Red Horse EA Review

by Forex EA Top Team
Red Horse EA

Red Horse EA is an FX robot designed to trade on gold. As per the vendor, the system can provide high profits and minimal losses. Sinry Advice is a company based in London, UK. It is made of a team of experienced FX traders and developers. The company boasts of 8600 active members and claims that its main mission is to provide transparent and legitimate results for users. Werewolf and TJ10X are the other products of this company. 

Transparency is one of the important criteria to know whether a system is reliable or not. There are many other factors that you need to consider to know about reliability. With so many FX robots available now, it is difficult to analyze each product. Luckily, we have done all the hard work for you. All you need to do is have a look at our list of the best FX robots. We have used all the key criteria needed for assessing the systems so you can easily pick one that suits your needs.

Red Horse EA overview 

The main features of this FX robot that the vendor claims make it competitive are:

  • It can evaluate technical and fundamental news.
  • The FX EA uses a customizable news filter.
  • It works only on the XAUUSD pair on the MT4 terminal.
  • It uses money and risk management.
  • The ATS has a maximum drawdown limit of 9.7% .
  • The maximum monthly profit you can expect for this ATS is 12% to 23%.
  • A minimum of $1000 is recommended for the EA.
  • An ECN or standard account type can be used.
  • A timeframe of 5 minutes is recommended.
  • The recommended leverage is 1:500.

Pricing

To purchase this FX EA, you need to pay $495.60 per year or $59 per month. The vendor offers a free trial of 14 days for both plans. One real account and one demo account are provided with the package and you can activate only one account at a time. A total of 2 account licenses are given. When compared to the price of other competitor systems in the market, we find the pricing is exorbitant and not worth it.

How it works

According to the vendor, this is not a fully automated system. All users are connected to a chief trading system that is under the control of the expert trader team of the company. The main system uses the provided approach but the traders fix the features like the time, drawdown, duration, and other features. As per the vendor, this approach prevents the risk of big losses as the trading activity is monitored by experts. 

Trading strategy

The Top-bottom method is used by this FX EA. It is based on market volatility and volume. The expert advisor combines the method with a smart signal to help the EA place a sell or buy order. The signal method of the FX robot helps to understand market sentiment with an accuracy rate of 85%. When the price moves past the set level, the grid will be activated. The vendor states that this MT4 tool does not use time sessions and uses many scalping systems capable of three trading methods in a single robot.

Trading results

No backtesting results are present for this FX robot. But a live demo USD account verified by the myfxbook site is present. 

Growth curve of Red Horse EA on the Myfxbook site.
Trading stats of Red Horse EA on the Myfxbook site.

From the above screenshots, we can see the system has generated a total profit of 30% with daily and monthly profits of 0.21% and 6.36%. A drawdown of 19.85% is present. For a deposit of $1000, the account started in November 2021 shows a profit of $300. A total of 508 trades have been executed with a profitability of 74% and a profit factor of 1.40. From history, we can see lot sizes of 0.01 and 0.02 are used. 

From the results, it is clear that the drawdown is higher than what the vendor promises. Further, the profits are not as high either. Moreover, the small sample size and the fact that this is a demo account make the results random. We also do not have backtests to compare the live account results with. 

Customer reviews

User review for the Sinry Advice company on the Trustpilot site.

Unfortunately, we could not find user reviews for this FX EA on reputed sites like Forexpeacearmy, Trustpilot, etc. However, we found 115 reviews for the company with a rating of 4.1/5.

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