Forex Real Profit EA comes with verified performance statistics and works on the MT 4 platform. It comes with a proper installation guide to help traders who have no experience in trading. The company claims that their robot is useful for keeping the emotions out and bringing in consistent profits. Let us review and see if the algorithm is worthy of investment.
Detailed forex robot review
The developers present the system by detailing everything under multiple tabs on the website. The outlook of the pages looks poor, and traders can struggle to find the desired information. There could have been a better job in the presentation
The company is not transparent about its experience and whereabouts. They state that Click2sell is the authorized reseller of the product but fail to give any clues on what that is. Traders can only contact them through their website by filling out a form.
The robot has the following set of features:
- It can work with a minimum deposit of $1000
- It can operate with four or five-digit brokers
- It does not use martingale, grid, and recovery modes
- It has large spread and slippage protection systems built within
How does it work?
The robot works by following the steps mentioned below:
- Take the ex4 file from the developer and place it in the experts’ folder of MT4
- Refresh the experts’ tab
- Attach the robot onto the charts to begin trading
Forex Real Profit EA strategy tests
The robot uses six strategies: two scalping Asia sessions, one for scalping on-trend, and the third is the breakout. It uses only two currency pairs: GBPUSD and EURUSD. According to the website, it trades with a risk-reward of 1:1 with a win rate of 61%. It does not use grid, martingale, and recovery strategies and does not trade when daily and short-term ranges are higher than maximal limits. According to the history on Myfxbook we can see that the algorithm uses a different lot size for each trade. It places a high stop loss at 200 pips but closes trade before it reaches that.
The developer shares backtesting results for multiple pairs. On GBPUSD, the relative drawdown was around 21.10%. The winning rate was 59.99%, with a profit factor of about 1.29. The best trade was $22183.20, while the worst one was -$29198.40. There were a total of 5661 trades where the robot made a net profit of $608167.94, starting from an initial deposit of $500.
Real trading results
Real trading results are tracked via Myfxbook, which shows performance from Dec 11, 2013, till the current date for FRPEA_2. Since then, the robot has had an average monthly gain of 2.26 with a drawdown of 37.56%. The drawdown value is significantly high here in contrast with the monthly output. This makes up for a poor risk-reward. The winning rate stood at 56%, with a profit factor of 1.26. The best trade was $88.06, while the worst was -$48.66. There were a total of 1606 trades and slippage.
The robot can be bought for a one-time price of $199 per year. There is a 30-day money-back guarantee.
There is only a review at Forex Peace Army where a customer states that the robot is only profitable for a short duration but fails afterward.
Forex Real Profit EA may have live and backtesting results for a good time, but the live performance is quite poor. This makes the algorithm not suitable for investment.
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