Athena EA promises a monthly growth of 8-25%. This robot operates on the MT4 trading platform, promising rapid account growth. It is supported by verified trading statistics and has multiple pricing plans.

Product offering

On the official website, you can find all the main features clearly listed. The vendor has presented some performance statistics for the EA and shared the link to the live trading account. We also have the details of the key team members and the pricing plans. There is an extensive FAQ section and some reviews from users.

The parent company behind this EA is known as Elite CurrentSea. It was founded in 2014 by Chris Svorcik and Nenad Kerkez. The former acts as the CEO, while the latter acts as the head trader. Mykyta Barabanov is the third co-founder and CMO. The headquarters of this company is located in Tallinn, Estonia.

There are four plans for this EA. For the rental plan, you need to pay a yearly recurring fee of €799. The lifetime plan costs €999, while the rental sponsored plan is available for €499, recurring yearly. Finally, there is the Managed Account plan with zero upfront fees but a profit share of 25-35%. These plans are quite expensive compared to others. The subscription-based services come with a refund policy, but this is only for renewal payments and you need to make the request within 48 hours after making the payment. 

Type Fully-automated EA
Price $999
Strategy Grid
Compatible Platforms MT4
Currency Pairs EUR/USD
Timeframe Multiple
Recommended Min. Deposit $50 for cent accounts
Leverage 500:1

Trading strategy

This is a 100% automated EA that only trades in the EUR/USD pair. You can run it simultaneously on multiple charts for various timeframes. For cent accounts, you can start with only $50, but for the rental option, you need €4,000, while PAMM accounts require €400.

This EA follows a Grid-trading algorithm that trades in price action and price swings. It uses classical mathematical equations and makes its entries and exits with the help of price swings, oscillators, and moving averages. 

The developer recommends using minimum leverage of 500:1 for safe trading. You have the option to add a VPS and there is a managed account available as well. It is recommended that you sign up with the Key to Markets broker for spread-based rebates. 

Since the take profit is only 4 pips, the EA is spread-sensitive. For this reason, you should use zero or low spread. For the robot to run properly, you must sign up with a broker that supports hedging. 

Trading results

Growth chart of Athena EA on Myfxbook.

This live trading account on Myfxbook was launched on January 07, 2021. Since then, the EA has conducted 21,383 trades through this account, which means it has a very high trading frequency. The win rate is fairly high at 72%, and the profit factor of 1.65 can be considered decent. 

We can see that the monthly gain of 7.42% is a little less than what the vendor promises on the website. The average daily gain is 0.24%, while the drawdown is 33.73%. The total profit generated through the account currently stands at €17,170.08m while the time-weighted return is +181.59%.

Trading results of Athena EA on Myfxbook.

For the recent trades, the EA has been using a lot size of 0.01-0.04. It holds each order for an average of 5 hours and 18 minutes. The average win and loss are 6.45 pips/€2.86 and -18.09 pips/-€4.36, respectively.  It uses the Grid approach and applies Martingale to recover after losses.

It is common practice for EA vendors to test their systems using historical data. Unfortunately, the vendor has not shared the backtesting results for this expert advisor. Therefore, we cannot compare them with the live statistics to get a clearer picture of the robot’s performance. 

Customer reviews

User reviews for Elite CurrentSea on Forex Peace Army.

At this moment, there are no user reviews for this expert advisor on third-party websites. However, there are several reviews for Elite CurrentSea, the parent company, on Forex Peace Army. Many users have complained about losing money with the EAs sold by this company.

Pros
Verified trading statistics
Cons
No backtesting results
High drawdown
No money-back guarantee
5
Verdict
Athena EA is quite expensive compared to the market average. The vendor has not shared the historical test results, so we have no idea about the long-term performance. Although live trading results are present, we can see that the robot trades with a risky combo of Grid and Maringale approaches.

Leave a Reply

7  +  3  =