Swing VIP EA is a Forex robot that claims to have a 76% win rate. According to the vendor, this was the most reliable and downloaded Forex trading tool in the year 2020. In order to check the veracity of the vendor’s claims, we are going to analyze various aspects of the system like company profile, features, price, trading statistics, and user testimonials.
Swing VIP EA company profile
The parent company behind this robot is known as SinryAdvice. This organization has its headquarters in Malaysia, with the technical, customer service, and marketing team located in India, Tukey, and the United Kingdom, respectively. The team has 18 employees, but we don’t know their identities. As such, it is not possible to determine whether they have the required experience in the Forex market.
The highlights of Swing VIP EA
This EA looks for indicators like PPO, CCI, trend, and price action. It is compatible with five Forex pairs, namely AUD/CAD, EUR/USD, GBP/USD, USD/CAD, and NZD/CAD. The vendor recommends running it on M1 charts. There is no need for manual inputs since the system opens and closes trades automatically.
You need to make sure your MT4 platform has the auto trading option for the EA to work properly. For best results, you ought to keep the robot on 24/7. It is possible to use a VPS with this system. For each $1000, you should use a 0.01 lot size. You can use $500 for a 0.01 lot size, however, the vendor claims that this will increase the drawdown to around 35%.
According to the developer, you should not use mini or cent accounts. Instead, you should go for ECN or standard accounts. The leverage must be more than 1:100. This robot works on all brokers that support MT4, but it is vital for the broker to have a fast server, low swap, and low fees. The vendor recommends using the Opoforex broker and 1:500 leverage for best outcomes.
For the price action strategy, the EA monitors the recent price movements rather than depending only on indicators. While following the Trend trading strategy, the EA determines the market’s direction with the help of indicators. This way, it tries to predict future price movements.
Facts & figures
This EA was launched on April 25, 2021. Since that time, it has conducted a total of 1593 trades through this account. At this moment, the account has a healthy win rate of 69%, due to which it has generated a total profit of $50,196.81. Currently, the daily and monthly gains for this account are 0.14% and 4.26%, respectively. The drawdown of 18.07% is within the acceptable margin. This account currently has a time-weighted return of 50.13% and a decent profit factor of 1.32.
Here you can see the recent trades placed through this account. The EA conducts trades with a fixed lot size of 1.60, holding orders for several hours and sometimes for days. We can see that the system is prone to suffering consecutive losses. Towards the beginning of February 2022, there were six back-to-back losses.
Unfortunately, the vendor has shared the backtesting results, so we cannot compare the two in order to get a clearer idea about the robot’s profitability.
Swing VIP EA packages
The current price of this robot is $145. This is a discounted price, with the true price being $290. By purchasing, you get one real and one demo account license. The vendor offers lifetime updates and a 14-day money-back guarantee.
There is an official email address for the support team. You can also use the live chat feature on the website.
Unfortunately, there are no user reviews for this expert advisor on websites like Trustpilot, Forexpeacearmy, Quora, and Myfxbook.
Is Swing VIP EA a reliable system?
This system is cheaper compared to others. It has verified live statistics, but no historical test results. The refund window is quite small and the recent performance has been disappointing.