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MATALINO FOREX EA has many claims over the website to convince traders to buy the algorithm. The developers state that it uses proven Forex strategies for beating the markets. Diving into the trading performance, we can know about the real outcomes of the systems. MATALINO is the only system offered by unknown developers. They provide no transparency on their whereabouts and coding experience which is suspicious.
MATALINO FOREX EA Strategies and Tests
The developer sends over the ex4 file after making a purchase which you have to place in the expert’s folder of your MetaTrader 4 directory. Then, enable auto-trading and place the robot on the respective charts to start trading.
Strategy Explanation
The robot was created to work on EURUSD and GBPUSD at the 15 minutes time frame. It utilizes the Bollinger bands, CCI, and other indicators, which the developer doesn’t mention to its advantage. There is a promise that the robot works with a win rate of 75%. To analyze further, we dive into the trading history at live records on FXBlue. From there, we witness that the system uses pure martingale and extremely risky grid strategies. In addition, there is no stop loss attached with any position, which adds even further fuel to the fire.
These types of strategies can wipe out your account in a matter of minutes. Depending on the situation, the robot can hold trades for several minutes to hours.
Features
The robot and the company have the following features:
- Fully automated trading with lifetime access
- 24/7 support with free updates
- Adaption to the market on auto mode
Backtesting
The developer does not provide any backtesting results for the system, which raises more red flags and increases suspicions. One of the reasons for not including any historical proof is that the algorithm must have failed easily due to the implementation of risky strategies. For such robots, the equity curve separates from the balance until the account reaches liquidation. Extreme trends render such a system useless.
MATALINO FOREX EA Live Trading Account Review
Live account results are available on the FXBlue platform, which shows the performance from 19th May 2021. The trading period is relatively short and is insufficient to make any positive conclusions for the robot. Unlike the popular claim of a 75% win rate, the ratio here is only 47.7%. The system makes up for it by showing a staggering profit factor of 38.05, which is impossible to achieve. It takes 47.2 trades per day and has an average win of $12.5 and a loss of $-8.45. On the worst day, the robot had a drawdown of 36%, meaning it wiped off nearly half of the trading account balance.
Pricing
The robot is available with three packages which differ in terms of the price according to the number of licenses. Silver is priced at $99 for one key, gold for $149 for two keys, and platinum for $249 for three keys. Considering that there are no backtests and the system is relatively new, it has a super high price. It should cost no more than $15.
Is the MATALINO FOREX EA a scam?
There is no transparency of the whereabouts of the developer. For all we know, you might be sending money to a scammer. The trading records are verified, but anyone can copy another grid or martingale system in the market, show live results for a brief period, and make money by selling counterfeit products. So there is a high chance that the algorithm is a scam.
Summary
Pros
- 30 days money-back guarantee
Cons
- No transparency of the developer
- It has a high price point
- Results are of a short duration
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