Forex Real Profit EA (FRPEA) is a trading tool with full automation promising long-term returns and low risk. The vendor claims verified and proven results of 10 years on real accounts. This MT4 tool uses technical analysis and statistical probability for trading deals and does not need manual intervention. In this review, we assess the features, functionality, performance, and other aspects of this ATS to check the veracity of the vendor’s assurances.
Forex Real Profit EA company profile
The vendor does not reveal info on the developer or the team responsible for the design and development of this MT4 tool. There are no details concerning the company, its founding year, reputation, experience of the team members, etc. We could not find a location address or phone number. The absence of vendor info indicates a lack of transparency.
The highlights of Forex Real Profit EA
Some of the important characteristics of FRPEA that the vendor focuses on are:
- The MT4 tool uses multiple strategies including scalping and breakout methods.
- It works mainly on the GBPUSD and the EURUSD currency pairs.
- You can use any broker including ECN which the vendor recommends.
- Money management features include dynamic SL, TP, dynamic lot size, and safety SL.
- The ATS can generate a 61% winning rate with an average win of 25 pips.
- A minimum deposit of $1000 is recommended for optimal performance.
- This FX EA uses a large spread and slippage protection feature for safe trading.
Facts & figures with Forex Real Profit EA
Backtesting results and real accounts are present for this FX EA. Here is one of the backtests that the vendor provides.
From the above strategy tester report, we can see the testing was done for the EURUSD pair using the M15 timeframe from 2003 to 2021. For an initial deposit of $500, a total net return of 24360565.63 was generated over a total of 9890 trades. The profit factor was 1.35 and the profitability was 59%. A maximum drawdown of 11.51% was present. From the results, we can see the profits are high and the drawdown is low indicating a decent performance.
Here is a real USD account of FRPEA using the leverage of 1:500 on the MT4 platform verified by the myfxbook site.
From the stats shown in the above screenshots, a total profit of 701.42% and an absolute profit of 22.76% are present. The huge difference between the two values looks suspicious and may be due to a high-risk approach. A daily return of 0.07% and a monthly return of 2.16% are shown.
For a total of 1740 trades, the account that started in December 2013 shows 56% profitability and a profit factor of 1.21. The drawdown is 37.56%, which denotes a risky strategy. Comparing the backtesting results with the live account results, we can see the drawdown is higher and profits are low denoting a risky approach and below-average performance in the live real trading.
Forex Real Profit EA packages
To purchase this ATS, you need to pay $199 per year. The vendor assures long-term proven results, continuous updates, good support, consistent profits, and a refund with the package. Compared to the market average, we find the price is expensive.
For support, the vendor offers an FAQ section, a forum, and an online contact form. We could not find a phone number or location address for the vendor.
We found one user review for this FX Robot on the FPA site posted in 2011. As per the feedback, the system showed good results in the demo but failed to provide profits in live trading.
Is Forex Real Profit EA a reliable system?
As an MT4 tool, FRPEA offers a few advantages that work in favor of it such as:
- Verified proof of performance
- Backtests to prove the strategy efficacy
- A money-back assurance of 30 days
However, there are some downsides to consider. A closer look at the live results reveals a high drawdown and a discrepancy in the profit values that indicate a high risk. Furthermore, the package is expensive.