EliteFxGo offers more than one forex robot. This review will be specifically about Elite Unlimited and how effective it can be. Elite Unlimited is a forex bot that strategically and automatically places trades for you. The EA (Export advisor) runs in the Meta trader 4 (MT4) platform. To set up no experience is needed and it can be done easily. The currency pair you want to trade can be decided and the software will use advanced calculations to make the best trade decisions according to the built-in trading algorithm that it uses.
How useful is Elite Unlimited?
EliteFxGo provides different features with each EA. Elite Unlimited provides all pairs trading EA, unlimited Licenses, and 24/7 support. Using their strategy that they’ve tested and optimised over historical data. The minimum account size is 2000$ for low-risk according to the developer. The account leverage required is 1:500 or above. However, you should alwasy only ever trade with what you feel comfortable with. There are also broker options where you can pay 500$ and use the EA with the brokers they are partner with. The good thing you are not only tied to the brokers they partner with. For 1000$ you can use the EA with any broker you chose. You have access to unlimited live accounts under your name.
The EliteFxGo EA comes with an easy to follow instruction guide that has multiple choices that allow you to set the targeted ROI and risk. You are not bound only to these settings and can adjust depending on your own need as every trader is different. EliteFxGo can inform you of different inputs that might be ideal for you if you contact them directly. Their support is 24/5 so you will have no problem reaching out. They are usually quite prompt to respond which is great.
Elite Unlimited results
I found it very useful that EliteFxGo has shared the results of their different EAs. All of the results are verified by Myfxbook. Their trading performance is verified by FxBlue and Myfxbook which is not something that all forex EA providers have, so it helps them stand out from the crowd. More details about their verification can be acquired if you contact them directly.
The following charts show the current trading performance of EA Unlimited. Other results from their different EAs are available on their website. It can be seen in these charts at the time of me writing this EliteFxGo review that there is low drawdown, steady returns, and a low-risk profile in my opinion. Of course, things can always change in trading, so make sure you check the latest results on the verified accounts to see how things have been going since.
What strategies are used in Elite Unlimited?
At EliteFx they claim that they’re trading each account manually and with EA using price action trading strategies. Different strategies are used some of these are :
- Volume spread analysis (VSA) is a strategy that looks for the difference between supply and demand. To be able to determine this difference three variables must be examined: the quantity of volume on a price bar, price variations, or the range (high and low), and the closing price. The Elite Unlimited gauges future price movement with great accuracy using this strategy.
- Trendline Analysis with this strategy Elite Unlimited tries to predict the market direction generally. Also, identify areas of support and resistance that can help forecast entry levels or help manage any risk.
- Horizontal Support/Resistance Levels are an important concept in technical analysis. Technical analysts make use of support and resistance levels to identify price points on a chart.
- Fibonacci Retracement Levels are very useful for EliteFxgo traders as they can alert them of a possible trend reversal, resistance area, or support area. Fibonacci retracements have many different percentages. The most popular are 61.8% and 38.2%.
Elite Unlimited Summary
Overall, the Elite Unlimited EA looks like it has potential, but for it to work well you must put in the right settings or you won’t see good results. The customer service is very good so getting that done won’t be that difficult. Another thing that the EliteFxGo EA can provide is more verified results so we can have a better visualization of how the strategies are effective. The results they have currently are good at the moment but a few more would be better and things can always change in the forex market.
I find it very interesting knowing that EliteFxGo trades each account manually alongside their EA which can help diversify the trading strategy and stay relevant in the dynamic currency pair market. There are some client testimonials which can be found on their website. In all, I would give the EliteFxGo EA a try at least on a demo account, but always take your time while adjusting the settings.
You can visit the Elitefxgo Website and get your copy today!
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.