Today’s robot for review is a Premium FX Bot.
The robot is introduced as the best EA for MetaTrader 4 trading. The presentation includes not only information about the robot, but also some trading advice about how to get started with an all-new strategy.
Premium FX Bot: Characteristics
The presentation looks bad-designed and straightforward and includes several pages of information.
The robot has several features where some of them are weird:
- They provide free installation. We can expect that the support helps us to install an EA on the platform.
- It works on demo and real accounts. It sounds weird, right? Is there any EA that doesn’t work on a demo account?
- The minimum deposit of $200 allows trading with 0.01 Lot Size.
- The robot was designed for the MetaTrader 4 platform only.
- There’s a well-designed money-management system. The devs didn’t tell us what exactly there’s well-designed.
- We can rely on free updates.
For the rest half of the presentation, we read much text with explanations for beginners.
There are algorithms behind the system, but there’s no information about them.
Currency Pairs, Strategy & Timeframe
The presentation told us absolutely nothing about symbols, strategy, and time frame to work with.
- M15 time frame according to backtests
- A strategy may be scalping or trend trading.
Premium FX Bot Trading Performance
We’ve got a GBP/USD backtest on the M15 time frame. The modeling quality was 90.00%. The backtest united a period between January 2017 and July 2020. An initial deposit was $100. The total net profit became $1.18M. The Profit Factor was 15.59. There were 1112 deals traded with outstanding win-rate (95%-96%). The average win-streak was 22 wins.
We have a link on the real USD account that was deposited at $100. It was created on September 23, 2020. Since then, the robot has increased the balance up to $154.66.
It trades only a GBP/USD symbol. The monthly profit was +59.9%. A weekly return is +11.8%. The win-rate is a bit lower than on the backtests (85.4%). The Profit Factor is 16.38 (It’s even higher than it was on the backtests). The robot trades 1-2 deals daily.
The Buy direction has an impossible Profit Factor that amounts to 49.67.
Premium FX Bot executes only one trading strategy.
The EA trades almost equally during a week.
The deals were opened all day long during every session.
The robot trades quite smoothly and safely.
How much does it cost?
There are three packages with lifetime licenses.
- The Basic package costs $110 and includes one real and one demo account, free updates, and upgrades.
- The Standard package costs $130. It provides trading on two real and two demo accounts.
- The Pro pack costs $150 and allows trading on three real and three demo accounts.
Reviews from customers
There’s an account on Forex Peace Army without reviews.
As we can see, this successful test replaced a bad one.
The last profile update was on September 9, 2020.
Should You Use Premium FX Bot?
|Backtests provided||No strategy explanations provided|
|Real account trading results||No features explanations provided|
|High “Profit Factor”||No settings explanations provided|
|The account is several months old|
|Only one symbol to work with|
|No money-back-guarantee provided|
|No people feedback provided|
It looked like the vendor didn’t want to sell his or her robot to us. The presentation has a huge lack of crucial information to make the right decision. The developers avoided telling us about symbols to trade, time frame, risks, the strategy behind the system, info if the EA uses grid, martingale, hedging, and other risky strategies. Trading results look good, but the account is just two months old and can’t provide representative data about the success of the strategy. It costs not so much, so there’d be many people who use it. As a result, there have to be many testimonials on sites like FPA and TrustPilot. There’s no people’s feedback.