Business Star EA is a new Metatrader expert advisor written by unknown persons located at 12 Pike St, New York, NY 10002. In order to get in touch with support, traders can email email@example.com. Although, their email address seems incorrect though, as it says start instead of star, which is somewhat confusing.
They believe that their automated system is a good investment, and one that you can rely on for many years to come.
Business Star EA Review
With increasing metatrader robot competitions in the marketplace, vendors will say anything to attract their clients
. Business Star EA creators feel that it takes other robots months of trading, just to produce the same results their system can produce in much less time. They promise “real profits every month and a real honest working robot.”
The sales page is average at best. The design isn’t overly professional, and there are quite a few spelling mistakes made throughout.
During our review of the Business Star EA we certainly realized that they did not provide in dept details on the strategy the EA works with. In fact, the only information provided about the Business Star EA is a statement that “the adaptive trading logic it earns steady profits since years with very limited risk.” The sentence really doesn’t make sense, and it’s just a vague explanation that we’ve seen hundreds of times before.
It’s also worth noting that the system trades the EURCHF exclusively on the 1 hour time frame.
The vendor needs to significantly increase the information about their trading methodology.
- Type: Forex Robot
- Price: $199-$249
- Strategy: Undisclosed
- Timeframe: H1
- Pairs: EURCHF
Like most MT4 forex robot, there are alternative plans to purchase: In this case we have Basic and Standard plans. At $199 the basic plan comes with one real account, and one demo account license. At $249 the standard plan comes with three real accounts and three demo account licenses.
Both plans come with a 30 day money back guarantee, via Click2Sell, their payment processor.
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.
Forex Alpha EA 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).
No Major Pair
When you trade in the forex market, you buy or sell in currency pairs.
Business Star EA deals on one minor Forex pair; EURCHF
The majors are the most liquid and widely traded currency pairs in the world. They account to about 85% of Forex trading. The reason why traders trade the major pairs is because the large volume which leads to narrow spread.
At the SCAM EA, you will find hundreds of reviews of Forex robots, where we check to see if they are verified investment product, or simply a scam. The way investors properly compare a Forex EA result, is by checking to see if their results are published in a public statement sharing site, like myfxbook or FXBlue.
The vendor of Business Star EA provides 2 backtests, and a single FX Blue account.
We prefer Myfxbook when it comes to performance results, as we have found some strange, and unrealistic accounts with FX Blue over the years. We definitely recommend that this vendor moves the account to the more reliable statement sharing service provider.
That being said, this account is showing a total return of 469% over the course of 638 days. This comes out to a weekly return of 1.9%, a monthly return of 8.4% and 154 trades placed. Which means the robot places 1 trade approximately every 4-5 days.
The main concern we have with the trading account provided is with the drawdown. According to the risk analysis section, the worst day lost 90% of the equity and the deepest valley is 99.6%. Which means the account was essentially blown, but it’s not showing that in the account statement. This is why they need to move to Myfxbook, because this is not clear, and certainly scary.
Business Star EA Review Conclusion
The Business Star EA developers need to make a handful of changes before we are ready to provide a recommendation. These changes include moving their trading results to Myfxbook and providing much more information about their trading methodology. At this point, we have no real idea how the system operates, and why it trades the way it does. These aspects need to be made clear to the community. If you want to trade and actually make money, use trading tools that have been verified and confirmed to work.