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Red Horse EA Review

Red Horse EA

Red Horse EA uses volatility and volume for identifying profitable trades. A top-bottom approach is used for assessing the market price. As per the vendor, this MT4 tool can understand market sentiment up to 85% of the time. This is not a fully automated system but instead uses an experts team to monitor and control the trading. The vendor promises a monthly profit of 12% to 23% and a maximum drawdown limit of 9.7%.

How Red Horse EA works

We find the website has been revamped to give a new look to the company. The site is well designed and provides the basic info you need to know about the system. Sinry Advice is the company that develops and promotes this expert advisor. It comprises a team of developers and traders in Forex. The main mission of the company is to provide transparent and legitimate results. Other products include Werewolf, TJQ0X FX indicator, and more. Their location address is provided on the official site along with an email address and phone number. 

Important features and recommendations for this FX EA are:

  • It works by evaluating the fundamental and technical news.
  • A customizable news filter is present.
  • It uses money and risk management features.
  • The XAUUSD pair is the only pair this EA works on.
  • Standard or ECN accounts are recommended for using this system.
  • A minimum of $1000 is required as a deposit.
  • The leverage of 1:500 is recommended.

Applied strategies

According to the vendor info, this FX EA uses the top-bottom approach along with volume and volatility. It combines the methods with smart signal generation for making entries and exits. In the event of the price momentum going beyond the set price, the grid of the EA will take over. As per the vendor, this MT4 tool does not depend on time sessions and uses scalping systems capable of doing three different trading types in a single robot. 

We could not find backtesting results for this FX robot. Although backtesting cannot predict future performance, trades find it useful as the testing helps to understand the working method and efficacy of the system. The absence of backtesting makes it difficult to analyze the system properly.

Red Horse EA trading results

A demo USD account verified by the myfxbook site is present on the official site. Here are a couple of screenshots of the results:

Growth curve of Red Horse EA on the Myfxbook site.
Trading stats for Red Horse EA on the Myfxbook site.

From the above stats, we can see that the EA has generated a total return of 33.12% and an absolute profit of a similar value. The daily and monthly profits are 0.25% and 7.93% respectively. A drawdown of 16.71% is present. For a deposit of $1000, the account that started in November 2021 has completed a total of 454 trades. Profitability of 74% and a profit factor of 1.52 are present. 

From the trading history, we can see that a lot size of 0.01 is used. Although the drawdown indicates a low risk, the profits are not high indicating an ineffective approach. Further, this is a demo account and not a real live account. The absence of a real trading account makes it difficult to analyze the system properly.

Pricing & refund

A monthly subscription that costs $59, and a yearly plan costing $495.6 are present. The packages include one real and one demo account with only one account being activated at any given time. The vendor does not provide any other info on the features you get with the packages. A 14-day refund is present for the system. When compared to the price of other competitor systems in the market, we find the price is exorbitant.

Other notes

We found 115 reviews for the company on the Trustpilot site. A rating of 4.1/5 is present. Here are a few of the testimonials from users:

Negative customer review for Red Horse EA on the Trustpilot site.
Negative customer review for Red Horse EA on Trustpilot.

As per the above feedback, the system shows poor performance. One of the users complains of the expert advisor being ineffective in analyzing with a bad risk to reward ratio. Another user complains about the poor customer service and poor profits.

Overall rating
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