Euro Master is a 100% automated Forex EA launched on 6th November 2020, that trades in the EUR/USD with the help of Artificial Intelligence (AI) technology. As per vendor claims, it is capable of adapting to market conditions and analyzing the market thoroughly for finding the best entry points. Apparently, this system is suited to all broker conditions and does not require manual intervention.
Detailed Forex Robot Review
Euro Master doesn’t have an official website, and the MQL5 page is the only source of information about this Forex EA. Here, the vendor has explained in brief how the robot works and has then proceeded to outline the features and the settings for this system. Backtesting results are provided for various risk settings and the link to a Telegram channel is given where you can access the signals and live results.
The creator of Euro Master is a Russian trader called Stanislav Tomilov. In the past, he has developed other Forex automated systems like Firestarter, Aura Turbo, Ice Forex, and Aura Gold. There is no additional information to be found on the developer and we have no way of verifying if he has any real experience in the Forex market.
On the ML5 page, the vendor has mentioned that Euro Master does not use risky strategies like hedge, grid, and martingale. For each trading position, a take profit and a hard stop loss are used, and the software can be installed easily without any technical knowledge.
The vendor recommends using this Forex EA for trading in the EUR/USD pair for the M5 timeframe with a minimum deposit of $100. It has reinforced machine learning that allows for automatic correction without labeled input/output pairs.
Euro Master Strategy Tests
There is no information available on the trading strategy employed by the system for extracting profits. This is an important aspect to consider while assessing the profitability of a Forex EA since it reveals whether the system is capable of surviving in adverse market conditions. Some of the technically-inclined Forex traders might find this disappointing.
Here is the backtesting result for Euro Master conducted from 2015 to 2020 using default risk settings. We can see that the system has generated a gross profit of $1732256.62 from an initial deposit of $1000. 99.78% of short positions and 99.80% of long positions were won in this backtest, with the relative drawdown being 28%.
For this backtest, Euro Master had a profit factor of 12.71, which is incredibly high, even more, an advanced automated system using AI.
Real Account Trading Results
Although the vendor hasn’t shared the live trading results on the MQL5 page, we were able to find a live trading account for Euro Master on the Myfxbook website. This account was launched quite recently on 2nd January 2021 and to date, only 15 trades have been placed through it.
Although it has won 12 out of 15 trades, from the trading history we can see that the losses suffered in those 3 trades have been huge. As a result, the current profit for this account stands at -$178.84, while the time-weighted return and absolute gain are -17.88% and -11.91%, respectively.
Currently, both the daily and monthly gains are in the negatives, with the drawdown being a high 58.97%. Compared to the backtesting data, the live trading results are not as impressive, and it tells us that although the system performed well on historical data, it is struggling to find its footing in the live market.
Euro Master is available for $499, and the vendor claims that there are only two copies remaining at this price, after which it will rise to $599. You have the option of renting the software for one year at $299, but you can also try out the free demo version. The vendor doesn’t provide a money-back guarantee for this Forex EA, which is highly disappointing, since basically, he is asking traders to trust a system that has not been live for too long.
We couldn’t find any user reviews for Euro Master on third-party review websites like Trustpilot and Forexpeacearmy. Since this is a newly launched robot, it is quite natural that not many people have heard about it.
In conclusion, we would like to say that Euro Master is not a system that you can trust. Although it has provided several backtesting data showing decent results, it seems to falter in a live trading scenario where it has suffered losses as large as 20%.
Certainly, it is extremely risky to buy such a system for a high price of $499, since there is no guarantee that it can win your profits.
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