Today I’m reviewing a new expert advisor that promises traders a consistent automated trading solution, empire of scalping, or EOS Forex EA. This product comes with free updates, a 30 day money-back guarantee, no monthly fees and free installation. As always, I recommend emailing support, to see how fast and effective they are at responding to your questions, before deciding to sign up.
The developers of this software claim to be a team of experts software programmers, that formed in 2015 to build this expert advisor. There doesn’t seem to be a name for the company, or trading group, but they are located at 33 Mong Kok Rd, Mong Kok, Hong Kong. In order to get in touch with support, traders can either add ea_stone on Skype, or email via the contact form located on the sales page.
EOS Forex EA Review
There are 4 main aspects the EOS Forex EA team pushes in order to promote their software. They tell us that it is a great expert advisor, that it is consistently profitable, easy to customize and will give traders the opportunity to become rich.
The sales page is quite underwhelming in terms of overall information, as the developers are likely speaking English as a second language. There are a multitude of spelling and grammar mistakes, which doesn’t instill me with confidence, and hurts the developers in their description of the product.
The developers do very little to explain their trading approach, and give us know insight into their trading strategy. This is one of the most important aspects I look for when reviewing an expert advisor, so I’m obviously disappointed that this vendor is unable to provide us with this information.
I believe that developers should understand their strengths and weaknesses, and make up for them as best they can. In this scenario, it’s clear that the developers should be hiring content writers and editors to put together their website. Speaking English as a second language is not an excuse for poorly put together sales page. This team could easily shell out a few hundred dollars to a copywriter, and have much more to offer us. I’ve seen similar issues in recent reviews I’ve written, like the On Control EA, CCI Scalper and Forex Pepper Bot.
- Type: Forex Robot
- Price: $399
- Strategy: Scalper
- Timeframe: Undisclosed
- Pairs: AUDCAD, AUDCHF, AUDNZD, EURAUD, EURCAD, EURCHF, EURGBP, GBPAUD, GBPCAD, GBPCHF, GBPUSD, USDCAD, USDCHF, USDJPY
Going for $399, the EOS Forex EA is on the more expensive spectrum of automated trading robots. Likely due to the language barrier, there is no information provided about the timeframe the software uses, or the specifics of the scalping strategy. Based on the fact that this is a scalper, we can assume that the system most likely runs on a small timeframe, either M1, M5 or M15.
While the description is lacking, the developer does provide three Myfxbook accounts, showing an impressive long term view of the EOS Forex EA. The longest running account being provided, has been trading since the beginning of July in 2016. This account is showing a gain of over 260%, with a drawdown of just under 23%.
During this period of over 2 years, the EA traded almost 1200 times, with an average trade length of just over 11 hours. Considering that this is a scalper, it’s quite odd to see that the average trade length is almost 12 hours in length. One of the most important aspects of every scalper, is getting in and out of trades quickly, but that’s certainly not the case here. This is where it would come in handy if the developers were able to provide us more information on their strategy, because I would really like to know why this scalper is holding trades open so long. In some cases, the software is holding trades open for multiple days, just to pick up a couple of pips.
In looking at the monthly gain analytics, we can see that the software has been pretty consistent, with the only losing months coming in early to mid 2017. In 2018, the software is showing some pretty steady gains.
Despite the impressive trading results, there is still very little discussion about the EOS Forex EA throughout the automated trading community. Before signing up, I would like to see more client accounts, to ensure that the software works without developer intervention. I’m not going to say with 100% certainty, that I believe the developer is intervening with the trades, but seeing trading accounts from actual clients would certainly put my mind at ease.
If you’ve used this software, please leave a comment below and share your trading accounts for us all to see.