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Robot Reviews: Knox EA

Today I’m analyzing and reviewing a new developer releasing a range of different Forex trading robots, Knox EA. There are currently 4 trading systems for sale by this new vendor, and they claim that their “award-winning trading strategy” sets them apart from the rest of the marketplace. They claim to have won the best Forex robot in Asia at the 2016 Forex Expo, but the website is only a month old. This is cause for concern.

Robert Jan Teuwissen is the creator of the EA’s, under the parent company Quantpartner Limited. They’re located at Boulevard Bulgaria 58, Office Building Jaclyn, Building C, Floor 8, Unit 27, Sofia, Bulgaria. To get in touch with support traders can use Skype, knoxforexea, email, info@knoxforexea.com or phone IRL +353 1 254 4504, UK +44 20 3002 1208, BG +359 2 904 0550.

See what trading robots are ranked #1 and #2 here.

Knox Forex EA Review

The creators of these systems believe the traders should trust in their products because they are brought together “high end experts in the financial arena.” We are not introduced to any of these experts, so we cannot verify their identities. However, we have found a connection between the Knox EA, and another robot provider United Forex Traders. It turns out, that both of these expert advisors are owned by the same company, Quantpartner Limited. It seems as though, the most popular system United Forex Traders had to offer, the Turbine EA blew their trading account at the end of July.

As for the Knox systems, there are 4 in total.

  1. Knox EA
  2. Knox Dynamic EA (most popular)
  3. Knox Metal EA
  4. Knox Index EA

Each one of these systems has a few bullet points about them, but no real detail into their trade logic or general approach to the markets. There are Myfxbook demo accounts for each one of the systems, and I’ll go over those more thoroughly and the results section of the review.

So far, the approach of the developer is professional, but I would appreciate it more transparent straightforward approach when it comes to the strategic aspects of the systems.

Breakdown

  • Type: Forex EA
  • Price: Broker Sign-Up
  • Strategy: Undisclosed
  • Timeframe: Any
  • Pairs: AUDNZD, AUDUSD, CADJPY, DAX30, EURCHF, EURNZD, GBPNZD, GBPUSD

In order to get access to any of the Knox EA systems traders need to register for a new binary options brokerage account with either AxiTrader or Varianse. Personally, I don’t like this new marketing approach where vendors have such a close tie to the broker. I would rather pay my $200 or whatever it costs, and be on my way using the brokerage accounts that I’ve used for the past 7 years.

Trading Results

As I mentioned earlier, there are currently 4 Knox EA systems, and three of them provide Myfxbook demo accounts. The accounts a vary quite significantly both and how long they’ve been running, and the type of strategies that they are utilizing.

The main system, is showing a 24% gain in just over 2 months of trading, with a drawdown of 33%. At the time of that drawdown, it actually took the account into a negative balance, but then recovered. The creators do allow us to see the open trades, and currently there are over 2200 pips in negative drawdown open. They may be better off hiding this information, but I’m glad that they aren’t.

The metal system seems to be the most consistent, as it’s gained quite steadily since November 2016. Throughout this time, it’s had a drawdown of 17%, and it overall gain of just over 87%. Just like the other EA though, the metal system has an extremely large negative floating balance with nearly 12,000 pips going in the wrong direction right now.

Conclusion

There are certainly positive aspects to each of the Knox EA robots, but I would like to know more information on their trade logic, and get a better understanding of why they have thousands of pips in negative balance open at this point in time. The last thing I want to do is sign up for a system that’s already in the middle of a potential bust situation.

Please let me know you think about this collection of EA’s, and provide your experiences. Thank you in advance.

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their investment goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

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