Einstein Trader EA Review

In this post I will be reviewing the Einstein Trader forex robot. It trades on 2 of the most major currency pairs the EURUSD & GBPUSD which will tend to have plenty of liquidity and tight spreads, especially on an ECN forex broker. As with most forex robots, the Einstein Trader robot runs in the free to download MetaTrader 4 trading platform. In this Einstein Trader review we will take a look the trading strategy that it uses along with the backtests and most importantly, any verified results. Hopefully this will help you to decide if the Einstein Trader EA is something that you would consider using on your forex trading account.

Einstein Trader EA Trading Strategy

The Einstein Trader forex robot trades almost every day which gives a good frequency of trades for you traders who like a lot of action. However, that does mean that you will need to keep paying the spread and any commission fee which will increase trading costs when compared to holding trades for the mid to long-term.

The developers claim that there is a special unique formula behind the strategy which they dub the “Einstein Formula”. This is another fancy name for using a combination of indicators and price analysis to determine entry and exit prices. It trades on the 1 minute charts with some safety filters built in.

The Einstein Trader was originally a manual forex trading system. Some manual system creators will not release automated version which can be due to the fact they know they do not work long term but then again it can also be due to the fact a forex robot can sometime miss that “human element” that some traders prefer provided that they have the time and knowledge to trade manually.

The developer has made all of the Einstein Trader robot settings externally available which means that you can adjust them via the inputs window when you attach this robot to the charts in your trading platform. You can always just use the default settings provided by the developer that have already been optimised but you should always check to make sure that the lot or risk size is set to a suitable level for your risk preferences as every trader is different in that respect.

For those of you who have the experience, you are free to experiment with the Einstein Trader settings to develop your own bespoke set files. I would use the MT4 strategy tester to backtest the software across different currency pairs and chart timeframes to discover unique combination of settings that match my trading style and goals. There are recommend currency pairs to use but that does not mean you cannot run it on other financial instruments. However, if you do wish to experiment with the Einstein Trader software, then you may want to do so on a demo account to begin with and see how things go.

Einstein Trader EA Back Testing

There are back tests on the Einstein Trader website covering almost 5 years with modelling quality at 99% so the best possible back testing conditions. It is not clear if they used real variable spreads, swaps, slippage and commissions in testing. These factors can have a major impact on results, especially for a trading robot that trades as frequently as this one which can require tight spreads. I therefore think that the developer could make improvements in this area by either clarifying whether they have accounted for these factors are to republish new Einstein Trader backtests that do. I also feel like they could update the backtests to see how the EA performed over a longer period of time across more currency pairs and chart timeframes.

Einstein Trader EA Live Results

The robot developer has shared a verified Myfxbook account showing some Einstein Trader results. However, the trading account has not been updated for a few years now which is very disappointing. This means that we have no way to see how the Einstein Trader expert advisor has been performing in recent market conditions which have changed significantly since the account was last updated. I think there is plenty of room for improvement here, even the results are showing high drawdowns which makes me believe the money management of the EA could also be improved. If you are looking for a forex robot that has verified results, then you may want to consider the Forex Flex EA as an alternative option instead. To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.


Einstein Trader EA Summary

Overall, the Einstein Trader developers have clearly put a lot of time and effort into the Einstein Trader. It is a high frequency forex robot that trades the major currency pairs. It is suitable for any level of trader and includes detailed instructions so even the most novice of traders can be setup and running with the Einstein Trader in just 5 minutes. It also comes with full dedicated support, free updates and a 60-day money back guarantee.

However, there is much room for improvements, specifically the verified Einstein Trader account needs to be updated. The risk to reward ratio of the expert advisor should also be improved to help avoid such high drawdowns. I think that this software would work better on a broker with suitable trading conditions as it seems quite sensitive to spreads. IC Markets are one of my top forex brokers for running automated forex trading robots. This is because they are an ECN broker with lots of liquidity which means that you can trade with tight spreads, low commission fees and rapid trade execution speeds at the best available prices.

You could always try it on a demo account to see if the results live up to your expectations. Otherwise, please feel free to browse my forex robot reviews for some alternative options. I think there are better forex robots out there which have up to date results and more comprehensive backtests for you to get a better idea of how they trade and what you might expect.

Einstein Trader EA

$497
5.7

Strategy

5.0/10

Backtesting

7.0/10

Results

5.0/10

Pros

  • Multiple Currency Pairs
  • Customisable Settings
  • Any Forex Broker
  • Verified Results Provided
  • Full Support
  • Detailed Instructions
  • 60 Day Money Back Guarantee
  • Fully Automated Forex System
  • Backtests Available
  • Lifetime Updates

Cons

  • MetaTrader 4 Only
  • Results Not Updated
  • Broker Sensitive
  • Requires Tight Spreads
  • Requires Low Commission Fees
  • Potentially High Drawdowns
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