What do we know about Benefit EA? The worst start of the presentation we’ve ever seen. They think we care about social networks. Who cares? Everyone cares about availability myfxbook verified account and monthly profit/DDs level… and what does “channels” mean? Groups, pages, something else?
This way of starting conversation means that they treat us like idiots. “You need to understand” is how a teacher tries to explain something for the most stupid student in a class. It’s kinda like “You’re a dork. You need to understand this life is cruel and you’ll be f**cked if you keep doing like this”.
The next is they suggested to us the NPBFX broker we’ve never heard about. Where’s FXOpen, IC Markets, and others.
The EA’s options:
- $5000-10000 deposit
- 1:20-1:1000 leverage
- H1, M1, M5, M15 time frames
- GBP/USD, USD/JPY, EUR/USD, EUR/JPY, USD/CAD, USD/CHF, AUD/USD currency pairs
- Non-indicative flexible grid strategy
- There’s no stop-loss system
- Advance settings for professionals and a flexible system of tinctures for different styles of trade: «Shortening», «scalping» «flotation».
- By default, the EA has settings for $ 5000 GBP / USD H1 1:500 10-15% per month. Other settings have a separate price- $50.
The 4.1 version includes optimizations of the entry points, semi-automated trading button, updated time filter, and others.
The devs provided no intel about previous version patch-logs.
There’s a working economic calendar on the site.
Screenshots of backtests
Instead of real reports, the devs showed us screenshots that can be easily photoshopped. So, we’ve got 2 years old backtest. There was a GBP/USD currency pair, a 1-hour time frame, and $5000 the initial deposit. The total profit was $10182. The profit factor was 1.99, maximal drawdown 43.13%. The win-rate is extremely low and equaled 69-70%.
We’ve got some screenshots for the $10000 account. If it was on the real account it would be quickly zeroed, especially, taking into account, there’s no stop-loss system.
Real account trading results
All the real accounts have been stopped in 2018-2019. The devs don’t trust their robot anymore. So, we can be sure the robot is updated and works well.
It’s one of the accounts. It’s a real USD account, traded through NPBFX brokerage company, with 1:500 leverage on the MetaTrader 4 platform. The robot traded just four months. The account has been funded at $48485 and withdrawn $58209. During the period EA provided +113.88 % of the gain. The monthly gain was 19,95% with quite a low drawdowns (9.03%).
Benefit EA performed 3045 trades with -1895 pips. The profit factor was 2.1. The longs win-rate was 66%, shorts one was 71%.
The robot traded with the same success in both directions.
Benefit EA opened trades all day long.
The last traded month has been August 2018.
The robot is listed on the MQL5 site. The robot costs crazy money ($2000) there.
This man has bought a copy of the robot and has been completely disappointed of its performance. The robot systematically trades again trends and increases the size of the lots in the process. So, if a trend goes for 700-800 pips this can easily destroy the account. The man summed up that this robot doesn’t cost this money because the same you can get in times cheaper or even for free.
The devs answered him in a rude manner. We’ve checked he is from Russia, so, for them this ok.
As we can see, the last update has been a long time ago.
Benefit EA sells in three packages depending on the number of licenses. 1 license costs 1000EUR, Startup support (What is it?), ECN Support, working with the most major pairs, no updates, and no money-back guarantee. 2 licenses cost 1750EUR, 3 ones cost 1500EUR. All the buy buttons aren’t clickable.
Benefit EA Review Summary
- 2 years old real account trading results
- Parameters explained
- Brokers list provided
- Rude manner of the presentation and conversations
- Strategies not well-explained
- Fake backtests
- 2 years old real account trading results
- Crazy price
- No money-back guarantee
- No support
- No free lifetime updates
- Rude manner of speaking with customers
Any luck Benefit EA is alive?
We’ve got a typical Russian product where’s the dev doesn’t care at all about his customers. The robot has been stopped two years ago and the account is withdrawn. Now, the robot is dead. The last update has been July 2018. We don’t know anything about how good it is now, and probably no one would like to know this, spending the $2000 MQL5 price to know it for sure.