Alpha Account Booster EA is a new automated trading system by the Forex Robot Guru team. The developer of the service claims that he’s created “over 1000 trading systems in the past 8 years,” but this one stands out at the best of all. This is high praise, and we will be providing a full review to let you know if it’s on point or not.
Launched in March, 2020, this software is still very fresh and new to the marketplace. As for the developer, the Forex Robot Guru tells us that his name is Alex, and that he’s been developing software for almost 10 years. He doesn’t give us a location for the company head office, which means he’s likely a sole proprietor, doing this all from home. He also fails to provide a last name, so we can’t verify his identity, nor see what type of reputation he has in the Forex market. Ideally, we would want both of these aspects to be cleared up before we make a purchasing decision, as we like to know who we are dealing with at all times.
In order to get in touch with support, traders can email firstname.lastname@example.org.
Alpha Account Booster EA Review
The Alpha Account Booster EA website consists of a couple short videos, some details about the robot strategy, pricing and some Myfxbook accounts. Unlike just about any other bot on the market, this program comes with the promise of “one on one coaching on request.” This aspect of the service isn’t explained, but we assume it’s a brief consultation that helps traders install the robot properly. We definitely like it when vendors go above and beyond like this, especially when they are charging an outlandish fee (more on that later).
There is also mention of a “powerful trick” a handful of times throughout the sales page. Apparently, Alex provides a powerful trick that lowers draw down significantly, but only gives this to traders who buy the life time license for $2500. This really isn’t something you see from any of the best Forex robots. It comes across like something a snake oil salesmen would say in the early 1700’s.
In terms of strategy, the Alpha Account Booster EA developed by the Forex Robot Guru team is a reversal trading robot. It looks to take advantage of trending market conditions to “make endless pips.” The vendor feels that in most cases, “when a trend ends, the market ends up consolidating for a period of time before a new trend begins.” Using this knowledge, in conjunction with hedging and “Wyckoff’s Market Cycle,” the software aims to manipulate the market and sell at the right time.
The strategy isn’t explained in the easiest of terms, but it’s better than nothing. Which we’ll take, as our recent reviews of Wave Runner Forex Robot, Multi Strategist EA and FX Blaster Pro have left us wanting much more analysis.
- Type: Forex Robot
- Price: $250/month
- Strategy: Reversal & Hedging
- Timeframe: M15
- Pairs: CHFJPY, EURGBP, EURUSD, GBPUSD
For traders interested in signing up with Forex Robot Guru’s Alpha Account Booster EA, it’s an expensive proposition. There are four options available for trader’s to get access:
- 1 day free trial
- 1 month rent ($250/month)
- 6 month rent ($499/month)
- Lifetime license ($2500)
So, no matter how you spin it, this is one of the most expensive robots in the market. This is a bit crazy considering that this isn’t even developed by a team. Also, the 6 month rent option we assume is a typo, but it says $499/month on the website. You probably don’t want to spend upwards of $2500 on a product, where the pricing plans have typos either. That’s simply not very professional.
The best part of Forex Robot Guru’s Alpha Account Booster EA presentation, is the trading results. They are currently running 6 different accounts on Myfxbook which is good to see. All of the accounts are pretty impressive, but for some undisclosed reason they all stopped trading just over a month ago at the same time. We are really unsure why this would hapepn, and we need some sort of explanation from the vendor to make sure they haven’t given up on this project.
Their main account is showing a 811% gain on the Alpari RU broker, using a 1000:1 leverage. This account has a drawdown of 47%, and went from March 27th, 2020, to June 26th, 2020 when it abruptly stopped trading. During this time the software was very active trading over 8000 times with an average trade length of 7h 3m. In terms of risk reward ratio, the average win is 9.13 pips, and the average loss is -22.67 pips.
The results are decent, but we do find it odd that the software is showing a gain despite losing over 7000 pips in total. This might have something to do with their hedging approach, but we would like to have an explanation on this as well.
There are good and bad aspects of the Alpha Account Booster EA. We appreciate that they are providing Myfxbook accounts, but need quite a few answers to our questions. We want to know why the accounts stopped trading abruptly, and why a few of them show large total pip losses. For now we won’t be able to recommend the system because it is simply priced too high, but we will revisit this again in the future.
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