POW Banker EA is a forex trading robot that claims to be designed for prop traders. Developed specifically for the MetaTrader 5 (MT5) platform, this Forex expert advisor promises to deliver impressive results for traders looking to succeed in Forex trading. Unfortunately, there are several issues that make it difficult to recommend.
PS: Despite offering a variety of support systems, the POW Banker EA remains a highly questionable forex trading robot. Meanwhile, the best Forex EA applies a reliable investment approach. You enjoy reasonable profits via a suitable trading technique. Also, trading the various financial markets is not a walk in the park. You require patience and experience to attain reasonable profits.
POW Banker EA Review
POW Banker EA is a highly questionable forex trading robot. The lack of trading strategy insight, verified trading results, and back-testing results make it difficult to evaluate the efficacy of the EA.
Here are some of the features of the trading system:
- POW Banker EA is a fully automated trading system compatible with the MT5 platform
- It’s designed to work on both personal and prop trading accounts
- They offer a refund to anyone who doesn’t pass a funded account challenge provided the user follows strict rules set out by the developer
- To run the EA, you’ll need access to a Computer and a VPS
- You cannot run the robot on mobile phones
- There is no free trial available
- Clients will get future upgrades with any extra cash.
- There are Hedging and Martingale setups.
POW Banker EA Strategy
POW Banker EA employs a martingale trading strategy, which can be risky if not managed properly. It does come with pre-optimized settings, but users have the option to customize their own settings to suit their trading preferences. However, it’s important to note that the use of hedging is not allowed by some prop funds.
While the developer claims to use a martingale money management strategy, they provide no real insight into how the algorithm functions or what indicators it uses to identify trades. This makes it challenging to evaluate the efficacy of the strategy, which is a major concern for traders looking for reliable trading systems. There is no explanation to show a profitable trading strategy.
EA Breakdown
- Type: Forex Robot
- Strategy: Martingale, Hedging, RSI
- Recommended Pair: N/A
- Timeframe: N/A
- Minimum pricing: £399/month
POW Banker EA offers a 6-month plan for £399, a yearly plan for £599, and a lifetime plan for £999. While the pricing may seem reasonable to some traders, it is relatively high compared to other forex trading robots in the market.
The packages do come with some features, including the ability to run up to 5 accounts at the same time, access to a members-only Discord server with supporting video content, weekly Q&As, and round-the-clock support. Additionally, users can change their account numbers whenever needed, and there is a new Affirmation and Hypnosis program called POW Elev8 included in the package.
However, it’s important to note that these benefits are not unique to the POW Banker EA, and the best Forex EA in the market offers similar features for lower prices.
Trading Results
Scammers know that unsophisticated investors will always ask for some kind of proof that a trading system works. But these investors will never do their own due diligence to validate the kind of proof that they are being presented with. Once they are presented with scripted reviews and screenshots of members that made supposed profits, the investor will go ahead and give it a try with real money.
In the case of the POW Banker system, the red flags are so obvious. You cannot miss them.
POW Banker EA lacks both live trading results and back-testing results. The developer provides no verified accounts or back-tests to support the claims of profitability, which is highly problematic. Without this information, it’s impossible to evaluate the EA’s effectiveness, leaving traders to rely on unsubstantiated claims.
Conclusion
Despite offering a variety of support systems, POW Banker EA remains a highly questionable forex trading robot. The lack of strategy insight, verified trading results, and back-testing results make it difficult to evaluate the efficacy of the EA. The presence of unverified reviews and testimonials, combined with the steep pricing options, makes it difficult to recommend this product to any trader.
POW Banker Expert Advisor
£399
Pros
- Prop firm compliant
- Good support system
Cons
- Poor strategy insight
- No trial version
- No verified result
- Very strict refund policy
- Martingale
- High pricing