Ranger EA is a fully automated Forex robot that promises to ‘make profit every single month’. Its developer claims that the EA has ‘0 losing months in 11 months of trading ’. Like many Forex EAs flooding the market these days, it claims to provide traders with stable income guaranteeing a solid secure monthly profit of 2.5-10% per month. It claims it can protect traders’ accounts from bid losses by turning potential bad trades into good ones. It sounds good, but can you trust the EA that was launched on the Forex market 3 months ago? What about its efficacy and productivity? Can you trust its developer? Is it a good choice for its price? Find the answers in this Ranger EA review.
How Ranger EA Works
The Ranger EA presentation looks promising and well designed. It includes all the necessary info about the robot: its features, trading strategy details, advantages, recommended brokers, leverage recommendations, pricing details, backtest reports, and live trading results. In this review, we will analyze each of these sections separately and in detail.
Let’s start with the main features of Ranger EA:
- Ranger EA V3.5 is seven times more profitable than V1
- The team that stands for this trading tool has worked on this EA for over 6 years
- Robot uses 2 indicator combo system
- Has over 11 months of profitable trading history
- Trades safely and predictably
- Was designed to trade with low drawdowns
- Provides 2.5-10% of profit monthly
- Trades GBP/CAD on M30 timeframe and AUD/CAD on H1 timeframe
- Can turn bad trades into good ones (how is it possible?)
- Benefits from trading up to 3 currency pairs
- Uses an RMI indicator
- FIFO compliant
- Can be tested on any Demo account for free without any time limitations
- Uses Gris trading strategy
- The vendor says his EA is a perfect choice for traders looking for a long-term trading opportunity
- The dev recommends to trade with EagleFX broker, recommended leverage for MT4 ENC account is 1:300
It uses a hedging money management system, which helps to analyze and monitor the value of different currency pairs. According to the vendor’s claims, the system uses this trading technique to turn losing trades into winning ones. Thus, even a trader with zero trading experience can profit from trading with Ranger EA. As we know, Hedging helps to protect an existing position from undesirable currency value changes by holding both short and long positions simultaneously on the same currency pair. Long story short it protects a position in a currency pair from the risk of losses.
The dev says that his EA can boast 10 years of successful trading performance. He provides 2 backtest reports performed on AUDCAD (From 2010-2020) and GBPCAD (From 2010-2020) pairs to prove his claims. Here we will look into the AUDCAD pair.
The good thing is that this backtest report can be verified as it is placed on myfxbook.com. It is a rare thing to see such a great level of transparency from the developer! Thus, it is a huge benefit.
Well, let’s analyze what we see.
The test was started on January 11, 2010, and the trading account was deposited at $1,000. There were 5 spreads. There was a 99, 9% modeling quality.
For 10 years of trading, the robot’s total gain has grown to +104015.01% with an average monthly gain of 5,53% and a high drawdown which was 55, 85%. After making a total of 1789 trades Ranger EA has earned 1040150.35 dollars of profit. This brought the profit factor to 4,53. From this backtesting data, we can also see that 71%% of 1789 trades were profitable. Its win rate of Long positions was 70% and 71% of short ones. The average trade length was 2 days.
We’ve also seen that the robot used Martingale for trading – increased its position size following a loss and doubled up Lot size after losses:
Despite using Grid and Martingale and trading with a high drawdown, the robot performed well on historic data (all the screenshots of trading activity are provided below):
Ranger EA Trading Results
Ryan Brown, the representative of Ranger EA, provides us with live trading results on 3 trading accounts, which are verified by myfxbook.com.
Let’s analyze the one that is placed on their homepage – Ranger EA V3.5 (Official):
It is a Demo USD trading account that works under Trader’s Way brokerage on the MT4 platform. It trades with 1:500 leverage. This trading account was launched on January 07, 2020, and to date, it has generated a profit of $ 795.56 from a deposit of $1,000. Its total gain is +79, 56%, the monthly average gain is 4, 41%, and daily gain is 0. 14%. Its peak drawdown is low – 10.19%.
Since the time of its activation, the robot has traded 733 trades and won 521 out of them, which represents 71%. Its win rate for Short positions is 71% and it is 70% for Long positions. Its profit factor is 2, 76. The average win ($2,40/27, 60 pips) is mostly the same as the average loss ( -$2.13/ -26.04 pips). While the gains are significantly higher on the backtesting results, live trading results of the EA show us that this system closes most trades in profits.
Pricing & Refund
Ranger EA comes for $497. It is also available for rent and costs $40/month or $120/3 months. A Free Demo Account is available for traders who want to test the EA before purchase. Payment is processed via PayPal. A Money-back guarantee is not included.
There are only 2 customer reviews written on the MQL5 market:
One trader says that there was no trading activity for a week, while the other one says it is the best EA available on the market. We’d like to see more reviews on FPA, Trustpilot, or Quora to have much information to analyze.