MG Pro EA Review

Nov 10, 2020 07:45 AM ET
MG Pro EA Review

We’d like to tell you about the SinryAdvice company and its product MG Pro EA.

SinryAdvice

The design of the presentation doesn’t look professional. Let’s figure out if we can find everything we need to make the right decision about this product.

 

MG Pro EA

Type

Fully-automated EA

Price

$288 (was $450)

Strategy

n/a (Scalping, Trend trading)

Compatible Platforms

MT4

Currency Pairs

AUD/CAD, CAD/CHF, EUR/USD, NZD/CAD, USD/CAD

Timeframe

M5 

Recommended Min. Deposit

$500

Recommended Deposit

n/a (up to $2000)

Leverage

n/a (1:200)

 

MG Pro EA presentation

The robot sells in a single package that costs $288 at $162 OFF. We’ll get one real and one demo license. We can download it after purchasing it. There’s no additional info about free updates, upgrades, and other useful information. The company provides refunding if the EA isn’t profitable.

MG Pro EA presentation

All of these four statements are lies. The funniest is that it’s about a 50% lower price. Of course, they didn’t provide any link on comparing other services and EAs.

The list of MG Pro EA’s features is the next:

  • This EA is the most profitable software across what they designed.

  • It’s got real account trading results.

  • The default settings are easy to use.

  • It’s a fully automated trading adviser.

  • The expected profit can be between 4% and 10% weekly.

  • It runs on a scalping time frame - M5. 

  • We can buy a VPS service to run it on the account every day.

  • The suggested Lot Size is 0.01 for every $500 of the account balance.

  • The next option is great. We can close trades manually if they reach 10-20 pips in profits or wait for the EA to close them.

  • We have to test the EA on the demo account for 14 days before getting started on the real one.

MG Pro EA demo account

MG Pro EA chart

These screenshots show how the EA sets and works on the charts.

Trading Strategy Explanation

The robot uses twelve indicators to analyze the market 24/5. It analyzes Price Action, Support and Resistance levels, Trends, and so on.

Backtest Data Analysis

The developers didn’t provide any backtest reports for any symbol to convince us that the strategy is well-designed.

3rd-party-verified Real-account Trading Data Analysis

 

Trading Results

Myfxbook Account

Real (USD), LiteForex

Started

Sep 25, 2020

Deposit

$500

Balance

$601

Gain

+20.02%

Daily

+0.44%

Monthly

+13.68%

Drawdown

-17.97%

Profitability

1.82

 

MG Pro EA Myfxbook

We’ve got a real USD Track Record Verified account on LiteForex. The robot trades with little leverage (1:200) through MT4. The account was created on September 25, 2020. Since then, the absolute gain has become +20.02%. An average monthly gain is +13.68%, with a medium maximum drawdown (17.87%). 

MG Pro EA advanced statistics

The robot traded 156 deals with a solid number of pips (1486). An average win (27.53 pips) equals an average loss (-24.47 pips). BUY direction has a 61% win-rate. SELL direction has 70%. So, there’s no 74% win-rate. The average trade length is two days. The Profit Factor is high (1.84). 

MG Pro EA trading results

The robot works with five symbols and trades them almost equally by profits, excluding AUD/CAD.

MG Pro EA trading results

MG Pro EA opens trades all day long.

MG Pro EA trading results

There are little trades on Mondays because of a lack of info from the market.

MG Pro EA trading results

The account is run by the EA with 3%-5% risks to the balance.

MG Pro EA trading results

MG Pro EA trading results

Results vary, but the EA is profitable. As an additional strategy, it uses hedging with fixed Lot Size.

MG Pro EA trading results

For EUR/USD, a BUY direction is a favorite in November.

The company

MG Pro EA company information

It’s rare to see, but the developers introduced themself as a team of 18 people who work on the same product living across the globe.

MG Pro EA presentation

MG Pro EA presentation

The presentation includes the wall with feedback and a summed rating. It’s hard to tell for sure if it’s correct and connected to reality.

Review Summary

Pros

Cons

  • The team is revealed
  • No settings explanations provided
  • Real account trading results provided
  • Little info about strategies provided
  • Good Profit Factor
  • No backtests provided
  • Medium pricing
  • The robot trades only several months
  • Money-back-guarantee provided
  • High trade length

 

Conclusion

This robot is so young to tell for sure that it’s a good EA to use. The second con, and one of the biggest ones, is that strategies are not explained well. We don’t know which ones were applied in the EA and what we have to rely on in our trading activity. It’s risky to buy MG Pro EA without tracking it for at least several more months.

Rating: 6/10


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