Today I’m looking at a new automated trading robot that’s built to work with all brokerages on the MT 4 platform, Prince FX EA. The software is built to be compatible with all currency pairs and commodities, even gold, silver and oil. There are quite a few questions being asked about the EA, so I’ll be providing a detailed analysis and review to answer every single one of them.
The company is located in Islamabad Pakistan, but we are not given the full address to their offices. Traders can get in touch with the development team by emailing firstname.lastname@example.org, calling +60-102758026, or messaging them via their Facebook page.
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Prince FX EA Review
The creators of the Prince FX EA software tell us that “consistency in profit,” is one of the most important aspects of their system. They believe that because of the advanced features they’ve implemented, that they have no issue in providing a high profit in return on investment for their clients. While this is all well and good, there is very little information about the strategy, or the affirmation features that are supposed to be the key to unlocking the consistent profits.
The closest the developers come to giving us any insight about their methodologies, is that they are FIFO compliant, and that the software works with all brokers. There seems to be a shroud of secrecy around many aspects of the system, and in their trading results as well, which I will get to in a bit.
- Type: Forex Robot
- Price: $2500
- Strategy: Undisclosed
- Timeframe: Any
- Pairs: Any
So, it looks like we are faced with another automated trading system with an exorbitant price tag. What the creators are dubbing as the Prince FX EA starter plan, is going for $2500 and provides traders with 20 live accounts and unlimited demo accounts. This is a really odd way of selling an expert advisor. As far as I’m concerned, the developers of this system should be selling one or 2 live licenses at a time at a much lower price. The majority of traders in the Forex robot market are not interested in running 20 live accounts.
The price increases to $3900 with 40 live accounts, $5900 with 80 live accounts, and $9900 with unlimited live accounts. Again, I have no idea who would want this many live accounts, and this doesn’t fit the markets needs very well at all.
The Prince FX EA creators provide us with one Myfxbook account, and a video of a back test. They don’t provide the actual back test, just a video.
As for the vendor Myfxbook account, it’s showing a 90,000% gain, but the absolute gain shows a loss of -1743%. This account is a very strange, as the trading privileges are not verified, and even the entire history is set to private. It’s hard not to believe that the vendor is trying to hide something with this account, because it comes across as too good to be true. Also, I would like to know how it’s possible for the gain to be so large, while having the absolute gain at a loss.
There is a big part of me that feels like we just can’t trust of this account.
On the sales page, we are told that the Prince FX EA currently has 1000 clients, but for some reason there aren’t any client reviews of the software anywhere online. There are a handful of reviews on the vendor website, but these can easily be fabricated by the developer.
If this system truly has 1000 clients, there would be a lot more information about it online, including actual client feedback.
Even after completing the review, I still have a lot of questions about the Prince FX EA, and what it has to offer the market. In my findings, it is quite apparent that the trading results are coming across as too good to be true and this only creates more questions, instead of providing answers. There seems to be a real shroud of secrecy around this product, and this is frequently the case with systems that are doing something illegal or untoward. Hopefully we get more information on the system, and some comments from real clients that help answer some of these questions that we need answered before even considering the system.