EA Thomas Review

May 11, 2022 02:47 PM ET
EA Thomas Review

EA Thomas is a Forex expert advisor that is sold on the MQL5 website. It is compatible with the Metatrader 4 and Metatrader 5 trading platforms. The MT4 version of the EA was launched on February 15, 2022, while the MT5 version was launched on May 5, 2022. 

There is no official website for this EA. On the MQL5 product page, the developer has briefly explained how the system functions. We have the links for live monitoring, EA settings, and detailed setup instructions. They have also explained the trading conditions and shared a few screenshots of backtesting data.

EA Thomas

Type

Fully-automated EA

Price

$149

Strategy

Averaging

Compatible Platforms

MT4, MT5

Currency Pairs

XAU/USD, EUR/USD, GBP/USD, AUD/USD, NZD/USD, GBP/JPY, GBP/CAD, USD/CAD

Timeframe

M5, M15, M30, H1

Recommended Min. Deposit

$500

Recommended Deposit

N/A

Leverage

1:2000

Trading strategy explanation

This robot follows a unique trading algorithm that combines five different advisors at the same time. It simultaneously analyzes 5 entry points on different timeframes, depending on the level of risk. After that, it selects one of them to open trades in the market. From the EA settings, you can change the active trading strategy used for seeking out entry points as well as the timeframe it is suitable with.

EA Thomas has two trading modes, namely Conservative and Aggressive. The setting option for the conservative mode is A1, while the Aggressive Mode has two settings, namely A2 and A3. For A1, you can use a minimum deposit of $500 and place orders on the H1 timeframe. A2 requires a $1000 minimum deposit and the M5 timeframe. With A3, the most aggressive settings, you are recommended to use a $3000 deposit and the M5 timeframe. 

For A1 and A2, you can trade in pairs like XAU/USD, EUR/USD, and GBP/USD. A3 lets you trade in additional symbols like GBP/CAD, GBP/JPY, USD/CAD, NZD/USD, and AUD/USD. The slippage should be up to 5 points. This EA uses a unique averaging system that involves the trend, volumes, trend change, trend reversal, and consolidation zones. The developer recommends trading on a demo or a cent account for the initial two weeks in order to choose the best trading conditions. They have also recommended installing a VPS.

Backtest data analysis 

Backtesting results of EA Thomas on MQL5.

This backtest was conducted from 2019 to 2022 using an every tick model. The EA conducted a total of 89682 trades on the M5 timeframe for XAU/USD using an initial deposit of $100. By maintaining a high win rate of 96.44%, it was able to generate a sizeable profit of $16565611.08. There were 226 maximum consecutive wins and 3 maximum consecutive losses during the testing period. 

Live trading data analysis 

Trading Results

MQL5 Account

Real (USD), Exness 

Started

May 06, 2022

Deposit

$100

Balance

$180.96

Gain

78.35%

Daily

N/A

Monthly

78.35%

Drawdown

9%

Profitability

0.85

Growth chart of EA Thomas on MQL5.

There are no verified trading accounts for this EA on websites like Myfxbook, FXBlue, and FXStat. The vendor has shared a live monitoring account on MQL5 that was launched on May 6, 2022. Since the account has been active for only a few days, it is not possible for us to accurately analyze the performance.

After conducting 80 trades, the account has a healthy win rate of 85%. The win rate is a bit low compared to what we saw in the backtest, but still quite satisfactory. Looking at the maximum drawdown of 9%, we can tell that the EA does not follow a risky strategy. The current profit factor for this account is 3.15, while the total profit stands at $79.37.

On average, the EA conducts 80 trades per week, holding each for 46 minutes. The average profit and loss are $1.71 and -$3.08, respectively.

Price 

At $149, this EA is priced much lower than the market average. The vendor offers a free demo version of the robot that you can use for testing purposes. Unfortunately, there is no money-back guarantee offer.

User reviews 

User reviews for EA Thomas on MQL5.

There are no reviews for this EA on trusted third-party websites. This tells us that not many people are currently using it. The reviews on MQL5 cannot be considered authentic.

Review summary 

Pros

Cons

  • Affordable EA
  • No verified trading results 
 
  • No refund policy
 
  • Lack of vendor transparency

EA Thomas has no verified track record of consistently generating live profits. The developer doesn’t have much of a reputation and there are no reviews on third-party websites telling us about the user experience. Also, in the absence of a refund policy, investing in the EA is a one-way street.

Rating: 5/10


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