Promax Gold EA is an all-new trading advisor that was released under a Sinry Advice label. The company became quite known among other Forex-related firms. The second label which they run is My EA Academy. The system focuses on trading Gold. It’s introduced like a “Gold Trading Robot with Smart News Filter.” So, let’s check it up.
Promax Gold EA Strategy
- The advisor executes a Grid plus Martingale strategies.
- We can trade XAUUSD.
- The advisor works on the M5 time frame.
Promax Gold EA Features
Let’s talk about the features and the offer:
- The system can trade for us fully automatically.
- The only symbol to trade is Gold (XAUUSD).
- The time frame is M5.
- The system has a well-designed news filter that checks the news feed.
- We can expect that the monthly profit can be from 20% to 48%.
- The system calculates Lot Sizes automatically.
- The advisor is designed for MT4.
- The robot works with default settings well.
- The package is featured by a real and demo license.
- The offer is a one-time payment.
- There are free updates and upgrades.
- The setup process takes several minutes.
- The best results can be obtained on an ECN account only.
- The minimum balance should be $1000 or higher.
- We have to send info about a number of our demo and real account via email to support.
- The robot can sit in long drawdowns.
- We have to avoid trading on this account during EA’s performance.
- Using other robots on this account is not allowed.
- Mini or Cent types of accounts are not allowed too.
- The advisor requires a VPS service.
- The developers can provide us with info about a good VPS service.
- Opo Forex is a recommended broker.
- The leverage should be 1:500.
The lifetime copy costs $198. The original price was $390.
We can rely on the 14-day money-back guarantee.
Promax Gold EA Backtesting Results
The presentation doesn’t include backtest reports. It’s a disadvantage because we can’t compare past trading activities with available trading results.
Promax Gold EA Live Trading Results
There’s a well-deposited $100,000 account on Opoforex. The advisor trades automatically. The leverage is 1:500. The platform is Metatrader 4. The account has a verified track record. It was created on April 25, 2021, and funded at $100,000. Since then, the absolute gain has become 18.7%. An average monthly gain is 14.60%. The maximum drawdown is 4.11%. Forty-seven traders track the account.
The robot has traded 138 deals with 13,177 pips. An average win is 161.78 pips when an average loss is -254.09 pips. It trades only the BUY direction (116/138). The accuracy rate is 84%. An average trade length is 46 minutes. The Profit Factor is 3.99.
The system has determined periods when to open trades.
Monday (30 deals) is the less traded day.
It executes orders without huge risks to the account balance.
We could note a Grid with Martingale combo.
The system is profitable so far.
Promax Gold EA Reputation
The presentation includes some fake testimonials, as usual.
All comments are positive. The most important thing is that there were not that many clients because the system is not even two-month-old.
The company runs its Telegram profile with 1937 subscribers.
We can’t believe any developer pays $7900 to learn to develop and sell EAs.
Promax Gold EA Review Summary
- Strategy – score (5/10)
- Functionality & Features – score (6/10)
- Trading Results – score (6/10)
- Reliability – score (5/10)
- Pricing – score (9/10)
Conclusion
Promax Gold EA is a several weeks old trading advisor that trades Grid and Martingale strategies on Gold. The advisor showed two months with profits. The system wasn’t introduced with backtest reports. The offer includes only a 14-day money-back guarantee and, as usual, we’re not allowed to change a real account number for free – we have to buy another license.
