Forex

Expert Advisors Reviews

Forex Real Profit EA Review - Is it scam or good forex system?

You may have heard about Forex Real Profit EA and decided to get more info on them. In this review we will give our honest opinion of their system, their results and most importantly whether we would recommend dealing with the company. 

 

Strategy

 
The strategy applied by Forex Real Profit EA is rather risky in hour opinion. They describe it as six separate robots, with tow of them scalping during the Asian Session, 2 scalping on trends, throughout the day and two breakout strategies. This may appear to be a diversified approach, but in this case we believe looks to be deceiving. Take a look at the hourly breakdown of their trading results:
 
 
Moat of the trades, by far, a done during the Asian session, when liquidity is relatively low. This approach can be quite dangerous in the long run. The risks come primarily from the broker – often times such scalping systems are being spotted and slightly worse executions are being assigned to the respective account. Keep in mind, with such a system, even the slightest increase in slippage, can have a great impact on the net results. 
 
The risks involved with this system are not of an account blow-up, but of a steady decline if the market execution is not ideal.
 

Historical Performance

 
Lets take a look at the historical performance of the Forex Real Profit EA system. The main account has been running on myfxbook.com since 2013, on an IC Markets account. The net absolute gains are 98.26% at the time of writing of this review. To put it simply the system has almost doubled the initial investment in about four years.
 
 
 
One of the most important things we must mention is that the system’s record on myfxbook is not verified. As you may know, this is one of the signs of a fake account with the tracking website. This fact lowers the credibility of the EA provider.
 
 
On the other hand, drawdown rarely moved above 15% since 2013, with the exception of an early spike. This is generally a good sign, as the system will most likely not blow up an entire account in the future. 
 
Now lest take a look at the biggest problem, in hour opinion, the average pips per trade. They amount to the uninspiring value of 1.9. We do not recommend using systems which have an expectancy of under 3 pips, with 5 being a more stringent minimum. For instance the iQuantFX system has a pips per trade value of 9.87, which is much better.
 

Pricing

 
The Forex Real Profit EA system is being sold at $199 per year. This may seem like a lot to somebody who is willing to experiment with automated trading systems. A 30-day money back guarantee is also being offered.
 
 

Bottom line

 
Forex Real Profit EA offers what is essentially a “night scalper” EA. These systems are very broker-sensitive. The myfxbook account for the system doesn’t have a verified track record. Most importantly, the system is a scalper, making only 1.9 pips per trade. The combination of all of these factors leads us to give Forex Real Profit EA a negative review. You are not likely to lose a lot of money with this EA, but you are also not likely to make decent returns. 
 
TAGS: Forex Real Profit EA  Forex Real Profit EA Review  Forex Real Profit EA Scam 
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
UK, Australia FCA, ASIC MT4, Web,
Mirror Trader,
Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, Web $100 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Cyprus FCA, CySec MT4, MT5 $5 Review Website
UK, Cyprus FCA, CySEC MT4, MT5,
cTrader,
SuperTrader,
FxPro Markets
$100 Review Website
Cyprus CySEC MT4, MT5,
cTrader
$300 Review Website
Belize IFSC MT4, MT5 $100 Review Website
UK, Cyprus, Bulgaria FCA, CySec, FSC Web $150 Review Website
Seychelles FinaCom MT4 $10 Review Website
Belize IFSC MT4, Web $500 Review Website
Cyprus CySEC MT4, Web $25 Review Website
Belize IFSC MT4, MT5, Web $1 Review Website
Cyprus CySec MT4, Web, Gwasy $100 Review Website

More Forex Expert Advisors Reviews

WallStreet 2.0 EA Review - Is it scam or reliable forex trading system?

May 16 2017 11:50:45

In this review we will showcase the wallstreet-forex.com automated trading system. You may have recently heard about them and be deliberating an investment. Be sure to read this review before making an informed decision. Read more

SFE Price Action EA Review - Is it scam or good forex system?

May 12 2017 11:14:11

SFE Price action is one of the most expensive EAs in the MQL marketplace. As such it attracted our attention for a review.    Strategy   The SFE Price Action trading robot is based on … surprise, surprise … price action trading. Read more

Vortex Trader PRO EA Review - Is it scam or good forex trading system?

May 11 2017 10:18:31

Vortex Trader PRO automated system attracted our attention as one of the most popular trading systems on myfxbook, which can not be followed directly through the site’s Autotrader service. We found this to be strange and decided to investigate the system. Read more

Forex

VolcanoFXEA Review - Is it scam or reliable forex trading system?

May 10 2017 13:52:40

At this point in time, you have probably already seen one of the “get-rich-quick” forex/option trading systems. In this review we will discuss VolcanoFXEA and determine if it is a scam or a legitimate investment opportunity. Read more

iQuant FX Review: Is it reliable forex trading system or scam?

May 09 2017 11:17:19

iQuant FX trading system is one of the rather popular ones at myfxbook and as such probably deserves your attention. Keep in mind there are a lot of “marketing experts” (read snake-oil salesmen) who have turned to the world of retail forex trading. Read more

Forex EAs and indicators account for 90% of Metatrader Market sales

Jul 30 2014 11:13:28

Metaquotes, the company behind MT4 and MT5 trading platforms, today revealed some statistics of the MetaTrader Market. The app store has a modest turnover of $522 000 since its launch in 2012, almost 70% of which have been made by the top 10 providers . Read more

MT4 Now Features Built-In Forex VPS

Jul 14 2014 13:00:45

Metaquotes, the company behind the most popular forex trading platform, announced today that the new MT4 Build 670 comes with a bundle of new features, including virtual EA hosting. Read more

Flex Expert Advisor: That's the Martingale Rock

Apr 18 2014 07:33:44

Today we'll be reviewing a very profitable expert advisor - the Flex EA, which however uses rather risky, gambling methods to deliver these gains. Read more

Caesar Expert Advisor: It Came, It Traded, It Profited

Apr 15 2014 09:41:41

Today we are undertaking a very interesting review – we'll be looking at the Caesar expert advisor, which as you see has a well-known name. Even if you've never been interested in the history of Rome or philosophy, you must have heard the phrase “Veni. Vidi. Vici. Read more

Forex inControl EA: Keeping Grip on Drawdown isn't Easy

Apr 14 2014 07:05:53

Today in our section for expert advisor reviews we'll be exploring Forex inControl, a robot that aims to keep a tight lid on all risky aspects of trading while being the phenomenon and the main trend of 2014. Read more

Forex