Excelsior is an MT5 tool that works on multiple currency pairs. As per the developer, this expert advisor uses a version of the recurrent neural network. This ATS trades automatically on weekly and daily charts. You can use the same account for other indicators or advisors without impacting the efficacy of this EA.
Is Excelsior robot worth investing in?
Evgeniy Scherbina is the developer of this FX EA. He is from Russia and has more than 7 years of experience in developing automated FX trading tools. He has 24 products, 3 signals, and 106 subscribers to his credit. His other products include News Catcher Pro, Trade Keeper Pro, High Trend, Pipsovar, and more.
As per the developer, this FX robot works on 8 currency pairs simultaneously. The EURUSD, AUDUSD, GBPUSD, GBPCHF, USDCAD, USDCHF, USDJPY, and NZDUSD are the pairs this ATS works on. It is capable of compensating for losing trades in case of increasing volatility. The developer claims that the system uses a dynamic trail for achieving the highest profit from the trending trades.
The developer states that two independent strategies are used for identifying accurate entries and exits. While one approach is used during the week while the weekly signal is valid, the other strategy is used during the day when the daily signal is valid. This FX robot uses trend changes for opening and closing trades. It closes trades or sets an SL at the opening price based on its trend-based algorithm. As per the vendor, the initial SL is an indicator that is set up for the internal calculations.
How to start trading with Excelsior
To purchase this FX EA, you have to shell out $385. A free demo account is available. There is no further info on the package like the features available, refund policy, etc. The absence of a refund policy makes us suspect the reliability of the product.
Recommendations for using this ATS include a minimum deposit of $250 and a recommended deposit of $1000. The developer suggests using the default settings and for best results to optimize the deposit and leverage for one last year. This expert advisor can work on a VPS.
A backtesting report for this FX EA shown above is present on the official site. From the report, we can see that the testing was done from 2018 to 2021. For an initial deposit of 1000, the account had generated a total net profit of 53,328,371.51. The equity drawdown was 18% and the profit factor was 186.29. The profits are high and the drawdown low indicating the backtesting conditions have been tweaked for high performance. However, we cannot expect similar results in real-time trading.
A live signal started from December 5, 2021, is present for this FX EA on the MQL5 site. The growth graph shows 21.64% growth and a profit of 173.97 EUR. For an initial deposit of 849.67 EUR, the account shows a maximum drawdown of 7.3%. The profit factor value of 1379.14 is very high indicating appreciable performance. When compared with backtesting results we find the profits are higher in real-time than in the strategy tester. However, since the sample size is very small, the results may be random and not reflect the actual efficacy of the EA.
For support, the only method available is messaging the developer via the MQL5 site. We could not find support methods like live chat, email address, phone number, etc.
Unfortunately, we could not find user reviews for this FX EA on reputed sites like Forex Peace Army, Trustpilot, etc. But there are reviews on the MQL5 site for this ATS. However, since the site promotes the product, the chances of the feedback being manipulated are high. So, we do not consider the reviews.
- A fully automated software
- Live signal results
- Vague strategy explanation
- Small sample size
- Product is costly
Excelsior promises high profitability with its neural network-based approach. On evaluating this multi-currency system, we find it has back tested and live trading results to prove the high-profit claims. However, a closer look at the results reveals that the sample size is very small for the results to be significant. Further, the product is overpriced and does not have a refund offer. The lack of user reviews on reputed sites like FPA, Trustpilot, etc., and the inadequate support methods are other downsides that you should consider while deciding on using this ATS.