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Athena EA Review

Athena EA

Athena EA is a Forex EA promising a monthly profit of 8-25%. It also promises explosive account growth for trading accounts on the MT4 trading platform. According to the developer, you don’t need any prior experience with MT4 experience EAs to work with this robot.

How Athena EA works

On the official website, the vendor has highlighted the main features of the Forex robot. They have shared some performance statistics and explained the strategy in brief. We also have the details of the pricing plans, an FAQ section, and some reviews from users. 

The parent company behind this expert advisor is known as Elite CurrenSea. It is an award-winning company that was founded in 2014 by Chris Svorcik and Nenad Kerkez. These two people act as the current CEO and Head Trader, respectively. The third member of the team is CMO Mykyta Barabanov. Elite CurrenSea is based in Tallinn, Estonia. 

Using this EA, you can trade on your own account or invest in a managed account with zero upfront fees. You have the option of adding a VPS or you can let the account manager take care of the trading activities for you. For cent accounts, you can start with a small deposit of $50. For the rental option, the minimum deposit is 4000 Euros, while a PAMM account requires 400 Euros.

The vendor strongly recommends trading on an account with minimum leverage of 500:1. Since the take profit is only 4 pips, the EA is sensitive to spread. As such, it is advisable that you use zero spread or low spread. 

This is an EA that only trades in EUR/USD. It is important that you choose a broker that accepts hedging. The system consists of two EAs working in tandem, one placing buy trades and the other conducting sell trades. Based on the balance, the two of them must run simultaneously on multiple EUR/USD charts with various timeframes. 

Applied strategies

This EA follows a grid-trading algorithm with a specific take profit approach that aims to avoid daily losses. It trades price action and price swings using an elegant implementation of a classical mathematical equation. For exits and targets, it uses oscillators and moving averages. You can view the transitional drawdowns via intra-week and intra-day charts.

It is common practice for EA vendors to test their automated strategies using archival data. Unfortunately, there are no backtesting results for this expert advisor. As such, we have no idea about the long-term performance of the robot.

Athena EA trading results

Growth chart of Athena EA on Myfxbook.

This live trading account on Myfxbook was launched on January 07, 2021. To date, the EA has placed 21,406 trades through this account. It currently has a win rate of 72%, which is higher than most EAs. The total profit generated through the account currently stands at €17,178.75. 

While the daily and monthly gains are quite satisfactory at 0.24% and 7.40% respectively, the drawdown is 33.73%. The account has a time-weighted return of +182.06%, and a decent profit factor of 1.65.

Trading results of Athena EA on Myfxbook.

From the trading history, we can see that the EA generates very small profits from each trade. It places a large number of trades on a daily basis, holding each for an average of 5 hours and 18 minutes. For the last 20 trades, it has used a lot size of 0.01-0.03. The average win and loss are 6.44 pips/€2.85 and 18.08 pips/-€4.36, respectively.

Pricing & refund

For the managed account, there is a 25-35% profit share instead of an upfront fee. The rental plan is available for a yearly recurring fee of 799 Euros. For the lifetime plan, you need to pay 999 Euros, which makes the robot extremely expensive. Then there is the rental sponsored plan available at a yearly recurring fee of 499 Euros. The vendor does not provide a money-back guarantee. 

Customer reviews

User review for Elite CurrenSea on Forex Peace Army.

There are no reviews for this EA. However, on Forex Peace Army, there are several reviews for another product offered by the company–Zeus EA. Users have complained about the EAs draining their accounts.


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