New Hope EA Review
New Hope EA is a forex robot owned and operated by New Hope Inc Ltd, located at International House, 24 Holborn Viaduct, London, United Kingdom, EC1A 2BN. Included in their product catalog are EAs, Softwares, VPS and IT engineering services. Their sales page claims that they develop the best Forex EA.
According to them, the New Hope EA is a high-profiting robot that provides opportunity in the financial market. On top of this, they said that the New Hope EA is programmed by professionals experts with a great mathematical background.
Their sales page features 3 expert advisor systems that are cost well above industry average – NH Bull (from $2000), NH Black Swan (from $15000) and NH Fix API (from $15,000).
This is far greater than the industry recommended price range as you can see in the robots I recommend here. With just $200, you will get a top performing Forex robot with verified results on this page. Some of the robots here are free but allows you to partner with their recommended broker.
Therefore, before you consider purchasing a package of New Hope EA, consider reading this review first.
New Hope EA Review
The New Hope EA developers do not even have the courtesy of introducing who they are or where they’re running this business from.
They try to avoid this important aspect by telling us so much information about their software evolution instead of unmasking who they are and their practical trading experience.
Therefore the developer fails terribly in transparency and experience in the community.
New Hope EA Strategy
During our reviews of New Hope EA, we saw that the company did provide in-depth details about their expert advisor algorithm. According to their story, an automated trading system was developed on an arbitration model of work thanks to many years of experience in trading in financial markets and a lot of research.
This kind of information is not enough considering that the EA is priced very much above its peers. Individual Forex robot strategy description was not also helpful as you cannot see important details on trading approach and how the robot identifies an opportunity in the financial market.
Despite some few shortcomings observed in our reviews of Good Robot and Auvoria Prime, you will notice that their vendors provided much more details on trading approach and software algorithm.
With such poor trading insight, I wouldn’t buy a license of this EA even if it cost below $100.
New Hope EA Result
Considering that the New Hope EA is looking more like an overpriced product, we are very interested in seeing what their performance result holds.
What we have here are myfxbook result screenshots of accounts hosted at various brokerages.
The figures displayed on the screenshots are looking quite impressive but there are no links to actual myfxbook.com result page. This raises a very big red flag.
Some of the result screenshots are dated ”Yesterday” but that could be any day from when this account was opened. It is just a downloaded screenshot and does not synchronize with real life time feed.
We can conclude that this EA vendor is not updating their results on myfxbook.com, and this is the exact reason why New Hope EA vendor is a bit shy to provide a direct link to myfxbook.com.
Conclusion
As it stands, we are not going by the New Hope EA results on their sales page. Traders need a direct link to myfxbook.com to verify the actual software performance dates and statistics.
We don’t see why this vendor should show us their result screenshot without a link to myfxbook.com. Who knows, the developer might have stopped trading with these robots currently.
Thank you for reading our New Hope EA review. As it stands, the robot is far from being recommended because there are many loopholes to fill up.
We can’t tolerate any foul play, lack of transparency and poor strategy insight from an EA that is priced at such a high cost.
The people behind New Hope EA should consider bringing down the robot price to the industry standard before we even think of revising this review for a recommendation
New Hope EA Review (newhope.uk.com)
New Hope EA is an expert advisor development team with high priced products ranging from $2000 to $15000. They currently sell five different trading products and believe that by offering a wide range of systems that they can hit on different trading algorithms. Today we will be providing a complete review and letting you know if these systems are viable, or overpriced.
The New Hope Inc LTD. headquarters are located at International House, 24 Holborn Viaduct, London, United Kingdom, EC1A 2BN. They’ve been selling their systems since 2018, but aren’t very clear about their identities. They provide interesting insight in their mission statement, but don’t offer much transparency when it comes to their team members. Ideally, we would like to know much more about who is behind this service, and have some sort of proven trading history to support this data.
To get in touch with support traders can email support@newhope.uk.com or phone +44 7418 35 06 01.
New Hope EA Review
The main purpose of the New Hope EA is to give their clients “the opportunity to trade in financial markets using high-profit trading robots.” They believe this is possible due to six reasons that set them apart from their competitors. Here are those reasons:
- The robots allow traders to work with minimum risk.
- Each system utilizes complex market beating algorithms.
- The EA’s are updated often as they focus heavily on innovation.
- They have an active support team.
- They are beginner friendly.
- Their support team is personalized.
You will see most, if not all of these aspects touted by just about every developer that claims to provide the best Forex robot in the market. So, while we appreciate that they are offering this information, it doesn’t exactly set them apart. It’s really what you expect to see from just about every vendor in the market.
Strategy
The main three New Hope EA’s are the NH FIX API, NH Black Swan and NH Bull. There are many other options available as well, and a handful of products that appear to be “out of stock.”
In terms of strategy, the developers don’t really provide the amount of detail we expect. Considering the high price, we are a bit surprised that they only offer up a few sentences about each product, and none of them are about the trading strategy.
When charging upwards of $15,000, there should be a very clear analysis of the service. We’ve seen better explanations by much cheaper products, as you can see in our recent reviews of Your Algo, Good Robot and Auvoria Prime.
Analysis
- Type: Forex Robot
- Established: 2018
- Price: $2000-$15000
- Strategy: Undisclosed
- Pairs: Many
As we’ve already made quite clear, the New Hope EA service is very expensive. They are selling their systems at a price that’s 10-80x higher than our favorite robots in this market. The main products they sell consist of the NH Bull, going for $2000, the NH Black Swan, going for $15000, and the NH FIX API, going for $15000.
These prices are incredibly high, and aren’t in line with the rest of the marketplace. Most Forex robots range from $100-$300, so you can see this is quite the leap.
Client Feedback
The only client feedback we have come across so far is from Raytonic, a trader who claims to have lost $3000 because the developers would not provide a refund. He tells the community that in 8 weeks he hasn’t seen any profits, and that the vendor is blaming him for the lack of result even though they set it up for him on his VPS.
We don’t know the full story, but we’ve contacted Raytonic to learn more.
Trading Results
The New Hope EA team has a cluttered Myfxbook profile with 25 different trading accounts. While the accounts show some large gains, a closer look shows that none of them have traded in 2020.
None of the accounts provided are verified, and each one of them shows a very small sample size, where they suddenly stop trading after a couple of weeks or months.
The most recent account provided is for their NH Inside EA, and it’s showing a gain of 182% with a drawdown of 40%. This account is not verified, and stopped trading in late July, 2019. This system trades 5 different assets and has an average trade length of just over 10 hours. The risk reward ratio is around 1:1.4 with the average win coming in at 1986 pips and average loss at 1300 pips. These are huge numbers which means this software is really trying to trade big market swings.
As it stands, we would like to see active trading results that are verified and go on for more than just a few weeks at a time.
Conclusion
We don’t doubt that the New Hope EA service is professional, but we can’t recommend that clients sign up at this point in time. There are too many boxes unchecked, and honestly, even if they ticked every box, we’d still find it hard to recommend given the exorbitant price tag.
We believe the developer should lower the price, provide more strategy insight, and give us long term trading results. When they do, we will change our ratings.
Thanks for reading and leave your comments below the article now.
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