Promax Gold EA is a trading solution that can help us with trading Gold. There’s a SinryAdvice company behind this service. The developers claimed that the system performs automatically and has a smart news filter. It’s time to figure this out.
Without a 50% discount the system costs $388. The package includes a real account copy of the robot, updates, upgrades, and a refund policy during 14 days.
Is Promax Gold EA good?
We don’t know this for sure. Trading results look dangerous because of several huge losses in the past.
Features of Promax Gold EA
The presentation includes details about the system and its features. We have united information in the following list:
- The robot can work for us automatically, without a need for human interaction.
- It shouldn’t be used during high impact news periods.
- We can expect to receive from 20% to 40% monthly.
- It manages lot sizes only with available margin.
- The only platform to trade is MT4.
- It’s possible to work with default settings.
- We can work on a demo or real account.
- The developers won’t charge us for extra payment.
- The system will receive free updates or upgrades.
- It can be deployed to trade within several minutes.
- We have to work on a raw-spread account.
- We should expect to work with big drawdowns from time to time.
- The robot doesn’t support manual trading during its performance.
- We shouldn’t use other advisors either.
- The account can be mini and cent.
- It’s possible to work only on a VPS service.
- If we need broker advice, it’s possible to ask developers directly.
- They suggest we work with Opoforex broker.
- The leverage is 1:500.
- We have to trade on the account with over $1000 on it.
|Strategy||Price Action and Scalping|
|Money Refund||14 days|
What strategy does Promax Gold EA use?
- We can work with strategies like Price Action and Grid.
- The robot trades Gold only.
- The time frames weren’t revealed.
Backtesting vs live trading results
We don’t have backtest reports provided. It’s a con because visitors will have no idea how well the system was tested and what results we should wait from it.
Promax Gold EA runs a real Opoforex account with 1:500 leverage on MT4 automatically. The account has a verified track record. The account has been existing since April 25, 2021. The devs deposited the account at $100,000. It’s a significant amount of money. Since then, the total gain amounted to 81.88%. An average monthly gain is 4.70% only. The maximum drawdown is 36.35%. We’d like to note that drawdowns are high and many convervative traders can’t tolerate them.
Promax Gold has executed 782 orders. It obtained 19,319 pips. The robot with a win rate of 77% for the long direction and 78% for the short direction. An average trade length is four hours and 55 minutes. The profit factor is 1.44. It’s still less than the average number for paid advisors – 1.60.
The robot works with moderated risks. There should be 16 deals lost to lose 10% of the account balance.
We may note that it works with deep SL levels, -711 pips.
Trading this year doesn’t look stable and predictable.
The core team
We have 92 reviews published that formed a 4.9 rate.
We have positive testimonials written from clients about how well the works for them.