Today I’m reviewing a new Forex robot that promises to help traders exploit the Forex market and pull in a huge cash like real trading professionals, Mountain King EA. The creators of this service want traders to stop trading manually, and leave behind risky positions. They believe that traders to choose to sign up with their service can change their financial story, and increase their accounts at an exorbitant rate.
The creators of the software introduce themselves as a “team of experts with professional knowledge of Forex market trends.” As for who is involved in this team, that information is not provided. They also do not share where their head offices are located, but their servers are located in Moscow, Russia, so it’s likely the development team is Russian as well. In order to get in touch with support, traders can email email@example.com.
Mountain King EA Review
At first glance, the Mountain King EA sales page is very smooth and professional, but as you scroll down and read some of the content, the professionalism bleeds away. It’s quite apparent, that the developers of this website used an exact word press theme, and named their robot to fit the theme exactly. Once you get halfway through the website, the theme looks broken, as there are a bunch of images out of place, and content that doesn’t fit with the overall aesthetic. This doesn’t mean that the robot is the bad performer, but it does mean that the developers have done a poor job with their web design.
In terms of strategy, the team put forth the idea that they are using virtual trades. Yet, in looking closer at this statement, I recognize that it is plagiarized from the Forex Flex EA website.
This is a major red flag.
When the developers are explaining the strategy of their software, they’ve stolen the content from another expert advisor. This is almost unforgivable.
- Type: Forex Robot
- Price: $97-117
- Strategy: Virtual trades (not true)
- Timeframe: Undisclosed
- Pairs: USDJPY
The current price of the Mountain King EA is $97 for 3 licenses, and $117 for 5 licenses. The reason I put not true next to the virtual trades strategy, is in reference to what I discussed in the first couple of paragraphs where the developers stole the explanation from the website of another expert advisor. This makes absolutely no sense, and is a major issue that we just can’t gloss over. There is no reason why this developer can’t explain how the software works, which makes this type of deception both confusing and detrimental to their sales process.
The developers provide us with one live cent account with the Fibo Group brokerage. The account is hosted on Myfxbook, that is showing a gain of just over 350% since early August 2017.
The results can be quite erratic from month-to-month with the Mountain King EA jumping from an 84% gain, to a 8% loss, to a 138% gain, to a 12% gain. While these numbers result in a very strong overall performance, it does show that the system can fluctuate aggressively. In its worst case scenario so far, the EA has had a drawdown of nearly 29%. This is not a large drawdown considering how erratic the system can trade.
The EA trades the USDJPY exclusively, and during it’s 3 months of trading, there have been 100 trades. The average win and average loss are both approximately 32 pips, which makes for an effective win loss ratio.
After reviewing the Mountain King EA results, I’m even more confused about why the developers are plagiarizing from other Forex robots. The results show that the system can be profitable in the short term, and have some pretty impressive elements. Why they have chosen to steal content from other trading systems in order to promote their own makes no sense at all, considering that their software is actually performing well.
This lack of professionalism is stopping me from signing up with their service, even though I see some potential in the trading results. Please let me know what you think about this EA, by leaving your comments and questions below the article now.