EA Sapphire is a Forex expert advisor that was first released in September 2018 and has been updated multiple times to V2.50. The last update was on April 2nd, 2019. EA Sapphire was developed by Fanur Galmov with an address located in Ukraine. He attends to direct messages on his personal MQL5 profile though his support is not effective as a more commercial expert advisor.
The product comes with advantages, recommendations, and an area where they provide a brief introduction to each parameter.
EA Sapphire Review
You may have seen MQL5 forex robots that are backed up with high ratings but they are all manipulations to sell high.
The EA Sapphire robot is a highly rated program on MQL5, but this doesn’t always mean that it’s an effective system. EA Sapphire is a new Forex robot promising to give traders access to an advanced selection algorithm perfect at picking out accurate entry points.
During our review of EA Sapphire, we saw that there are some discrepancies in the details of the trading strategy. In the advantages section of the sales pitch is a quote that says the robot “does not use indicators, grid, martingale, arbitration.” Yet, in the parameters section are 6 different settings that are all connected to grid trading. These are GridMultiLot, GridTakeProfit, GridFirstOrdersStep, GridNextOrdersStep and GridMaxDD. It’s hard to believe that this strategy doesn’t have any grid elements when you can see them within the parameters. This is likely something that needs to be resolved.
Grid trading can be very risky, so most vendors want to disassociate themselves from this strategy, but this isn’t the correct way in doing so.
EA Sapphire Breakdown
- Type: Forex Robot
- Price: $199+
- Strategy: Multiple including grid
- Timeframe: H1
- Pairs: EURUSD, GBPUSD
The EA Sapphire subscription is quite unusual. The EA Sapphire pricing model is different from most robots in that the price rises based on how many orders are placed by the community. Right now, the software has 6 copies left at $199, which will raise to $249 and inevitably become even higher than that after those 15 copies are sold. This is a marketing strategy to create more interest, but it doesn’t interest us that much.
When you want to buy an expert advisor but you are considering which one has the best time frame for you, there are three time frames you should bear in mind; Long term, Short term, and Intraday.
EA Sapphire’s time frame is at H1, which means the robot completes a trade in 1 hour.
Such hourly trades have advantages which include lots of trading opportunities, less chance of losing months, and no overnight risk. But you should consider that the transaction costs will be much higher (more spreads to pay).
2 Major Pairs
When you trade in the forex market, you buy or sell in currency pairs.
EA Sapphire robot deals with 2 major Forex pairs; EURUSD, and GBPUSD. No Minor Pairs.
The majors are the most liquid and widely traded currency pairs in the world. They account for about 85% of Forex trading.
At the SCAM EA, you will find hundreds of reviews of Forex robots, where we check to see if they are verified investment products or simply a scam. The way investors properly compare a Forex EA result is by checking to see if their results are published on a public statement-sharing site, like myfxbook.com or FXBlue.
The EA Sapphire provided their result on MQL5. There are no Myfxbook accounts, which is disappointing because Myfxbook provides the most transparency when it comes to verified trading results.
The trading account provided, shows a 92% gain on an ICMarkets demo, with 82.4% profit trades and 17.6% loss trades. Over 47 weeks, with 324 trades the maximum drawdown is 38%.
The demo account has taken a $200 deposit and turned it into a $184 profit. We would like to see the software trade on a real account, so we can see how it performs in those conditions. We generally like to see a trading account prove that it’s at least worth the money spent for it.
EA Sapphire Review Conclusion
While it may come across as a bit complicated, the EA Sapphire is an interesting trading product. There are aspects we approve of, and others that are not exactly in line with their own projections. It’s clear to us that this is a grid trader, so there is some risk, so be careful with how you decide to proceed. We would also like to see some verified Myfxbook accounts before we add them to our accounts. Otherwise, these trading tools are better and more efficient than what we have seen anywhere else in a long time.