Euro Master Review
Euro Master is an automated trading robot, which uses unique ‘artificial intelligence technology for market analysis to find the best entry points’. It was developed to trade only one pair - EURUSD. The developers say that for a 16 years period this EA has shown stable trading results without any dangerous trading approaches applied. How good is this EA? Can we rely on this trading software, which is on the Forex market for only 3 months? Trading results, strategy details, vendor transparency, risk factors, price, and other important information is discussed in our Euro Master robot review.
Trading Strategy Explanation
Euro Master is a Forex expert advisor which was released on November 6, 2020. Its developer is Stanislav Tomilov, located in Russia. He has a 5942 rating on the MQL5 community. Traders can get in touch with him via the MQL5 community or by email [email protected] Unfortunately, this is all information we could find about the developer.
Now, let’s talk about the main features of this Forex tool:
The latest Euro Master’ version is 1.20
- It works on the M5 timeframe
- It only trades EURUSD
- It uses unique artificial intelligence technology to find the best Entry point
- It contains self-adaptive market algorithms with reinforcement learning elements
- It showed stable trading result on the EURUSD currency pair in the 2004-2020 period
- It does not use any dangerous methods of money management
- It does not use Grid, Hedge, or Martingale
- It uses Hard Stop Loss and Take Profit for each deal
- It fits any broker conditions
- The developer recommends trading with ICMarkets broker
- The robot requires at least $100 on the deposit
- The software is easy to install
Although the dev claims that the robot does not use Grid, Martingale or Hedge for trading, he failed to say how his robot works and what trading approach it uses.
Backtest Data Analysis
The dev shares 2 backtest reports on MQL5. Let’s analyze the one with a low-risk level. These low-risk trading results date back to 2004 and ended in 2020. It was a EURUSD trading account on the M5 timeframe. The modeling quality is unknown with 7 provided by broker spreads. There were 1240871 bars in the test. An initial deposit was $1000. For 16 years of trading, the robot has traded 2983 trades. There were 499 consecutive wins and only 1 consecutive loss. Its win-rate was 99,44% for Short and 99,49% for Long positions. Its Profit factor was incredibly high - 22. The maximum drawdown was 8,5%.
Live Trading Data Analysis
Stanislav Tomilov provides us with the trading results of his EA.
This trading account was deposited at $119. It trades with 1:500 leverage with ForexChief-DirectFX broker. It has traded 35 trades and all of them were profitable ones. Its maximum drawdown was 36.4%. Its profit is 13 561.08 USD. Its average trade length is 23 hours.
We’ve conducted additional research and found a live trading account on myfxbook.com. This EA Euro Master account was added on myfxbook.com website on January 02, 2021. It was a Real USD account that ran on the MT4 platform. It traded with 1:500 leverage with IC Markets broker. Its track record, as well as trading privileges, were verified.
It was deposited at $1000. For 1 month and 2 weeks of trading the Euro Master robot has brought only $26, 59 of profit. Its total gain and monthly gain were 2, 66%. The average daily gain was very small – 0. 66%. Its peak drawdown was 58, 97%. Taking into account incredibly low gain results, the drawdown of 58% was too much for this trading account. The EA traded only 3 trades (won 100% out of them) and 24,2 pips.
Its average win was 8,07 pips/$8, 86. The average trade length was 1 day. Its win rate for both Shorts and Longs was equal – 100%.
The robot turned out to be not as profitable as its dev claimed. Because of the high drawdown, the EA was stopped on January 21, 2021.
Those who are interested in Euro Master, can easily buy the robot on the MQL5 market.
It is sold for $499. The dev also offers a Free Demo account as a test version of this EA. Interested in the software traders can test the robot to decide whether it suits their trading needs. We are also told that the price will rise as soon as the remaining 4 copies will be sold out. The next price will be $100 higher:
It should be mentioned that there is a good option for traders to get the EA for free. Stanislav Tomilov, on his Telegram group, provides a step-by-step guide on how to get any of his EAs for free. For this, you need:
- Open a trading account with At Axi broker at his link
- Deposit it at $500 (a minimal requirement)
- Send him emails with a screenshot with your At Axi approved account and point out what expert you need (Euro Master)
- Get the EA
- Start trading with the EA
Unfortunately, we could find no positive feature to recommend this EA. There are a number of drawbacks, such as:
- No live trading results verified by myfxbook or fxblue provided
- Backtest results cannot be verified
- Undisclosed trading strategy
- Expensive price
- High drawdowns
We do not recommend this EA. The Euro Master robot trades with extremely high drawdowns. Paying $499 for the EA that can only provide $26 of profit for 3 weeks of trading, is too much. If the vendor wants to be taken seriously he needs to provide detailed trading strategy information and live trading results verified by reputable 3rd party websites such as mufxbook.com or fxblue.com. We advise Stanislav to decrease the price for his EA until it does prove itself as a profitable trading tool. Until now paying $499 or what is more, $599 for a Euro Master robot is a madness.