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Champion EA is a Forex expert advisor launched on 30th September 2021. It has a history of trading on real accounts for several months. According to the developer, this system is suitable for beginners as well as advanced traders and it trades with a low drawdown.
Evgenii Aksenov, the developer, is a resident of Russia. There is zero background information on this person and we don’t know whether they are qualified to build profitable trading systems. They have been selling products on the MQL5 website for three years and some of their other products include GOLD EAgle, Joker EA, Trend Line Pro, Trend Line GRID, Gold Dragon, Batman Midnight Hunter, Genesis EA, FIBO Trend EA, PZ Grid, and Level Trend EA.
There are many scam EAs available on the market today. Some vendors try to dupe customers into buying overpriced robots that fail to generate profits. This is why we must conduct this review and analyze different factors like features, strategy, live performance, backtests, and customer support. Doing so will reveal whether it is worth investing in this robot. This EA has been on the FX market only for a few months and it has had no notable achievements to date.
What is behind the Champion EA?
You should attach the EA to an H1 chart for AUD/CAD during installation. It is recommended that you only use the supported pairs. There is no need to use set files since the settings are stored in the EA. For safe trading, the robot uses a time filter and a drawdown reduction function. You need to test the EA using the 1M OHLC.
Key features
This EA supports pairs like AUD/NZD, GBP/CAD, EUR/CAD, NZD/CAD, and AUD/CAD. You can trade in all these symbols using just one chart. The robot has a news filter and does not require additional optimization. It has an in-built profit ratio system, but the vendor has not explained how this works.
You need a hedging account to trade with this EA. It is not sensitive to slippage and spread. However, the vendor advises using an ECN broker with a low spread. To ensure the EA operates in a stable fashion, you need to use a VPS. Champion EA may not conduct trades on certain days. To get started, you need to make a minimal deposit of $100.
Trading strategy
We have no idea how this EA finds optimal entry and exit points. The vendor has not mentioned what trading strategy this system uses.
Backtesting results of Champion EA on MQL5
The vendor has not shared the backtesting data in the proper format, so we are unable to see some of the key parameters. All we know is that the EA conducted 13685 trades using an initial deposit of $1000. It generated a total profit of $68632681.47 and had a decent profit factor of 1.69.
Pricing
To purchase this EA, you need to pay $799. This means Champion EA is quite expensive compared to other robots on the market. There is a 3-months rental option that costs $299 and a free demo version is also available for download. Unfortunately, there is no money-back guarantee for this EA.
Trading performance of Champion EA
Growth chart of Champion EA on MQL5
There are no verified trading results for this EA on third-party websites. This account on MQL5 was started on 22nd September 2021. It has had 172 trading days so far, during which the EA has conducted 615 trades, maintaining a win rate of 78.69% and generating a profit of $7799.14. The maximum drawdown for this account is 40.7%, and this indicates a high risk of ruin.
Customer support
There is no dedicated support team for the EA. The vendor has shared an email address where you can drop a message if you require assistance. Alternatively, you can message them through the MQL5 website.
People feedback
User reviews for Champion EA on MQL5
At this moment, there are no reviews for this EA on websites like Myfxbook, Quora, Trustpilot, and Forex Peace Army. While there are some reviews on MQL5, we cannot consider them authentic.
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