Menu

Einstein Trader Review: Scam? Our Assessment

Einstein Trader Review: Scam? Our Assessment

Share This!

Einstein Trader EA is a Forex scalper and a revolutionary way of trading. That’s according to the developer, who brought us Million Dollar Pips in the year 2012. Of course time has gone, and so we are expecting a completely refined scalper from this developer this time round. The promises that we find on the homepage of this robot are quite enticing. If they are anything to go by, we would say that this is the best Forex scalping software in the market right now.

So today we have decided to take a look and see whether Einstein Trader EA works and is capable of providing the alleged profits.

Einstein Trader review

It’s interesting to note that this is an old time developer in the marketplace. We first learned about them when they produced Million Dollar Pips. Although there are still many developers who actively engage in creating robots for trading, it is extremely rare for a developer to take a 5-year off only to come back with a new robot. We are therefore hoping that the 5-year break was utilized well and now they have a more innovative product to sell to traders.

The Einstein Trader EA is a scalper, much like its counterpart, the Million Dollar Pips. The average length of trades is only 9 seconds, which means that traders must at least consider a Forex VPS service in order to even think about using this robot.

On top of that, for this robot to work (as alleged by the developer), one would need to sign up with a good Forex broker who has low spreads and fine execution.

With such a short average length of time take for trades to open and close, one would need a trading setup that facilitates quick communication with the brokerage servers. And that’s why we mentioned the use of a Forex VPS server.

? ***Want to earn money with Bitcoin and other Cryptocurrencies without the pain and hassle of learning to trade from scratch? Imagine if you could trade and get regular results with profitable performance! Are you tired of the forex and crypto scams, false promises and games out there designed to separate you from your hard-earned funds? If any of that rings true with you, then STOP EVERYTHING. ProfitFarmers is for you! With their software working as your Crypto Co-Pilot, YOU remain as the Pilot with total control over your money, 100% of the time. ProfitFarmers is a trading tool that combines artificial intelligence with the expertise of veteran traders to deliver high-probability trade plans right into your hands. There’s no need to spend hours trying to figure out what to trade!
Thanks to their integration with Binance, the biggest cryptocurrency exchange worldwide, ProfitFarmers executes your trades from entry to exit, you just choose the trade signals you like, pick your entry price and then let your Co-pilot take over the rest of the journey. Stay informed about every step of your money-making journey through push-notifications on their mobile app. Now there’s no need to constantly worry about your ongoing trades, just let your Co-Pilot handle it for you! This could easily be the holy grail of trading tools. Forget paying a guru to trade for you and take a massive cut of what you earn. With ProfitFarmers there are absolutely NO COMMISSIONS OR FEES ON YOUR TRADES. 100% of what you earn is 100% yours to keep. Period. Last quarter, ProfitFarmers produced 1,357 trade plans, and more than 60% of them offered peak gains of over +8%. By joining ProfitFarmers, you’ll never be short on money-making opportunities. Still wondering if this is too good to be true? ProfitFarmers has a 100% Money-Back Guarantee if they don’t deliver profitable opportunities onto their platform. If you are ready to upgrade your trading game and instantly expose yourself to profitable trade opportunities, now is the time. Head to ProfitFarmers now to start trading the easier way, with your very own Crypto Co-Pilot.

PS: ProfitFarmers is a Trading Tool. Your money ALWAYS remains in your Binance wallet, never on ProfitFarmers. 100% Verified and Recommended by Valforex.com.

Aside from that, we noticed something that immediately raised our suspicion. We noticed that the sales pitch that was being used to promote Einstein Trader EA was sounding fishy. For instance, the sales video frequently mentions how binary options should not be trusted, yet we know very well that even though most opportunities are scam, a few are quite genuine. Otherwise, if there was no proof that these Binary Options products were not legitimate, we wouldn’t have recommended them.

Therefore, the assumption that all binary options products are fake is a fallacy.

The overall presentation sounds as if they are targeting those who have been scammed before. That is why the word ‘scam’ is used quite frequently in between.

The video generally fails to give us any information that would be considered innovative. The only thing that we heard during the presentation was the description that Einstein Trader EA was a price action frequent scalper with lots of safety filters.

Generally speaking, scalping is a fast-paced style of trading. And when it comes to automated trading where scalping is the core method of trading, that particular system has to be broker sensitive. With re-quoting or high slippage/spread, an expert advisor like the Einstein Trader EA will have a zero chance of success.

Another important thing that we would like to consider is whether or not Einstein Trader EA is an Asian scalper. If it’s an Asian scalper, then it would mean taking advantage of the early, relatively quiet hours when the Asian trading session is beginning.

Einstein Trader EA Hours of trading

Let’s take a look at the trading hours for this expert advisor (see the picture above). As you can see, Einstein Trader EA is generally active during the early hours of the US and European sessions. At the same time, we see that the risks involved with scalping are still in place. However, the part that depends the broker’s trading conditions is still a concern.

The elements of this expert advisor also communicates a very weird message. For example, the lot sizing looks rather odd. Even though this is not a Martingale trading system, we still find that some trades on the same pair have more than a 100 times the volume of others.

Winning trades run for a longer time to capitalize on the advantage of that movement. However, stops tend to be very tight.

Let’s take a look at the historical performance of this robot.

Past performance

What we do not understand is why this trading system uses multiple tracking accounts to monitor its performance. Once myfxbook account is more than enough.

Anyway, let us look at one of the accounts. This is a live myfxbook account and the Forex brokerage is called Axiory.

At the time of writing this review, Einstein Trader had gained over 1000% in 3 and a half years. Even then, we still find issues with this particular account. The first thing to take note of is that the track record for this account is not verified. Another thing is that the brokerage firm at which this account is being hosted at has not had a flawless reputation. For instance, they have changed names several times.

Einstein Trader EA Growth

We have a picture of the growth curve above. That growth curve does not show that this trading robot is as dangerous as numerous other grid-based trading robots. That curve still looks rather strange. We wonder what contributed to a sudden steep climb around August 2017.

On top of this, the maximum draw down that this system has ever recorded is 28%.

That draw down is quite high. However, if you consider that figure in the field of high risk high reward style of trading, then we could say that it is fairly normal.

The average pip per trade for the Einstein Trader is 1pip. This is a measurement that helps you know what to expect in your future trades with this software. The fact is, any system that has less than 3 pips is a bad system for your trading. We do recommend an average pip of 3 and above.

The cost of buying the Einstein Trader

A license of the Einstein Trader goes for a whooping $497. A single license means you can only link it to one MT4 account.

There are no discounts either. However, a 60-day money back guarantee is in place. Generally, you should never hope for the possibility of getting your money back, why? Because most rogue developers will say that they will return your money if you ask. But they will never fulfill this request.

On top of that, this robot is so expensive that we don’t think any struggling trader would agree to purchase it. It makes sense going for cheaper, yet more effective robots that can make small profits on a consistent basis.

Our best advice for you

While the developer of Einstein Trader robot stated that this EA is a price action trader with safety filters, they never elaborated further into the topic. Also, while the tracking account proves that it is a scalper, the fact that those tracking accounts have not been verified should be a concern.

Secondly, even if we were to assume that this system will work, regardless of the strategy, then we ought not to ignore the part where this system becomes depended on the broker. If the expectancy of this robot is 1 pip per trade, then we can say that it is not a desirable robot.

If You'd Like to Get Notified When This Site is Updated, Subscribe Below...

Leave a Reply

Your email address will not be published. Required fields are marked *

IQ Mining

Binary Option Scams, Warnings, Reviews & Updates...

Binbotpro

Popular Articles

Follow Us

Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.

Show Buttons
Hide Buttons