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Million Dollar Zone provides the EA Monster Forex trading tool that they claim has hundreds of trading strategies. This is definitely an interesting idea. We are sure you want to know how they can infuse so many strategies into one trading bot. We are also curious to see exactly how the system works.
We hope that this is not just a tag to attract customers. Nowadays, companies will say anything about their trading software just to attract customers. We have been around long enough to know that we cannot just believe anything a company says. Most of the software in the market cannot deliver the results the developers promise.
This review will assess EA Monster from Million Dollar Zone and see if it is worth investing your money in. We want to know whether it is legit or it is yet another scam looking to rip off eager investors. Unfortunately, the market is filled with fraudulent companies.
However, there are legitimate Forex trading robots that are making traders real returns. Only use such Forex robots because they have proven to work for a long time. Only then will you make the kind of returns you are looking for in the Forex market. Let us see whether Million Dollar Zone’s EA Monster is among the best in the market.
Milliondollarzone.com Monster Review
Million Dollar Zone sells its EA Monster system on the mql5 platform. On the platform, it is easy to verify who is behind a product before you buy it. This means that it is easy to confirm whether the individual is trustworthy. Moreover, you can verify the experience the developer has in the financial markets.
EA Monster’s developer is a man called Scott Fredeman. Overall, he seems like a solid individual. This is a good sign. Another good thing is that the website provides a 44-page user manual to clients. This is essential for new and novice traders. This also means that the software is ideal for both novice and experienced traders.
EA Monster is allegedly a combination of hundreds of ideas into one. The developer claims that 95% of every trading idea he has can be set in the EA. This means that the software is customization to suit anyone’s needs. However, this only makes the software complicated.
Even with a user manual, the system will still be a nightmare to navigate for many users. Clients can get in touch with Million Dollar Zone by filling out a contact form found on milliondollarzone.com. Sadly, the company does not say how long it takes them to respond to customer queries. With a complicated system like this one, clients will need constant support from the company.
Therefore, we feel like a phone number would be more ideal. Moreover, Scott Fredeman needs to recruit more team members for customer support. Otherwise, he will have his hands full with just a few customers.
Pricing and Features
The price of EA Monster on mql5 is $297. However, you can rent the software for three months at $49. The features that this price gets you include automated trading on the MT$ platform. The software works on multiple currency pairs, including AUDUSD, EURUSD, CADJPY, EURCAD, EURCHF, EURGBP, GBPCAD, USDCAD, USDCHF, and USD JPY. Additionally, the developer says the software works in any timeframe.
One thing we noticed is that the developer regularly updates the software. This is a good thing to see. It means that the software will stay up to date with market events and strategies. Only such trading tools succeed in the market. Moreover, it means that Scott Fredeman is listening to customer needs. This is a man who is concerned with customer satisfaction.
EA Monster’s Strategy
This is the most marketed part of EA Monster. The developer claims that the system is a combination of many trading strategies. Clients can customize the system to best suit their needs. There are a few breakout strategies and trend strategies to choose from. Further, there are optional hedging and grids built into the system.
The developer believes this is the perfect recipe for a profitable system. Moreover, the system has a powerful money management system that includes take profit and stop loss customization.
While this may work, it seems like too much. We are not sure how the developer will keep track of all the strategies to make updates for each. This is mainly because Scott Fredeman is running the company on his own. He simply has too much in his hands to be effective.
Furthermore, it would take you a long time to try out the different combinations. This trial and error process might end up losing you some money.
Investors always want a system that is ready to use once they buy it. The developer and not the customer should handle the trial and error process. This approach only creates a complicated system that is not easy to use.
Million Dollar Zone entirely relies on back tests to showcase the performance of EA Monster. The company claims that the system has rigorous 10-year back testing. However, this is not reliable. Back tests are based on mathematical data and history. Therefore, they do not put into account other events that affect market prices, such as weather.
Moreover, past performance is no guarantee for future performance. Therefore, what we would like to see is results on a live Myfxbook account. This is the most reliable way to present trading results. It is easy to set up, and any professional knows the importance of this. It goes a long way in making the purchasing decision more comfortable.
There are not many customer reviews about EA Monster on the MQl5 marketplace. This is despite being in the market from 2017. However, the few that are there are all positive. This is a good sign. All the thirteen reviewers give the company a five-star rating. This means that the software is working well for them.
However, in the comment section, we find a few worrying comments. As we suspected, clients ask for help to set up the bot to produce the best results. There seems to be a lot of customers unable to effectively use the product on their own.
We appreciate the idea that to induce EA Monster with many trading strategies. But it seems this is working against it. Investors would rather have a trading system that is simple to use and straight to the point.
Overall, EA Monster from Million Dollar Zone seems legit. However, we are unable to recommend it to you at this time. The developer, Scott Fredeman, had a great idea to infuse the system with several trading strategies and settings. However, this is working against him. The result is a complicated system that requires constant user support.
Moreover, Million Dollar Zone does not provide verifiable trading results to clients. This is inexcusable in this day and age. Trading results are essential to assess whether a company is worth investing in.
As it stands, there are better Forex trading systems on the market. Such systems have proven to work for a long time. Use only the best Forex trading robots in the market for the best results.
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