ALA Forex EA Review
Welcome back to best ea forex! Last time we shared an interesting Forex Trendy Review. For today´s post, we will be doing an ALA Forex EA review. Here we will talk about some of the major characteristics of this EA. So, be prepared to learn a lot about the features, the strategy implemented, performance, prices, and the pros and cons you get while trading with this bot.
If you are interested in trading with this EA, keep reading this article to the very end to find out all information you need to know before purchasing. Enjoy!
What is ALA Forex EA?
ALA Forex EA is an automated Forex trading robot that works on the MT4 platform. The vendor of this bot calls it “the best Forex EA of 2020” because of all the innovative and technological features added to it. But, how does it stand out from the rest? ALA Forex EA works with a mathematical algorithm to trade.
Also, on the website, you can find all information related to the number of pips and profits of the bot so far since 2015. And there are also many backtests results available to you in case you would like to check them. Even you can see the performance of the EA on each of the 6 different trading currencies available. Here you will find all in-depth information ranging from profit rate, maximum drawdown, total profit, and a total of trades.
On the sales page, we found all the critical information needed to start trading right away. So, firstly you don’t need a minimum deposit in your account to start trading. And depending on the time you allow the bot to trade and the amount of money you invest, your profits should be around 10% to 40% monthly. So, it is advised by the developer you should start with less than USD 5000 to avoid major risks if you are just getting started. But remember you an easily make use of the free demo account available to get the hang of the EA before trading with the live one. So will we add this EA to our best forex robots? Read more below!
ALA Forex EA Features
- Trades multiple currencies at once.
- Built-in money-management.
- Runs demo and live accounts.
- Free lifetime updates.
- Works 24 hours a day for 5 days a week.
- Customer support always available.
- Elite performance.
- Utilizes the power of math.
- Around 10% to 40% revenue monthly.
Who is behind ALA Forex Robot?
This ALA Forex EA review wouldn’t be complete if we didn’t give you information about the developers, creators, and whole team that work behind this bot. Sadly, in this case, there is no official information provided on the sales page. But we know it is not the first time a robot lacks this type of insight. Although, full transparency is key in this business.
The only thing we could find on our own is their website is hosted in Berlin. But that’s all. If you wish to contact them you can fill a request on the official site.
ALA Forex EA Trading Strategy
As always, in this section, we will do an ALA Forex EA review about the trading strategy. We must say we are greatly pleased with all proof provided by the vendor on the sales page. Everything is clear and legitimate.
So, this vendor says the EA does a “truly elite performance”. And you can see all the live results provided as proof are verified by Myfxbook. And if you contact them you can make a personalized backtest request on the currency you would like to study and analyze. As well, you can find the backtest of the 6 different currencies available to trade on the official website. The 6 different pairs to choose are EURUSD, USDCHF, USDJPY, USDMXN, GBPJPY, and EURJPY. These backtests are available since 2015 to the present.
Apart from this information, there is no more deep explanation about what are the strategies this robot trades with. So this is a big downside because even though the results seem to be good, they don’t specify anything in general. And the TimeFrame is mostly unknown, but after taking a look at the charts we could see the trade length it´s around 21 hours. So you can compare this trading strategy with what we saw in the forex gold investor review.
But, we have to remember this EA just launched. So it´s very new. Hopefully shortly when it´s a bit more famous we can get more in-depth info about the overall strategy.
ALA Forex EA Packages/ Prices
In this section of the ALA Forex EA review, we will be discussing the prices and packages available to purchase this robot. And, as you can see, there are currently 2 offers on the sales page to choose from. So, it´s very important to mention all of these offers are one-time payment only, no monthly or yearly fees.
Free Demo Account
- Downloadable just on the MQL5 marketplace.
- Unlimited demo account.
- Unlimited backtests are available.
- Unlimited currency pairs.
- Pre-purchase support.
- Price: USD 349.
- Life time usage.
- Free lifetime updates.
- Optimized default settings.
- Trade multiple FX pairs at once.
- Detailed PDF Manual.
- Dedicated customer support.
After the details of both the packages available, the vendor states that this EA works much better with low-speed brokers. And proceed to recommend a few of their partner brokers, such as IC Markets, Think Markets, and Pip Affiliates.
Pros & Cons
- Backtest results provided since 2015.
- Personalized backtest requests.
- Live and verified results from Myfxbook.
- Major currency pairs available to trade with.
- Free and paid version to choose from.
- Demo account available.
- Money-management technology implemented.
- No minimum deposit to start trading.
- Works only on the MT4 platform.
- Not all currencies are available.
- The trading strategy is mostly unclear.
Conclusions ALA Forex EA Review
We have now reached the end of this ALA Forex EA review. Overall, we see a lot of potential in this EA because they show real results and offer a lot of backtests and information about all the 6 different currencies available to trade. But of course, there are a few little downsides like the lack of information about the vendor and insight of the trading strategy.
So, since this EA is so new hopefully it can be updated shortly with more details.