Achieving high returns in Forex is not a difficult task when you use an expert advisor. But choosing the right EA is important if you want good results. Cairo is an automated trading software created by Ruben Octavio Gonzalez Aviles.
Although Ruben has one year of experience in the field, he has developed 8 products, 3 signals, and 948 demo versions as per his MQL5 profile. Hailing from Switzerland, Ruben Aviles published the Cairo EA in January 2021. The current version of the EA is 1.43. With this FX Robot, the developer assures high profits citing the 99% profitable trades proven with historical backtesting.
When it comes to choosing the best FX robot, you need to look at factors like vendor transparency, track record, user feedback, etc. To make your task a breeze look at our list of best Forex robots that include all information you want in a precise and concise manner. Making an informed decision is easier with our best FX robots list.
Cairo Overview
Cairo is promoted as an EA using a dynamic and quick algorithm that provides 99% profitable trades in backtesting. The FX robot does not use high-risk approaches like grid or Martingale methods. The developer focuses on the backtest result citing the 99% profit.
However, there is no mention of the strategy used by the EA which is disappointing. We could find the input parameters for this ATS and the currency pair and timeframes recommendation. But the info provided is not sufficient to know about the working of the FX robot.
Pricing
Priced at $399, this EA is an expensive product. This price is an introductory offer provided for the first 10 copies and other copies will cost $499. A rental option is available for $249 for a month. The developer also offers a free demo version. There is no mention of a refund offer which is disappointing as it indicates the system is not reliable. When compared with other EAs in the market, the price of Cairo is certainly expensive.
How It Works
On the working mechanism of the EA, the developer mentions that each trade has fixed settings for stop-loss and take-profit levels. Ruben mentions that although you can change the value, the default settings work best for the performance he guarantees. This FX EA works mainly on the EURUSD pair but you can use it on other currency pairs. Input parameters of this ATS include fixing lot size based on the current balance, maximum spread and lot, magic number, trade comment, and more.
Trading Strategy
Ruben Aviles does not mention the strategy used for this EA other than mentioning that a dynamic algorithm is used. A backtest done from 2016 up to 2020 is shown on the MQL5 site with 100% history quality. The strategy test reveals an initial deposit of $500 and a profit of 111029 with a total of 99.81% profitable trades.
Trading Results
The MQL5 site does not reveal verified trading results. But we found a real USD account for this EA on the myfxbook site. The account uses automated trading and 1:500 leverage on the MT5 platform.
From the trading stats, it is clear that the account is losing money with a total loss of 37.31% and an absolute loss of 24.66%. A drawdown of 42.23% is present. For a deposit of $642, the account reveals a balance amount of $281. The sample size is small with the trading history starting from April 2021, up to May 6, 2021.
From the trading history, we could see the lot sizes are big indicating a high-risk approach. The profit factor is very low at 0.42. Comparing the backtest and real account trading results we can see several disparities. Further, the account is losing money contrary to the developer’s claim of profitable trades.
Customer Reviews
We could not find feedback from users for this FX robot on trusted review sites like Forexpeacearmy, Trustpilot, etc. The absence of user reviews indicates the EA is not a popular one among traders. Despite the developer having several other EAs, the lack of reviews raises a red flag.
