Welcome to the Ghost Trader Expert Advisor review.
This EA was developed by a team hosting the official website at GTrader.eu.
They’re anonymous and even their support email at [email protected] does not provide any clue.
They tell the community that Ghost Trader EA is a revolution in the Forex trading industry since its algorithm has more than 10 years of strategy testing.
They want traders to know that Ghost Trader Expert Advisor can help anyone become a high income generating Forex trader.
In addition to this, the vendor insists that their EA is not spread dependent and can work with any broker in any market conditions.
The weirdest thing with this developer though is that they’re advising traders to use this Forex robot in an account with a leverage as high as 1:1000.
In case you didn’t know, high leverage simply means you’re risking more money to generate higher returns.
On the other hand, low leverage means you’re risking less to gain less. Generally, leverage of between 1:100 to 1:200 is considered the sweet spot.
Even though gtrader.eu insists their EA works best with leverage of 1:1000, this statement is still hard to believe.
So we’ll need proof to see whether the developer can justify his claims.
In this Ghost Trader expert advisor review, we’ll look at the strategy, trading performance and customer feedback to see whether it is indeed true that the EA can live up to expectations.
Ghost Trader Expert Advisor Review
The developer’s websites is one of those attractive sales pages which can be hard to resist if you’re looking for a good Forex robot.
The Ghost Trader EA trades 15 pairs and comes with lots of parameters which the developer says can make it user-friendly based on the needs of a trader.
Moreover, they want traders to know that the team is made up of the best minds that created a better algorithm that that of banks and large financial institutions.
This claim is hard to believe if there’s no evidence that the trading strategy is the best there can be.
Their 5-years of serving customers cannot be verified as well since date of registration is hidden in the who.is report.
The developer appears to be using high pressure sales tactics to push customers towards making a purchase.
They talk about compounding and claims that if traders can purchase the Ghost Trader EA now, they can start accumulating money.
At this point, we need to here verifiable facts as opposed to more sales pitch. So we’ll dive into the strategy right away and if it’s viable, we’ll see whether or not we’ll recommend the Ghost Trader Forex robot in this review.
Trading strategy of the Ghost Trader robot
The explanation provided by the Ghost.eu team is disappointing.
We’re learning that this EA is a martingale strategy expert advisor with some hedging.
It also contains news filter feature to help traders decide whether or not they want to trade the news.
This explains why we were worried when the vendor claimed this EA works best with leverage of 1:1000.
It cannot be true that an EA can work well with such high leverage.
Moreover, we are not aware of any reputable Forex brokers offering such a leverage. If they’re there, chances are that they’re not regulated.
Generally, Martingale-based systems are not excellent performance. They double risks every time there’s a loss and this can be detrimental to your account.
Unless this developer can prove that they’re right using a statement sharing platform like myfxbook.com, we can’t believe their strategy at all.
It’s one of the worst strategies you can use. So don’t be lied to that a strategy like this one or a combination of strategies involving Martingale trading can take you far.
Ghost Trader EA features and supposed benefits
The Forex robot trades 15 currency pairs and costs 499 euros a license.
1 live account license will also enable trading on multiple demo accounts. In addition to this, the developer will do unlimited updates.
In addition to this, Ghost Trader EA comes with 60 day money back guarantee.
It takes short term trades generally which means it is a scalper.
Now that we’ve seen the basic features of this software, we need to review the trading performance of the Ghost Trader Forex robot just to see whether it measures up to expectations.
Myfxbook trading performance
There are two myfxbook accounts for this Forex robot.
The first one is a real account labeled FX Ekspert Ghost Trader V1.
It has gained +53.17% in the last 2 months but draw down is 55.80%. This draw down is typical of all Forex robots that deploy martingale style of trading.
Monthly return is 26%. Monthly return is fair enough. However, traders must ask themselves for how long these returns will be sustained now that draw down is as high as 55%.
This draw down simply means Ghost Trader Expert Advisor wiped half of the account within 2 months of its trading on this account.
While it recovered, the prospect of losing your account to a martingale trading robot like the Ghost Trader EA is quite high.
In the second myfxbook account, we see a gain of +139.53% and a draw down of 40%. You can see that draw down is high as always.
This account started trading in April 2019 and stopped trading in October 22.
The reason for this is quite obvious.
We’ve seen lots of developers trading for a short time and moving over to another account once they’ve gained some profits for fear that they’ll lose what they’ve gained.
While the second account is a demo hence no prospects of losing real money, the developer fears losing his reputation and making it hard to pitch a sale.
In the meantime, he is hoping that traders won’t notice that the account is no longer actively being traded.
They know most novice traders and buyers have no idea what is going on and will only look at the profit figures and settle for the Expert advisor.
Ghost Trader expert advisor is not a recommended Forex robot at this time.
The reasons are quite obvious. Let’s not risk our money on a Forex robot that has such a huge draw down potential.
Also, we have not seen any real user reviews of this Forex robot. We don’t trust it at all.
If you have something to say regarding the Ghost Trader EA, please leave your comments below.