Suppose you are looking for success in trading specifically Forex trading. In that case, there are two ways to go about it – one is by studying the market yourself, and the other is by setting up a robust Autotrader that will do most of the job for you. The latter is the preferred option if you do not want to get into the complexities of Forex trading, and of course, it saves you an immense amount of time.
The Product
The EABuilder is a user-friendly web-based application, which means it requires no downloads and no programming skills to set it up. It assists you in creating indicators and trading strategies and sets it up as an automated process. It works with three trading platforms – MetaTrader4, MetaTrader5 and TradeStation. You can pick the one you are most comfortable with.
With EABuilder, you can work with three markets – Forex, commodities, and equities all in one place. I like this feature, which allows me to trade anything I want and sets it apart from most other automated trading tools.
EABuilder is available via an online purchase and is a member of the ClickBank marketplace.
How it Works
Once you sign up for the free version, you can build rules based on your strategies and market conditions. You can set up the system to integrate with your trading platform at MT4 or MT5 to automate your trades. The software sends you custom email and audible alerts, which you can pre-set to work with your trade strategies.
There is a free trial version with limited functionalities. The best thing here is that you can try out the system to see if it suits you. In the free version, you can use MT4 or MT5 only though. If you can work with the software, you can upgrade to a paid version, which gives you access to the Expert Advisors section and unlimited lifetime access to all its functionalities.
The product contains 15 video tutorials to help you set up the program, test it, and optimize your strategies for profitable trades.
The Creators
No names came up when I tried to find out the creator of this software product. The company name, i.e., EABuilder, is what we have. However, to their credit, this is simply not a reason not to trust it, as I found their support system quick and reliable. Ultimately, that’s what matters most.
Pros
The EABuilder has a lot of positive features that work. Here is what I found to be very useful:
- The system, once set, can be fully automated and will not need you to be logged in all the time for trading..
- You do not need professional coding or technical skills to understand and set up the EABuilder.
- It has a broad spectrum of trading opportunities – it can trade across all time zones and all currency pairs and is not limited to Forex only. You can set this up to trade stocks, commodities, and more.
- You can set rules with timeframes, entry and exit points and caps suited to your needs..
- The video tutorials are great for visual learners. The guides are detailed and easy to understand.
- The money management feature is a big plus. It “protects” your money from the more considerable losses (by allowing a risk percent per trade cut-off, position sizing, contract size limits, etc.) and makes even significant sums of your money available whenever you need it for a big trade.
- You can create your own personalized indicators and need not follow their robots, as with many Forex trading tools. You have complete freedom and control of your trade.
- As a paid member, I can always contact other members in the forum for support. The site’s support system was vigilant and responsive, with comprehensive answers to my problems.
Cons
Of course, we all know that there is no perfect product, and we need to understand the positives and downsides before actually going through with it. Here are some of the areas I feel could do with improvement:
- The program is not for a complete newbie. If you want to get started with trading, this is not the first step for you. Although they advertise that the product is for beginners, from what I can see, you need some knowledge of the markets to make this work for you. You do not need any programming or coding know-how, though. In that respect, you can be a complete newbie.
- It may not be the right product for high-level trading and big profits. It tends to limit your risk appetite (to contain significant losses, of course), but if you are adventurous, you may find it a tad regulating.
- Not much is known about the creators. Some details about the team behind this would add to the trust factor.
My Verdict
I like the EABuilder mainly for its wide range of possibilities. You can trade in anything at any time with your pre-set strategies. Also, it does not limit itself to one trading platform, which is a plus. With its free limited-use version to test-drive the software, there doesn’t seem to be anything at stake here – it is entirely risk-free to try out! If you like it and pay the one-time all-access fee of $97, the 60-day money-back guarantee is always backing. Before I sign off, a word of caution – always trade what you can risk losing, as the markets can swing at any time!