Expert AdvisorsForex

Red Horse EA Review: Things You Need to Know Before Investing

3 Mins read
3.0

Red Horse EA is a gold trading system that is fully automated. It claims to provide high returns with minimal risk making it a perfect tool for use by all types of traders. As per the vendor, the system uses market volatility and volume for identifying accurate orders. The fully automated system can understand 85% of market sentiment. It uses multiple scalping methods in a single robot.

Red Horse EA trading strategy

According to the info provided by the vendor, this system uses a top-bottom method that is dependent on trading volume and market volatility. The EA uses an intelligent signal for placing orders and if the market price exceeds the price order, the grid method will be used. As per the vendor, this ATS does not depend on the time session. It uses many scalping methods that can execute 3 different trading styles in a single EA.

Red Horse EA backtesting report

No backtesting reports are present for this FX EA. Backtesting is done using historical data and traders prefer it to understand the strategy and the efficacy of the robot. The lack of backtesting results makes it difficult to know about the approach used.

Red Horse EA live results

A demo USD account verified by the myfxbook site is present for this FX EA. The account using the Tickmill broker and the leverage of 1:500 on the MT4 platform is shown here:

Growth curve of Red Horse EA on the Myfxbook site
Growth curve of Red Horse EA on the Myfxbook site
Trading stats of Red Horse EA on the Myfxbook site
Trading stats of Red Horse EA on the Myfxbook site

From the above stats, we can see the total profit for the system that started in November 2021 with an initial deposit of $1000 is low. A daily profit of 0.22% and a monthly profit of 6.69% are present. The drawdown is 19.85%. While the drawdown is not high, the profit is low indicating poor performance and ineffective money management. For a total of 598 trades, the profitability is 74% and the profit factor is 1.47. A lot size of 0.01 is present which shows a low-risk approach. However, the low profits indicate the approach is not effective in generating high returns.

Some features of Red Horse EA

A few of the key features and recommendations of this FX EA are as follows:

  • The FX EA analyzes technical and fundamental news.
  • It uses a customizable news filter.
  • It works on the XAUUSD pair on the MT4 platform.
  • Money management and risk management features are present.
  • The EA can generate a monthly profit ranging from 12% to 23%. 
  • The maximum drawdown for the EA is 9.7%.
  • It works on the MT4 demo or a live account using ECN or Standard account type.
  • The minimum deposit needed is $1000.
  • A minimum of 1:500 leverage is recommended .
Total return38.48%
Maximal drawdown 19.85%
Average monthly gain 6.69%
DeveloperTickmill
Created, yearN/A
Price$59/month, $495.6/year
TypeTop-bottom strategy
TimeframeM5
Lot sizeN/A
Leverage1:500
Min.deposit$1000
Recommended deposit$1000 and above
Recommended brokersN/A
Currency pairsXAUUSD
ECNYes

Main things to consider if you invest with Red Horse EA

If you are interested in this EA, then you need to pay attention to:

Verified trading results

While the vendor provides verified results, the profits are not high as claimed by the vendor. Further, they are demo account results and not real trading stats. This prevents a proper analysis of the real-time performance of the EA.

Pricing and refund

Pricing is expensive when compared to the market average. A 14-day free trial is present and if you do not find it profitable in the time, the vendor provides a 100% refund.

Vendor transparency

Sinry Advice comprises a team of experts in Forex trading and the development of FX robots. The company provides a location address, phone number, and email address for contact.

Pricing details

To purchase this FX EA, you need to pay $495.60 per year or $59 per month. A 14-day free trial is present. The package includes two account license keys, one real and one demo. When compared to the price of competitor systems in the market we find the pricing is expensive.

Other notes

User reviews for Sinry Advice company on the Trustpilot site
User reviews for Sinry Advice company on the Trustpilot site

Unfortunately, we could not find user reviews for this FX EA on reputed third-party sites like Forexpeacearmy, Trustpilot, etc. However, we found 118 reviews for the Sinry Advice company with a rating of 4.1/5.

Red Horse EA Summary

3.0
Red Horse EA claims to provide high profits and low risk. On analyzing the various aspects of this FX EA, we find that the profits generated are not as high as claimed by the vendor. Further, the expensive pricing and lack of user reviews are other shortcomings you need to consider before deciding on this ATS.
3.0

Functionality

4.0

Reliability

2.0

Strategy

2.0

Price

3.0

Trading Results

4.0

Vendor Transparency

Pros

  • +A fully automated software
  • +Verified trading results
  • +Free trial

Cons

  • -Low profits in demo results
  • -Expensive pricing
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