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Forex Service Review

AUD/USD IM Trader EA Review

AUD/USD IM Trader EA is a robot created in March 2020 by the Greek developer Georgios Vergakis. Georgios Vergakis is a prolific creator of automated trading systems with several tools in the MQL market. This EA is fully and exclusively developed to work with the AUDUSD pair, and the tests have shown that only AUDUSD can be traded with minimal risk and minimal reduction. So the EA is optimized for AUDUSD.

This EA works very well during the London session only, “then trades back and 100% bad in late hours, made 400 USD more net profit (including BUY, Sell Signals, Trend Times and Side Price Action)” That would have been $1,142 on a lot. The algorithm is pretty solid and immune to false signals at the moment. If this really withstands the test of time it will develop into a very serious EA. In summary, you can really spot turning points in the market, but you need improvements in identifying clear Sell and Buy signals for all trading hours, and that’s why the developer will make future EA updates for better EA behavior.

In fact, the algorithm can’t give accurate BUY/SELL signals, but it still detects turning points very accurately, so when it works it does very well, and when it starts to fail somehow the BUY/SELL is reversed, and it’s 100% wrong. To solve this, a self-learning algorithm has been sought, the binary function is already correct, and independent of the market price trend, when the signal changes the trend will be reversed.

The goal is to optimize it further if necessary, but it is already cost-effective, keep in mind that the inverse sensitivity default is set at 1.000025, the higher the number the fewer operations will be activated, and the smaller the number the more transactions will be activated. It is usually set from 1 to 1.00004, but the test you see is for 1.00001 and in H1 time frame.

Please set the inverse sensitivity factor to 1.00001 when you try in Table H1, you can try the highest number or the default 1.000025 in smaller deadlines, this remains to be proven, but for now, the EA shows profitability in H1, in inverse sensitivity 1.00001. The stops are set to 135 pips. It is an Intermarket indicator that takes data from many European pairs and USDJPY. So don’t assume that you trade only AUDUSD, it’s just that the movement of AUDUSD depends on the patterns in all those other pairs. In fact, the EA negotiates patterns in EURCHF, USDJPY, and several other pairs. This EA may require a minimum of $2,000 in acc size, and small-batch size to start operating, and is proving to be able to recover accounts blown by other risk strategies.

In conclusion, we are talking about an EA trading at market turning points. As the developer says, although the robot is already profitable right now, it needs improvements because they have detected situations in which it does not work very well. Therefore we recommend waiting for the EA to have all the necessary updates for its optimal functioning, and only then we will evaluate the possibility of buying it.

As with any EA, it is recommended to use a dedicated virtual server or VPS, and in case of not having one, you have to have the computer turned on 24/7 to assume all transactions ordered by the robot. An ECN account of a reliable broker with low spreads and low latency is also required for transactions to be executed in the shortest time possible. Currently, as a very recent tool, there are no reviews of users who have tried the EA and can share their experiences with it. The rental price of Audusd IM Trader EA is 330 USD for one month of use, and 700 USD for 3 months of use, as it is currently not for sale to MQL market users.

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Forex Service Review

Advanced News Trader EA Review

Advanced News Trader is an Expert Advisor that was added to the mql5 marketplace by Nurudeen Amedu in December of 2016. The EA has not received any updates since being launched.

Overview

This EA focuses on news trading. Markets move because of news, which makes news trading one of the most effective methods for short-term movements, especially when you’re looking at currencies. The Advanced News Trader follows a system that provides 2 separate strategies for news trading; Deviation and Strategy. Through Deviation trading, the trader looks for the news release he is planning on trading and enters the deviation for the buy and sell signals. Straddle trading is a more common, advanced method that will allow traders to straddle if a deviation is reached.

The EA performs a currency strength check before making entries, implements trailing stops, allows hedging, BreakEven, and supports Martingale. The product comes with a user manual and a news-deviation trigger sheet that includes major news releases along with their buy/sell deviations. It is compatible with the highly-popular MetaTrader 4 platform and only works with currency pairs.

 

Service Cost

The developer provides a few different pricing options: traders can rent the EA at a rate of $50 USD for 3 months or $100 for one year, or buy the product outright with 5 activations for $250. The overall price is a little high, but the yearly rate isn’t terrible. Fortunately, the author makes free demo accounts available, so this may be the best way to test out the EA before deciding to purchase it.

Conclusion

The Advanced News Trader EA implements two different strategies that support news trading while allowing hedging, Martingale, and other functions. It is best for identifying short-term movements based on microeconomic releases. If you’re interested, you can rent the product for $50 USD (this is the lowest price), but there isn’t any feedback regarding how well this EA has worked for others. The comments section is made up of users asking the developer questions back and forth, but we do see that the developer is very responsive and helpful.

As always, a good strategy, reputable broker, and effective risk-management skills are crucial to making profits, regardless of how well any EA performs. If this product fits with your ideas, then it could very well be an effective tool to add to your arsenal.

This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/19233

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Forex Service Review

FXMasterBot Trading Robot Review

Fxmasterbot is an automated and manual trading robot that uses a unique algorithm developed by a team of experts with 20+ years of experience in the field. Since the software’s launch in December of 2017, Fxmasterbot has kept its service updated to adhere to recent regulations. The software is free and worth consideration if you’re looking to join the masses that are switching over to automated trading methods.

Overview

The service offers a customizable experience by allowing traders to tweak several settings that affect the algorithm behind it. You can set stop loss and take profit limits, signal strength, set the daily stop-loss limit, and take steps that could lead to a more profitable outcome, such as setting the limit on the number of consist trades that can be executed in a row, or how many trades you’d like to execute in a day.

There are also three separate account types to choose from, including a Novice, Expert, and Master account. What makes Fxmasterbot stand out is the ability to trade manually or automatically. If auto trading is turned on, then the bot will place trades immediately without requiring authorization. Through manual trading, the trader would need to accept every signal they want to trade.

The service offers traders the ability to trade with multiple different brokers. You can choose just one, or trade with several of them instead. 24option, iTrader, OTCapital, EuropeFX, and FPmarkets are among the options, and some of those are even regulated. Autotrading and manual trading are integrated on the same platform for convenience, but a mobile app isn’t available, so traders will have to resort to using their browsers instead.

There are 3 currency pairs available for trading on the Novice account, the Expert account raises the offer to 9 currency pairs, and the Master account features 17 currency pairs. The Master account also comes with some added benefits like an unlimited number of open positions, prioritization with support staff, and access to more advanced settings.

Note that traders in the United States cannot use the service and the website will block IP addresses coming from the country. Several other providers are willing to work with these clients, despite strict regulation laws.

Service Cost

Fxmasterbot offers three trading accounts with a minimum deposit of $200 on their Novice account. There is a $25 minimum per trade, so the bot will be able to place up to 8 trades with the entry-level deposit. This should be a good starting amount to test the waters with, but even more important is the fact that the actual software doesn’t charge any fees.

That means there are zero monthly, quarterly, or yearly charges for trading with the bot, which lets traders put all their money into trading without paying those out of pocket costs. If you want to open an Expert or Master account, you’ll need to make a larger $500 investment into your trading account.

Traders can also register for a free demo with $1,500 worth of virtual funds that can be used to practice. Demo accounts are a good sign that the service is legit since many scammers don’t want to show you an upfront look at their return rates or allow you to test their service.

Conclusion

Fxmasterbot allows traders to become more engaged in the trading process with customizable settings, multiple account types, several different partners, and manual trading. Your profit-return rate will depend greatly on the way that you work with those settings, so a bit of knowledge can go a long way here. The ability to manually select trades and set limits that can stop the account balance from being depleted are some of the highlights here that make this robot stand out from the crowd.

Taking a look at user reviews is an excellent way to get an idea of how successful any particular robot has been for other traders. Fxmasterbot has barely received feedback from actual users online, but the software has been included in multiple reviews on various websites. Most of the professional reviews speak fondly of the platform and give it 4 to 5 stars in most areas. The only downside is that traders don’t know which of these websites might be working with the company, but it isn’t likely that this is the case for all of them.

This Forex service can be found at the following web address: https://fxmasterbot.com

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Forex Service Review

Follow the Market Desire Indicator Review

Following can be found within the indicators section of the MQL5 marketplace, we have provided a link to tit below as there may be others with similar names. Vladimir Perervenko first uploaded the indicator on the 18th of August 2014, it was subsequently updated a number of times, the most recent was on the 29th of October 2015 and it is currently at version 1.20.

Overview

Following is an indicator for the MetaTrader 4 platform, the indicator has been designed to show the strength of the current market movement on the higher timeframes and can also indicate the current targets, identifies the resistance and support levels and will draw these lines onto the charts.

The way the description is written is a little confusing, almost as if it is written using Google Translate. As far as we can tell, the indicator will use trends and price action to show the direction of the market for you to follow.

There are a number of parameters that can be altered:

Bar – the number of rendered bars;
slow – double the current TF (increase twice), useful for small TFs;
TF_high – show support and resistance lines of a higher TF. The ends of lines of a higher TF are farther than those of the current one. Not updated in the tester;
Line – show support and resistance lines of the current TF;
zz – join the tops of the current TF using lines;
up, up_up, dn, dn_dn – colors of support and resistance lines (Sup1, Sup3, Res1, Res3).

Service Cost

The indicator can be purchased for $100 which will get you unlimited access to an unrestricted version. If you do not wish to purchase it outright, you are able to rent it, this will cost you $20 per month, $30 for three months or you can also rent it for six months which will cost you $50.

There is a free demo version available, but no indication as to what the limitations are, it is worth downloading to try but we are not sure what functions are actually working on the free version.

Conclusion

There is one review, but the user forgot to leave a rating, so currently, there are no user ratings for the indicator.

“GREAT INDICATOR. WILL BECOME SUPER GREAT WITH POP-UP ALERTS.”

There are quite a few comments, the majority are from the developer themselves, but any left by customers have been quickly answered by the developer which is good to see as it shows that they are still actively supporting the indicator. We would suggest trying out the free demo version due to there not being many reviews, this way you can make sure that it will do what you need it to before you make a purchase or rental.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/5596