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EOS Forex EA Review: Is this a Scam?

EOS Forex EA Review: Is this a Scam?

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EOS Forex EA is a trading software which can be purchased directly from eosforexea.com. The developer introduces 3 people on the sales page who are allegedly the CEO, ”Store Boss” and ”Office Sales personnel.

Each one of these people have a story to tell about the EOS Forex EA. Michael, who is introduced as the CEO of EOS Forex EA claims that he has always loved observing characteristics of trading in customers, and has incorporated these qualities into EOS Forex EA software.

John Smith, on the other hand claims that EOS Forex EA does not open and close positions randomly as the software only trades during specific market conditions and also comes with a ”sophisticated exit technology”.

The third personnel claims that EOS Forex EA rides the wave up and down using its unique style of trading and works well with both straight pairs and cross pairs.

EOS Forex EA also comes with various settings that can be adjusted and optimized for better returns, although the vendor says that default settings are working well.

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EOS Forex EA costs $399 per license, and a 30 day money back guarantee covers every purchase.

Note: You can get high performance trading signals cheaper than this trading robot.

On top of this, EOS Forex EA developers will install the robot for free and offer lifetime updates free of charge.

Before you invest $400 on a trading robot, it is better to evaluate the purchase to see whether it’s something that really deserves the price it is selling for

EOS Forex EA review

EOS Forex EA developers claim that they are experienced software developers who have been around since 2015.

They also tell us that they can design a customized trading robot for their clients, although it is not clear whether they are referring to optimizing the current software or starting a new one from scratch.

EOS Forex EA is not a property belonging to a company. Also, the names which appear on this site do have very limited digital footprint, which makes us wonder whether they are legit.

These guys are also giving us a Hong Kong address, which simply means that the team could be based out of Hong Kong.

In addition to this, the team is quite proactive in the sense that they are offering support on email, Skype and also through the contact form on their site.

EOS Forex EA is selling based on these promises: That it is a great Forex robot, and two, it is consistently profitable and 3, it is easy to customize which means that traders can finally make a lot of money.

Looking at the sales page, we find that it is quite overwhelming, plus the operators of this site have not identified the spelling mistakes that hurt the description of this product. This definitely kill confidence.

While the developer has content on their site, they do very little in order to describe their trading style and strategy. One of them hinted that this software uses Price Action but there is no clarity on whether this is true and is the main principle that the robot uses.

We think they should fix the content on their website first in order to try building credibility.  It does not look like English is their first language, but that’s fine because there are many freelancers who can be hired to do the job and help the developer attain a more professional image.

Developers lacking a proper explanation of their trading concept is a common thing though. I’ve recently discussed it with reviews such as this one On Control EA.

EOS Forex EA review – quick breakdown of features

We are told that the EOS Forex EA trades a number of pairs such as EURAUD, EURCAD, GBPCAD, GBPCHF, EURGBP,  USDCAD, USDCHF, USDJPY and many more.

It is a scalper by nature. However, the time frame for trading as well as strategy for entering and exiting the market is unknown.

The cost of the EOS Forex EA is $399, which simply means that this EA is on the costly side of the market place.

If the developer did a pretty job in going to the specifics rather than generic explanations and sales pitch, it would have contributed immensely into helping them secure some trust from traders who are willing to spend as much as $400 on a trading software.

EOS Forex EA trading results

They are doing a good job by providing us with a couple of myfxbook accounts for us to analyze.

One specific myfxbook account that I’m focused on dates back to July 2016, and has been active till this day.

 

This account has a gain of +378.33%, a monthly profit of 5.64% and draw down of 23.68%.

However, there is a strong disparity between Gain and absolute gain, which are metrics for measuring how many times the account has been funded in relation to what that account has actually earned.

While gains are at +378.33%, the absolute gain is just +103.53%. This simply means that the software has realistically gained +103.53% over the course of nearly 3 years. +378.33% focuses on the number of deposits during this time.

What I can say is that this is a very small gain if you consider the fact that the EOS Forex EA is a scalper with a fairly long history of trading.

Also, when I look at the monthly analytics, I see that the EA has been consistent with gains with only a couple of losing months since 2016.

Our best advice for you

Whereas the results are good to look at, the EOS Forex EA does not have any good feedback from the trading community in general except 5 reviews that appeared on the FPA trader forum, which also look suspicious because most of them were submitted in the same month with 5 star rating. Since then, nobody has ever submitted a review there again.

Because of this, I am not very confident about what is happening, and would advice that traders exercise caution. If you want to be sure that you’re making the right decision, contact us or subscribe for our trading signals here. 

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