You can guess by its name that Promax Gold EA is an automated trading system.
[editorial-rating id=”3626″]
Promax Gold EA breakdown
1. Development
Promax Gold EA has been in development since March 2021.
2. Prices & Packages
Promax Gold EA, which provides you with the following: one live account, one demo account, free updates, superb customer support for a price of $198
3. Pairs
With Promax Gold EA, you can trade XAU/USD on the M5 timeframe.
4. Timeframes
Promax Gold EA runs and executes trades on the M30 timeframe.
Trading strategy
Promax Gold EA can be considered one of the most efficient gold trading robots on the market. It has an intelligent news filter that analyzes the market through technical and fundamental news. Since the EA is fully automated, it executes and closes trades automatically, meaning that you only have to set it up on their default settings, and it will run on its own.
Promax Gold EA has an innovative grid trading system that starts when it goes into drawdown, intending to close the trades in breakeven without losses. Using this trading system can be risky since trades have a chance to not return to breakeven, so make sure you understand how intelligent grid trading systems work and all the risks that come with them.
Promax Gold EA backtesting
Promax Gold EA only has backtesting information for recent months, which you can look at in the video below:
They have no backtests for more extended periods, which would be helpful information about how the EA has performed historically.
Promax Gold EA live results
It is essential to keep in mind that any results shown by Promax Gold EA are based on historical data, which doesn’t guarantee how the robot will perform in the future. It would be best to consider the risks while being involved with trading online.
Clients comments about Promax Gold EA
Promax Gold EA has no client comments on Trustpilot and Sitejabber.
You can find some clients’ comments at the bottom of their website, which you can access by clicking here.
However, you can check MyEaAcademy, the creators of Promax Gold EA, on Trustpilot. You can see that some reviews mention this robot and give positive feedback about it.
Conclusion
In conclusion, Promax Gold EA is a fully automated EA that trades XAU/USD. They have excellent results with average drawdowns. The feedback about Promax Gold EA is very positive, and Myfxbook also verifies it.
Promax Gold EA has an innovative grid trading system that starts when it goes into drawdown, intending to close the trades in breakeven without losses. With that being said, you should understand the innovative grid trading system to recognize the risks that come with it.
The only flaw that Promax Gold EA has is the fact that it is relatively new and that it only has backtesting data for a few recent months, not a more extended period to gain historical data about its performance.
