Robinhood FX EA is a trading software for the MT4 platform that works automatically without any user input. This EA claims to be the most profitable FOREX robot that uses non-Martingale trade management. It is designed professionally to reduce losses and allows only the profitable trades ensuring maximum gains. As per the vendor, the software analyzes the market daily every hour and identifies the closing and opening transactions.
Robinhood FX EA: to trust or not to trust?
As an FX robot that works on the MT4 platform, we could not find much info about this FX EA on the official site. From analyzing the various aspects of this EA our initial conclusion is that it is not a trustworthy expert advisor. While the vendor presents a live verified account, the results look suspicious. The lack of backtests and strategy explanation are a few other downsides that make us suspect the reliability of this MT4 tool. Let us first look at the features of this FX robot before we analyze its crucial features.
Features
As per the vendor info, this FX Robot is fully automated and can generate stable monthly profits with minimal losses. The profitability is due to the successful strategy the ATS uses. Two important systems are present in this EA which according to the vendor make it successful. Specific and meticulously calculated trades and proper management of user capital are cited as the two key factors that ensure success.
Lot size proportion to account size, hidden SL, advanced SL which is tight and moves within a smaller frame for maximum profits are some of the features this FX EA boasts. The EA looks for specific market conditions and when they are favorable trade is executed. In the event of unfavorable conditions, the EA closes the trade to avoid losses.
This ATS works with all brokers and with cent, micro, STP, and ECN accounts. It has an inbuilt magic number and easy parameters. A time frame of H1 is recommended and the main currency pair it works on is the EURUSD pair. The recommendation for a deposit is $200 with a lot size of 0.01.
Now that we have seen the features of this FX EA, here are a few of the significant factors that have made us decide that it is an untrustworthy expert advisor:
- Verified but small sample size.
- Insufficient explanation of the trading approach.
- Lack of vendor transparency.
- Pricing.
Let us analyze each of these factors in detail.
Verified but small sample size
A real live CNH account verified by the FXBlue site is present on the official site. Here is a screenshot of the results.
From the trading statement, we can see that the initial deposit of CNH 281 has generated a total return of 101.31%. The balance and equity values are similar at 1,052.31 and the closed profit is 300.37. A monthly and weekly return of 41.9% and 8.7% are present for the account. The profit factor value is 8.11 and the profitability is 85.1%. A trading history of 62 days is present which is very short to assess the performance.
Insufficient explanation of the trading approach
As per the vendor info, this FX EA uses carefully calculated trade orders and robust management of capital. There is no explanation of the strategy used. The strategy is a crucial part of a trading system and the failure of the vendor to explain it raises a red flag. We suspect that the approach is too risky or ineffective for the vendor to not mention it.
Lack of vendor transparency
We could not find info related to the vendor, the founding year, location, etc. There is no information on the developer or the team responsible for the creation of the MT4 tool. The lack of vendor transparency is another downside in this FX robot that makes us suspect it is not a reliable system. For support, the vendor provides an email address and a phone number.
Pricing
To purchase this FX EA, you need to choose from the three packages available namely the Basic, Regular, and the Business package. The Basic package costs $127 and comes with one real and one demo account. With the Regular package, you get two real and two demo accounts while the Business package costs $167 which comes with three real and three demo accounts. Full automation and 24/5 support are part of all the packages. A 30-day money-back guarantee is present. When compared to the price of competitor EAs in the markets, the price is not too expensive.