In today’s post, we review the Exreign Forex EA. It is a fully automated robot that operates on the MetaTrader 4. The developers claim that this EA is suitable for both professionals and beginners.
We carry out a deep analysis for this forex robot. We examine the strategies this EA uses, the performance statistics, and the user reviews.
What is Exreign Forex EA?
This is a fully automated robot that makes trades without intervention. When publishing this post, the website is just like a placeholder without any meaningful information about this EA.
However, we dug around the internet to come up with a conclusive overview for this EA.
In terms of strategy, this robot is developed with inbuilt cutting edge trading indicators to help traders make profits.
Some of the features for this EA include:
- Possibility to set risk preference, the EA can trade without any manual interventions.
- Ability to handle and manage trading signals.
- Inbuilt with pre-configured algorithms to ensure success in trading
Benefits of Exreign Forex EA
Some of the advantages listed for this EA include:
- The EA has the full ability to handle and manage trading signals without interference.
- Fully pre-configured with the best trading algorithms for guaranteed success in your Forex trading business.
- Automatically trades across multiple strategies in diverse market conditions, with the potentials to help you win more.
- Takes care of the technical & fundamental analysis, as every calculation is already built-in within the system.
This EA trades in several currency pairs including GBPUSD and EURUSD with a 30-minute timeframe.
Lets now look at the user reviews and performance data. Finally, we give you our verdict for this EA.
Exreign Forex EA: Performance Statistics
We could not find any backtests data for this EA. However, we found a real money account hosted on Myfxbook, although updates stopped in 2019. The account is a USD account set up at the Fort Financial Services broker.
The results shown are encouraging. Gain for this EA over a span of 1-year stood at 134%. Monthly growth was 9.4%, while drawdown stood at 22.4%. This was from an initial deposit of $4,400. Moreover, the EA was able to get a profit of $5,912. However, absolute and overall gain are similar.
Data from FX Blue show similar results. The real account hosted here was also last updated in 2019. Profits stood at $5,912 for a period of one year. Total return over a period of 284 days stood at 134%. On the other hand, monthly return stood at 9.2% and a profit factor at 1.49. The EA averaged at least 5.8 trades per day.
Like the account on Myfxbook, this FX Blue real account stopped updating in 201.
We searched for customer reviews from reputable sites. From what we could find, it seems that users did not believe this EA is legit. One review complained about user support. Apparently, once one pays for the EA, the support team goes silent.
More customer reviews from other sites suggest the same case. Some users point out that the EA has poor customer service while others never got a refund.
We dug around to try and find any information about the creators or developers of this EA. It is important to understand the background information of the developers. These are individuals/companies that you will entrust your investment. Therefore, it is not a confidence booster when their information is lacking.
However, we checked on WHOIS to try and find out more. The website belongs to a company registered in San Mateo, California.
The website does not state anything about a refund policy. At this point, we take focus on customer reviews which indicate that the owners do not offer a money-back guarantee.
This means that once you purchase this EA, you have no chance to recover your money if the EA does not operate as advertised.
Market places pushing this EA suggest that it is friendly to both pros and beginners. For a starting price of $129, this forex robot is inexpensive.
However, we do not recommend this EA. We believe that there are other EAs with better chances of success. First and foremost, updates on real accounts ceased in 2019. Therefore, we do not know how the EA is currently performing. The other red flag is that the website is just a placeholder without meaningful information. Moreover, user reviews suggest that this EA and its team are not to be trusted.
Our Final Thoughts
We did not find a comprehensive explanation for the strategies used for this robot. Moreover, the website is inactive, and customer reviews are not the best.
We do not recommend this forex robot for beginners or even seasoned traders.
If you have used this EA before, please leave a comment below. Tell us about your experience.