Red Horse EA is a 100% automated Forex expert advisor that claims to have a high profit margin and low drawdown. As per the vendor’s claims, the expected monthly profit of this robot is 12%-23%, while the maximum drawdown limit is 9.7%.
To check the veracity of the vendor’s claims, we are going to check out various aspects of this EA. These include the features, trading strategy, live statistics, pricing plans, reviews, and support.
Red Horse EA company profile
This is a product from the Sinry Advice team. The headquarters of this company is located in London, UK, and it is quite transparent in terms of providing its contact details. However, we don’t know when the company was founded and the vendor has not revealed the identities of the team members. Apart from Red Horse EA, this team has another EA known as Swing VIP Robot.
The highlights of Red Horse EA
This robot trades the market price with the help of a top-bottom strategy that is based on volatility and volume. When equipped with an intelligent signal, the robot will conduct a buy or sell order. The EA’s signal can understand up to 85% of the market sentiment. Once the market goes beyond the price order, the robot’s grid starts trading. The robot does not depend on a particular time session and it has multiple scalping systems that combine 3 trading types in one EA.
Red Horse EA has the ability to analyze fundamental and technical news. It has a customizable news filter and is only compatible with the XAU/USD pair. You can run the robot on the MT4 trading platform using efficient money management and risk setting functionalities. There is the option of using an ECN account, or you can simply use a Standard account.
The minimum balance for getting started with this EA is $1000. You ought to load the EA on M5 charts. Also, you need to make sure the auto-trading option is enabled on MT4. For best results, you need to keep the EA online using a VPS. The vendor recommends not using cent and mini accounts. The minimum account leverage is 1:500.
Facts & figures
Here we have a live trading account on Myfxbook that was launched on November 15, 2021. Thus, it has not been trading live for too long. After conducting 562 trades, the win rate for this account stands at 74%. By maintaining such a high win rate, the EA has generated a profit of $340.31. The daily and monthly gains are 0.21% and 6.38%, respectively. The drawdown of 19.85% can be considered acceptable for trading.
By analyzing the trading history, we can see that the EA rarely loses consecutive trades. For the last few orders, it has used a lot size of 0.01. On average, the robot holds each trade for 4 hours and 13 minutes. The average win and loss are 185.27 pips/$2.76 and -414.49 pips/-$5.53, respectively. Unfortunately, the vendor has not shared the backtesting results.
Red Horse EA packages
There is no one-time fee or lifetime plan for this EA. You can get the monthly plan that costs $59/month or the yearly plan for $495.60. The refund window of 14 days is pretty small, and it is difficult to gauge the EA’s performance during this time.
On the official website, you can find the phone number and the email address of the support team. You can also get assistance via live chat.
At this moment, there are no user reviews for this EA on websites like Trustpilot, Forex Peace Army, Quora, and Myfxbook.
Is Red Horse EA a reliable system?
Red Horse EA has an impressive win rate in the live market, but it has not been around for too long, which means the system has not been exposed to different market conditions. The pricing plans are not cheap and the refund window is too small.