How can I tell if an Expert Advisor is a scam?
I found an EA that shows 300% monthly profit. It looks too good to be true. What should I check?
For education only. This is not financial advice. Trading carries a high risk of loss.
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2 Answers
Best answer
Warning signs:
- Guaranteed or fixed returns, "no losing trades", or huge monthly profits
- Only back-test screenshots, with no live track record on an independent site
- Hidden martingale or grid, shown by sudden large drawdowns in the history
- No refund policy, fake reviews or pressure like "only 3 licenses left"
What to do: ask for a verified live track record of at least several months, forward-test on a demo or small cent account, and read independent reviews. A good vendor explains the strategy, the risk and the drawdown honestly.
2 replies
Marcus LindqvistAnswer author1 day ago
At least two to three months, across different market conditions. Longer is better, and even then start with a small size.
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If a seller shows a Myfxbook or similar link, check that it is a real account with a verified connection, not a demo, and look at the drawdown and the length of the history.
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