Prop Firm EA is a Forex robot designed for both personal use and for Funding Firm challenges. The vendor says Prop Firm EA is compatible with funding firms such as FTMO, MY FOREX FUNDS and others.
They want us to buy the EA now in order to pass a funding firm challenge.
The vendor of this Forex robot is called My EA Academy. My EA Academy is a new website under the company of SINRY ADVICE WORLDWIDE.
Sinry Advice website has a couple of other automated trading systems they promote like MG Pro EA, Swing VIP and Tj10X Indicator. I wonder why they decide to create a new offshoot for marketing their products.
Today we want to see what this new website can create, even after claiming to offer the most accurate Forex tool.
Prop Firm EA: Funding Firm Challenges
The sales pages of this EA does not necessarily contain enough details but what I’m
mostly interested in is the quality of the EA.
There is a section that tells us about funding firm challenges as well as the reward involved in it.
The wants us to believes that Prop Firm EA was able to meet the requirements of the funding firms while successfully passing the challenge. Allegedly, you will get a funded trading account up to $200,000.
Features of the EA which they’ve listed for us include:
- Works on both personal accounts and funding firms accounts
- News Filter – To avoid trading on big market event days
- Smart internal indicators to analyze the market before placing a trade
- Fully Automatic – 5 min installation and the rest is fully set up
- Works on 25 trading pairs
- Low drawdown below 5%
- 100% Non Martingale Strategy
- Spread control – To avoid trading in a volatile market
- Full Setup guide PDF
The low drawdown feature is of interest because the vendor claimed is one of the targets set by companies running these Funding firm challenges.
Because of these features, they believe that Prop Firm EA can maintain a very low drawdown of 4.20% and monthly profit range of 10% to 20%.
All we know is that the best Forex EA will definitely sell even without all the wording. Most top developers, like Flex EA, will pay more attention in providing software updates than marketing.
Prop Firm EA strategy
This software was specifically created to trade on 25 currency pairs with 4 presets available for installation.
It utilizes a top bottom reverse trading strategy in addition to grid, internal smart indicator signals and news filter as its trading strategy.
The developer says Prop Firm EA comes with a step by step user guide and video for quick installation.
They’re actually talking of installation but forgetting to explain why they believe that a combination of reverse trading strategy with grid, internal smart indicator signals and news filter strategy will actually win a funding firm challenge.
The strategy of this robot is therefore not very clear as we can’t find any reasons to believe there’s an edge here.
Trading Result Analysis
Surprisingly, the Prop Firm EA sales page does not feature a trading performance section. However, our further research landed us to myfxbook.com accounts belonging to this vendor.
The Prop Firm EA EA has an active myfxbook account with a gain of +30.72%. This is a real account hosted on the IC Market brokerage MT4 platform.
While monthly return is only 30.72%, drawdown is a whooping 57.59%. This is clearly unacceptable and a poor trading results.
Conclusion
Prop Firm EA presentation is a lackluster. I do not find any compelling reasons why I should subscribe or even recommend the Prop Firm EA to our readers.
Now we see reasons why the vendor does not bother to show a trading result. The drawdown is unacceptable and does not meet requirement as claimed.
This EA does not sound like something that will give you an edge in the funding firm challenge.
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Prop Firm Expert Advisor
$388-$588
Pros
- Installation guide
- Performance result
- Myfxbook result
- Multi-currency support
Cons
- Poor strategy insight
- High drawdown
- Poor presentation
- High cost