Speed Magic New is a robot that sells on the MQL5 community.
It was designed by Volha Loyeva and published on March 1, 2020. The last version of it is 25.0 from October 10, 2020.
FX Urban Group has designed 9 products and runs two master accounts for copy-trading. The company’s a 7942 rating. It’s the one from the mid of the pack. As we can see, the owner or owners are from Belarus.
Speed Magic New: Characteristics
Let’s talk about grouped up robots features:
- This version of the EA performs trades fully-automatically on the Metatrader 4 platform. There’s an MT5 one as well.
- The Roboforex broker house is promoted by the developers because they’re a quire known company and welcome bonus.
- The robot analyzes market conditions to find the best trading opportunities and open trades as soon as possible.
- There are various set files depending on what mode we’d like to go: aggressive or conservative.
- This is a scam way to convince people. Everyone knows it can be possible only if you set your deposit in the insane danger trading with improper Lot Sizes. At the same time, the dev has an account that has got only 24% of the total gain since August 2020.
- The system was designed for big profits trading with little risks.
- We can run the EA trading with high spreads up to 20 pips.
- For aggressive trading, we should set Stop Loss at 10-20%. What it means the developers didn’t explain.
- The system allows us to customize only the most important parameters.
Currency Pairs, Strategy & Timeframe
- The EA has aggressive parameters (?) and a Hedge strategy on the board.
- The main EA’s strategy is based on opening orders. At the same time, the developer noticed that there’s no Grid strategy on the board.
- It doesn’t use Grid or Scalping trading strategies.
- It was designed to trade only EUR/USD on the H1 time frame.
Speed Magic New Trading Performance
We have a screenshot of the EUR/USD backtest on the H1 time frame. The initial deposit was $1000. The leverage was set at 1:500. The total net profit has become $46401. The maximum drawdown was 17.29%. The profit factor was 3.92, with 2.55 of the recovery factor. Speed Magic closed 306 trades with a 69%-72.9% win-rate.
We have a real USD account on the Fort Financial Services broker. The EA uses technical indicators and trades automatically with 1:500 leverage on the Metatrader 4 platform. The account has a verified track record. It was created several months ago, on August 02, 2020. Since then, the absolute gain has become +24.24%. An average monthly gain is 4.71%. The maximum drawdown is 15.59%.
Speed Magic closed 207 deals with 735.6 pips. An average win of 7.57 pips three times fewer than an average loss -21.12 pips. The win-rate is 86% for Longs and 85% for Shorts. An average trade length is one day. The Profit Factor is 6.40.
The EA trades four symbols CHF/JPY, EUR/CAD, EUR/USD, and USD/CAD. Most frequently traded are EUR/USD (109 deals) and CHF/JPY (49 deals). The most profitable currency pair is EUR/USD – $223 when the less one is EUR/CAD – $1.97.
The EA focuses on trading during European and a bit during American trading hours.
The most-traded days are Wednesday (47 deals) and Thursday (46).
It works with little risk to the account balance. For losing 10% of the balance, it has to lose 80 deals in a row.
The EA places -10000 pips Stop Levels. If the EA losses internet connection with these deals opened, it crushes the account for several days or even hours. Many traders will run the EA on a home PC. So, in these cases, the deals will be closed by Stop Losses.
EA’s profitability significantly goes down after September 2020.
How much does it cost?
Speed Magic New costs $99 for a product copy. The vendor doesn’t provide a money-back guarantee. There’s a free demo option to check the EA in the MT4 terminal.
It’s a weird sale because we didn’t see a united pack that costs $99. If there’s no it, both EAs have to cost twice cheaper. See, there’s something wrong with this offer.
Reviews from customers
The EA has a five-star rate, with eight copies sold monthly.
Almost all feedback from the customers is positive.
The developer answers quickly to every asked question.
There’s mostly a Russian community in Telegram. As we can see, the robot can work well only with EUR/USD. The rest isn’t verified and tested well.
Should You Use Speed Magic New?
|Real-account trading results||No settings explanations provided|
|Cheap pricing||No money-management advice provided|
|Telegram channel||Trading results are mediocre|
|SL levels are wrong-calculated|
|No money-back-guarantee provided|
Speed Magic New is a weird robot. It doesn’t receive a sophisticated design. Trading with weird-calculated Lot Sizes brings more risk that we can make profits with it. Pricing and others can’t cover the fact that it’s dangerous software. According to trading results, Speed Magic New performs a scalping strategy. So, we have to have a VPS and ECN account. The developer didn’t mention these requirements. Now, the EA is stopped. We don’t know if it’s launched after past Brexit trading sessions.