Profiting from the lucrative prospects in Forex requires patience and skill. But many a time, even the most professional traders can lose a lot. This may happen due to impulsive trading, revenge trading, or allowing losing trades to run for a long time. But with the help of automated systems, the emotional quotient can be done away with.
100% Monthly EA claims to be an effective tool using technical signals for entering trades. As per the vendor, the system can identify the best prospects and get you real jackpot returns. There is not much info available about the developer, location, or the team behind the system.
Choosing the right expert advisor is not an easy task. You have to analyze various aspects such as the features, performance, price, and more for each of the systems. Luckily you can save time and effort on analyzing the Forex robots by having a look at our best Forex robots list. In this review, we analyze the 100% Monthly EA system providing you with the results of our analysis and our recommendation on using the system.
100% Monthly EA Overview
According to the information that the developer provides, this is a unique system. He has created IT with the help of his partner with more than a decade of experience in trading. The main focus of the system is to use technical signals for making the trades.
Some of the key features highlighted by the developer include unlimited profit with a single setup without any prior trading knowledge. The system trades all the major currency pairs. When compared to other contemporary Forex robot systems, the developer does not reveal much info about the system. Find below information about the pricing of the system and its working mechanism.
From the info provided on the official site, we could see three different packages on offer for interested users. The subscriptions provided include the Get Signals pack, Rent EA, and Buy EA packages.
With the Get Signals package, you get daily EA signals, precise entries, updates, and 100% monthly return potential. The Rent EA and Buy EA subscription packages include automated trading, precise entries, automated trading and risk management, MT4 compatibility, and one-time installation. We could not find the cost of these packages as the developer does not disclose them.
How It Works
To use this system, you need to first order from the subscription packages available. After installing the copy, link it to your MT4 account and start trading. The EA is capable of eliminating all the possible losses by trading all the major pairs and the stable crosses and by using the multiple pattern trading approach.
While the developer assures of using a unique strategy to bring about 100% profits every month, he does not divulge information on the approach used. Other than the mention of using multiple patterns for its trading strategy we could not find an explanation of the strategy used. This makes us suspicious of the reliability of the system.
Backtesting verified by the Myfxbook site is provided by the developer. Here is a screenshot of the results:
While the model type is every Tick, it is of 90% quality only which is not sufficient to find out details like the slippage, spread, etc. The trading stats provided for the test started in January 2020 up April 16, 2021, reveal a total gain of over $633M. For a deposit of $1000, the daily and the monthly profits were 2.38% and 102.53%. A drawdown of 19.97% is shown. During the backtesting period, a total number of 11619 trades have been executed with a profit of 24655.2 pips. The profit factor was 4.64.
Real account trading results verified by the FXBlue site are revealed by the developer. Here are screenshots of the results.
The results indicate a trading history of 16 days for which a monthly return of 290.3% and weekly return of 38.3% are revealed with a balance of $5499.58. A profit factor of 2.73 is shown. The drawdown is 12.7%. Compared the real account results to the backtesting the drawdown, profit factor, and other values differ largely. Due to the small sample size, we are unable to assess the performance properly.
We did not find user reviews for this system on trusted third-party review sites such as Forexpeacearmy, Trustpilot, etc. The absence of user reviews reflects badly on the system as without reviews a trader will not be able to rely on the system. User reviews, especially unbiased reviews help reveal the performance of the system, its strategy, price transparency, support, and several other pertinent features.