We’d like you to read a review of a Forex Ninja EA. The presentation looks well-designed. The developer added the info about the minimum price ($39) and gained pips in 2019 to the main page. The key statement is “Discover The Possibilities of Auto-Trading on Forex.”
How Forex Ninja Works
It’s rare to see outside the MQL5 forum the developer’s name and picture. It’s a huge move forward in increasing the trust level.
The robot has not a big list of revealed features:
- Forex Ninja is a fully-automated trading solution.
- It works only on the MT4 platform.
- The system requires to be run on a VPS service to be profitable.
- Running the EA on an ECN account is the must.
- The presentation is featured by a profit calculator.
- We can set an account balance, range, and a number of pairs.
- The developer promotes an InterServer VPS service.
- We can pick a broker from the screenshot from the presentation or from the myfxbook list.
- We can earn 15% commissions from promoting the product.
The presentation has zero explanations of what the strategy or strategies are behind the system. The single reason for not providing this intel is that there can be a Grid plus Martingale combo that many don’t like. As a result, we don’t have backtest reports for each currency pair with various risk, spreads, and slippage settings. It’s a solid con.
Forex Ninja Trading Results
Forex Ninja works on a real EUR account, trading through IC Markets. It works automatically, using technical indicators from MT4. The leverage is set at 1:500. The account was registered on March 25, 2020. It has a verified track record. The account is tracked by 22 traders. The absolute gain has become +153.09%. An average monthly gain is high – 9.68%. The maximum drawdown is high as well – 29.80%.
The EA closed 1032 deals with 1992.8 pips. The win-rate is high – 82% for both: Longs and Shorts. The Profit Factor is 1.64. An average trade win is 6.77 pips. This is three times fewer than an average loss of -21.46 pips. The average trade length is a bit over four hours.
As we can see, some of the currency pairs aren’t profitable. The most profitable in pips (244.7) is EUR/AUD.
The robot focuses on trading past Midnight trading hours and stops trading after the European market closes.
It trades all days equally by the number of deals.
The EA runs the account with insanely high risks to the account balance.
We can see open trades and how they experience drawdowns.
From trading results, we know that the robot uses a conservative Grid with a huge Martingale to recover after Grid orders experienced losses.
The system hasn’t lost any months since the beginning.
Pricing & Refund
The pricing is based on subscriptions. For large accounts and bigger terms will be a higher price.
The lowest price is $39. After reaching $4050 for six months’ rent, the price stops growing. The pack includes set files for twenty-four currency pairs and access to a chat.
Comments are fake because all these guys are beta testers, not real clients.
There’s a page on Forex Peace Army with a positive testimonial. According to it, it seems to us this feedback is fake.