EA Super 8 is a Forex expert advisor that is designed for aggressive trading. The MT4 version of this system was launched on 18th August 2021, while the MT5 version was released on 14th October 2021. It is available for the price of $149. The vendor offers a free demo version of the robot for testing purposes, but there is no money-back guarantee offered.
Is EA Super 8 good?
Compared to other EAs on the market, EA Super 8 is quite cheap. The minimum starting amount is quite low, which makes it suitable for beginners. Nevertheless, the EA is not supported by verified trading statistics. Also, there is no refund policy.
Features of EA Super 8
The minimum account balance for this EA is only $100. It is a fully-automated trading system with in-built methods for determining the direction of the trend. The vendor recommends keeping your reserve funds in a personal account and withdrawing a profit daily after completing the trades.
After each withdrawal, the user should summarize their profit on an account separate from the reserve funds. This should be done until they make a profit equal to the amount stored in the reserve funds. If there is a loss of deposit, you should start over with $100.
|Trading Terminals||MT4, MT5|
What strategy does EA Super 8 use?
The vendor has not clearly explained the trading strategy used by this expert advisor. We know it gauges the direction of the trend, but apart from that, we have no information on what indicator it uses or how it identifies profitable trading opportunities. Without strategy insight, it becomes difficult for us to determine what kind of trading style this EA is suitable for.
Backtesting vs live trading results
From January 2013 to June 2021, the EA conducted a total of 230658 trades, winning 70.45% of them and generating a total profit of $97121.75. The relative drawdown for this test was extremely high at 67.73%. This tells us that the robot was following a risky trading strategy that leaves the user’s account open to heavy losses. There were 43 maximum consecutive wins and 14 maximum consecutive losses during the testing period. The profit factor was 1.80, which can be considered good.
The vendor has shared any links to verified live trading accounts on third-party websites like Myfxbook, FXStat, and FXBlue. There is a trading account on MQL5 that was launched on 12th December 2021. However, the vendor has not yet placed any trades through it. They have made a deposit of $10,000 for this account, but with zero trades, there is no way we can assess the profitability of the system. Also, it is not possible to compare the live trading performance with the backtests.
The core team
Vitali Vasilenka, the chief developer of EA Super 8, is a resident of Belarus. They work as a metaverse creator at EA Quantum Labs. According to their MQL5 profile, this person only has one year of experience. They have shared a phone number and the link to a Telegram channel. However, we don’t know anything about the other members of the team, if any. Also, there is no background information on the developer. Their other products include EA Bionic, EA Flower, EA Syntax, EA Golden Moon, EA Smoke, EA Golden Elephant, and EA Quantum Lab.
What are the pros and cons of investing in EA Super 8?
|Affordable price||No verified trading statistics|
|Small starting balance||No money-back guarantee|
|Backtesting results||Lack of strategy insight|
|Lack of vendor transparency|
As you can see, there are several downfalls to this system. Without verified trading results, we cannot determine whether the EA can win profits in the live market. There is a severe lack of information when it comes to the development team. Moreover, it seems like the EA is not used by too many people belonging to the Forex trading community.