Athena EA Review

Athena EA claims to provide an explosive account growth of 8% to 25% per month. This MT4 tool uses complete automation for ensuring profitable returns. The vendor promises consistent returns from the system due to the efficient money management it uses. As per the vendor, the ATS has given 15% average monthly returns, 65% quarterly returns, and an annual return of 220%. The vendor states that the drawdown is less than 30%.  

Is this a viable FX robot?

Elite CurrenSea is the company that develops and promotes this ATS. Nenad Kerkez and Chris Svorcik are the founder-developers of the company. Mykyta Barabanov is the co-founder in charge of growth marketing, investing, and business development. Founded in 2015, the company offers a large variety of software, trading tools, market research, event management, and more. Other products of the firm include Zeus EA, Portfolio ECS, and more. The vendor provides a location address and customer support is via email messaging.

This FX EA works mainly on the EURUSD pair. It is a grid trading method that provides a special TP approach. With the innovative method, the system manages to close an account without any loss. According to the vendor info, the trades are via price swings and price action. The EA uses an elegant implementation of a classic equation. 

How to start trading with Athena EA

To purchase this FX robot, you need to choose from the available packages namely an annual rental (€799) package, a lifetime (€999) package, a rental sponsored (€499) package that has recurrent yearly payments, and a managed account package that does not have upfront fees. Features included in the packages are support and onboarding, VPS, and support via Telegram Channel and Reporting. For the managed account service, you need to pay 25% to 35% of the profits to the company.

As per the vendor, the ATS uses technical analysis and comprises two separate EAs, one for buying and the other for selling. The robot opens multiple traders per day of short and long positions. The orders entries and exits are done using price swings, moving averages, and oscillators.

Important features of the robot that the vendor focuses on are:

• It provides 5% to 25% monthly returns based on the returns from live trading done for over 2 years.
• Rental and managed packages are available.
• The automated system does not require any prior experience in managing the MT4 tool.
• You can customize the risk levels and increase or lower the profitability factor.
• Withdrawal of profits at any given time is possible.

Recommendations include the leverage of 1:500, a minimal deposit of $50 for cent accounts, €4,000 for the rental packages, and €400 for a PAMM account.

Athena EA backtests

As per the vendor, backtesting is not possible for this ATS as it uses two EAs which should run simultaneously for the backtesting. 

Trading results

A live real EUR account using the IC Markets broker and the leverage of 1:500 is present for this FX robot. 

From the above results, we can see a total profit of 183% is present for the account that started in January 2021. A daily and monthly profit of 0.24% and 7.36% are present. The drawdown is 33.73%. For a deposit of €21,669.95, the account reveals a total of 21,452 trades with a 72% profitability and a profit factor value of 1.65.  From the trading history, we can see the lot sizes of 0.01 and 0.02 are used. While the lot size is low indicating low risk, the drawdown is high. Traders will not feel comfortable with a drawdown of more than 20% due to the associated risk. Furthermore, we find the monthly profits are very low and not consistent. 

Customer support

For support, the vendor provides an FAQ section, an online contact form, and Telegram channel support. 

People feedback

Unfortunately, we could not find user reviews for this FX EA on reputed sites like Forexpeacearmy, Trustpilot, etc. However, we found feedback for the EliteCurrenSea company on the Forexpeacearmy site with a rating of 4.499/5 for 86 reviews. 

Wrapping up 

Advantages

• It is a fully automated system with diverse features
• Verified trading results

Disadvantages

• Expensive pricing options
• No refund policy
• Real trading results show high risk

Athena EA assures consistent returns with its effective money management methods. Our analysis reveals that the monthly profits are low ranging from 2.87% up to 15%, which is not what the vendor claims. Besides, the system uses the grid approach which is considered a risky method. Other downsides we found in the EA include expensive pricing and the lack of a money-back guarantee.