Magic FX EA is a fully automated EA mainly designed to trade EURAUD, EURCAD, GBPCAD, GBPUSD on the 5M time frame. The robot only needs a minimum deposit of 50$ to work and is usually being sold for $445(LifeTime).
Let’s analyze this robot in full detail so that the Forex community understands how it works and if it should be trusted. If you have already used this robot; feel free to leave a review of your experience with this robot down below.
Magic FX work based on channel indicator and candlestick patterns to open and close trades. It’s only trades every day at a specific time. The EA does not use grid, martingale, or other dangerous money management methods. Magic FX EA doesn’t open a lot of trades, around 16 trades a week.
The most important part of an EA review is obviously the trading history. And for Magic FX EA Review there are MQL5 copy trading signals since September 2020 with a steady growth of 30% for a month while having a maximum drawdown of 9% using an initial deposit of 50$ from the official seller. There are also some Myfxbook verified results with similar results to MQL5 Signals but I’m not sure they’re from the official developer. Since EA is new there aren’t a lot of results. Still, the track record of the existing result of this EA is very good.