Ruby Forex EA is a new robot built to help traders automate profitable investment decisions. The development team’s goal is to help their clients “make the best decisions that enable them to be successful in their Forex trading endeavors from anywhere in the world.” They promise that experience isn’t necessary, and that their premium quality service is accessible to all skill levels. Today we will be providing a full review, and fact checking all of the elements presented.
At this point, it’s unknown who the creators of this service are, as they provide no details about their background in the Forex marketplace. The only detail they do provide, is that they debuted this software to the public in 2018. Yet, the WHOIS results show that the website was only registered in early October, 2019. This is a bit confusing, and we are unsure why the vendor is being deceitful in their presentation. We have to assume that they are trying to come across as a company that’s been around for much longer than they have, but this is really only hurting their reputation because now they are caught in a lie.
Ruby Forex EA Review
The website is well put together, with reasons why traders should use the Ruby Forex EA, a trading results section and a few different pricing packages. They present 9 different reasons why traders should use the software, including continuous updates, compatibility, money management, customer support and low minimum deposit requirements. None of these features are outside of the ordinary, and just about every single robot in this market can make every single one of these claims.
In order to qualify for best Forex robot ranking, the vendors need to either differentiate themselves or have trading results that simply can’t be ignored. So far, they have yet to differentiate themselves, but if possible that they can redeem themselves in the trading results section of the review.
The Ruby Forex EA team fails to provide any comprehensive details about their trading approach. The only thing they tell us is that they focus on a long-term trading strategy that avoids the use of scalping or hedging. This information really does nothing for us, as we have no negative experiences with either scalping or hedging methodologies.
Considering they are newcomers to this marketplace, we feel it’s very important that they provide a higher level of transparency. This lack of information will certainly be reflected in their ratings. We hope that they will read our review and take note of our critiques in order to provide better service to the community.
Strategy is important, and we always want vendors to prove their knowledge and capabilities when possible.
- Type: Forex Robot
- Price: $299-$499
- Strategy: Undisclosed
- Timeframe: H1
- Pairs: EURUSD
For traders interested in the Ruby Forex EA, it can be purchased from $299 to $499, depending on the package. The basic package goes for $299, and comes with 2 licenses for 12 months. The advanced package goes for $399, and comes with 3 licenses for 18 months. Lastly, the ultimate package goes for $499, and comes with 4 licenses for 24 months.
Not only are the price is high, but depending on the package purchased, traders will have to renew their license every 1 to 2 years. This pricing structure makes this one of the most expensive robots we’ve reviewed in quite some time.
In terms of trading results, the Ruby Forex EA provides a 2 year back test, and a single live account on Myfxbook.
The live account is currently showing a 298% gain and 36.92% drawdown since it launched on October 8th, 2019. During this time the robot placed 47 trades with an average trade length of 14 hours and 42 minutes. The win rate is approximately 93%, and the risk reward ratio is aproximately 1.7:1.
The only concern with the trading results thus far is a significant drawdown which has appeared a the end of January, that has yet to be resolved. The account has been holding multiple open trades open for over a week, and there doesn’t appear to be an end in sight at this time. It will certainly be important to monitor these trades to see how the software comes out on the other side.
The majority of the Ruby Forex EA presentation is professional, but they are lacking important information about their company and their trading strategy. We hope that they will take notice of our review and make adjustments to the sales page in order to meet the expectations the average Forex trader.
If you have anything you’d like to add to the review, please leave your questions and remarks below the article now.
Ruby Forex EA $399
- Client Feedback
- Customer Support
Ruby Forex EA is a Forex robot that’s main live account recently crashed.
Live myfxbook results
Low minimum deposit
No strategy insight
No company information