EA Sapphire is a new Forex robot promising to give traders access to an advanced selection algorithm perfect at picking out accurate entry points. The product comes with advantages, recommendations and an area where they provide a brief introduction to each parameter. Today, we will provide you with a full review, and a final verdict with ratings.
The product is developed by Fanur Galmov, a sole proprietor located in the Ukraine. It was first released in September 2018, and has been updated multiple times to V2.50. The last update was on April 2nd, 2019, so it’s been a few months, but the vendor does seem active.
In order to get in touch with support, traders can direct message Fanur on his MQL5 Profile. Generally, the response time for this type of support on the MQL5 marketplace isn’t as effective as a more commercial expert advisor.
EA Sapphire Review
The EA Sapphire robot is a highly rated program on MQL5, but this doesn’t always mean that it’s an effective system. We’ve seen these ratings be manipulated in the past, which makes it very important that we do a full analysis of Fanur Galmov’s trade approach.
The vendor tells us that the software uses “a strategy of rebound or breakout of the key level” when determining entries. Then, the positions are contained by a protective stop order, and break-even levels. All trades also take the economic news and other filters into consideration.
In the advantages section of the sales pitch, is a quote that says the robot “does not use indicators, grid, martingale, arbitration.” Yet, in the parameters section are 6 different settings that are all connected to grid trading. These are GridMultiLot, GridTakeProfit, GridFirstOrdersStep, GridNextOrdersStep and GridMaxDD. It’s hard to believe that this strategy doesn’t have any grid elements, when you can see them within the parameters. This is likely something that needs to be resolved.
Grid trading can be very risky, so most vendors want to disassociate themselves from this strategy, but this isn’t the correct way in doing so. We would rather have 100% transparency, as that’s what we expect from the best Forex robot vendors.
- Type: Forex Robot
- Price: $199+
- Strategy: Multiple including grid
- Timeframe: H1
- Pairs: EURUSD, GBPUSD
The EA Sapphire pricing model is different from most robots in that the price rises based on how many orders are placed by the community. Right now, the software has 6 copies left at $199, which will raise to $249 and inevitably become even higher than that after those 15 copies are sold. This is a marketing strategy to create more interest, but it doesn’t interest us that much. We prefer products like Forex Steam, an EA that hasn’t raised it’s price since it was released 10 years ago.
Traders can also purchase the software on a monthly basis, but these prices are too high to consider being worth it.
The majority of the client feedback is very positive with 56 reviews, and nearly all of them touting 5 stars. In fact, you really need to search through the page to find a 1 star review or anything negative. Regardless, we will show 1 positive and 1 negative so that you can see both sides of the coin:
Currently, the vendor provides us with a single MQL5 signals account for us to see the EA Sapphire trading results. Generally, we prefer Myfxbook, because it’s a much more secure platform, and one that verifies the trading accounts so there are no inconsistencies.
The trading account provided, shows a 92% gain on an ICMarkets demo, with 82.4% profit trades and 17.6% loss trades. Over 47 weeks, with 324 trades the maximum drawdown is 38%.
The demo account has taken a $200 deposit, and turned it into $184 profit. We would like to see the software trade on a real account, so we can see how it performs in those conditions. We generally like to see a trading account prove that it’s at least worth the money spent for it.
While it may come across as a bit complicated, the EA Sapphire is an interesting trading product. There are aspects we approve of, and others that are not exactly in line with their own projections. It’s clear to us that this is a grid trader, so there is some risk, so be careful with how you decide to proceed. We would also like to see some verified Myfxbook accounts before we add it to our accounts.
If you have anything you would like to contribute, please comment now.
EA Sapphire $199+
- Client Feedback
- Customer Support
EA Sapphire is a Forex robot that comes with many different settings and adjustments.
Good client feedback
No live accounts