Promax Gold EA Review
Welcome to you on Our Best EA Robot Forex Website. Today, we’ll take a look at the Promax Gold EA Review. This is a newly launched forex market Robot that may seem perplexing, but don’t worry, we’re here to answer all of your concerns. So, if you’re interested in trading with this robot and want all of the details, keep reading to the end.
Let’s get this game started!
What is Promax Gold EA?
The Promax Gold EA is an automatic trading system dedicated only to gold (XAU/USD) trading, as its name indicates. It operates on the MetaTrader 4 desktop platform, which is available for free from most online brokers.
My EA Academy, also known as SinryAdvice, is the firm behind the Promax Gold EA. I checked out the rest of the company’s forex offerings, including the Forex MG Pro EA. They’re situated in Malaysia and provide a variety of products, including forex indicators and robots.
Let’s get back to work with this Promax Gold EA Review.
Promax Gold EA Trading Strategy
On MetaTrader 4, the Promax Gold EA only works with the XAU/USD pair. If you have the necessary expertise and understanding, you can study numerous trading instruments. Simply select a risk level that is appropriate for you, since each trader is different, and continue reading to learn more about the Promax Gold EA Review.
With so many forex robots on the marketplace currently, it can be difficult to tell which ones are useful and which are harmful. The clever news filter, which allows it to evaluate both technical and fundamental news, is one of the major features that set the Promax Gold EA apart from its competitors.
Many forex EAs ignore the news, which is unexpected given the potential market effect of news releases. Trading robots have gone on month-long winning runs, only to be wiped out by a single major news event. You may always utilize an economic calendar to stay on top of market news and avoid trading around high-impact news releases that could create market volatility.
It’s crucial to remember that if the Promax Gold EA traders lose money, they’ll start building a smart grid in an attempt to go back to breakeven without losing money. The concern is that things might quickly spin out of hand if transactions do not return to breakeven. Grid trading techniques aren’t my favorite because they frequently result in stop-outs and margin calls. Before you choose grid trading, be sure you understand how it works and the substantial dangers it entails.
Promax Gold EA Features
In this portion of the Promax Gold EA Review, we’ll look at some of the Promax Gold EA’s most important features.
- Only for the XAU/USD (GOLD) pair
- 5-minute chart period
- Comes with default settings
- Full set up instruction book included
- 1 Demo 1 Live account license is available to buy
- Updated for free
- Lifetime support
- EA closes and opens trades by itself
Prices or package information should be included in the Promax Gold EA Review so that traders may make an informed selection. This Forex EA used to cost $390, but it’s now only $198. When you buy this ATS, you’ll get a trial and a real account, as well as installation instructions and free upgrades.
There is a 14-day return policy available. According to the provider, users should use the application for 14 days on a trial account, and if they aren’t satisfied with the results, they may email the seller for a full refund. Both the return offer and the recommendation seem reasonable. Even if the initial pricing is high, the reduced price makes this EA reasonable and competitive.
The consumer feedback on the Promax Gold EA will be explained in this paper of the Promax Gold EA Review. On the official website, this FX EA has 49 reviews. So the rating we have seen is 4.9 out of 5 stars. Because this approach is so readily manipulated, we don’t use it to evaluate trading software. We get unbiased comments from sites like Forexpeacearmy, Trustpilot, and others.
We may use objective feedback to assess the true nature of the EA’s performance, as well as the assistance offered and other critical factors. Because there aren’t many reviews for this MT4 product, it’s safe to assume that gold traders don’t use it very often.
Pros and Cons
In this portion of the Promax Gold EA Review, we’ll discuss the benefits and drawbacks of the Promax Gold EA robot.
- A grid-based trading system
- Constant updates
- A user manual
- A completely automated trading approach
- Default options
- Accounts on Myfxbook for the MetaTrader 4 trading platform
- Automated gold trading
- Confirmed gold trading
- For certain dealers, it may be excessively expensive.
- The vendor is a young firm that has yet to prove its worth, and they owe a lot of background information to their consumers.
Conclusion Promax Gold EA Review
After doing our Promax Gold EA Review, we have come to the conclusion that the Promax Gold EA is just too hazardous for us. This is because it has a grid-based trading system, which we dislike. By opening several transactions, these algorithms try to catch market activity in both directions. When a big trend emerges, traders who trade in the other direction are left in the dust. This is when you will begin to lose a significant amount of money.
To begin, we are aware that certain traders are eager to experiment with grid systems. If we were to utilize the Promax Gold EA, we would start with a demo trading account.