Unbeatable EA does not use martingale and hedging strategies to trade the markets. It closes all the trades within 24 hours while adapting to the market conditions. Our article will discuss if the robot works according to the promises made on the website and if you should invest in it as a trader.
There is no information on the website that dictates how long the service has been in place. The trading records on Myfxbook state that the EA recently came into the market as it started trading on June 25, 2021. The robot made a substantial 57.07% gain during this period which caught our eyes, and we decided to review it.
What is behind the Unbeatable EA?
The company does not provide a record of the developers of the program. There is no information on the trading experience and whereabouts.
How it works
The robot has to be placed within the experts’ directory of the MetaTrader platform. After that, traders have to enable auto-trading and attach the expert advisor on specific charts to begin trading.
Unbeatable EA has the following key features with their services:
- Offers free support with updates
- Provides verified testing results
- Does not use dangerous strategies such as hedge and martingale
- Closes all the trades within 24 hours to manage risk
The robot requires a minimum of $100 in deposit to work properly. It can be used on ECN standard and zero spread brokerages with a VPS.
The developer does not share the trading strategy utilized by the robot, so we head over to the history on Myfxbook to observe it. The EA trades on multiple currency pairs and holds trades for less than 24 hours which conforms to a day trading approach. At the end of the day, the robot will close out all the trades even if they are at a loss. It uses the grid method to help support trades that are losing.
Backtesting results are available for multiple currency pairs at the M15 time frame. There are no detailed statistics, and the developer only chooses to share the drawdown, initial deposit, and net profit. The drawdown hangs around 10% for all the pairs, with net profit ranging from $200 to $8000.
The robot is available through a monthly rent of $110, which comes with one live and one demo account. The algorithm is also at hand through copy trading via one of the mentioned brokers. The developers, however, fail to mention the actual process one has to adapt to enable copy trading.
Trading performance of Unbeatable EA
Live trading results are available on Myfxbook, which show performance from June 25, 2021, till July 09, 2021. Since then, the robot has had an average monthly gain of 57.07%, with a drawdown of 12.71%. The drawdown value will likely increase in the future as the robot is using a grid trading that is risky.
There were 77 trades in total, with 0.77 lots traded. The expert advisor traded with a winning rate of 78% with a profit factor of 3.63. The best trade was $5.69, while the worst one was -$5.24. The developer stopped trading because he might have wanted to show good results and avoid the period of high drawdown that would sabotage his selling scheme.
Customer support is available through the mail, skype, and by filling out a form on the website. Skype is available Monday to Friday from 09:00 AM to 05:00 PM (CET)
There are no customer reviews available on Forex Peace Army, which shows that no one has tested the system as of now. Traders are probably afraid of the implementation of the grid strategy, which is risky.