Today’s review looks at an expert advisor called Rev Trader Pro. This fully automated robot was created by a former money manager and forex trader, Doug price. It works on the MetaTrader 4 platform.
Doug claims that this EA is used by wealthy clients worth $10 million. Our analysis will examine if this robot is a money maker or it’s just another scam. Is it suitable for forex beginners? We also look at the performance stats and customer reviews.
What is Rev Trader Pro?
Rev Trader Pro is a fully automated forex robot. From the website, it is apparent that the developers are targeting high net individuals. Moreso, it claims to teach a free, simple method that eliminates risks and false trade signals.
The website states that this EA uses multiple strategies to win trades. The developer utilizes a trade reversal detection technology. This unique tech uses the developer’s experience in forex trading to detect potential reversals. Moreover, the EA uses a false signal detection technology that works hand in hand with trade reversal detection technology. This technology also helps to spot and avoid possible bad trade signals.
The EA also uses a strategy based on account risk management. This helps traders specify their risk settings at any time during trading. To lock in profits, this robot uses a dynamic trade operation management approach. The website claims that this assists the account grow greater and smoother. Other notable approaches this robot uses include alert options to let you of trade options, email notification and ECN/Multi-Digit compatibility.
From the website, it is clear that the developers do not endorse martingale or the grid strategies to trading. However, this EA works with multiple currency pairs, including EURUSD, GBPUSD, AUDUSD, and NZDAUD.
Now let’s look at the performance and customer reviews.
Rev Trader Pro Review
The developers have not provided backtests. However, they have shared their verified real account and personal statements. The real account put up at Myfxbook shows impressive results. With an initial deposit of $4,975, the account grows by a profit of $173081 over a period of 3 years.
The monthly growth stands at 9.6%, while the drawdown stands at 24%, which is not bad. The only downside is that updates stopped in 2017; therefore, we have no idea of the current performance.
From the profit and loss statement shown on the website, over a span of 2 years, the developer was able to make $193k. This was from an initial deposit of close to $4,000.
Please note that we cannot independently verify this account statement.
This EA is a part of ClickBetter Affiliate Network. The developers are offering a 60-day money-back guarantee if a trader is not satisfied with this product.
We checked out various reputable sites to get a feel of how this EA is performing. The majority of the users who reviewed this robot seem to have had a positive experience. Note that these reviews were written between 2014 and 2017.
Verdict: This EA uses multiple strategies to assist traders realize profits. However, we are concerned that updates and reviews only date back to 2017. Currently, despite some EA market places pushing this product, we have no idea how it would perform.
Therefore, we advice you to be extremely cautious. This is especially for forex trade beginners.
Rev Trader pro by Doug seemed to have started off extremely well. This EA showed real promise due to the amazing results posted. Even the customer reviews were above average.
However, we recommend that you keep off this forex robot for now. Reasons being that updates for their real money account ceased updating in 2017. Consequently, we have no basis for how it would perform now.