Matalino Forex EA tries to make a good impression on traders by promising good returns on auto mode. The robot works based on technical indicators to find setups that can be profitable. It comes with 24/7 customer support that claims to answer all of the inquiries.
MATALINO FOREX EA: Characteristics
The developer will send you the ex4 file of the robot to your email id after you make a purchase. Place the algorithm within the experts’ folder and enable auto trading to begin the smooth functioning of the expert advisor.
The robot has the following features:
- Works on set and forget basis where it does not require any monitoring from traders
- Offers 24/7 support and updates
- Provides live trading results to verify its performance
Currency Pairs, Strategy, and Time Frame
The robot trades on EURUSD and GBPUSD in the 15 minute time frame. It uses Bollinger Bands, CCI, and other various indicators that the developer does not disclose to make a profit in the market.
There is no further information on the topic, so we utilize the trading history present in the live records of FX Blue. The robot uses both grid and martingale strategies to remain in the positive territory, which is quite risky. It does not use a stop loss and take profit while trading.
MATALINO FOREX EA Trading Performance
There are no backtesting results that we can use to gauge the system’s performance for historical data. This type of approach shows that the algorithm may have failed during backtesting. It raises concerns over the authenticity of the system.
Live trading results are available on FX Blue, which shows performance from Oct 25, 2017, May 2021, till the current date. The results are horrendous, meaning that the expert advisor caused a margin call on the trading account. This happens due to risky martingale and grid strategies. The system only had a winning rate of 49.2%, with a profit factor of 0.49. The monthly returns were -111.11%. The system had an average of 26.6 trades per day.
How much does it cost?
The robot offers a free trial that comes at $7 for seven days with one demo and a live account license. The system comes with three different packages that vary based on the number of licenses. The silver package is for $99 and has one key, while the gold offers two licenses at $149. The platinum package is the most costly at $249 with four keys. There is a 30-day money-back guarantee. It is also possible to get the MQL code for the full license, which comes at $1000.
Reviews from customers
Matalino Forex EA has no customer reviews available on noted review platforms such as Forex Peace Army. It shows that no one is interested in purchasing a system that can easily cause margin calls.
Should You Use MATALINO FOREX EA?
Matalino Forex EA is not profitable as the live trading account shows complete liquidation of the assets. The developer does not declare his whereabouts or trading experience, which creates many concerns over the system’s efficiency.
- Easy installation
- Live account results show that the robot caused a margin call on the portfolio
- It does not provide proper settings
- No transparency from the developer
The claims made by the developer of the algorithm on the website are useless and false. They are only used to attract new traders in a bid to scam them out of their cash. No one in their right mind would invest in a system that shows a complete liquidation of the account in performance reports. Matalino Forex EA is not a good choice for those who love their investment.