News Catcher Pro Review

News Catcher Pro uses the mean-reversion approach to ensure high returns and low risk. It works on the GBPUSD, EURGBP, and EURUSD pairs. This expert advisor is compatible with the MT4 as well as MT5 platforms. As per the developer, Valeriia Mishchenko, the system is fully automated and does not use dangerous approaches like the Grid or Martingale. 

Is it a viable robot you should invest in?

Valeriia Mishchenko is the author of this FX EA. She is based in Russia and has created 8 products and 18 signals. Some of her other products are Hunter Night, Evening Scalper, and Waka Waka.  The author provides a Telegram link for contact or you can use the messaging option on the MQL5 site.

Instructions on the installation, requirements, settings, and strategy are provided on the official site. The author claims that the system is not a curve-fitting ATS but a real-world trading tool with SL for each trade and showing realistic results in backtesting and real trading.

The ATS works on three major currency pairs namely EURUSD, GBPUSD, and EURGBP. It is FIFO compatible. It uses intraday seasonal volatility triggered by news events of high impact to make entries and exits. The author claims that the system does not trade frequently. 

How to start trading with News Catcher Pro

To buy this ATS, you need to pay $899. As per the developer, only 6 copies are remaining at the price and the next price is $999. A free demo account is present. The author does not provide info on the features available with the package. There is no money-back guarantee present which raises doubts about the dependability of the product. 

When compared to the market average, the pricing is exorbitant. The product was initially sold for $499, when it was launched by the author in March 2022, but now its price has been nearly doubled.

As per the author, you can work on all currency pairs using one chart on the M5 timeframe. The author claims that the EA has a solid backtest and live performance. It uses an advanced news filter, a self-diagnostic system, and auto GMT detection for identifying accurate trades. 

For installation, the developer recommends that the ATS must be linked to one M5 chart and work on the EURUSD as the default settings are for this pair mainly. Other recommendations of the vendor include the use of a hedging account, a VPS, and an ECN broker for best results.

News Catcher Pro backtests

Although the developer mentions that the EA has a solid backtest performance and recommends the tests to be done with Tick Data Suite GMT+2 with US DST, there are no backtesting reports present. Without the presence of a strategy tester report, we are unable to assess the efficacy of the strategy and its working method.

Trading results

A real AUD account using the IC Markets broker and the leverage of 1:500 on the MT4 platform verified by the myfxbook site is present. Here are details of the trading account:

From the above stats, we can see that the expert advisor has generated a total profit of 163.57% with a daily profit of 0.36% and a monthly profit of 11.52%. The drawdown for the account is 68.34%. For the account that started in August 2021 with a deposit of A$30, a total of 97 trades were executed with 95% profitability and a profit factor of 1.24. A lot size of 0.01 is used as per the trading history. From the growth curve, it is clear that the account had a few downturns with the recent one being a big one showing poor risk management and an ineffective approach.  

Customer support

A Telegram channel link and the messaging feature on the MQL5 site are the main methods of support the developer offers for users. 

People feedback

Unfortunately, we could not find user reviews for this expert advisor on reputed review sites like Forexpeacearmy, Trustpilot, etc. The MQL5 site has a few reviews, but we do not consider them. Since the site promotes the product, the feedback may be manipulated.

Summary

Advantages

• A fully automated software
• Live verified results

Disadvantages

• Expensively priced
• High drawdown in real trading results
• No money-back guarantee 

News Catcher Pro makes use of impact creating news events to place accurate orders. Real verified results are present for the EA. However, our evaluation of the results indicates poor risk management and an unsuccessful approach. The expensive pricing and the absence of a money-back assurance are the other disadvantages of this FX robot.