Traders looking to reap big returns from Forex trading will find the automated Forex trading systems useful. With automated trade settings and options to customize these applications reduce the hassle and increase the profit. The 100% Monthly EA is a Forex robot that claims to give a 100% monthly return. This system makes use of technical signals for its entries and exits. The vendor promotes the system claiming that is accurate and reliable. Do you want to know more about this expert advisor? Here is a comprehensive review of the system by our expert analysts.
100% Monthly EA: Characteristics
This Forex robot follows a simple setup and working mechanism. After purchasing the EA copy, you can start trading with it in a few steps. Downloading, installation, and linking to your MT4 account are the steps you need to complete to begin.
Features of the system include the opportunity to make unlimited profits with a single installation and the ability to trade major currency pairs and stable crosses. According to the vendor, you do not need to have prior knowledge in trading to use the system.
Currency Pairs, Strategy & Timeframe
A multiple pattern trading approach is used by this expert advisor. The vendor does not provide further explanation of how the approach works. This makes it difficult to understand the strategy used and its effectiveness.
We could not find information related to the developer or the team behind the system. The vendor does not divulge info on the location and there is no phone contact info for this system. All these aspects indicate that the system lacks vendor transparency in a big way.
100% Monthly EA Trading Performance
Backtests verified by the myfxbook site are posted by the vendor on the site. Find below a screenshot of one of the backtests:
From the above images, we could see the trading stats of the system. A total profit was $6.34M and the daily and monthly profits were 2.38% and 102.53% respectively. We have also found that the drawdown was 19.97%. The test began in January 2020 and ended on April 16, 2021. In just a year or more, the system performed 11619 trades. The profit factor was high – 4.64%.
Real account trading results verified on the FXBlue site are also revealed on the official site. The image below indicates the trading results.
From the trading stats, we could see the monthly return is at 277.1% while the profit factor is 2.88. The deposits amount to 3036.84 with the balance being 5,743.91. A drawdown of 12.7% is present for this real USD account. However, the trading history is for 19 days which is a small sample. With such a tiny sample we are unable to gauge the performance effectively.
How Much Does It Cost?
Get Signals are priced at 35USD/month, Rent EA at 79 USD/month, and Buy EA at 1399 USD. The Get Signals package includes daily signals, updates, accurate entries, and signals available in all the trading sessions. With the Rent and Buy packages the features included are automated trading, unlimited profit opportunities, and automated trade and risk management. As per the vendor, all three packages are MT4 compatible and come with a 100% monthly return prospect. Compared to the competitor systems in the market, the price is exorbitant and we do not consider it worth the investment.
Reviews From Customers
We found a couple of user reviews for this expert advisor on the Forexpeacearmy site. Here is a screenshot of the reviews:
From the reviews, the positive review indicates that the risk present is low when compared to the profits. The other review is a negative one pointing to the system showing a big drawdown which the user states is evident from the backtest result.
Should You Use 100% Monthly EA?
|Fully automated expert advisor||The trading strategy is not disclosed|
|Verified trading results||Expensive pricing|
|No money-back-guarantee offered|
Summing up the 100% Monthly EA review, we find this system is too expensive and does not show the necessary performance that can justify its price. Furthermore, several other factors prevent it from being a reliable system. The lack of vendor transparency, failure to explain the trading approach used, and absence of refund policy are major downsides in this system.
While the vendor provides verified backtests and real account trading results, the sample size is very small which makes it difficult to arrive at a proper decision on the efficacy of this trading tool. The total number of trades executed during the backtests done over 14 months is very high. Further, the lot size and the modeling quality are not revealed. With so many shortcomings you can see that this is not a system you can rely on.