Athena EA Review: Things to Consider Before Investing

Athena EA

Athena EA is a Forex expert advisor that is compatible with the Metatrader 4 trading platform. According to the developer, the EA is capable of generating a profit of 8-25% on a monthly basis. They also claim that the system rarely has losing months and is able to keep the drawdown close to 30%.

The parent company behind this EA is known as Elite CurrenSea. It was launched in 2014 by Chris Svorcik, Nenad Kerkez, and Mykyta Barabanov. These individuals act as the CEO, the head trader, and the CMO, respectively. The headquarters of this company is located in Tallinn, Estonia. This team has another robot known as Zeus EA. The company has an average reputation among FX traders, according to third-party websites. 

The highlights of Athena EA

Here are some of the key features of this system:

Full control over capital

This robot does not freeze your capital. You can top up your account or withdraw profits whenever needed. 

Risk management 

There are several risk levels for this EA. By switching between levels, you can adjust the profitability factor for your trades.

Low minimum deposit 

For a cent account, you can get started with just $50. For the rental plan, the minimum is €4,000, while PAMM accounts require at least €400.

No previous experience required 

There are rental and managed account services available for this EA. As such, you don’t need to be an experienced trader in order to work with this robot. 

Trading strategy of Athena EA

This robot follows a grid-trading algorithm with a specific approach to take profit that aims to never close a day in loss. It trades price swings and price action and implements a classical equation for analyzing the market. For exits and targets, Athena EA uses oscillators and moving averages. 

The EA is only compatible with EUR/USD. For best results, you must use a minimum leverage of 500:1. It is also important to use an account with low spread, since the take profit is only 4 pips and the robot is extremely sensitive to spread. Also, you must find a broker that accepts hedging. 

Backtesting reports 

Unfortunately, there are no historical test results available for this EA. As such, we cannot determine whether the EA can generate long-term profits in different market conditions. Also, we cannot compare the backtesting results with the live statistics in order to get a clear picture of the profitability.

Trading results in real time 

Growth chart of Athena EA on Myfxbook
Growth chart of Athena EA on Myfxbook

This live trading account on Myfxbook was launched on January 07, 2021. To date, the EA has conducted 21,979 trades through this account, winning 72% of them. The win rate is incredibly high, and the profit factor is also quite satisfactory at 1.65. The total profit for this account currently stands at €17,484.41. 

Currently, the daily and monthly gains are 0.23% and 7.26%, respectively. The drawdown is quite high at 33.73%, and this is an indication of a high-risk trading strategy. At this moment, the time-weighted return for the account is 198.66%.

Trading results of Athena EA on Myfxbook
Trading results of Athena EA on Myfxbook

From recent trading history, we can see that the EA generates profits at a very slow rate. For the last 20 trades, the EA has used a lot size of 0.01-0.03. The average trade length is 5 hours and 16 minutes and the average win and loss are 6.43 pips/€2.80 and -17.96 pips/-€4.30, respectively. 

Athena EA price 

The rental plan has a recurring yearly fee of €799. For the lifetime plan, you need to make a one-time payment of €999, while the rental sponsored plan can be availed for €499. The managed account plan has zero upfront fees, but you need to pay a profit share of 25-35%. None of the plans are low-priced and there is no refund policy included.

Customer support 

You can contact the support team using the email address or through live chat.

Are traders happy with Athena EA?

User review for Elite CurrenSea on Forex Peace Army
User review for Elite CurrenSea on Forex Peace Army

There are no reviews for this EA, but a few of them can be found for Elite CurrenSea, the parent company. Users on Forex Peace Army have complained about the EAs suffering heavy losses.

Athena EA

Athena EA
2 5 0 1
Athena EA has a high win rate and is sold by a transparent company. However, the pricing plans are too expensive compared to the market average. The vendor does not have a money-back guarantee policy. Also, the EA trades with a high drawdown, which means it is prone to suffering heavy losses.
Athena EA has a high win rate and is sold by a transparent company. However, the pricing plans are too expensive compared to the market average. The vendor does not have a money-back guarantee policy. Also, the EA trades with a high drawdown, which means it is prone to suffering heavy losses.
2/5
Total Score
  • Profitability
    3/5 Neutral
  • Strategy
    2/5 Bad
  • Reliability
    2/5 Bad
  • Price
    2/5 Bad
  • Customer Testimonials
    2/5 Bad

Advantages

  • High win rate

Disadvantages

  • No refund policy
  • High drawdown
  • No backtesting results
Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts