EA Review: Rev Trader Pro
Today’s review looks at an expert advisor called Rev Trader Pro. This fully automated robot was created by a former money manager and forex trader, Doug price. It works on the MetaTrader 4 platform.
Doug claims that this EA is used by wealthy clients worth $10 million. Our analysis will examine if this robot is a money maker or it’s just another scam. Is it suitable for forex beginners? We also look at the performance stats and customer reviews.
What is Rev Trader Pro?
Rev Trader Pro is a fully automated forex robot. From the website, it is apparent that the developers are targeting high net individuals. Moreso, it claims to teach a free, simple method that eliminates risks and false trade signals.
The website states that this EA uses multiple strategies to win trades. The developer utilizes a trade reversal detection technology. This unique tech uses the developer’s experience in forex trading to detect potential reversals. Moreover, the EA uses a false signal detection technology that works hand in hand with trade reversal detection technology. This technology also helps to spot and avoid possible bad trade signals.
The EA also uses a strategy based on account risk management. This helps traders specify their risk settings at any time during trading. To lock in profits, this robot uses a dynamic trade operation management approach. The website claims that this assists the account grow greater and smoother. Other notable approaches this robot uses include alert options to let you of trade options, email notification and ECN/Multi-Digit compatibility.
From the website, it is clear that the developers do not endorse martingale or the grid strategies to trading. However, this EA works with multiple currency pairs, including EURUSD, GBPUSD, AUDUSD, and NZDAUD.
Claims by the EA:
A real trading account with more than $140,000
Now let’s look at the performance and customer reviews.
Rev Trader Pro Review
The developers have not provided backtests. However, they have shared their verified real account and personal statements. The real account put up at Myfxbook shows impressive results. With an initial deposit of $4,975, the account grows by a profit of $173,081 over a period of 3 years.
The monthly growth stands at 9.6%, while the drawdown stands at 24%, which is not bad. The only downside is that updates stopped in 2017; therefore, we have no idea of the current performance.
During this period, the EA conducted 938 trades. 593 of these trades were winning, a win-rate of 63%. The EA managed 3809 pips with an average win of 24.97 pips/$806.8. However, the average loss is -31.87 /$885.14. The average trade length is 22h, with a profit factor 1.57.
From the profit and loss statement shown on the website, over a span of 2 years, the developer was able to make $193k. This was from an initial deposit of close to $4,000.
Please note that we cannot independently verify this account statement.
This EA is a part of ClickBetter Affiliate Network. The developers are offering a 60-day money-back guarantee if a trader is not satisfied with this product.
Rev Trader Pro Refund Policy
According to the website, Rev Trader Pro is part of the ClickBetter Affiliate Network. Therefore, they offer a 60-day money money-back guarantee. Affiliate sites such as ClickBetter are used by vendors who want to drive traffic to their site.
Can we trust the statement about their guaranteed return policy? Checking reviews online suggest that this service does not rank very well. We therefore cannot take their guarantee as legit.
This is yet another expert advisor from Doug Price who claims to be an experienced forex trader and a money manager. A quick search on the internet and some quarters label Doug as a fraud.
Rev Trader Pro Customer Reviews.
We checked out various reputable sites to get a feel of how this EA is performing. The majority of the users who reviewed this robot seem to have had a positive experience. Note that these reviews were written between 2014 and 2017.
The website claims that their real account makes $140,000 in profit, which traders can replicate. The real account shows a profit of $173,308 which is more than that stated by the website. However, looking at the overall gain vs the absolute gain tells a different story.
Note that the account owner deposited more money to this account to shore it up. This enables this account sustain this profit.
We believe that due to this process being unstainable, the account was shut down.
This EA uses multiple strategies to assist traders to realize profits. However, we are concerned that updates and reviews only date back to 2017. Currently, despite some EA marketplaces pushing this product, we have no idea how it would perform.
Therefore, we advice you to be extremely cautious. This is especially for forex trade beginners.
Rev Trader pro by Doug seemed to have started off extremely well. This EA showed real promise due to the amazing results posted. Even the customer reviews were above average.
However, we recommend that you keep off this forex robot for now. Reasons being that updates for their real money account ceased updating in 2017. Consequently, we have no basis for how it would perform now.