Expert AdvisorsForex

Promax Gold EA Review: Things You Need to Know Before Investing

3 Mins read
5.7

Promax Gold EA was developed by SinryAdvice to work with Gold on the real market. The presentation includes a claim that it’s the first fully automatic robot for Gold. We decided to figure out how well the system works.

Promax Gold EA trading strategy

We don’t know details about the strategy but if it doesn’t like high impact news it may be a Price Action strategy behind the system.

Promax Gold EA backtesting report

The presentation doesn’t include backtest reports. It’s a significant con because we can’t check how well the system was tested.

Promax Gold EA live results

Promax Gold EA trading results
Promax Gold EA trading results

The system was set up on Opoforex to manage real accounts on the MT4 platform. The leverage was common‒1:500. The account has a verified track record. This means that the data we see is trustworthy. It was created on April 25, 2021, and deposited at a significant amount of money–$100,000. Since then, the total gain has become 87.61%. An average monthly gain is 4.86%. It’s much less than 20-40% that was mentioned in the presentation. The maximum drawdown is 36.35%. 

Promax Gold EA statistics
Promax Gold EA statistics

Promax Gold managed to perform 802 deals with 21,903 pips. It has an average win of 238.08 pips and an average loss is -685.63 pips. It works with accuracy of 77% for longs and 75% for shorts. AIt keeps orders on the market for 50 minutes. The profit factor is 1.44. So, it’s not the best number.

Promax Gold EA directions
Promax Gold EA directions

The robot makes more profits on the long direction ($71,051) than on the short one ($16,791).

Promax Gold EA closed deals
Promax Gold EA closed deals

From closing orders, we can see that the system prefers working with deep SL levels.

Promax Gold EA monthly profits
Promax Gold EA monthly profits

It’s clear that the robot has to work for several more months to convince us that it will overcome losses.

Some features of Promax Gold EA

We have grouped all claims about the robot up in the following list for your comfort. We hope it helps you to make a wise decision.

  • The system allows us to get our orders performed automatically on a trading terminal.
  • It avoids opening orders during high impact news.
  • The robot can generate significant profits: from 8% to 15% monthly.
  • It calculates lot sizes for every open order based on the balance.
  • We can work with it on the MT4 terminal only.
  • The defaults settings were pre customized well.
  • We can trade on a demo or real account. 
  • The offer is final and there won’t be extra payments.
  • It will receive updates and upgrades when needed.
  • There’s no problem to install it quickly on a terminal.
  • A raw-spread account will be a good addition to this system.
  • It can sit in significant drawdowns.
  • We are not allowed to trade while it’s working.
  • Also, we can’t use other robots on this account.
  • The system can work well with Mini and Cent account types.
  • The robot requires a VPS service for more stable performance.
  • We can ask about a broker to work through.
  • The suggested broker is Opoforex. 
  • The leverage should be 1:500. 
  • It has to work with a balance of $1000 or more.
Total return87.61%
Maximal drawdown36.35%
Average monthly gain10.19%
DeveloperSinryAdvice
Created, year2019
Price$388
TypeRobot
TimeframeN/A
Lot sizeN/A
Leverage1:500
Min.deposit$1000
Recommended depositN/A
Recommended brokersOpoforex
Currency pairsGold
ECNYes

Main things to consider if you invest with Promax Gold EA

Automated trading 

The advisor can support us with automated orders execution.

Gold-focused solution

The robot works with Gold only, making significant profits.

Refund policy applied

We can get our money-back if we don’t like the robot’s performance. 

Pricing details

There’s an offer of $388. The developers decided to remove a discount of 50%. The package includes a real account copy of the robot, updates, upgrades. We can rely on a refund policy for 14 days.

Other notes

Promax Gold EA comments
Promax Gold EA comments

We have 92 reviews published on the site.

Promax Gold EA testimonials
Promax Gold EA testimonials

It looks like people were satisfied with the quality of this service. Unfortunately, we can not trust these claims as they cannot be verified.

Promax Gold EA Summary

5.7
Promax Gold EA is a robot that has been working with Gold for a year. It manages a well-deposited account. Even after a loss, the developer didn’t withdraw the account as believed the system could recover it. From the onsite testimonials, we can note that people are satisfied with the robot quality. However, we are not sure they are trustworthy as they cannot be verified.
6.0

Functionality

5.0

Reliability

6.0

Strategy

6.0

Price

6.0

Trading Results

5.0

Vendor Transparency

Pros

  • +A well-known developer
  • +Trading results provided
  • +A refund policy applied

Cons

  • -No team revealed
  • -No risk advice given
  • -No backtest reports provided
  • -Significant losses in the past
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