BuySellSeries EA is a multi-currency robot that comes with different presets that traders can choose according to their risk level. It can work with any broker; however, the developer recommends using low spreads exchanges. Our article will discuss all the system’s important features and take into account the live performance for analysis.
Vendor information is available on the MQL 5 marketplace. Chukwudi Joshua Obiekwe is the author of the product who resides in Nigeria. He has a zero rating currently. The developer has two products published on the MQL 5 marketplace and has four subscribers for his services. He has experience of three years. The vendor doesn’t provide any further information about this programming experience which is a poor activity.
How BuySellSeries EA works
The robot comes with the following features for traders:
- Ability to adjust the risk by changing the preset
- It comes with 24/7 support and free updates
- It works with a minimum balance of $100
Timeframes, currency pairs and deposit
The robot works on EURJPY and GBPUSD. It can auto-adjust to any time frame. However, the developer recommends using it on a 1-hour chart. The minimum balance requirement is $100.
The seller states that the robot uses a strong trend analysis that is based on candlestick patterns. There is no further information, so we head over to the history on Myfxbook. From there, it is obvious that the expert uses a grid strategy. We can not confirm if it also employs a martingale approach as the lot size is hidden. The average trade duration is 10 hours and 2 minutes which refers to day trading.
Pricing and refund
The robot is available for $200 and $700. However, there are no differences in the features. They probably differ in terms of available licenses for live accounts, but the developer fails to mention that. This shows that the product is presented inadequately.
There are no backtesting results provided by the developer, which raises more concerns over the products working. Verified trading records on Myfxbook show performance from June 29, 2021, till the current date for BuySellSeries EA Gangs. The system made an average monthly gain of 55.65% during the period, with a drawdown of 29.75%. The stated drawdown is high, meaning that the robot nearly loses a quarter of its capital while trading. The winning rate stood at 73%, with a profit factor of 1.71. The best trade was $11.71, while the worst was -$9.27. There were a total of 749 trades. The developer made $152 in deposits and only $1in withdrawals.
People say that BuySellSeries EA is…
People say that BuySellSeries EA is a scam. There are no customer reviews present on Forex Peace Army or the MQL 5 community that can guide us on the viewpoint of other traders. Reviews are important to gauge the system’s performance. No feedback indicates that the users are probably afraid to try out a system that uses a grid and probably a martingale strategy. The developer is not transparent about the game plan and is selling an underperforming system that can cause a high risk.
|24/7 customer support||No money-back guarantee|
|There are no backtesting records available|
|There are no reviews available|
BuySellSeries EA Conclusion
BuySellSeries EA uses a risky strategy which the developer does not disclose adequately. Lack of transparency is a significant issue of the algorithms that are present in the financial markets. Most of them work for a short duration and then fail miserably. The same is the case with the BuySellSeries robot.