With the promise of steady profits and reliability, MG Pro EA is an MT4 trading tool luring traders with its capability of generating a win rate of 74%. This fully automated system uses inbuilt smart indicators to analyze the market and place trades. According to the vendor, the preprogrammed FX robot will not be as prone to errors as with human intervention.  This EA is promoted by the SinryAdvice group that creates FX robots and trading indicators for the Metatrader 4 platform.

Product Offering

MG Pro EA - Product Offering

According to the vendor, this EA is the most profitable of the various EAs created by the SinryAdvice group. Important features of the MT4 tool include easy default settings, automated opening and closing of trades, and the use of over 12 inner indicators for market analysis.

The website design is user-friendly with easy navigation features. We can find separate sections for the robots, indicators, about us, user reviews, and more. The SinryAdvice group is based in Malaysia with a team of 18 employees across several countries including India, the UK, and Turkey. Their main focus is on creating a trader community based on legitimate results and transparency.  

An office address and phone contact are present on the contact us section of the site. Other customer support options provided include email addresses and social media links for Instagram, Twitter, YouTube, and Facebook.

MG Pro EA

Type Fully-automated EA
Price $288
Strategy Price action and momentum
Compatible Platforms MT4
Currency Pairs AUDCAD, CADCHF, EURUSD, NZDCAD, USDCAD
Timeframe M5
Recommended Min. Deposit $500
Recommended Deposit $1000
Leverage above 1:100

MG Pro EA pricing

A price of $288 is levied for this EA. This is a discounted price with the earlier rate being $488. When compared to the price of other competitor EAs in the market, the price is expensive even with the 14- day refund offer. The vendor claims that traders can initially test the FX EA on a demo account for 14 days and if they are not satisfied with the results, their money will be refunded by sending a refund request via email.

Trading Strategy

As per the info provided on the site, this FX Robot uses its inbuilt indicators to assess the various market movements including price action, trend line, and more. The trades are executed based on the analyses and the vendor informs that this MT4 tool is a top-rated EA with high profits and the lowest risk. 

MG Pro EA Trading Strategy

Setting up the FX EA is an easy process. After purchasing the EA, you will be given the download link for saving the software to your computer. Use your MT4 app and after sending your MT4 account number to the vendor, you can start trading using the default settings.

MG Pro EA - recommended setting

Five currency pairs can be traded with this EA in the 5-minute timeframe. For a smaller lot size of 0.01, a minimum of $500 is sufficient for trading. The vendor recommends using leverage above 1:100 and not use the mini or cent accounts. Opoforex broker is recommended by the vendor due to the high server speed and better auto trading results.

Trading Results

Verified and live real account results are present for this EA. Here are a couple of screenshots of the results found on the myfxbook site.

MG Pro EA Myfxbook

MG Pro EA trading results

From the above images, we can see the real USD account using the LiteForex broker and the leverage of 1:200 showing a total gain of 135.19% and an absolute gain of 132.97%.  A drawdown of 44.93% is present for this trading account with the daily and monthly profits being 0.34% and 10.81% respectively. While the profit looks decent for the deposit of $512, we find the drawdown is very high. It indicates the approach used is not effective and can cause a big loss.

For the trading history started in September 2020, the number of trades executed is 860 with a profitability percentage of 66%. The profit factor is 1.97 and the lot sizes used for the trades are similar at 0.02. Although the vendor mentions past performance results, no backtests can be found on the site. Even if the strategy tests are not predictive of the future performance of the EA, they give a better insight into the approach used. 

Customer Reviews

Reviews from users are posted on the official site. But since these have a high chance of being manipulated, we prefer reviews from sites like Forexpeacearmy, Trustpilot, etc. Without user reviews, it is clear that the EA is not a popular or reliable one.

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PROS
Fully automated
Live and verified trading results
CONS
High drawdown present
The trading approach is not explained
Price is expensive
4.6
Verdict
As an MT4 trading tool, MG Pro EA provides verified results and a promise of a 74%-win rate. Customer support options are present for easy communication in case of issues. However, the trading results reveal a high percentage of drawdown which is not acceptable. Furthermore, the lot size is also high. All these denote that the strategy used is not of low risk as the vendor claims. The lack of authentic user reviews and expensive price are other downsides that confirm our suspicions that the EA is unreliable.

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