EA Review: Forex Evolution

Forex Evolution EA is a new Forex robot a new Forex robot being promoted in the MQL5 marketplace. Named after Charles Darwin’s popular theory, the vendor even quotes Charles and references the term natural selection. The reason for this, is because the system works by the principle of natural selection, as “only the most resilient and successful strategies survived”the developers testing process, and made it into his final product.

The creator of the expert advisor is Niklas Schlueter, a Forex trader and developer located in Germany. This is the 2nd product that he’s published in the MQL5 market. The first, is a Forex EA called “Black Bull” but it never seem to get any real traction, and the only review was from a client to claim that they couldn’t manage to get the same results shown in the vendors trading statements. In order to get in touch with support, the easiest ways to direct message Niklas via his MQL5 profile page.

Evolution EA Review

Outside of the initial preamble, the Forex Evolution developer provides very little information about his expert advisor, and the trading strategy that utilizes. All we really know, is that the software doesn’t use any martingale, averaging, grid or hedging methodologies. It’s also worth noting that the system uses a real stoploss and real take profit.

The robot is built to work with 4 different pairs, EURUSD, GBPUSD, USDCHF, and USDJPY. It’s recommended to use the software on a low spread ECN broker, with a minimum deposit of $100.

The robot comes with 13 different settings that can be adjusted by the client. These include money management, percentage of free margin, fixed volume, stoploss, take profit, Max orders per symbol, SL/TP mode, Max spread, Max slippage, start trading, and trading, identification number and comment. Most of the settings are quite basic, and can be found in the majority of the best Forex expert advisors in the marketplace.

The software is in line with other Forex robots we’ve recently reviewed including VR Smart Grid, and RoFX.

Robot Analysis

• Type: Forex Robot
• Price: $450
• Strategy: Undisclosed
• Timeframe: Any
• Pairs: EURUSD, GBPUSD, USDCHF, USDJPY

Currently being offered at $450, the Forex Evolution EA is priced quite exorbitantly. It can also be rented at $150 per month, or tested on a free demo account. The system was first published on February 16, 2019 and updated once on February 23, 2019 to version 1.2.

This makes the software only a week old, which makes of the 14 reviews provided by clients odd, and disheartening.

Client Feedback

There are 14 reviews by clients so far, and all of them are showing 5 stars. Considering the system is only a week old, all of these reviews need to be taken with a grain of salt. In fact, I really don’t recommend trusting any of these reviews at all. The only benefit of this client feedback section is that one of the clients started a Myfxbook account, which you can monitor here:

Performance Results

Considering this is brand-new, there really isn’t much in terms of trading results. The Forex Evolution EA provides a couple of back tests and uploaded there trading account to the signal section of the MQL5 marketplace so that we can monitor its performance.

This account has been running for 5 days, and is showing a 5% gain on their ICMarkets demo account. This is an extremely short sample size, so we really can’t put any real faith in this being any sort of signifier of future results.

Conclusion

It’s really too early to judge the Forex Evolution EA completely. While they should certainly provide much more information about the trading strategy, and their overall approach, the initial returns are positive. At this point in time, the best course of action is to either test the software with the free demo account, or wait and see how the expert advisor performs for the rest of the community.

If you have anything you would like to add to the review, please leave your questions and remarks below the article now.