Sirius EA aims at providing verified records on Myfxbook that do not go in their favor. One of their accounts has been exposed to margin calls while others have below-average performance. Their claim of efficient risk and management goes in vain when we dive deep into the EA.
Sirius EA: Characteristics
There is no specific information on how you can use the EA. However, the developers mention trade copier services, so you might have to copy positions directly from their accounts or provide your MT credentials.
The robot has the following features:
- Fully automated trading as it operates day and night 24/5
- Built-in money and risk management
- Trades multiple currency pairs at a single time
- Easy to install
- There are no customizations necessary
- Auto-stop loss, take profit and trailing stop features
- No experience is required from the user
- Comes with dedicated customer support to solve any inquiries
Currency Pairs, Strategy & Timeframe
According to the website, the robot works on EUR/USD, USD/CHF, GBP/USD, EUR/JPY, and NZD /USD. When we look at the stats on Myfxbook, we see that it works on several other currencies. It has an intermediate approach between day and swing trading as the average trade duration is one day. The developer has made history probably in a bid to hide the devastating results of the robot. However, from the equity and balance curve, we can deduce that it uses martingale or grid strategies
Developers recommend using a lot size of 0.01 for every 2000 Euros in deposit. They expect a 36% ROI. They do not mention which time frame a trader should use.
Sirius EA Trading Performance
There are no backtesting results available for the robot. Therefore, we can not determine under which settings the EA will perform better or use various stress tests to assess the outcomes over certain market conditions.
Live trading results on Myfxbook show that the account wiped off its balance in a single day. However, the developer was somehow persistent in showing it can work, so he may have kept on replenishing it with money. This is evident because the account had over 80% daily drawdown for many individual days.
For April and May, the algorithm had a profit factor of 0.76 with an average winning rate of 58%. This is extremely poor as a trader would generally need a win rate of more than 65% with such risk-reward ratios. Furthermore, the developers have hidden many things, including balance, deposit, withdrawals, average wins, and losses, which raises even more red flags.
How much does it cost?
For a website that looks promising, the service providers do not mention the price of using their robot. They have conflicting information. In one case, they ask you to fill up a form that includes entering your credentials such as phone number and email, and the company will contact you with the details on pricing. On the main page, they mention the subscription charges as 15 Euro pcm with a minimum deposit of 2000 Euros.
Reviews from customers
There are many negative reviews on TrustPilot over celestial trading tools that are the developers of the EA. Users blame them for not managing their accounts with proper risk management and ultimately blowing it up. For a total of 120 reviews they have a rating of 2.2
As of now there are no reviews on Forex Peace Army. There is a general discussion where traders are seen regretting investing with the robot.
Should you use Sirius EA?
The overall outlook for the system makes it extremely risky to invest with Sirius EA. You can make a few pennies, but there will be a margin call on your portfolio at the end of the day. Never put cash in robots with poor results.
- Good website interface
- Subjected to margin calls
- No transparency of developers
- Poor customer reviews everywhere
The expert advisors outside of the MQL5 marketplace are usually big scams looking for beginner or amateur traders to lure them into their get-rich-quick scheme. The fact is that these EAs use risky strategies such as martingale to overcome the flawed strategic algorithm within them. Always ask for verified trading records before buying.