Powerhouse EA Review

Apr 25, 2022 01:08 PM ET
Powerhouse EA Review

Powerhouse EA is a Forex expert advisor launched by Responsible Forex Trading. It combines the features of 4 other EAs developed by the same company, namely Gopher, Vigorous, Ranger, and The Comeback Kid. As per the vendor’s claims, it is one of the most advanced auto-trading systems available to retail traders.

The presentation on the official website is quite detailed. We have a short introduction, followed by a list of features and a link to a live trading account on Myfxbook. There is a video that tells us how the EA works and some screenshots of trade setups. Finally, the developer has shared the settings recommendations and the pricing details.

Powerhouse EA

Type

Fully-automated EA

Price

$497

Strategy

N/A

Compatible Platforms

MT5

Currency Pairs

AUD/CAD, AUD/USD, EUR/USD, GBP/CAD, GBP/USD, USD/CAD, USD/CHF, USD/JPY

Timeframe

N/A

Recommended Min. Deposit

$5K

Recommended Deposit

N/A

Leverage

200:1 (high risk), 100:1 (medium risk), 50:1 (low risk)

Trading strategy explanation

This is an EA build for passive traders. Apart from combining 2 EAs, it also cross-pairs take profit. The vendor claims that this technique allows the different strategies to work together. It has an easy setup process and conducts an average of 15 trades per day. This tells us that the robot follows a high-frequency trading strategy, but the developer has not mentioned the actual strategy. We don’t know what indicators this system uses or how it identifies profitable trades. 

You can only run this EA on the MT5 trading platform. With the four RFT strategies, you can trade on 13 combined pairs simultaneously. Powerhouse EA uses smart filters to work with all the strategies at the same time. The EA settings are flexible, so you can use low, medium, or high-risk strategies based on your requirements. It uses protective stop-loss that you can customize. 

For a deposit of $5k, the developer recommends using a leverage of 200:1 while using the high-risk preset. The recommended leverage for a $10k deposit is 100:1 and the recommended risk setting is medium. For a large deposit of $20K, it is recommended that you use low-risk and 50:1 leverage.

Backtest data analysis 

Unfortunately, there are no backtesting results for this expert advisor. The developer has shared the download link for the backtest, but here we can only find the individual test results for the component EAs. Without historical test results, it is difficult to gauge the profitability of the expert advisor.

Live trading data analysis

Trading Results

Myfxbook Account 

Demo (USD), Trader’s Way

Started

Dec 14, 2021

Deposit

$5,000

Balance

$6456.36

Gain

29.15%

Daily

0.20%

Monthly

6.26%

Drawdown

12.50%

Profitability

0.58

 

Growth chart of Powerhouse EA on Myfxbook.

This live trading account on Myfxbook was launched on December 14, 2021. To date, the EA has conducted 1828 trades through this account, winning 58% of them and generating a total profit of $1,457.08. While the daily and monthly gains for this account are 0.20% and 6.26% respectively, the drawdown is 12.50%, which can be considered acceptable. The win rate is quite decent and so is the profit factor at 1.96. However, all of this is based on a very short trading history.

Trading results of Powerhouse EA on Myfxbook.

Here you can see the recent trades conducted through this account. The EA places multiple trades daily, holding each for an average of 9 hours and 25 minutes. For the last 20 trades, it has used a lot size of 0.01-0.02. The average win and loss for this account are 8.90 pips/$2.80 and -8.62 pips/-$1.97, respectively.

Vendor transparency

The chief developer behind Responsible Forex Trading is Ryan Brown, who is based in the USA. We don't know much about this person's background and he hasn't shared the details on all the team members. Some of the other EAs developed by this person include Vigorous EA, Ranger EA, and The Comeback Kid EA.

Price

The current price of this EA is $497, which makes it more expensive compared to others. There is a 30-days money-back guarantee for this product.

User reviews 

At this moment, there are no user reviews for this expert advisor on third-party websites like Myfxbook, Quora, Trustpilot, and Forex Peace Army.

Review summary

Pros

Cons

  • Verified trading results
  • Lack of strategy insight
 
  • No user reviews
 
  • No backtesting results

Powerhouse EA is a system that uses an unknown strategy to trade in Forex pairs. We don’t know much about the developer and the live trading account has not been active for too long. Also, the developer has not shared the historical test results.

Rating – 5/10


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