Red Horse EA is a Forex EA that is compatible with MT4. According to the vendor, this robot is able to understand the market sentiment with a high accuracy of 85%. They also claim that it is able to generate an average monthly profit of 12-23% while keeping the drawdown below 9.7%.
While this EA is supported by live trading statistics, there are no backtesting results. Also, the refund window is quite small, which means you won’t get much time to test the performance of the system.
Vendor transparency
This is a product from the Sinry Advice team, which is known for creating custom trading indicators and robots for MT4. The headquarters of this company is located in London, UK, but we don’t know when it was founded. On the official website, you can find the phone number and the email address.
How Red Horse EA works
Red Horse EA is not 100% automated. All the EA clients are connected to a single trading system that controls all robots. Although the system follows a default strategy, the traders decide the trading days, time, and drawdown. The EA can analyze fundamental and technical news and has a customizable news filter. It also has money management and risk management, but the vendor has not explained these features in detail.
Timeframe, currency pairs, deposit
This is an EA that is only compatible with the XAU/USD pair. You can use a Standard or an ECN account type for this robot. It is recommended that you use a minimum balance of $1000 and select the M5 timeframe on MT4. The leverage must be above 1:500 and you must enable Auto trading on MT4.
Trading approach
The EA analyzes market price with the help of a top-bottom strategy that is based on volatility and volume. When it receives a signal, it places buy and sell orders. The grid starts trading once the market moves beyond the price. Instead of relying on a time session, the EA has several scalping systems that conduct multiple types of trades.
Pricing and refund
You have two options when it comes to purchasing this EA. It has a monthly plan that costs $59, and a yearly plan that costs $495.60. The plans are not too cheap compared to the market average. There is a 14-day free trial, and if the EA is not profitable at that time, you can get a full refund.
Trading results
This live trading account on Myfxbook was launched on November 15, 2021, so the trading history is quite short. To date, the EA has placed 498 trades through this account, and currently, it has a high win rate of 74%. The total profit for this account currently stands at $285.45, while the daily and monthly gains are 0.20% and 6.31%, respectively. The peak drawdown was 19.85%.
For the last 20 trades, the EA has used a lot size of 0.01-0.02. We can see that the EA has been able to generate profits at a steady rate, but it also occasionally suffers consecutive losses. The average trade length is 4 hours and 30 minutes, and the average win and loss are 186.74 pips/$2.83 and -429.52 pips/-$5.83, respectively. Unfortunately, the vendor has not shared the backtesting results for this expert advisor. So, it’s impossible to see and compare its past performance with the present one.
People say that Red Horse EA is…
At this moment, there are no user reviews for this EA on websites like Trustpilot, Forex Peace Army, Quora, and Myfxbook. As such, we don’t know anything about the experience of real customers with this robot.
Verdict
| Pros | Cons |
| Verified trading results | Small refund window |
| Short trading history | |
| No backtesting results |
Red Horse EA Conclusion
Red Horse EA is an expert advisor that has not been trading live for too long. The vendor has not shared the historical test results, so we are not sure whether it can deal with different market conditions. The pricing plans are not very cheap and you have only 14 days to test the performance of the system, which is not enough.
