EA FOREX ROBOT or EA FX Robot is one of the most hyped and costly trading software to buy. One might wonder whether it’s justified for a trader to pay $3,000 for a single license.
I had to investigate the matter before writing this review. And for some reasons, I suspect that EA FX ROBOT is not a worthwhile trading software.
The things that I have seen on this website are really not confidence inspiring.
When you arrive at a random website and the first thing you see on their homepage are marketing messages and questions like ”Are you ready to change your life?”, you should have real concerns and doubts about that website.
When I saw a couple of these statements on the landing page of the EA FOREX ROBOT, I said to myself that these promises were definitely too good to be true.
The vendor is currently using this website as a promotion tool, and that’s why they are asking their customers to choose whether they want to become millionaires or recover their losses.
You should definitely treat this as a red flag. Go figure!
EA FX ROBOT Review
Note: Click here to go to my trusted Forex robots page.
I must say that I have been baffled by the content of this website. Immediately after reading the questions which are also promises at the same time, I saw a link supposedly leading to their ”live performance” page.
Clicking that link actually takes me to another sales page where this vendor is using words that can only come from the mouth of a silver-tongued salesman.
The sales page is warning us that we should not trust anyone else and that we should ignore vendors who give screenshots of trading performance.
The reason why this vendor is actually dismissing his competitors is because they are presenting results in a different way. They let you access live performance in their MT4 account instead.
They have provided instructions on how to do that. Also, they’ve provided documents that can be downloaded for a detailed analysis of their trading activities.
It’s certainly a good gesture to realize that this developer is willing to go an extra mile to ”prove” their Forex robot’s trading capabilities on a live MT4 account.
However, something feels shady when it comes to the way EA FOREX ROBOT is being promoted.
The manner in which this vendor has tailored their message to their audience suggests that EA FOREX ROBOT is actually one of the worst performing Forex robots in the world.
To say that almost 99.9% of EA FOREX ROBOT users are making money (when this statement can’t be verified) is to mislead potential buyers into spending $3,000 or more on a product whose ”success” is based on claims and hearsay as opposed to factual information.
By now, most people should be smart. If EA FOREX ROBOT is winning most trades as claimed by the vendor, they should comfortably keep it to themselves.
I am not saying that all Forex robots that are being sold in the market are non-performing. What I am saying is that if a vendor is offering a robot for this price, their claims need to be backed by some form of verifiable information, and two, they should never make promises which are sounding downright absurd.
Stating or even suggesting that you can become a millionaire/recover your losses with this Forex robot is quite misleading.
Also, when a vendor provides a link to their live performance page, I am not expecting anything less than a fully verified and updated Myfxbook account.
If this link is leading me to some MT4 account where I can just log in with the provided credentials, I can only wonder why the vendor missed that important part of proving trading results based on performance history and live data.
Well, I may log in out of curiosity to see what EA FOREX ROBOT has been doing.
But how do I figure out whether this software has blown this account in the past? How will I know if the vendor just provided me with the best sample of their robot’s trading performance while using trickery to seal the bad records?
How do I know the average draw down percentage and things like that?
Now, this discovery actually confirms my worst fears towards EA FX ROBOT.
Indeed there is a link to their myfxbook page. But guess what? The vendor who claims that this robot wins most trades is not able to track those results and prove that this has been the case.
As it currently is, that myfxbook page is completely blank. Go figure!
EAFXROBOT review: Features and claims that might have enticed you
This robot is supposed to have multiple trading strategies from which advanced calculations can be done when opening and figuring out how to close trades.
Of course it trades for you automatically, so you don’t have to do anything else to become the new ‘rich kid in town’.
It trades 24/5, implementing difficult calculations under the hood while you sleep at night or hang out with friends.
These strategies have not been mentioned anywhere. Money management is excellently handled by the robot.
You can set a specific percentage that you’d like to risk in every trade. This is important by the way. But it does not make EA FOREX ROBOT any better in trading.
The more you continue scrolling down the homepage where EA FOREX ROBOT is promoted at, the more you come across vague and monotonous information.
Daily profit is assigned with a value like 100%. Same case applies to Accuracy. Honestly this information is vague.
And of course it can trade all pairs because a salesman can never let you go away because they were ”dumb” enough to create a Forex robot that can only trade one pair.
So let’s see why am not for this Forex robot.
EA FOREX ROBOT review and tell tale signs
This vendor is offering a Forex robot and at the same time offering a managed Forex account service.
This managed account service caught my attention when they claimed that they can make 1000% monthly profit.
To hypnotize you further, they worked with a figure like $5,000 and claimed that they can turn this to $45,000 in one month.
Now you see why things are starting to sound like scam.
Also, they are taking a big chunk of your balance without mentioning anything to do with high water mark principle.
That means if you lose now and win later, the 30-50% charge for the service will apply regardless of your account balance. That’s not my cup of tea.
And of course you can also see that this vendor is promoting many Forex brokers everywhere on their landing page. To me, this is just business. It has nothing to do with your bottom line.
Eafxrobot is one of the most expensive EAs around as the cheapest license goes for $3,000 while the most expensive license costs 10K.
I don’t want to spend this much if the sales page is sounding like a gimmick and not giving me reasons why I should spend this amount of money.
My best advice for you
If this is the first time you’re getting into Forex trading, I’d like you to make a decision between going for a Forex robot or training yourself how to trade like a professional.
When you have figured it out, come here and pick my recommended trading software from this list. That’s option number one, and two, you can start learning with my students to become a proficient trader instead.
If you’d like to ask me anything, reach me here. Otherwise, feel free to comment on this review below.
Author: Warren Ouma
Warren Ouma is a highly regarded Trader, Author, Critique, Blockchain analyst, Investor & Coach with over 7+ years experience trading the financial markets. He currently mentors students from various parts of the word. In 2016, Warren won the Million Dollar Trader Competition, achieving an impressive 350% return. Warren regularly contributes to well known financial websites and publications including Valforex.com, Investing.com, FX Street, MoneyShow, and more.