Promax Gold EA is a trading system that belongs to Sinry Advice. The presentation could be more extended and explain us better if what we are looking at. The developers have many products in their portfolio.
Detailed Promax Gold EA review
The advisor has some features explained:
- The system is an automatic trading tool. It opens and closes orders for us.
- We have a news filter applied to skip trading high impact news periods.
- We can expect that the monthly profit can be 20-40%.
- It calculates lot sizes for us automatically based on the available margin.
- We can use it on the MT4 terminal only.
- We can work with default settings as well.
- It can be used on real and demo accounts.
- We should never pay more after purchasing a product.
- We can rely on updates and upgrades.
- The installation process takes several minutes.
- We have to work on the raw-spread accounts.
- The system can experience drawdown periods.
- The advisor doesn’t allow us to open orders on an account during its working.
- We shouldn’t use expert advisors on this account.
- We cannot work on mini or cent account types.
- The advisor needs to be attached to a VPS service.
- The developers can provide advice about a broker.
- The Opoforex broker can be a broker house that we can work with.
- The leverage should be 1:500.
- The minimal deposit requirements are $1000.
Promax Gold EA strategy tests
Sinry Advice doesn’t like to share backtest reports with us. It’s typical for all their products to unite expert advisors and indicators. It doesn’t allow us to know details of what results the system could achieve.
Promax Gold EA trading results
The system works on Opoforex broker on a real account automatically with 1:500 leverage. The platform is MT4. The account has a verified track record. It was created on April 25, 2021, and funded at $100,000. Since then, the absolute gain has become 32.47%. An average monthly gain is 15.22%. The maximum drawdown is so deep – 53.22%. Sixty-four traders track the trading results.
The advisor executed 226 orders with 7728 pips. An average win is 184.66 pips when an average loss is -571 pips. The EA opens orders in the long direction only. There’s 80% of the win rate. An average trade length is almost five hours. The profit factor is 1.79.
As we mentioned, the system worked in the long direction only.
It decided to trade several hours a day when some news is released.
Many orders were lost on Monday. Probably we should skip opening orders on it.
The advisor works with quite high risks to lose 10% of the balance.
It opens orders forming a Grid of orders with Martingale to make more profits or recover if some orders from the Grid are going to close in a loss.
The advisor is a quite young trading solution.
We can buy this system for $198 for a digital lifetime copy. The starting price was $390.
- We are supported with a 14-day refund policy.
- We should start using the system by executing orders on a demo account.
- We are not sure that it’s possible to eat the system well during that short period of time.
The typical Sinry Advice’s presentation has a block with some comments that aren’t verified. So, most likely, they are fake ones.
We have 78 reviews written about the advisor. All of them are positive.
People shared info on how the system works on their accounts. We can’t trust faceless feedback blindly.
Promax Gold EA trades Gold with mediocre profitability but with high drawdowns. The presentation looks poor and could have been written more informative. The devs didn’t share with us backtest reports.
The system works on a real account just for several months. We have to check trading results for half a year more.