Is EA Monsta Gold reliable for your trading account? Should you buy this system for a better trading experience? Read this review to find out if this forex robot is worth your money or not.
Table of Contents
About EA Monsta Gold
EA Monsta Gold is a forex robot available on MQL5 website. The developer of the EA is Thi Tra Mi Duong from Vietnam.
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According to the vendor, the system can be purchased at the rate of $299 and a rental option of $259 per year.
EA Monsta Gold claims to give advantage in the financial market with its expert strategy. Here, the system uses stop loss to protect capital and position trailing stop
EA Monsta Gold : Reasons to Avoid this Expert Advisor
Firstly, EA Monsta Gold is a forex robot that fails to pay attention to details. The sale pitch of this Expert Advisor shows some transparency issues with the product.
Secondly, the system has no cash back for the product. There is no guarantee that your money will be refunded if the product does not work as it is claimed to be.
More so, the customers’ feedback is pretty worrisome. There are few customer reviews on MQL5 where the product is sold of which they all sound too good to be true.
Further, the vendor fails to provide trading result on the Expert Advisor to show us how the forex robot performed on a real account or free account.
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Accounts
Free Trial
Projects
SSL
2
Strategy: Scalping
Time Frame: M1, M5, M15 and M30
Currency Pairs: All Pairs
License fee: $147
30 Day Money-back Guarantee
1
Strategy: Stop and Reverse
Time Frame: All time frames
Currency Pairs: EUR/USD, EUR/GBP and USD/CHF
License fee: $149
60 Day Money-back Guarantee
3
Strategy: Scalping
Time Frame: M1, M5, M15
Currency Pairs: All Pairs
License fee: $147
30 Day Money-back Guarantee
EA Monsta Gold Trading Strategy
EA Monsta Gold operates on a price action strategy and “instantaneous price momentum and multi-timeframe analysis”.
Also, the system operates on only GOLD and XAU/USD, and on a 24/7 time frame.
In addition, the provider recommends ECN account with low spread.
EA Monsta Gold Trading Results
The vendor presents us with a back test report from 2021 which shows a deposit of $1,000. According to the result presented, the EA made a total net profit of $15,982, profit factor of 4.83 and drawdown of 1.87.
Besides the back test result, EA Monsta Gold refuses to have a verified result by FXBlue or Myfxbook. There is a need for a third party verification so as to know various parameters such average gain and loss, drawdown, leverage etc., of the Expert Advisor.
Conclusion: Is EA Monsta Gold a Reliable Forex Robot?
EA Monsta Gold does not seem like a reliable forex robot for traders even though it promises offers that look good to be true.
More so, not guaranteeing forex traders a refund for their money if the system does not prove trustworthy as it claims is a con.
Because this EA does not consider it necessary to provide information, we do not recommend this forex robot for trading.
Kindly share your comment about this broker in the comment section.