Forex Real Profit EA Review

Forex Real Profit EA

Forex Real Profit EA (FRPEA) is an expert advisor that claims low risk and successful returns. The vendor claims substantiated long-term results and continuous upgrades to the software. A technical evaluation and statistical probability assessment are used for deciding the orders. This is a fully automated program that does not need manual intervention. According to the info on the official site, about six methods are used to ensure you get good results.  

We could not find vendor-related info, like the founding year, developer team, location address, phone contact, etc. For support, an online contact form is present, besides an FAQ section and a Forum page. 

Forex Real Profit EA at a glance

Price$199/year
Trading PlatformsMT4
Currency PairsEURUSD, GBPUSD
StrategyScalping, breakout methods
TimeframeM15
Recommended Deposit$1000
Recommended LeverageN/A
Money ManagementYes

Forex Real Profit EA functionality

Features of Forex Real Profit EA
Features of Forex Real Profit EA

According to the vendor, the key characteristics of this ATS that make it competitive in the market are:

  • It uses six different methods that include scalping and breakout methods. 
  • The EURUSD and GBPUSD are the currency pairs that this MT4 tool supports.
  • This software is designed to be compatible with all types of brokers, including ECN.
  • It uses dynamic TP and SL levels and safety SL ranging from 50-200 pips based on the strategy.
  • The lot size is dynamic and adapts to the prevailing market condition.
  • For the scalping approach, the ATS uses a filter for high-impact news.
  • Protective features for high spread and slippage are added.

Forex Real Profit EA trading strategy tests

Although the vendor mentions the use of six different methods, there is no detailed explanation of how each of them works. However, the vendor claims that there is no weekend trading, recovery feature, grid, or martingale methods involved in the strategy. For proving the strategy efficacy, links to a few backtesting reports are given. Here is one of the backtests:

Backtesting report of Forex Real Profit EA
Backtesting report of Forex Real Profit EA

The report shown above is for the EURUSD pair. It used the 15-minute time chart and an initial deposit of $500. For the testing conducted from 2003 up to 2021, the net returns in total were 24360565 and the profit factor was 1.35.

A 59% profitability and 40% of loss trades were recorded, showing the profits were above average for the system. For 9860 trades executed during the testing, the maximum drawdown was 11.51%, which is not high, indicating the strategy was effective.

What about Forex Real Profit EA trading results

A live real USD account authenticated by the Myfxbook site is present on the official site. Here are a few screenshots of the trading stats.

Growth curve of Forex Real Profit EA
Growth curve of Forex Real Profit EA
Advanced trading stats for Forex Real Profit EA
Advanced trading stats for Forex Real Profit EA

From the screenshots, we can see the MT4 terminal and leverage of 1:500 are used by the ATS. A return of 442% and an absolute profit of 53.87% are present. The discrepancy between the two values looks suspicious. It may be due to the withdrawals or the risky approach used. Other data include 0.05% daily returns and 1.65% monthly returns. 

For a starting deposit of $3,039, the drawdown value is 27.30%, which occurred over a sum of 7955 trades executed from June 2013. Of the total trades, 64% were profitable with the remaining being loss trades. The profit factor value is 1.16, which is considerably lower, indicating a below-average performance. 

Further, the drawdown is higher than 20%, which can signal a slight risk factor that most traders would steer clear of. Additionally, the lot sizes vary from 0.02 up to 0.12, denoting a higher risk. 

User feedback

User review for Forex Real Profit EA
User review for Forex Real Profit EA

We found one review on the FPA site, indicating that the performance in live trading is not as good as in the demo account. 

Forex Real Profit EA Review Summary

Forex Real Profit EA
3 5 0 1
FRPEA claims to deliver consistent and safe returns on your investment. Our evaluation shows the vendor has substantiated proof of long-term live results and backtests. The features and settings provide a better insight into the working of the program. Areas of concern in this FX EA are the high-risk factor seen in live trading, the absence of vendor info, and the expensive price tag.
FRPEA claims to deliver consistent and safe returns on your investment. Our evaluation shows the vendor has substantiated proof of long-term live results and backtests. The features and settings provide a better insight into the working of the program. Areas of concern in this FX EA are the high-risk factor seen in live trading, the absence of vendor info, and the expensive price tag.
3/5
Total Score
  • Functionality
    4/5 Good
    The vendor offers info on the features, recommendations, and settings for this FX Robot.
  • Trading strategy
    3/5 Neutral
    There are 6 methods used, including scalping and breakout, which the vendor fails to explain properly.
  • Live results
    2/5 Bad
    Long-term live trading stats are verified by the Myfxbook site, but indicate a risky approach.
  • Customer support
    3/5 Neutral
    An online contact form, an FAQ section, and a forum are present for addressing user queries.
  • User reviews
    2/5 Bad
    A single review is found on the FPA site that complains of poor performance.

The Good

  • Verified trading stats
  • Long term backtests and real trading results

The Bad

  • The developers of the robot are unknown
  • Discrepancies and big lot sizes in trading indicate a high risk
  • Price is expensive than the market average
Total
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