News Scope EA Review: This EA is a Forex robot developed and marketed by FX automater, which is headed be Lachezar Krastev. Today we will be reviewing News scope EA to ascertain if the service this vendor is offering is worth the purchase. Read through our review to see what experts have to say about the Forex trading software.
What Are Forex EAs, Signals or Indicators?
An expert advisor (EA) is software that directs and guide you on what trades to make or pass on, it even automatically initiates and carries out trades according to a set of already programmed instructions. Expert advisors are most often deployed on the MT4 or MT5 forex trading platforms.
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We cannot overstate the advantages and usefulness of Expert advisor. Among the many advantages is the slight learning curve involved in using the Expert Advisor. That is to say, you need little learning to use an EA as the trades are being carried out by a set of instructions already made by an expert. Another advantage is that it can consider a lot of variables that humans may not have the time or potential to handle.
It is normal and not out of character for a Forex EA vendor or signal providers to lay claims to their product being a sure-fire way for you to get richer (it’s mostly just marketing.). This is because anyone who is looking for a signal provider is searching for a hassle-free way to make some profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit vendors at the bottom of this article.
News Scope EA Review
News Scope EA was developed by the FX automater team. Ft automater on their website lays claim to having more than 30 forex robots in their arsenal.
FX automater on their website claims to have been in the business for more than 15+ years and more than 10000+ happy clients.
On opening the website, we found it to be professionally designed with simplicity in mind. According to the team behind this EA, they claim that their products is designed for traders who prefer trading during high impact news. .
How News Scope Works
In this section, we cover the strategy and methodology the EA works. We also take a look at the trade result if any is provided. For the trade results we hold results that are posted on myfxbook to be standard but we also consider fxblue and other alternatives.
This EA works on the MT4 Platform, it works on multiple currency pairs: AUD/USD,EUR/USD, GBP/USD, USD/CAD, USD/JPY
As mentioned above, this EA uses high impact news to its advantage. When news occurs and the market spikes in either one of two directions, this EA takes advantage of the short term scalping opportunities that appear. The EA can pick up anything from 20 to 100 pips in mere seconds.
Thus, this EA seems to employ a kind of high impact news scalping strategy. It takes advantage of quick swings in the market, to take advantage of easy profits. This seems odd considering the nature of the market. Scalping is usually associated with more ranging conditions. The webpage also suggests that the strategy comes with an in-built money management system, a trailing stop, and an advanced news filter.
The EA seems to highlight the Advanced News Filter that it provides. It claims that it allows the EA to place pending orders at the right moment. They have also explained their time management system, which allows News Scope EA Pro to be precisely configured to place orders during specific hours and minutes. This function allows the trader to target the best movements to lace a pending order.
News Scope EA Price
According to the sales page, this EA is available for a price of $117
Customer Support
They provide a contact form for any communication.
Client Feedback
Customer feedback is a vital instrument for us to offer up a quantitative review and analysis of an EA. We mostly consider feedback a third-party site as we have found that reviews on the official page might be manipulated, concocted or paid for.
We couldn’t find enough reviews by paying customers to come a decisive conclusion about this particular EA.
Conclusion
After going through all aspects of this EA, we are not satisfied with gaps between what it promises and what it delivers.
Due to lack of feedback we couldn’t gauge the overall satisfaction of the customers.
This EA although not on the high side, is very vague about an important part of its operation, its strategy. And as such we won’t be recommending the use today as we aren’t sure of its efficiency for that price range
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