Maxturbo EA is a new robo advisor that was launched on the 24th of August, 2019. The vendor provides no information about their location, identity or trading history in the Forex markets. In order to get in touch with support, traders can fill out a contact form on the website. This form is rather not helpful as it asks for the client’s name, email and phone address, but does not include anywhere to type a message.
The system is being sold for $299 via the Click2Sell marketplace.
Maxturbo EA Review
Overtime, we have seen that grammatical errors are hard to be ignored when you are comparing expert advisors or any financial service platform. In fact, the first word on the website, welcome, is spelled incorrectly which may seem like something small, but every little detail matters when it comes to investment opportunities. The website comes across as a project that is only a quarter finished, but was rushed to market in a very short period of time.
During our review of the Maxturbo EA, we saw that the provided little to no information about their true trading methodology. They promise to have the chance to meet your and a “unique Algo Trading System” but fail to provide any detail or proof of the “proven strategy has been used by experienced traders for more than 7 years.”
Another line of the strategy section claims that the system was created by a “legendary Forex trader” but they don’t provide any information about who that trader is.
The entire sales presentation is a bunch of open ended questions without any real answers. If the vendor wants to be taken seriously, they need to provide much more in terms of hard facts.
- Type: Forex Robot
- Price: $299-$450
- Strategy: Undisclosed
- Timeframe: M15
- Pairs: EURGBP
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.
Maxturbo EA time frame is at H15, which means the robot completes a trade in 15 hour.
Such short trades have advantages which include lots of trading opportunities for the EA, 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).
As an advantage, the EA includes a major forex pair; EURUSD. When you trade in the forex market, you buy or sell in currency pairs.
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.
There are two plans available for subscriptions: The standard and the premium plans.
The standard package provides one real account, one demo account and lifetime access for $299. The preview account provides 3 real accounts, one demo account and lifetime access for $450. It’s strange that the vendor is only providing a single demo account for both of these packages.
Generally, we prefer vendors who provide unlimited demo accounts so that we can test the robot thoroughly before putting it on our live accounts.
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 MaxTurbo EA team provide us with two verified Myfxbook accounts for analysis.
The main account, is a real account with the PaxForex brokerage, showing a gain of 41% over the course of around a month and a half. The drawdown is 9.22%, the average trade length is just over 5 hours, and the program is winning at a rate of approximately 72.5%. During this time the robot has traded 360 times, with the average win coming in at 7 pips, and the average loss coming in at just over 5 pips. This is an effective win reward ratio, and the majority of the statistics are quite impressive.
Is obviously too early for us to make any real judgments, but this is definitely a trading account worth watching over the next few months to see how it continues to perform in different market conditions.
Our best advise for you
The majority of the MaxTurbo EA presentation is lackluster. They provide almost no transparency when it comes to their trading strategy, their identity and what type of history they have in the Forex marketplace. The website is poorly put together with major spelling mistakes and missing most of the important details. That being said, their trading account is showing some positive results, so we will have to watch it closely. For now, If you want to trade and actually make money, use trading tools that have been verified and confirmed to work.