops, and many more options too.

Service Cost

The Bridge expert advisor can be purchased, for $175, this will give you unlimited access to the expert, there is also the option to rent it, you can rent it on a monthly basis which will cost you $30 per month, you are also able to rent it on a three month period which will cost you $50 and for 6 months it will cost you $100. There is also a free demo version available, this will have some limitations to it, but we are not sure what they are.

Conclusion

The expert advisor only came out on the 25th of February 2020 so there aren’t currently any reviews, there are some comments, the creator seems to be replying to them quite promptly so this tells us that they are willing to help support it rather than just uploading and leaving it. Due to there not being any reviews available, we would highly recommend that you download and test out eh free demo version, even though there will be some limitations, it will give you an idea of how it works and whether it will suit your needs.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/46360

Categories
Forex Service Review

Forex Auto Trade Copier Review

Auto Trade Copier is an expert advisor that can be found on the utility section of the MQL5 marketplace. There are a lot of trade copying expert advisors on the market, so we have linked to the exact one that we are looking at below. The expert advisor was first released on the 17th of June 2014, it has been updated a few times and the most recent update was on the 13th of AMrch 2020 and is now at version 5.69.

Overview

The Auto Trade Copier is an expert advisor for MetaTrader 4, it is designed to copy trades between multiple MT4 and MT5 accounts with a 100% accuracy rate. You can act as both a sender or receiver by using this single expert advisor.

The main list of features:

  • Copy between MT4 and MT5 accounts.
  • Switch between Provider or Receiver role within one tool.
  • One provider can copy trades to multi-receiver’s accounts.
  • One receiver can copy trades from multi-provider’s accounts.
  • An account can copy to itself as a way to enlarge lot size. This is useful to modify copied lot size from the MQL5 signal.
  • Copy SL/TP modifications, not only Entry and Exit, so it’s more secure for a receiver in the case the connection is lost or terminal is down.
  • The receiver’s account can still trade manually or use other EAs without any conflict.
  • Auto recognizes and synchronizes symbol suffix between brokers.
  • Allows up to 5 special symbols setup (i.e.: GOLD –> XAUUSD, etc.,).
  • Multi lot size setting options.
  • Drawdown protection to the receiver account.
  • Allows filtering copy Entry, SL, TP, and Exit point.‌
  • Allows filtering which type of orders will be copied.
  • Allows inverted copying.
  • And more

There are also a lot of settings and parameters available to help alter the functionalities of the utility. Some of these include special symbols, the ability to change font sizes, to choose to be a sender or receiver, to set lot sizes by scaling, multiplier and others, maximum lot sizes, copy filter options, order filters, copy comments, and more.

Service Cost

The expert advisor will cost you $79 to purchase outright, you are also able to rent it on a monthly basis and will set you back $39 per month. There is also a free demo version available, this version only allows you to set the volume as fixed minimal lot sizes.

Conclusion

There are 65 reviews available, these reviews have given the expert advisor a 5 out of 5 rating.

“The best trade copier available in the market with great support. Highly recommended!” – A 5-star review.

“Thanks, Kevin for this excellent copier. it works exactly it should be. All I ask for is stability. Keep up the good work Kevin. Highly recommended seller” – A 5-star review.

“This copier cannot set SL and TP at slave side. It can only copy master’s SL & TP. Before I purchase I asked seller if I can set SL and TP at slave side and he replied “yes”. After I purchased and asked him again, he changed his answer and said “The normal version of my trade copier doesn’t have features to set custom SL and TP for the receiver. But if you want, I can make a custom version with that feature for you.”. He never tells me about the version when I asked him before I purchase. Wasting my money.” – A 1-star review.

So while the majority of reviews are very positive, there are some negative ones out there, as always, we would recommend that you download the free demo version just to make sure that it works how you need it to and that you are able to get it set up correctly prior to making a purchase.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/4676

Categories
Forex Service Review

System Recovery Bad Order MT4 EA Review

Recovery Bad Order MT4 is a piece of software that is located on the MQL5 marketplace under the Experts heading. It was created by Marta Gonzalez and was uploaded to the marketplace on the 21st of March 2020, it has not had any updates so the software is still lat version 1.0.

Overview

Recovery Bad Order MT4 is an expert advisor that was designed for the MetaTrader 4 trading platform, the EA was designed to be a recovery robot, helping you get out of trades that have not gone the right way. The EA will place positions going in the opposite direction to the positions that are going negative, it will use calculations to work out the size and positions to take, it will help split up unprofitable positions into smaller ones that can be closed over time reducing losses.

There are some input parameters available that can slightly alter the functions of the EA, these include the magic numbers, lot sizes to use, basket settings, recovery mode, and more.

https://youtu.be/smRcLzd-4EY

Service Cost

Recovery Bad Order MT4 can be purchased with a single payment of $30 which gets you 5 activations of the software and no further limitations. If you prefer, there are some options to rent the EA too, these can be done on a monthly basis which will cost $10 per month, for three months it will cost you $15, for six months it will cost you $20 and for a year rental, it will cost you $25 for the year.

A free demo version can also be used but only wot the strategy tester within the MT4 platform, so for this sort of EA, it will not be very helpful.

Conclusion

There are currently no user reviews or ratings at the time of writing this so we do not know whether people are finding the EA profitable or whether it is doing what it is intended to do, there are also no comments from users so we do not know if the developer is offering support, due to this we would suggest contacting them, just to make sure they will be there should you decide to get the EA and then need some support.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47200

Categories
Forex Service Review

Pipsmonster EUR/USD Expert Advisor Review

Pipsmonster Eurusd H1 is located and found on the MQL5 marketplace, it was created by Raphael Schweitering and was uploaded on the 22nd of March 2020, it has not received any updates so its current version is still version 1.0.

Overview

Pipsmonster Eurusd H1 is an expert advisor that was created for the MetaTrader 4 trading platform, it is an automated trading system that has been optimized to be used with the EURUSD currency pair and on the H1 timeframe. There isn’t much information available around how the EA will actually function which is not a great sign to see as customers will need to know how it functions and analyzes the markets when altering some of the available parameters.

There are some additional features that come with the EA, these include working with 4 or 5 digit brokers, it has a spread filter, an equity stop functions, offers drawdown protection, takes profit bracket functions, to stop trading once take profit or stop loss target is reached, fast buttons for order types, an information panel, 5 types of money management including fixed lots and percentages, adjustable trading times, and an advanced algorithm for entering the exiting the markets.

There are also some parameters and settings that come with the EA which allows you to alter its functions. Some of these inputs include showing the information panel, magic numbers, lot sizes, risk management settings, take profit and stop loss goals, maximum spreads, slippage, minimum equity, and many more.

Service Cost

The Pipsmonster Eurusd H1 can be purchased with a single payment of $349 which is a one-time payment that gets you up to 50 activations and no other sort of limitations. There is also an option to rent the EA, this is done on a yearly basis and will cost $299 per month. A free demo version is also available and has been limited to usage with the strategy tester within the MT4 platform.

Conclusion

Unfortunately, there are currently no user reviews or ratings so we do not know whether people are finding the EA profitable or whether it is doing what it is intended to do, there are also no comments from users so we do not know if the developer is offering support, due to this we would suggest contacting them, just to make sure they will be there should you decide to get the EA and then need some support.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/47527

Categories
Forex Service Review

NightXploiter EA Review

NightXploiter can be found within the Experts section of the MQL5 marketplace, it was first uploaded by Ugur Oezcan on the 17th of August 2018 and was most recently updated on the 10th of August 2019, the expert advisor is currently at version 1.30.

Overview

MightXploiter is an expert advisor for the MetaTrader 4 platform, its main purpose is to open trades based on levels. It can be used with multiple different currency pairs at once and depending on the pairs, the trading sessions are mostly short and occur just before the New York close up until the middle of the Asia sessions.

The expert advisor does not use methods such as martingale or grid, every trade will have stop losses added to it once the trade reaches a profitable zone, it will also use trailing stops.

In terms of parameters, there are plenty of them for you to change, they include things like GMT offset, session opening and closing times, whether to use fixed lots, stop losses, which money management strategy to use, take profits during the drawdown, custom currencies, notification settings, and more.

Service Cost

It is quite an expensive expert advisor, NightXploiter will cost you a one-off payment of $499, this will give you up to 5 software activations and it does not have any additional limitations. There is also the option to rent the EA, this can be done on a monthly basis and will cost you $35 per month, for three months it will cost you $90, for six months it will cost $170 and to rent it for one year it will cost $350 per year.

The MQL5 website shows that a free demo version is also available, this version will be highly limited, it could be that it is only usable with the product strategy due to there not being an official demo version from the developer.

Conclusion

There are two reviews available for the EA, they have given it an overall rating of 5 out of 5.

“One of the best scalpers for CHFJPY pair. It comes with great performance, steady growth with low DD. Highly recommended…“ – A 5-star review.

“This EA’s loss is too big, now it is a downward trend to hold many orders, a stop loss is around 15% if 4 orders all stop loss will lose 60%, which is very terrible, this is a failure result, people do not buy, I now lost more than 10%” – No rating is given.

The overall rating of 5 out of 5 ca be a little misleading as there is in fact a negative review, the user just did not leave a rating, the opinions within the reviews ar every mixed, one with profits and one with losses. Thre are also over 30 comments, the developer has been very active in replying to them which shows that they are still supporting the EA and will be there to offer support should you decide to purchase or rent the EA.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/31079

Categories
Forex Service Review

ATS Infinity Review

ATS Infinity can be found within the MQL5 marketplace, it was designed by Ruslan Pishun and first uploaded to the marketplace on the 11th of April 2019, it has had a large number of updates, the most recent update was on the 23rd of March 2020 and it is currently at version 3.19.

Overview

ATS Infinity is an expert advisor that was created for MetaTrader 4 but a MetaTrader 5 version is also available. The EA has been designed as a long term trading system that will work on 9 different pairs and timeframes it will use various different trading systems which include trend trading, counter-trend trading, and more.

The main timeframes and pairs optimized with the EA:

  • EURUSD on M5
  • GBPUSD on M5
  • GBPJPY on M5
  • USDCAD on M5
  • USDCHF on M5
  • USDJPY on M5
  • AUDUSD on M5
  • GBPAUD on M5
  • NZDUSD on M5

There are also plenty of parameters available, these include the pairs to use, magic numbers, custom risk settings, lot sizes, slippage, spreads, news filters, and more.

Service Cost

The expert advisor will cost you $129 to purchase it outright, there is also the option to rent it on a yearly basis, this will cost you $79 per year. Both options will give you up to 5 activations of the expert advisor. There is also a free demo version is also available, this can be sued with the strategy tester within the MetaTrader 4 platform.

Conclusion

Just one review available which has given it a 5 out of 5 ratings, there is no comment to go along with the rating though. There are a number of comments, most seem to be from the developer themself giving some additional offers and settings. The last comment was back in 2019 so it is hard to tell whether it is being actively supported, we would suggest contacting the creator with any questions to check that it will work for you and that it is still actively supported.

This Forex service is currently available at the following web address: https://www.mql5.com/en/market/product/28769