SWING VIP EA is a Forex trading robot, programmed and developed by the SinryAdvice team. This EA is advertised as the ‘most trusted and downloaded tool in 2020 ‘ able to generate up to 76% win rate. Sinry’s robot is purported to be the first Forex robot that is based on price action, able to close all weeks in profit even during US election week and market volatility. It is said to use not only price action, but also PPO, CCI, and the other basic indicators to analyze them all together and place a trade. Throughout the whole Swing VIP EA presentation we are invited to click the’ buy it now’ button and start trading with this MetaTrader 4 tool.
Is it the right decision? We are here to let our community know whether it is a viable investment option or not.
Detailed Forex Robot Review
The robot is owned by the SinryAdvice team, a new developer that launched their service in March 2020. We have already analyzed one of their EAs – MG Pro EA, the robot that does not have good trading results and lacks good customer reviews. Although we do not recommend MG PRO EA because of many cons, it does not mean that we are going to judge their Swing VIP EA. However, reputation matters and history can be an indicator of future success or failures.
The developers of Swing VIP EA highlight the main features of their robot:
- It works on autopilot
- Needs only a 1-time setup and the rest is fully automatic
- Promises to bring up to 16%-30% of profit monthly
- Its price is said to be 62% lower than the other tools available in the Forex market
- It brings 83% more profits than the other EAs
- Supports 5 currency pairs: AUD/CAD, CAD/CHF, EUR/USD, NZD/CAD, and USD/CAD
- Trades with low drawdowns
- Its trading strategy is based on Price Action and Trend
- The EA was tested on the 3-year data
- The robot can easily be used on the default settings
- The vendor offers us to use VPS to get the best trading performance
- For every $500 we have to use 0, 01 Lot size
- It opens and closes trades automatically
- It comes with 2 trading accounts: a Real and 1 Demo
- 1-time payment
- Free updates
- The devs offer 100% money refund in case the EA is not profitable
- Does not use Martingale
The SinryAdvice team points out that their MT4 trading tool was designed to use Price Action, CCI, PPO, Trend, and the other basic indicators to analyze them and place trades.
Swing VIP EA Strategy Tests
The robot performs Price action and Trend strategies. The devs add that this robot does not use Martingale for trading. Instead, it uses CCI, PPO, and other basic indicators to place trades. This is an MT4 system, which works with 5 currency pairs and performs on an M1 timeframe. The recommended minimum margin requirement is $500 for 0, 01 Lot size. We are recommended to use VPS to obtain the best possible trading performance of Swing VIP EA.
Backtesting report is a very important part of every brand presentation. Unfortunately, we couldn’t find any backtests on the official site of the developer. This sort of info could provide us with a clear picture of how the software performed in the past, but it cannot predict the future performance of the software. Lack of backtesting results means that we cannot analyze the trading strategy used for this EA and that the developers are not 100% transparent with us with the trading results they predict while trading with Swing VIP EA.
Real Live Account Trading Results
We are provided with live trading results verified by myfxbook.
It is a REAL USD trading account working on the MT4 platform with FBS brokerage and a 1:1000 leverage. The account was added on June 14, 2020. Since that time it has gained over $8,2K of profit with $10K deposited funds. Its total gain equals 82.98% with a monthly gain of 11, 05% and a peak drawdown of 27, 85%. We also noticed that since the mid of October the drawdown has not been higher than 12, 6%, that looks good and safe for trading:
Since June, the EA has traded 639 trades (won 26 out of 639 trades, which represents 67%.) and 6528 pips. The average win ( $34.76 ) is higher than the average loss ( -$30.57). The robot’s profit factor is 2, 27 and the average trade length is 1 day. The win-rate is 66% for Longs and 67% for Shorts.
It trades 5 symbols:
The best trading results are achieved with EURUSD ($2123) and USDCAD ($1749). The less traded currency pair is CAD/CHF – 90 trades.
The robot trades every day, from Monday to Friday:
It opens most of the trades on Thursdays – 159.
It trades with minimum trading risks:
However, we have noticed that its trading activity is hidden, thus we cannot analyze open orders and open trades info:
Why is this sort of info hidden? What does the dev want to hide from us?
The devs use hedging but it looks they handle this strategy well. SL and TP levels are hidden. Lot size ranges from 0, 15 to 0, 20.
The robot trades every month equally:
Since the period of the account activation, the EA has not shown any loss month.
On the sinryadvice.com website, the software is available to buy with a $150 discount, going only for $98 instead of its regular $98 price. It includes 2 accounts: 1 Real and 1 Demo. In case you are dissatisfied with trading results obtained within 14 days after a purchase, you can ask for a refund.
On the website of the developer the software has a 5-star rating with plenty of positive reviews only:
It looks good, but we never trust reviews written on the website of the developer. These reviews can easily be manipulated, concocted, or paid for. Thus, we always search for customer reviews written on third party websites, like FPA, Trustpilot, Quora, etc. Unfortunately, we couldn’t find any customer reviews on third-party websites.
We do not recommend this trading tool to the public. Firstly, it lacks backtesting results and the trading performance of the robot does not match the profits assured by the developer.
Secondly, the robot uses different risky trading methods. Moreover, if the robot was as effective as it is advertised, it would not cost only $98. Thirdly, a $150 discount can only mean that something is wrong with this EA.
Moreover, when we were analyzing the trading performance of the robot, we noticed that it lacks transparency in terms of trading activity data. In addition to this, we did not find an automated trading mark on the trading account. It can mean that the developer is trading manually to improve the trading results of Swing VIP EA. Thus, we cannot 100% trust the results we see on the screen.