Unbeatable EA is programmed to execute trades automatically. It also generates trading signals. The developers assert that the EA is flexible in that it trades many instruments with diversified risk. They also note that unlike humans, this EA trades without emotions, and this is what enables it to make profits. The robot works on the Meta Trader account. To start operating the account, a minimum balance of $100 is recommended. The trader is also advised to use it on ECN, Zero Spread, and Standard accounts as well as use HotForex or FB brokers.
Is Investing in Unbeatable EA a Good Decision?
Traders should not invest their money in this EA. As we will see later, the developers operate in secrecy, the strategy used is unclear, backtest data is inadequate and user reviews are lacking. Therefore, we believe that this is not the right EA for traders who want to be successful in the Forex market.
We do not know the company that developed this EA. We could not find any information about it on Unbeatable EA’s official website. Therefore, we cannot tell its name, what it specializes in, its location or even its reputation in Forex trading. Since the vendor has decided to hide this kind of information, they should not be trusted.
The EA’s features are listed below:
Adaptable to the market
Responsive customer support
Fast Order Execution
Does not apply long trades-closes deals within 24hours
Visible TPs and SLs
Does not use martingale or hedging
Provides an exit plan
According to the vendor, the EA applies a simple formula to compute the amount of money a trader wants to make monthly. The formula is provided below:
Recommended balance= (profit the trader wants to make per month)/0.5
This strategy description does not inspire any confidence in the robot’s ability to make profits for the user. This is because the approach is vague as it does not explain the indicators that the robot looks out for in the Forex market and tracks.
Unbeatable EA promises unbeatable performance. The vendor also states that the robot will save the traders’ time and make Forex trading profitable for them.
The software has 2 price options. Unbeatable EA+ Robot for traders costs $110/month and features a free 7 day trial, 1 demo and 1 real account. CopyFX unbeatable EA for investors is offered at 30% of profit. This plan neither requires a monthly payment nor an advance payment. The vendor provides a 30-day money back guarantee. We believe that the cost of this EA is relatively expensive compared to the average price in the market. It is not worth the trader’s money.
A screenshot of backtest results is provided below:
Evidently, the account executed trades using the GBPUSD currency pair on a 15-minute timeframe. The initial deposit was $100, and out of this, it generated a net profit of $7,787.7. The drawdown was 12.78%. We believe that the backtest information is insufficient. Important data such as the period of operation, the number of trades executed, win-rates and the profit factor are missing.
The account has been in operation for less than a month and has managed to increase the deposit from $99 to $155.50. The profit obtained is $56.50 which represents a growth of 57.07%. The daily and monthly profits currently stand at 3.28% and 57.07% respectively. The drawdown is 12.71%.
The EA has executed 77 trades. It has attained win-rates of 73% for longs and 80% for shorts. These results are not promising. The profit factor is 3.63. The pips made are 607.1. The average win is 13.89 pips while the average loss is -13.31 pips.
The software operates with high risks to the balance. In order to lose 10% of the account, it has to lose 12 trade deals consecutively.
From the trading history, it is clear that the account made small gains. It also operated with fixed lot sizes of 0.01. Furthermore, it used different trailing stop losses and take profits.
We visited websites like Trustpilot, Quora, myfxbook, and Forex Peace Army but could not find any user testimonials for this EA. Subsequently, we were unable to determine if users are satisfied with its services or not.
Unbeatable EA Review Summary
Traders should refrain from using this robot. The vendor is not transparent and hence cannot be trusted. User testimonials for this EA are lacking and this makes it hard to determine its reliability. In addition, the strategy is unclear. So, we do not know exactly how the robot works to make profits and whether it is effective or not.