Forex Robots

Red Horse EA Review: An Expensive Gold Trading System

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Red Horse EA

Red Horse EA claims to provide the perfect addition to your trading tools. Designed to trade exclusively on gold, this FX EA can generate high profits and minimal losses. As per the vendor, the system is not completely automated but controlled partly by a team of expert traders. The manual control helps to reduce the risk and boost profits. Sinry Advice is the company that develops and promotes this FX EA. It comprises a team of FX traders and FX robot developers. The team helps in creating FX robots and custom indicators for the MT4 platform. Other products of the company include the Werewolf robot and TJ10X FX indicator.

Red Horse EA strategies and tests

According to the vendor, this FX EA uses a Top-bottom strategy and is dependent on volatility and volume. When you combine the system with an intelligent signal, it can place accurate orders. The vendor claims that the system can understand market sentiment with an 85% accuracy. In the event of the market moving beyond the order price, the grid of the EA will take over. The MT4 tool uses many scalping systems that can trade in 3 different types in a single robot.

Some of the significant features of this FX EA that the vendor focuses on are:

  • It can analyze technical and fundamental news.
  • It uses a customizable new filter.
  • Money and risk management settings are present.
  • It works mainly on the XAUUSD pair on the MT4 terminal.
  • An ECN or standard account type is required for this FX robot.
  • The minimum deposit needed to use this FX EA is $1000.
  • A timeframe of M5 is recommended for this ATS.
  • Recommended leverage is 1:500.

There is no proper explanation of the strategy present. Further, the vendor does not provide backtesting results which prevent us from assessing the system’s performance.

Red Horse EA track record review

A demo USD account verified by the Myfxbook site is present for this FX robot. The account using the Tickmill broker and the leverage of 1:500 on the MT4 terminal is shown here:

Growth curve of Red Horse EA on the Myfxbook site

Growth curve of Red Horse EA on the Myfxbook site

Trading stats of Red Horse EA on the Myfxbook site

Trading stats of Red Horse EA on the Myfxbook site

From the above stats, we can see the EA has generated a total profit of 33.10% for an initial deposit of $1000. The daily profit is 0.215 and the monthly profit is 6.44% for the account that started in November 2021. A drawdown of 19.85% is present. The growth curve shows a steep downward incline that indicates poor strategy. For a total of 554 trades, the profitability is 74% and the profit factor value is 1.41. From the trading history, it is clear that lot sizes of 0.01 and 0.02 are used. From the results, we can see that the profits are not high. While the drawdown is low, the lot sizes indicate a risky approach. Further, the vendor does not provide a real live account. The demo account does not provide a clear perspective of the real-time performance of the system.

Pricing

A monthly subscription package costing $59 and an annual subscription package that costs $495.60 are the two main packages present for this FX EA. A 14-day trial is present for the product along with two account licenses (1 real and 1 demo). When compared to the market average we find the price is expensive.

Is Red Horse EA a good system to rely on?

From our evaluation of the FX robot here are some of the important features that influence the reliability of the expert advisor:

  • Vendor transparency

The vendor provides info on the company like the location address, and phone number for contact. However, we could not find details like the founding year, team member expertise, the experience of the team members, etc.

  • Support

A live chat window, an email address, phone number, and an FAQ section are the major support methods the vendor provides for users.

  • No real trading stats

While the vendor provides myfxbook verified trading results, they are not real accounts. Instead, the vendor provides a demo account which makes it difficult to assess the efficacy. Further, the low profits and big lot size indicate an ineffective approach.

User reviews for Sinry Advice on the Trustpilot site

User reviews for Sinry Advice on the Trustpilot site

Unfortunately, we could not find user reviews for this FX robot on trusted sites like Forexpeacearmy, Trustpilot, etc. However, we found 115 reviews for the company on the Trustpilot site with a rating of 4.1/5.

Red Horse EA

5

Red Horse EA is a gold trading MT4 tool assuring high returns and low risk. Our assessment reveals that the system does not have real live trading results and backtests. Instead, the vendor provides a demo account. Further, the expensive pricing and lack of user reviews are other downsides we noted in this system.

  • An automated trading software
  • 14-day free trial
  • No real live trading results
  • Pricing is expensive
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