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Home Expert Advisors

Phoenix Trading Review

by Myfxtools
June 10, 2020
in Expert Advisors
Phoenix Trading
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What does Phoenix Trading offer to clients?

We’d like to introduce to you a Phoenix Trading review. The presentation looks simple and cheap. Let’s group up the most important intel. “Phoenix Trading uses proprietary software that lets a single trader manage trades on multiple accounts.”

forex ea chart
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  • Fully-automated trading.
  • PAM account based on any broker we want.
  • The minimum deposit is $2000.
  • No hold periods provided.
  • No withdrawn delays.
  • 15% of the performance fees from profitable trades.
  • A $25 subscribing fee will be charged monthly.

3rd-party verified trading results

Phoenix Trading Myfxbook

We’ve got just a single link on the trading results. So, it’s a real USD account on IC Markets with 1:500 leverage on the MetaTrader 4 platform. The account has been funded as little as $2000. The monthly gain was 6.46%. The max drawdown was 99.84%. That’s insane. During over a year the robot provided +144.62% of the account gain.

Phoenix Trading advanced statistics

There have been traded 3654 deals with -4145.9 pips. The average win ($4.98) is twice less than the average loss (-$10.20). The average win-rate was 71-73%. The average trade length was 11 hours. The profit factor was 1.28.

Phoenix Trading statistics

EA worked with two symbols: EUR/USD and GBP/USD.

Phoenix Trading statistics

Most of the trades were opened during the European trading session.

Phoenix Trading statistics

Phoenix Trading Robot runs with extremely high risks.

Phoenix Trading statistics

There are a lot of open trades that provided the account almost -60% of the loss.

Phoenix Trading monthly gain

It traded well in 2019, but in 2020 not.

Phoenix Trading monthly gain

As you can see, there were just several months traded.

Phoenix Trading is a scam

Pros

  • Real account trading results
  • Little performance fee

Cons

  • No strategy and system explanations provided
  • No backtests provided
  • Little deposit as for a PAMM company
  • Weak trading results
  • Insane max drawdown
  • Extremely high risks trading
  • Little months traded in 2020

It’s a garbage PAMM service provider. We’ve seen no big account balance, save trading, low maximum drawdown, frequency trading, numbers of symbols to work with, etc. Also, we know nothing about a strategy the robot runs. There are no backtests. We’ve googled for people’s feedback and found no mentions across the web. So, bringing them $2000+ to trade will be a huge mistake, because at the account there are many open trades that if they’re closed immediately halved the account. 

forex ea chart
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