Exreign Forex EA is a new Forex robot designed to cater for the needs of both beginners and experienced traders. This is according to the sales page of the EA. They believe that Exreign Forex EA is the best because they have incorporated high-tech indicators and in-depth trading processes which have gone into the algorithm to design this product. In addition to this, they believe that their testing was much more thorough than what most developers subject their robots to.
Unfortunately, this developer is mysterious since they do not have an about us page introducing who they are to us. So we don’t know what kind of trading experience they have. It is better to buy products whose developers have already built a reputation rather than investing in a product whose owner is reluctant in giving their information to their audience. However, the developer has included an email address which can be used to reach them in case you have an inquiry.
Therefore, the question that most readers want to know is whether this expert advisor is viable in the long run. Can we trust it or is this another hogwash product?
Note: We still trust that these resources are profitable for your trading.
One thing we realize is that the sales page of this expert advisor is quite shallow. It leaves a lot to imagination because we don’t even know the trading concept that the highly touted robot is using. According to the sales page, this software is being used by thousands of Forex traders across the globe. This is hard to believe if the information cannot be verified. Most of the time marketers will use this type of sales pitch to draw attention to their product. It does not always mean that the numbers are quite accurate.
By the way, products that have thousands of real users do have many followers, and it’s possible that such a product will have a reputation on the internet. But in this case, Exreign Forex EA does not have many reviews on the internet. They probably have less than 100 followers – if we could guess. This is by no means close to 1000 followers. In fact, this marketing declaration is quite misleading, and we are just wondering how on earth this developer can have such a following and yet they have a zero reputation in the Forex trading marketplace.
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This is an unacceptable deception and a major flaw. One might wonder what other lies they are telling us on the sales page. It kills trust, and it’s one of the reasons we are afraid to recommend it already.
Also, we’d like to know the type of trading strategy used by this expert advisor. It is always good for the strategy to be revealed so that we can determine whether the strategy is dangerous or not. It is also good for the general reputation of the software in question. Unfortunately, this information is not provided by the developer. The only explanation that the developer is giving is that Exreign Forex EA is built to trade the Forex market automatically based on some pre designed strategy. No further elaboration is given however.
It is worth noting that lack of information is the major detrimental factor for this robot’s sales page. It is a common issue with some of the robots we have reviewed here before which include Agimat trading system and many more.
This is a Forex expert advisor that costs anywhere between $129 and $199. It scalps the 30 minute time frame for EURUSD, GBPUSD, USDCHF pairs.
Note that this product has two price points, meaning that traders looking to sign up can either pay $129 or $199. Both of these packages come with lifetime access, safety features, money back guarantee and no extra cost for switching account numbers. Most developers have a fee when users are switching account numbers.
The difference is that the standard plan has access to 1 real account and 1 demo account respectively. On the other hand, the premium account has two demo and two real accounts. We wonder why they could not provide unlimited demo access. But anyway, this is a make or break issue. It is just how we prefer things to work.
There is at least one trading performance account for the Exreign Forex EA which is hosted on both Myfxbook and FXblue platforms respectively. These are real accounts. It’s worth taking note of that fact. At the time of writing this review, the accounts were over 100 days old and gains were nearly 60%. The monthly return is nearly 13% and overall draw down is 22%.
These numbers are fair and consistent. If the robot can maintain this style of operation for a significantly long time, say 6 months from now, it can be one of the best Forex robots to use in the marketplace. Whereas the trading strategy is not revealed for whatever reason, the trading results suggest that this is a scalper. Trade lengths are just over 3 hours which we find quite unusual in a scalping robot. Most scalpers close trades in minutes. We are looking at take profit and stop loss numbers. These numbers suggest that the system is always trying to get in and out of trades quickly. The intentions of this robot is to enter trades quickly and take up to 10 pips maximum.
This is not necessarily a bad thing for the vendor and for those who want to buy Exreign Forex EA. However, we are hoping that we will soon see the accounts of their clients to determine if the same story is being told in their clients accounts.
While the vendor has done a perfect job to provide us with their real verified trading accounts, there are still negatives that we need to remember. One of them is that the developer is not providing an explanation of the strategy in use. We want this information to be able to make perfect judgement. In the meantime, use these robots.
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