Bonnitta EA is a Forex robot developed by Ugochukwu Mobi. He claims that Bonnitta EA controls the quality of the broker execution before placing an order. The robot is currently on version 1.26 with over 3098 demos downloaded.
Bonnitta EA is a popular trading sold on MQl5 marketplace. We like what we see from Bonnitta EA in some areas, but in other areas we need more transparency. Meanwhile, the best Forex EA apply a tried-and-tested approach to trading.
About Bonnitta EA
The EA Bonnitta works on 3 Forex pairs including EURUSD, and GBPUSD on an H1 timeframe. The EA supports multicurrency in one chart, news filter, and Auto GMT.
The robot is currently sold at an exorbitant price of $5750 and the vendor claims that it is for limited buyers.
Recommended deposit is $1000 and there is no specific broker specificity.
Bonnitta EA Software
The software in Bonnitta EA is based on a ”Pending Position strategy (PPS) and a very advanced secretive trading algorithm”. The vendor said that the robot ”contains the algorithm of statistics collection and slippage control with complete statistics control”. He feels that his secret algorithm in conjunction with indicators and a slippage control mechanism will ensure that the robot protects you from broker’s tricks. This is all he told us about the strategy, which is not enough considering the exorbitant price of the Forex robot.
There is a signals account on MQL5 that is hosted on the FBS platform. This account was started in 2020 with an initial deposit of $1000.
So far the robot has managed to grow this account by 873%. It has completed a total trade number of 2002. The average win rate at the moment is 79%. The EA has a monthly growth of 8.7% with a maximum drawdown of 35.6%.
We saw another trading account on myfxbook.com. This account is outdated and was opened at the FXOpen brokerage.
The robot completed a total trade of 482 when it made a total gain of +1,536.38%. The monthly gain was 30.57% while the drawdown was 65.18%. This kind of drawdown is excessive and may be the reason the owner dumped this account.
How Bonnitta EA works
Bonnitta is an automated trading software that works based on a secret algorithm in combination with a couple of indicators.
Forex robots like Bonnitta EA are run based on automated mathematical algorithms, not taking into account things like market conditions that vary with political issues, weather, and other factors.
The inconsistency of the market is impossible to program into a robot, and therefore the results of Bonnitta EA are inconsistent as well.
Conclusion
Bonnitta EA is a popular trading robot sold on the MQl5 marketplace. We like what we see from Bonnitta EA in some areas, but in other areas, we need more transparency. The vendor needs to provide more details about what strategy the EA uses. Other than that, we really need to be aware of huge drawdowns like the one we saw on their myfxbook.com account.
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Bonnitta Expert Advisor
$5750
Pros
- Performance result
Cons
- Poor strategy insight
- High drawdown
- High pricing