Forex Real Profit EA is an expert advisor promising safe and consistent profits and continuous improvement. According to the vendor, it has 10 years of verified trading statistics on real-money accounts. They have also claimed that it is one of the most reliable robots in the MQL5 trading community. Of course, it is up to us to gauge the system’s profitability by analyzing its various aspects.
Forex Real Profit EA: Characteristics
You can use this robot with the Metatrader 4 trading platform. It is a fully automated system that takes trading decisions on its own using statistical methods without any manual intervention. Forex Real Profit EA has a high-impact news filter that it uses with scalping strategies. If the volatility of the market is lower or higher than normal, the robot automatically decreases the lot size.
In case the average short-term and daily ranges exceed the maximum value, the EA stops trading. It closes all trades that are open in case the net loss is more than 7% of the account size. The EA follows FIFO and NFA rules and lets you use the money management functionality for automatic calculation of the trading lots. As per vendor recommendation, you should get started with $1000 while trading with this system.
Forex Real Profit EA has a special setting that lets you use the system in tandem with others. It can perform automatic adjustment of the GMT parameter and operates 4 or 5 digits beyond the decimal point.
Currency Pairs, strategy & timeframe
This robot trades in two currency pairs, namely GBP/USD and EUR/USD. It applies 6 distinct strategies for trading the Forex market. Among them, 3 are breakout strategies, 2 are for scalping the market during the Asian session, and 1 is for trend scalping throughout the day. For all the trading schemes, the EA uses safety stop losses lying between 50 and 200 pips. It also uses dynamic lot-sizing in an attempt to adjust to the market scenario.
Here, we should mention that scalping strategies are not suitable for everyone. It takes a certain degree of expertise to pull off correctly and since only small profits are generated from each trade, long-term traders tend to avoid robots using such schemes.
Forex Real Profit EA trading performance
This backtest was conducted from 2003 to 2021 for the M15 timeframe. The robot started out with an initial deposit of $500, and after completing 9890 trades, it managed to generate a profit of $24360565.63. It won 59% of all trades and achieved 21 maximum consecutive wins and 11 maximum consecutive losses. The relative drawdown for this backtest was a bit high at 26.10%. This indicates a high-risk strategy that can lead to huge losses. The profit factor was 1.35.
Here we have a live trading account on Myfxbook that has been active since December 11, 2013. Considering how long it has been trading, we expected to see a large total profit, but surprisingly enough, it’s only $936.21.
The monthly gain percentage for this account is 2.25%, which is quite low compared to other EAs. Forex Real Profit EA won 56% of all trades placed through this account, which is not too impressive. The win rate is lower in comparison to the backtest, while the drawdown is much higher at 37.56%.
As you can see from the trading history of this account, the EA is prone to suffering consecutive losses. Furthermore, it only generates minor profits for each trade. Therefore, we cannot consider it a profitable system.
How much does it cost?
You can subscribe to Forex Real Profit EA for a yearly fee of $199. The vendor provides a 30-day money-back guarantee for the initial instalment. We don’t think it is worth spending this much on a low-profit scalping bot.
Reviews from customers
There is only one user review for this EA on the Forexpeacearmy website and none on Trustpilot. This tells us that not many traders are using this robot at the moment.
Should you use Forex Real Profit EA?
|Verified trading results||High drawdown|
|Low-profit scalping strategy|
|High annual fee|
Forex Real Profit EA is not a reliable trading system, because it uses a high-risk scalping strategy that leads to a high drawdown. It loses back-to-back trades while only generating small profits, so you should look for a robot with better live performance.