New Hope EA is an expert advisor development team with high priced products ranging from $2000 to $15000. They currently sell five different trading products and believe that by offering a wide range of systems that they can hit on different trading algorithms. Today we will be providing a complete review and letting you know if these systems are viable, or overpriced.
The New Hope Inc LTD. headquarters are located at International House, 24 Holborn Viaduct, London, United Kingdom, EC1A 2BN. They’ve been selling their systems since 2018, but aren’t very clear about their identities. They provide interesting insight in their mission statement, but don’t offer much transparency when it comes to their team members. Ideally, we would like to know much more about who is behind this service, and have some sort of proven trading history to support this data.
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New Hope EA Review
The main purpose of the New Hope EA is to give their clients “the opportunity to trade in financial markets using high-profit trading robots.” They believe this is possible due to six reasons that set them apart from their competitors. Here are those reasons:
- The robots allow traders to work with minimum risk.
- Each system utilizes complex market beating algorithms.
- The EA’s are updated often as they focus heavily on innovation.
- They have an active support team.
- They are beginner friendly.
- Their support team is personalized.
You will see most, if not all of these aspects touted by just about every developer that claims to provide the best Forex robot in the market. So, while we appreciate that they are offering this information, it doesn’t exactly set them apart. It’s really what you expect to see from just about every vendor in the market.
The main three New Hope EA’s are the NH FIX API, NH Black Swan and NH Bull. There are many other options available as well, and a handful of products that appear to be “out of stock.”
In terms of strategy, the developers don’t really provide the amount of detail we expect. Considering the high price, we are a bit surprised that they only offer up a few sentences about each product, and none of them are about the trading strategy.
When charging upwards of $15,000, there should be a very clear analysis of the service. We’ve seen better explanations by much cheaper products, as you can see in our recent reviews of Your Algo, Good Robot and Auvoria Prime.
- Type: Forex Robot
- Established: 2018
- Price: $2000-$15000
- Strategy: Undisclosed
- Pairs: Many
As we’ve already made quite clear, the New Hope EA service is very expensive. They are selling their systems at a price that’s 10-80x higher than our favorite robots in this market. The main products they sell consist of the NH Bull, going for $2000, the NH Black Swan, going for $15000, and the NH FIX API, going for $15000.
These prices are incredibly high, and aren’t in line with the rest of the marketplace. Most Forex robots range from $100-$300, so you can see this is quite the leap.
The only client feedback we have come across so far is from Raytonic, a trader who claims to have lost $3000 because the developers would not provide a refund. He tells the community that in 8 weeks he hasn’t seen any profits, and that the vendor is blaming him for the lack of result even though they set it up for him on his VPS.
We don’t know the full story, but we’ve contacted Raytonic to learn more.
The New Hope EA team has a cluttered Myfxbook profile with 25 different trading accounts. While the accounts show some large gains, a closer look shows that none of them have traded in 2020.
None of the accounts provided are verified, and each one of them shows a very small sample size, where they suddenly stop trading after a couple of weeks or months.
The most recent account provided is for their NH Inside EA, and it’s showing a gain of 182% with a drawdown of 40%. This account is not verified, and stopped trading in late July, 2019. This system trades 5 different assets and has an average trade length of just over 10 hours. The risk reward ratio is around 1:1.4 with the average win coming in at 1986 pips and average loss at 1300 pips. These are huge numbers which means this software is really trying to trade big market swings.
As it stands, we would like to see active trading results that are verified and go on for more than just a few weeks at a time.
We don’t doubt that the New Hope EA service is professional, but we can’t recommend that clients sign up at this point in time. There are too many boxes unchecked, and honestly, even if they ticked every box, we’d still find it hard to recommend given the exorbitant price tag.
We believe the developer should lower the price, provide more strategy insight, and give us long term trading results. When they do, we will change our ratings.
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