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Forex Profitable EA Review: Scam Developer Can be Deceptive

Forex Profitable EA Review: Scam Developer Can be Deceptive

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We are viewing quite an old and established Forex service provider called  profitablefxea.com. This is now redirecting to forexwinnerea.com. They’ve been selling a robot called Forex Profitable EA which at some point was allegedly producing 200% monthly returns. Once we see these numbers, the first thing that comes into our minds is that this is a scam because there is just no realistic way to generate these returns. The vendor appears to have pulled down such deceptive statements. But they remain to be judged based on the standards which they have set for themselves. Clients are expecting that Forex Winners EA will ultimately deliver what they promise.

Besides this, there is no information about the developers of Forex Profitable EA. It’s important to note that this developer is not revealing their location nor the type of trading experience they have in this marketplace.

Some traders have already insinuated that the Forex Profitable EA is designed by the same developer behind Khokon FX systems. This developer goes by the name “Lr Khokon”. But as you can see, the site where this service is promoted at is something to do with Forex Winner EA. So it is quite difficult to establish a connection here if it ever exists.

The developers of Forex Profitable EA are inviting their website users to contact them through email or Skype. This is the most common way to talk to most developers in the EA market.

Note: You can get good Forex trading resources here.

Forex Profitable EA Review

The one thing that makes us wonder is why the developer of this EA is not seeing the need to have a proper introduction of themselves and their trading experience. Even if there were reasons to say good things about this developer, they would score terribly in this department. They are simply not quite transparent. They also don’t tell us much about the software in question. So this leaves us hanging, not knowing whether to trust the EA or to blacklist it in our most dangerous robots to use for trading.

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Forex Profitable EA

The Forex Profitable EA seems to have been built for beginners who don’t have a big bank roll or are not willing to risk a significant amount of money in the Forex marketplace. This is because the developer says this robot can perfectly trade a $100 account. It trades any kind of currency pair.

There is one particular feature which this developer calls ”Trend sensitivity”. Upon reading the description, we discovered that it was a feature that enabled traders to make an appropriate settings which would adjust how sensitive the robot is to trends.

Now, there seems to be a small contradiction here. The developer says that this Forex trading system was built to accommodate the needs of those getting into trading for the first time. But now the issue of trend sensitivity appears to be out of place. For us to change the manner in which the Forex Profitable EA reacts to trends, it would force us to change the strategy as well. The issue is that there is not a single beginner in the Forex marketplace who can adjust this robot to their advantage as far as changing how it reacts to trends is concerned. We can assure you that this setting isn’t easy to find for a newbie.

Breakdown of the Forex robot features

Now, this Forex robot does not come with a lot of explanation as to what trading strategy the developer incorporated into the trading algorithm or the time frame that the robot works best with. However, the pricing for this robot is $199. In fact, there is a range of pricing models which they are using to sell copies of this trading system to their clients.

The $199 per year price is for the Silver plan. Gold, Diamond and Platinum plans cost $299, $399 and $599 respectively. Considering that the developer of the Forex Profitable EA is quite secretive, these pricing may suggest that we are dealing with a premium product. It would have been much better for them to tell us which pairs this robot is trading, which strategies they are using and such like things.

All the plans have the same features. The only difference is the amount of license that a trader can gain access to if they purchase a plan from this website.

Trading performance

At some point, we were going to ask what trading performance has been like for this robot. It is the standard way of evaluating trading systems. It does not make sense selling a license for as much as $599 and yet the vendor cannot prove that they are offering a premium quality product.

When you click the ”results” link, you will be taken to a page where you will be required to download the MT4 software. The vendor provides account ID and broker to make login in convenient.

While you might think that this is a solid way to prove performance, it is actually a flawed way of presenting performance simply because there are good third party statement sharing websites that do a better job than letting people access MT4 trading accounts.

One thing that traders might not know (especially if they are new) is that a statement sharing platform like Myfxbook is meant to summarize all the important information so that it is presented in a manner that’s meaningful and insightful. This is something you can’t get from an MT4 account because it would take some time to investigate whether the account has had a large draw down before and whether the vendor has replenished it several times to affect overall gains.

To cut a long story short. We appreciate these login details.But at the same time, we are wondering why exactly Forex Profitable EA cannot be tested on these platforms.

Our best advice for you

And of course the Forex profitable EA does have a few reviews worth looking at. These are mostly negative though. So nothing inspiring. The issue that traders have is that Forex Profitable EA has a lot of upsells requiring them to buy costly VPS. To avoid the headache, stick to these robots.

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