BuySellSeriesEA is an automated system that assures high monthly profits with accuracy. This FX EA provides precise trade entries and exits without manual intervention. As per the vendor, the MT4 tool has a simple installation process that does not require any elaborate steps. Besides the instruction manual and support provided also help in easy setup and use of the software.
According to the vendor, this FX EA is a robust system that uses market volatility to generate monthly profits. The system claims to make more than 100% profit regularly without any risk of losing your capital. As per the MQL5 site info, Chukwudi Joshua Obiekwe is the developer of this MT4 tool. He is based in Nigeria and has 3 years of experience in the market with 2 products and 5 signals to his credit. High performance, full automation, and easeofuse are the main features of this ATS.
Currency pairs, strategy & timeframe
The developer recommends using the EURJPY and the GBPUSD pairs for trading but states that the system can support other currency pairs too. The minimum balance needed is $100. Trading using a low spread broker is another recommendation of the developer. A one-hour timeframe is used for this EA.
This MT4 tool uses the trend analyzing strategy with the support of News Filter and Candlestick pattern. There is no further explanation of the trading approach which makes us suspect its dependability. The developer claims that the system trades daily based on its strategy.
We could not find backtests as the developer explains that backtesting does not work due to the constant changes in the market and also because they are not a precise indicator of future performance. Further, the developer states that the inbuilt algorithms in the FX EA are not detected in backtests so backtesting. He recommends testing the system by forward testing using real data.
BuySellSeriesEA trading performance
On the official site, the developer provides a few demo and real trading account results. Here is a real USD account using the FBS broker and mixed trade setting with the leverage of 1:500 on the MT4 terminal.
From the images above we can find that the total profit is 191.66% and the absolute profit is 119.52%. A daily and monthly profit of 1.25% and 45.07% are present with a drawdown of 90.13%. A deposit of $273.42 is present with withdrawals amounting to $200. The account was started in June 2021 and until now it has completed 684 trades with a profitability of 80% and a profit factor of 2.20. The lot size is not known as the developer does not reveal the concerning details. The hidden info makes us suspect the approach used is risky and can result in a huge drawdown and big losses.
How much does it cost?
A rental package and an outright purchase package are offered by the vendor. While the former costs $200, the latter is very expensive and costs $700. The features included are the software license, free support 24/7, free demo accounts, and updates. Compared to the cost of other similar FX EAs in the market, we find the cost is expensive and not worth it.
Reviews from customers
We could not find user reviews for this FX Robot on sites like Forexpeacearmy, Trustpilot, etc. We look for feedback from such sites as they are reputed for their unbiased testimonials from users. Without reliable feedback, we are unable to know about the performance, support, strategy effectiveness, and more. The absence of reviews also indicates this is not a popular expert advisor.
Should you use BuySellSeriesEA robot?
From our evaluation of this expert advisor, we find that this is not a trustworthy product. Some of the main factors that have made us come to this conclusion are listed in the table below.
|Fully automated software||The trading approach is not explained|
|Verified trading results||High drawdown in real account trading revealing ineffective strategy and poor performance|
|The product is overpriced|
BuySellSeriesEA claims to be safe and profitable. Our assessment of the strategy used, the performance revealed by the developer, and other factors reveal that this MT4 tool is not a reliable product. Besides not revealing much info on the features, the ATS does not provide backtests. While it is true that the backtests do not predict a similar performance in the future, they still serve as a method for testing the strategy and efficacy of the product. The absence of backtests and reviews for this EA makes us doubt the reliability of the FX EA. Furthermore, the product is overpriced which makes it out of reach for many traders. In short, the downsides outnumber the advantages present making this an unreliable FX robot.