Premium FX Bot Review: EA for MT4
Today we’ll go over the new Premium FX Bot because the vendor believes this product is the best EA for MetaTrader 4 and is also the new generation of trading.
Vendors of trading products love to make these claims from time to time thinking that they will increase their sales volume. But only vendors with a demonstrated track record are loved by traders and investors.
This vendor wants us to know that they’re the leading software development company that specializes in professional and high-quality programming.
They want us to buy a copy of the Premium FX Bot because they have a good customer service and our portfolio will not suffer unexpected interruptions, thanks to frequent updates.
The service is just 2 months old, and our intentions is to write an in-depth Premium FX Bot review and let you make your own considerations.
Premium FX Bot Review (MT4 EA)
The first thing is that we didn’t like presentation as a whole.
Not only is the website lackluster in terms of design, but the vendor of Premium FX Bot is anonymous.
We couldn’t establish their name, location or even trading/development experience.
These basic details are to be expected from any vendor’s website and if a sales page lacks introduction, it could say a lot about their product even before we make a purchase and discover the flaws.
The website consists of a short summary of the product’s features, contact details (firstname.lastname@example.org) and irrelevant information that focus on general backtesting and expert advisors talk.
Premium FX Bot comes with 3 license types. There are basic, standard and pro packages respectively.
The basic package comes with 1 license for demo and 1 license for a live account.
The Standard package has 2 licenses for both demo and live account.
Lastly, the Pro package has 3 licenses for both demo and live accounts.
The cost of these license packages range from $109 to $149 depending on which license you want.
Trading Strategy of Premium FX Bot
We hinted to you earlier that the developer of this product did a poor job in their presentation.
They screwed it further by missing out on the strategy part. Instead of providing useful information pertaining to this MT4 EA, they provide odd statements of how traders can practice their skills, and how they can manage their portfolio.
In short, the developer of Premium FX Bot comes across as someone who does not know how to communicate properly to their audience.
They provide zero substantial information pertaining to their product except that it is an automated software designed to work in an MT4 platform.
They also keep repeating that they will not charge extra fees because these licenses cater for future updates.
Therefore, we don’t have a strategy to discuss here. We hope this is something that the vendor will consider adding if he reads this review.
At least they’ve provided their trading statement on FXblue platform.
At least we can talk about results now but due to the convoluted nature of FXblue, we generally prefer products whose trading statements are documented at myfxbook instead.
At the time of writing this review, Premium FX Bot was showing weekly gains of +18.2% from a trading sample of 20 days only.
This means that it has only taken a few trades. With that in mind, we can’t rely on this sample of stats because it is too shot.
Also, the vendor has decided to hide their drawdown information.
Lack of transparency is their greatest undoing and we hope they can rectify this if they even want to sell a copy of this Forex robot.
Reviews of Premium FX Bot MT4 EA
Of course there are no customer feedback just yet because this is a new product.
We haven’t seen anybody using this EA and we believe due to the lackluster presentation of this developer, we will not see any reviews soon.
The vendor is not transparent with their product.
Their website is lacking basic information such as strategy of their Forex robot, development background and many other aspects.
I do not see any valid reason why anyone would recommend the Premium FX Bot EA at the moment.