As the name suggests, Mount Average EA is using the moving average indicator as their foundation. It’s clear that without this indicator, the robot wouldn’t exist. The robot is built based on a long-term trading approach, which is commendable. When it comes to their forex pairs, the robot is only dealing with EURUSD currency pairs. The system update was in March 2019, which says a lot about the vendor. Read this detailed mount average EA review and find out more.
About Mount Average EA
To get the product, one must use the MQL5 platform as the vendor has no homepage. From the look of things, this is the only product under his wing. The overall presentation is wanting and shows a lack of professionalism from the vendor. What is shocking with the platform is the high asking price. Most traders won’t go for an unproven product whose price is way beyond the normal market rate. It’s another area where we feel the vendor has failed in his quest to get user attention.
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Mount Average EA is, by far, a platform that has no proven profitability. Those that have already signed up are ruing the decision. Apart from being an unproven robot, the vendor is nowhere to be seen. We are unhappy with the way he presents the platform, even on the MQL5 platform. The platform is meant to give newbie developers a chance to dive into the market. Whoever is behind this platform has clearly taken advantage of the platform. And the results are shown in his comment and review section.
Assets covered by the robot
Forex currency pairs are what users find under this robot. The robot is unable to offer any other trading asset, which is at a disadvantage to users. Investors want to spread their trades with various trading instruments. The vendor should have made sure he offers a wide array of trading assets. With the Crypto trading world ever becoming more lucrative, crypto pairs are a welcome feature. Since the vendor uses only one major currency pair, not many traders will sign up.
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Jannik Dippon is the brains behind this platform and claims to be located in Europe. Users should note that there is no face to accompany the name on the MQL5 platform. It could mean that the vendor’s real name is not what he states. We have seen anonymous persons using random names to try and make a name for themselves. Once the platform fails, no one will be able to point the finger at them. And this is why we doubt this person as they don’t have any other trading product. Transparency is what newbies should aim at when creating these robots.
From the look of things, most of his users are a sad lot. The first comment we see on the MQL5 page shows a disgraceful comment on the platform. There are other similar comments which goes to show what members have been facing. In regards to positive feedback, they are few and wide. We also note that the vendor does not respond to these comments no matter which side they sway. It means that the vendor is not interested in communicating with his users. And that’s just bad PR.
Demo account available
The vendor has done a commendable thing by offering a demo account. Not most robot developers ever think of offering users a demo account. The problem with his demo account is that it doesn’t reflect real trading conditions. With the demo account, users are bound to make a profit with it. The demo account does not factor in major market conditions, which is a burst. Once users see they are making a killing, the next option is to buy the robot. And this is the biggest mistake they make; they trust demo accounts instead of real trading performance.
Features of Mount Average EA
When it comes to the available Timeframe, the robot is using the M15 frame. The strategy used is the moving average, and there’s only one currency pair. Users can buy the platform or rent it depending on their preference. No matter the option, this has to be the most expensive robot we’ve seen. The rent prices per month, and the entire license price is beyond the scope of the market. Not many robots are priced over the $250 mark; with this robot, the rate is almost double.
Is Mount Average EA Licensed or registered?
Mount Average EA is yet to give us any evidence of their regulatory status. With the developer claiming to be from Germany, we checked with the regulators in the state. BaFIN has no such robot regulated under any entity. And this goes to show that the vendor has no permit to offer any forex products or services. We still don’t know whether the vendor is a professional trader or a scam artist. These are the facts that users don’t check when buying a forex trading robot.
Without a valid trading license, it means we are dealing with a rogue trading platform. These vendors who come out of nowhere have some hidden agenda. Most of them want to steal your information and sell it to third parties. A few of them will come up with products that work for a while and later shut down. No warning will be sent to users that the vendor plans to pull down the robot. Imagine what happens when a new user purchases the robot, and the vendor pulls it down the next day.
Obstacles and Opportunities with Mount Average EA
Available asking price
Moving Average EA is selling at $490 as a one-time offer. When renting the robot, the vendor offers four available plans. These plans are listed as one, three, six, and a year. For the one month, users rent it at $45, three months, $105, and six months $190. The last plan is the yearly plan, which goes for $320. Users might think that this is a better option, but none of these plans are fair. The vendor is clearly taking advantage of investors by asking for a hefty sum. It’s not in the best interest of the online trading world.
Contact and support
To reach out to the vendor, one must leave a direct comment. And this is where we find fault with the developer as he fails to respond. One user by the name of Ian79 has been asking for answers for over one year. The developer had failed to show up, which points to a scam platform. Any developer who shows no interest in their platform is not a genuine person. Investors should do away with their products.
Results and trading performance of Mount Average EA
When it comes to their trading performance, this is where matters get interesting. Even with the platform on such a respectable system, the vendor fails to offer valid trading results. One expects the vendor to offer their trading performance on myfxbook. The problem with this is that we can’t trust any charts the vendor offers. He has, however, provided an MQL5 Signal account, which shows their performance. With the update dating back to 2019, we can’t trust this chart.
Scam or legit Mount Average EA
Mount Average EA is a scam, and there’s no doubt about it. The vendor is completely anonymous and has no trading experience. These are the main reasons why we have to flag the platform down.
We won’t be recommending a platform that is overpriced and has no trading records.
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Our entire team wishes everyone a happy and prosperous trading experience.
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