We’re looking at a Forex robot that was launched in 2017 and named Pro VSA EA.
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This Pro VSA EA review will let you know whether the developer (only known as Konstantin) did a perfect job and if they can be trusted.
Also, this is a different product from the one sold at profxea.com. The one we’re talking about is sold at proforexea.com. It’s important to take note of this.
And according to their marketing materials, Pro VSA EA is owned by a company called Pro Forex EA.
The developer claims that their Forex robot’s strategy follows market makers and uses Volume Spread Analysis.
This approach relies on price and volume to analyze and trade the currency market.
According to the developer, the concept of VSA is fast gaining popularity because previously, it was only utilized by market makers.
Konstantin also claims that he has been trading Forex since 2007 and has achieved financial freedom.
He wants traders to know that if they join project Pro Forex EA, they can as well gain financial independence.
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These are very bold claims and for that matter, our Pro VSA EA review will cover every aspect of this Forex robot and service to let you know about its viability (if any).
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Pro VSA EA review
Pro Forex EA and the developer “Konstantin” are not telling us where they’re from.
However, it appears that Pro VSA EA is being sold from Russia or somewhere in Europe.
According to the sales page, this FX robot was developed by a team of professional developers bringing the “latest development in automation”.
They state that their team has specialized in developing high precision algorithms for MT4 and MT5 trading platforms respectively.
Pro Forex EA also reiterates that they don’t provide brokerage or investment services whatsoever.
Further into their website’s promotion materials, we see claims that Pro VSA EA is as a result of 3,100 hours of development and testing and that the robot has profited in 247 days in a year.
Pro Forex EA allegedly has 700 happy customers. If this is the case, we should find a number of reviews and feedback from traders who are either using this robot or have used it before.
Pro Forex EA also claims that the algorithm used to create Pro VSA EA is unique, has a high degree of protection and can never be found elsewhere in the market.
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They want traders to know that Pro VSA EA has the potential to make 250% returns in a year.
With all of these claims, the interest of finding out how it works and the trading strategy behind it is growing.
Pro VSA EA review: trading strategy
While the developer of Pro VSA EA does a good job by disclosing their trading approach, the explanation is characterized by poor English, and statements can be long and cumbersome to read.
What we understand by their trading methodology is that when trading, it goes through 4 stages:
- Mark down
According to Pro VSA EA’s developer, the accumulation phase is marked by two price levels where market makers buy low and sell high.
These two zones are marked by the robot and trades can be opened inside or within the two price levels.
The next step that follows is where the Pro VSA EA creates “markup and distribution” where market makers often make their deals.
Pro Forex EA claims that this stage is difficult because data is not publicly available but they can use their algorithm which is specifically designed for the robot’s trading strategy.
This does not tell us how the robot solves the challenge of not being able to obtain data.
Anyway, Pro Forex EA proceeds with their explanation by letting the community know that Pro VSA EA is able to estimate mark down.
According to the developer, this stage is where market makers expose of accumulation and they crash down prices in a dramatic move.
This action leads to supply overwhelming demand, consequently spreads widening and price falling due to investor panic.
In the end, most retail traders never get a chance to catch profit in this trading environment but due to Pro VSA EA’s ability to enter early, users can squeeze some profits from this market maker action.
Now, this is by far the most in-depth explanation we’ve found in a sales page.
Pro VSA EA’s developer has at least provided insights that most of their competition like (Daatty Forex EA) Signal Pro 007, EA Tree don’t bother to provide.
In addition to this, they tell us that their robot controls risks by hiding stops from brokers and has settings for lot sizing.
They also believe that holding positions for long exposes trades to greater risks and so they close positions as quickly as they can.
A demo is provided for download
Pro Forex EA provides a demo version of the software to use for an unlimited length of time.
This is a good gesture because most developers simply don’t want to allow us test their robot before purchase.
I have nothing against developers who don’t provide a free demo as long as they have a track record of producing good robots.
The downside is that testing a Forex robot can take a long time and you’re likely to waste your time jumping from one free demo to the next.
That is why myfxbook results come handy.
Trading results for Pro VSA EA
There are a couple of screenshots (with links) pointing back to the vendor’s myfxbook account.
However, we’ve also noticed that the developer is using an animated myfxbook image on their website claiming to have generated 63.4% returns in 2019.
Of course we can’t verify these results, so we’ll take a look at their other myfxbook accounts or links.
So far, we see that they aren’t track-record verified. This means that the developer is using a demo Forex account rather than a live one.
There are several myfxbook accounts associated with Pro VSA EA robot.
However, we also noticed a strange trend in these accounts.
One of the myfxbook accounts shows a gain of +210.39% while average monthly returns is 80.21%. Drawdown is 15%. However, the account is no longer being traded.
The second myfxbook account shows a gain of +439.68% while absolute gain is 210%. This absolutely shows that the vendor manipulated results by crediting the account after a huge drawdown.
You can confirm this by viewing the screenshots below which shows that drawdown is 46%.
Also, why is daily return is just 0.45% while monthly returns is 80%, it just proves how shady this developer can get.
In addition to this, Pro Forex EA (the developer) is no longer trading any of these accounts.
Since a demo has been provided for free (of course they insist you have to buy a VPS from them which will cost you money), we believe there’s a good chance you’ll waste time and probably money.
FPA forum has mixed opinions regarding the viability of this Forex robot.
While some traders think Konstantin Boykachev (apparently this is his full name) is providing a good trading robot, majority have rubbished his efforts and are expressing their anger regarding how the robot trades.
The FPA admins have also noted that reviews tend to come from same IP which has caused a lot of integrity concerns.
Konstantin Boykachev appears to be taking critics so personal. While this is the case, we also love the fact that at least he is responding to customer’s concerns.
A lot has been said regarding Pro VSA EA and how the developer’s myfxbook results are not convincing, we feel that traders with enough time to “invest” can download a demo of his software.
For us, we don’t recommend it just yet because the developer is not able to show that his strategy really works.
He just wants you to use a demo to test it for yourself yet some developers are providing ready solutions since they put their money where their mouths are and all you have to do is purchase the license and start making money right away.
Thanks for reading our Pro VSA EA review. We expect your feedback regarding our review.
2 Responses to “PRO VSA EA Review: Pro Forex EA Best Robot or Scam?”
I just came across this expert about a months and a half ago.
Downloaded the version from the site and set it up on demo at Tickmill.
First bad sign was that the expert wouldn’t backtest. Why would someone disable backtesting on an expert that doesn’t need multiple pairs for its work?
I asked author the question, but Konstantin went all vague, referring to some “defence mechanisms” and “dll dependencies” that make backtesting impossible. Sounded really weird as there are many experts out there, well protected and with dll dependencies, backtesting just fine…
After a couple of weeks of trading I did the analysis and the strategy didn’t seem very solid: multiple tiny profits and a few chunkier losses, although trending up, smelled of a Demo Grail kind of strategy: an EA that leverages the lack of slippage and delays due to execution with liquidity provider.
I chatted with the author again, sharing my concerns and asking him if there’s an option to test it in live, with min lot. He refused to accommodate the request, so I sourced the “fixed” version from one of the forums, the one that worked on real just like it was on demo.
I set it up on my live with min lot of 0.01 solely to verify the performance.
For another two weeks the expert was working on my live account and, as expected, it was making losses, where his demo brother was making profits – entering at the same point, but with minimal slippage involved, it couldn’t close in the same tiny profit and was falling back to stop loss.
It is worth mentioning that I have a VIP account with Tickmill, my commissions are minimal and trading conditions are rather perfect. All MT4 instances are running on the beefy VPS with a latency less than 1ms.
Last Friday I was going through my VPS setup, cleaning and grooming, when I noticed the number of open deals in my trading view starts growing quickly.
I couldn’t believe what I was seeing at first: every second there was a new order, each one 10 times bigger lot than the previous one.
It took me few seconds to react and by then I had 6 deals open: 0.01, 0.1, 1, 10, 100 and another 100 lots.
Those orders didn’t have any comment or magic number associated with them as if someone opened them manually.
I immediately shut down all terminal instances that were autotrading, switched to the local instance and close all open order – as you can imagine, with substantial loss.
Further investigation showed those deals appeared in the logs on the MT instance that was running PRO VSA.
Interestingly enough, it didn’t log anything in the expert log, just the common one.
It was rather obviously a sabotage by the author that somehow had discovered I was using it on real account.
Funny enough, the author pinged me in Telegram next morning, calling me names and claiming I “paid for being greedy”.
I asked him, where did those deals come from and he first was all about “the person who hacked the EA did a mistake, messing it all up”.
Which can’t be the case by any stretch of imagination: for an advisor to start booking these deals without magic and comment, every second, multiplying the lot by 10 every time – someone should have wrote this code in the EA in the first place.
In addition, it was working just fine for two weeks.
When I presented those arguments, the author first suggested that “random portions of the algorithm being executed because the protection has detected the misuse” – which is terrifying idea on its own, suggesting he has embedded the algorithm in the EA that can wipe your account in seconds if for some reason it believes something isn’t working as it should.
Just to remind you, the official manual suggests to restart the MT with the advisor running every week “to restore the connectivity with the server”.
After our discussion was published on one of the forums, he has came up with the new idea: he was saying there is a hidden parameter in his code, called “hard scalping” – the one that is turning this draining algorithm on, and the hacker that messed with the code must have switched it on.
Which, again, doesn’t add up, as the EA was working just fine for two weeks.
So my inference would be that the author has a button to drain your account.
This is a wild guess, a speculation – but an alternative explanation, suggesting there is an algorithm in the EA that may decide to do the same isn’t much better really.
here’s my myfxbook, for anyone interested to take a look: http://www.myfxbook.com/members/rigal/scalpers/4616743
You want to filter by magic number (there are two marked “PRO VSA (proforexea)”) to see the two-weeks long curve trending down.
Select “manual” in magic analysis to see those USDJPY deals of 211.11 lots in total.
Just wanted to warn anyone to steer clear of this scam: the EA itself is not good, and the author seems to be dangerous psychopath. You don’t want to hand a keys to your account to this kind of person.
This scam reappeared with the name ELONMUSK EA, The author calls himself Jared Winston, but it is the same person. His real name is: Boykachev Konstantin Stanislavovich. He also runs a scam broker with the name NDDFX. I also want to warn anyone to stay clear from these scams.