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EA World FX is the maker of Crushtip, Swatmi, Intdai, Coved, Flushpips and Skytrend expert advisors.
All of these EAs are designed to trade EURUSD pair only.
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The vendor is operating from the domain eaworldfx.com, which is a website that was registered in January 2020.
EA World FX also claims that they’ve backtested their Forex robots for 3 years and have also used them on the live markets for 1 year.
This does not sound like the truth because myfxbook records of EA World FX suggests that Crushtip EA started live trading in February 2020 while the rest of the EAs were put to use in March 2020.
This is a short data sample and does not constitute one year of trading in the live Forex market.
The vendor is boasting of world class trading technology with artificial intelligence.
They claim that their EAs generate up to 10% monthly, and users can enjoy passive returns from the Forex market.
Is EA World FX legit?
We don’t think this vendor’s products are any better.
If you need a good EA for trading, find one in this list of recommended trading products.
The cost of a “lifetime” license for the EA World FX products is $250. Thereafter, traders must sign up with the vendor’s brokers where they’ll keep deducting 30% from profits each month.
We do not think this is a fair deal and secondly, they’re not saying whether this fee is based on high watermark model.
Depending on the EA that you select, you’ll find hedging protection, trading using breakout strategy and institutional levels as well as trend following.
They claim that money management feature is in-build to limit drawdown.
We’ve looked at trading results for CrushTip EA and just like the name suggests, the EA has plunged the account into the red zone.
The account has suffered a loss of -$63170.23.
We’ve also looked at EAWorldFX and other myfxbook accounts representing their various EAs.
We find that overall gain and absolute gains are far apart, which suggests the vendor is crediting these accounts from time to time rather than “earning” profits from the market.
Those accounts have a lot of money which means the vendor had a big budget for testing their EAs which apparently turned out to be what we didn’t expect.
Conclusion
We see that EA World FX has a raw deal. If you’re a serious Forex trader, there’s no point wasting your money trading with any of their EAs.
There’s no proof that the artificial intelligence is helping. It’s all about marketing the products.
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