EA Thomas uses a unique trading algorithm to ensure accurate entries. It uses five different approaches to identify and execute precise orders. This FX EA is fully automated with the author providing a detailed installation guide and other info on the settings and for choosing the best broker.
Vitali Vasilenka is the author of this FX robot. He is based in Belarus and is the metaverse creator at EA Quantum Lab. He has one year of experience in the FX industry and has created 21 products and 21 signals. EA Last King, EA Flower, EA Goofy, and EA Surfer are some of the FX EAs of the author.
Finding the best FX robot among the abundant choices available in the market can be an overwhelming task. You need to analyze various aspects like the features, functionality, support, performance, etc. for each of the systems. To make an otherwise impossible task a breeze, we have compiled the best FX robots available now. Check out our list and pick a suitable system without any hassle.
EA Thomas overview
Some of the key features of this FX EA that the author claims make it stand apart from other competitor systems are:
- The EA uses an algorithm that combines the strategies of five expert advisors namely the EAs Golden Elephant, New Way, Goofy, Flower, and Donald Duck.
- It uses two main trading modes namely the conservative and the aggressive mode of trading.
- A minimum balance of $500 is recommended.
- The minimum spread recommended is up to 30 pips.
- Slippage of a maximum of 5 points is allowed.
- The recommended timeframe is H1.
- It works best on the XAUUSD currency pair.
This FX EA is available on the MQL5 site for $49. However, the author states that the price will increase to $499. A free demo account is present. The author does not provide details on the features available with the package. No money-back-guarantee is provided for the product which raises suspicion about its reliability. When compared to the market average, we find the discounted price is affordable, but the price after the sale ends is expensive.
How it works
As per the author, the EA evaluates 5 different entry points on different timeframes at the same time, and based on the risk level set, it picks one entry point. The features of the system allow you to select the strategy and the timeframe you want for choosing the entry points.
This FX EA uses the five different strategies namely the trend direction, trend reversal, flat definition, HFT systems order management, and determining the trade volume. The author claims that you can choose which strategy you want to be active while using the EA. A few backtesting results are present on the official site. Here is one of the backtesting reports:
From the above report, we find that the backtesting was done from January 2019 to March 2022 on the XAUUSD pair using the M5 timeframe. For an initial deposit of $1000, a total net profit of 16565611 was generated. A total of 89682 trades were executed with profitability of 96.44% and a profit factor of 1.41. The maximum drawdown was 6.95%. From the results, it is obvious that the system used a low-risk approach and the high profits indicate good performance.
The author provides a live real trading result for the FX EA on the MQL5 site. Here is a screenshot of the trading stats and growth curve:
From the above info, we can see that the account that started on May 6, 2022, with a deposit of $100 shows 188.32% growth. A total of 413 trades have been completed with a profitability of 86% and a profit factor of 2.09. The maximum drawdown is 31%. Due to the small sample size, we find the results are random and cannot be used to evaluate the performance. Further, when compared to the backtesting results the real trading shows a higher risk and the profits are lower indicating the performance is not that good in the real trading as seen in the backtests.
The MQL5 site has 15 reviews for the MT4 version with a rating of 4.6/5. While the reviews are positive, we could not find third-party reviews from sites like Forexpeacearmy, Trustpilot, etc. to support them. Since the product is promoted by the site, the reviews may be manipulated so we cannot consider them.