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Robinhood FX EA Review

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Robinhood FX EA

Not much to our surprise, Robinhood FX EA is promoted as one of the most lucrative Forex robots for the MT4. The vendor believes this to be true because the system knows when to open and close positions and engage in good trades to optimize profits.

Information on the company that created this EA is missing. For this reason, we do not have answers to questions like: ‘What is the profile of the company involved?’, ‘When was it founded?’ and ‘Has it created other trading tools for Forex?’

Robinhood FX EA is a new trading system that went live in the market just a few months ago. As seen earlier, the vendor has clearly stated that the bot can make good profits for the trader. Therefore, we seek to establish if this EA is worth it by evaluating the truthfulness of this assertion.

What is behind the Robinhood FX EA?

Robinhood FX EA is a specialized program developed to execute several trading functions using algorithms. It may place trades automatically or inform the trader when to enter or exit the market. It also manages the trades on behalf of the user.

Key features

Robinhood FX EA is characterized by the following:

  • Real capital management.
  • Advanced stop-loss technology.
  • Works in all market situations.
  • Mainly trades the EURUSD currency pair.
  • Works with all brokers.
  • Built-in magic number.
  • The time frame used is H1.
  • Minimum recommended balance is $100-$200.

Trading strategy

The vendor hides the fact that the grid strategy has been incorporated into the system. This shows that they are not concerned about the interests of the trader’s investment. Grid is known to be very dangerous. Therefore, informing the target customers about its presence is key to helping them make an informed decision when it comes to procuring the EA.

Backtest data

Backtest data

The effectiveness of this robot’s in-built strategy was tested for 4 years, and the results show that from a deposit of $900, a profit of $1,564,437.07 was created. However, we believe that this profit amount cannot be attained in the real market within the said testing period. Out of the 1251 trades performed, the robot won 87.29% of them. Success rates of 96.55% for short positions and 84% for long positions were achieved. The maximum drawdown was 14.83%.

Pricing

Traders who are interested in this EA need to know that it has 3 pricing plans. The first package costs $127, and it integrates 1 real account and 1 demo account. The second one is $147. It includes 2 real accounts and 2 demo accounts. The most expensive plan is the basic pack ($167), and it comes with 3 real and 3 demo accounts. The vendor offers a 30-day money-back guarantee.

The robot’s pricing options

The robot’s pricing options

Trading performance of Robinhood FX EA

Trading results

Trading results

So far, the EA has grown this account by $300.37. This is after executing trades for 62 days. The monthly return is 41.9%. The  trades won (85.1%) are nothing out of the ordinary.

Monthly profits from July 2021 to September 2021

Monthly profits from July 2021 to September 2021

The profits made by the robot have been decreasing in subsequent months.

Trading history

Trading history

The EA uses a grid of orders to make profits.

Account risks

Account risks

The probability of losing this account is low, i.e., 5.5%. The average win is $8.56 whereas the average loss is -$6.03. The risk/reward ratio, which is 2.49, does not raise serious concerns about the survivability of the account. The EA made $31.88 in its worst month.

Customer support

You can reach the support team either through email —[email protected] or via phone, i.e., +48 12 635 85 05. The vendor says that they respond to customers’ questions as soon as possible. But they have not indicated the time they take to reply.

People feedback

As far as customer reviews are concerned, we found one on FPA. This client says that Robinhood FX EA is really good. According to him, the system was able to hold profits in volatile markets. Be that as it may, we need more feedback to establish if other customers feel the same about this tool.

Client praising the system for being good and distinctive

Client praising the system for being good and distinctive

Robinhood FX EA Summary: Worth it or not?

6

Based on our findings, we can comfortably conclude that Robinhood FX EA is not worth it. By failing to mention their real identity, the developers create lots of doubts regarding their proficiency in Forex trading. They have also trivialized the importance of providing the audience with insight on the grid strategy in use. As such, they willingly put traders at risk of losing money. So, the vendor cannot be trusted.

  • Live trading results are available on FXBlue
  • A 30-day money-back guarantee is present
  • The vendor is unknown
  • The EA is working with the grid strategy
  • Customer feedback is inadequate

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