Progressive EA is a Forex trading system designed to ‘make 50-200% monthly gain’. The robot released in November 2020, is advertised as the one, which uses advanced trading algorithms, able to adapt to the market conditions and place profitable trades for you. Keep on reading our detailed Progressive EA review to find out more about this expert advisor, its characteristics, price, efficacy, and productivity.
Detailed Forex Robot Review
This EA is introduced by a no-one-knows company with an aggressive statement that this robot was designed to make money and provide traders with 50%-200% of the monthly gain. The robot was released in November and introduced as the one, which makes money for traders. The Progressive EA website is a one-page presentation, which includes only a few words about the robot, its price, features, and requirements. There’s no word said about the vendor or team that stands for this EA. We know neither where they are located, nor what trading history they have in the Forex market. Lack of information makes it difficult to evaluate the system for its authenticity, productivity, and reliability.
Let’s talk about its main features:
- The EA can provide 50-200% of profit monthly
- An advanced algorithm allows the system trade no matter what market conditions are
- The robot closes all trades at the end of the day automatically
- It is compatible with ant broker with low spreads
- The developer suggests us to use RoboForex broker
- The robot uses Hard SL to protect trades
- EA trades 2 currency pairs: GBPUSD and GBPJPY
- The minimum balance to trade with EA is $10
- The recommended balance is $100
- Recommended leverage is 1:200-500
- VPS is recommended to keep the robot trading all days with a high execution speed
- The robot includes 24/7 customer and trade support
Progressive EA Strategy Tests
The Progressive EA website divulges only the bare minimal information about the robot and a few words about the trading approach it uses. We know that the robot uses an advanced algorithm and closes all trades at the end of the day. It uses Hard Stop Loss to protect traders’ accounts.
Unfortunately, there are no backtests provided on the official website of the developer. Since backtesting results help traders to understand the trading strategy used and its effectiveness, their absence means that the developer is not confident about the strategy and does not want to share it with the public.
Real Live Account Trading Results
Well, what we see on the progressive.store has nothing in common with the progress of the promised 50%-200% monthly gain. The account was broken and its last trading activity was 10 days ago.
Now we see that the total gain, absolute gain, and monthly gain equal -99, 9%. The drawdown is -99.98%. It has lost not only earned but also deposited funds and now its balance equals – $27, 59. It looks sad.
Progressive EA is available in 3 different packages. Two of them are weekly (50 euros) and monthly (160 euros) payments. A one-time payment of €999 is also offered. As you see, these pricing rates are too high for an EA that does not show great trading results. The price is incredibly high for EA that had launched a few months ago and failed to provide backtesting results or detailed trading strategy information. There is no money-back guarantee provided which is another drawback of Progressive EA.
Unfortunately, we have not found any customer reviews on reputable third party websites like Forex Peace Army, Trustpilot, Quora, myfxbook, or others. Lack of customers’ reviews is a red flag for any trading system. However, with bad trading performance and incredibly high prices without a money-back guarantee, it is obvious why we don’t recommend this EA to the public.
Wrapping up our Progressive EA review, we want to say that this expert advisor is not worth its price.
Although it is a newly launched trading tool, its developer failed to provide backtesting results to prove the efficacy of their trading strategy.
Paying 1000 euros for a robot that lacks a money-back guarantee and smooth trading performance is an unwise decision.
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