Is NorthEastWay EA 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.
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About NorthEastWay EA
NorthEastWay EA is a forex robot available on vendor’s website. The developer of the system is Pavel Udovichenko from Russia. It is an automatic trading robot that opens and closes orders.
According to the vendor, the product can be purchased at the rate of $8346. He further mentions that there are 5 copies at the rate $5999.
NorthEastWay EA claims to give advantage in the financial market with its expert strategy. Here, “the system uses the main patterns of the Forex market in trading – the return of the price after a sharp movement in any direction”.
NorthEastWay EA: Reasons to Avoid this Expert Advisor
Firstly, NorthEastWay EA 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 many customer reviews on MQL5 where the product is sold of which we see negative replies on the system not trustworthy.
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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
NorthEastWay EA Trading Strategy
NorthEastWay EA uses price action and counter trend strategies.
Also, the system operates on EURGBP, EURUSD, GBPUSD, USDCAD, GBPCAD, and EURCAD currency pairs. As for timeframe, M15.
Added, the vendor demands new users send him a message to get “set files and additional detailed instructions”.
NorthEastWay EA Trading Results
Here is the trading results of NorthEastWay EA, the system executed 4395 trades on an initial deposit of $100 that brought $1,009,786 of the total net profit. The profit factor was 3.02 when the recovery factor was 4.67. There was a maximum drawdown of 14.23%.
Conclusion: Is NorthEastWay EA a Reliable Forex Robot?
NorthEastWay EA does not seem like a reliable forex robot for traders even though it promises offers that look good to be true. The price of the system is massively higher than any other EAs that are sold in the forex market.
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.
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