Tag: forex 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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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