EA Forex Academy Review: Scam EAs and Trading Strategies? - Topedgefx.com

EA Forex Academy Review: Scam EAs and Trading Strategies?

Welcome to the EA Forex Academy review. EA Forex Academy is a trading school owned and operate by Petko Aleksandrov and others.

Mr. Petko Aleksandrov claims that he has been trading professionally for the last 10 years. He feels that using multiple trading strategies in one MT4 account is the best way to test and identify the best performing strategies while diversifying risks.

EA Forex Academy is currently touting dozens of automated trading strategy courses and EAs designed for beginners and advanced traders alike.

The owner of this trading school also reminds traders that EAs can work great for some time and then stop working at a certain point.

While this is true, most developers solve this issue by releasing regular updates to subscribers free of charge. We feel that as long as you have a good expert advisor (such as the ones we recommend here), you should never have to worry because developers will be updating regularly to conform with market dynamics.

Also, Mr. Petko Aleksandrov of EA Forex Academy believes that one can automate trading strategies even if they don’t have prior experience in software development.

He feels that greed and fear is why 95% of traders zero their accounts and worse still, 80% give up in the first month.

EA Forex Academy review

He also claims that EA Forex Academy courses are better than the rest because they teach how to actually trade than just concentrating on automated trading.

We don’t know how true this statement is because we’ve seen a few trading schools going an extra mile to teach how trading is done.

What is more, their developers have a real track record of successful trading with expert advisors. Good examples of the trading products we are talking about can be found here. 

Eaforexacademy.com appears to be based in the UK and according to marketing materials, the trading school is educating over 15,000 students in Forex and Cryptocurrency trading.

They also claim that EA Forex Academy courses are based on the best software in the market which aid them to create trading strategies and EAs.

Today we’ve decided to do a review of their platform and service to let you know whether it’s worth attending or not.

EA Forex Academy review

We must admit that EA Forex Academy’s website has a professional design and robust content.

But at some point, we feel lost while navigating the website because there is just too much information to consume even before students can get to the real trading courses which they’re allegedly offering.

There are multiple kinds of trading courses for Forex and Cryptocurrencies in addition to EAs and strategies they claim to teach.

Students don’t even need prior IT or coding skills to code and test their strategies on EA Studio (strategy tester).

The homepage lets traders know that they can learn how to trade like a pro.

The sales page alleges that there are currently 19,000 students enrolled in 160+ countries. In addition to this, there are 661 online lectures and 32 online courses.

We agree with the numbers regarding online lectures and trading courses because clearly EA Forex Academy looks like the Walmart of trading courses and automated strategies.

However, proclamations regarding their enrolled students in the number of countries mentioned is just debatable.

We’re a bit skeptic here because over the course of writing and publishing reviews on this blog, we’ve realized that 90% of internet marketers are using words and statements that make traders think they’re the best even when they’re not.

The main selling point of EA Forex Academy is that they teach traders how to create their own EAs even with zero experience.

Their trading courses are divided into 3 categories: These include:

  • Manual Trading
  • Algorithmic Trading
  • Cryptocurrency Trading

Under manual trading, EA Forex Academy offers 4 items. These include one fee trading course and 3 paid ones, each costing £69.

Under Algorithmic Trading, there are dozens of trading courses for EA development. It’s impossible to list all of them here. However, the cost of these trading courses range between £69 to £239. There are free courses as well.

With EA Forex Academy’s Cryptocurrency course, the trading school offers price action trading course for Bitcoin, Ethereum trading bot “never losing formula”, Cryptocurrency course plus 12 expert advisors, Ethereum trading course and many more.

Summary of what EA Forex Academy claims to offer

They offer trading courses together with 99 Expert advisors for trading. Every month there will be an update and new expert advisors will be added too.

We wonder how effective these EAs are. The more the number of EAs for trading, the more difficult it becomes to optimize all of them for the specific market conditions.

The trading school claims to use a platform called EA Studio to test thousands of strategies in minutes. It is hard to believe that this vendor can optimize all of the robots in time and make them effective for trading.

We’ve observed that developers who keep creating multiple robots every year tend to come up with poor performing EAs because with numbers comes responsibilities and tasks to optimize all of them.

Creating a good trading strategy needs time. If you’re going to rely on multiple trading strategies, then using AI trading technology to sync all of the trading strategies and to keep them up to date is the solution.

EA Forex Academy does not mention how they keep up to date with their dozens of trading robots and strategies.

They definitely don’t use AI technology because nowhere did they mention this.

Who is Mr. Petko Aleksandrov?

We’re interested in the professional background of Petko Aleksandrov who is currently the CEO of EA Forex Academy.

LinkedIn is a good place to start the search. We’re able to locate his profile here and according to this profile, we see that he has worked for 3 other companies apart from the ones he own.

He has worked for a London-based company called Avus Capital Ltd. Avus Capital Ltd runs a Forex brokerage business on the domain trading212.com.

What did Mr. Petko Aleksandrov of EA Forex Academy used to do? He used to write analysis for currencies, stocks and commodities. Does this qualify one for a professional trader? We doubt if this is so.

We do not mean to offend anybody here. However, we’re simply stating the fact that there are many article and news writers in popular financial media outlets but none of them can trade and achieve consistent results, although they can write outstanding content on financial analysis.

We don’t believe that being a market analyst who puts it in writing is equal to being a consistently profitable trader.

There needs to be a real track record of trading which is separate from that of working at a Forex broker’s website.

Basically, Mr. Petko Aleksandrov is a trading educator who has not disclosed his track record of trading success. The quality of his training and coaching may be good. However, if he cannot use what he teaches to trade by himself, then this begs the question of whether Petko Aleksandrov is truly a professional trader aside from a trading educator.

Conclusion

The website is ok because it is professionally designed and they seem to offer quality training materials that can at least get a beginner going forward.

However, the separate costs of purchasing individual courses can quickly rack up and destroy your budget. The website is set up in such a way that one will be tempted to purchase one trading education after the other.

This is deliberate because most trading educators earn by selling courses, not trading.

The more they can offer a “magic solution” to every kind of problem faced by traders, the more money they can make.

So, Mr. Petko Aleksandrov, are you a professional trader? Can you show us your redacted broker trading statement even for one month? Do you have a myfxbook.com profile that we can at least look at?

Once he reads this EA Forex Academy review, he will provide answers to the above questions.

Thanks for reading the EA Forex Academy review. We look forward to your comments and opinions.

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