MG Pro EA is a new automated trading system, developed by SinryAdvice. The developers feel that this is the “most profitable Forex robot with live result.” They are relative newcomers to the expert advisor marketplace, so we will be providing a full review and letting you know everything you need to know.
SinryAdvice just launched March 13th, 2020 so at the time of this review, they’ve only been producing products for approximately 5 months. During this time, the team has some how created 5 expert advisors and 2 indicators, all available for sale. This seems like over-development, and we feel that they should focus on just a couple of systems, instead of launching this many projects just 5 months into business. Creators that build out too many systems usually provide poor support, and struggle to deal with updating each system to meet market conditions. We aren’t saying that this is the case in this scenario, but it’s certainly something we have to consider due to past experiences.
There is no location provided for their headquarters, and no specific details about the author. To get in touch with the vendor, traders can email firstname.lastname@example.org or call +905363316029.
MG Pro EA Review
While the SinryAdvice development group provides multiple systems, our review today is focused on their MG Pro EA, which we see being advertised on Facebook regularly. We chose to review this EA over any of the others because it has an active ad campaign, and they claim that it’s their “most profitable EA.” So, from all that, they believe that this system qualifies for best Forex robot status.
The main features of the software are that they provide live trading results, easy to use default settings, 2 licenses and a strategy built on 12 indicators. They also make note that the software opens and closes all trades on autopilot without any human intervention.
There is a 14 day money back guarantee, and a profit expectation of 4%-10% per week with a 74% win rate.
The SinryAdvice team tell us that their MG Pro Expert Advisor uses “inner smart indicators which analyse the market in many aspect and place trades.” They feel that these indicators, in conjunction with their strategy will ensure that the robot processes more data than a human can, without any emotional decisions. This is all they really tell us about their strategy, which isn’t enough.
They do provide some recommendations, telling potential clients that the software works best on the 5 minute timeframe, and a handful of pairs. Traders can start on default settings, but should start with a small lot size of .01, until they “learn how it works for 1000 usd account.”
We would like to see more information on their overall methodology, as they do not provide any real detail about their approach. This is common in the robot marketplace as you can see in our reviews of Forex Cyborg, Bounce Trader and Wallstreet Forex Robot. That being said, we have high expectations, and if the strategy isn’t explained, then the vendor will not get a high rating for this category.
- Type: Forex Robot
- Price: $288
- Strategy: Momentum, price action and key levels
- Timeframe: M5
- Pairs: AUDCAD, CADCHF, EURUSD, NZDCAD, USDCAD
For traders interested in the MG Pro EA, it’s currently being sold for $288. They process payments with PayPal, and offer two licenses per order. Once the order is placed, traders will get an email that “will contain a link to download the file immediately as well as instructions on how to install it.”
The SinryAdvice team also provide a short installation process in their sales page which is easy to follow as it’s only 3 steps.
SinryAdvice currently provide a single live Myfxbook account showing the MG Pro EA in action. This account started on August 12th, 2020, and in it’s first few weeks is showing a gain of 30.8% with a drawdown of 17.58%. Many of the items are hidden which we don’t like to see, as the point of providing a Myfxbook account is to offer transparency.
In the first few weeks, the software has placed 131 trades with an average trade length of 1 day. The risk reward ratio is 1:1 with the average win coming in at 19.88 pips and the average loss at -18.81 pips.
So far, the results are impressive but the sample size is really too short to know much as the software hasn’t even traded a single month.
We are always happy to see new vendors like SinryAdvice entering the Forex robot marketplace, but that doesn’t mean that we are going to throw them soft ball exclusively. We like what we see from the MG Pro EA in some areas, but in other areas we need more information. It’s clear that the vendor needs to provide more details about who they are, and what their strategy is. Other than that, we really just need to see how their Myfxbook progresses over time.
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