Elm EA elm-ea.com Review
Technical specifications of the ELM EA robot
The ELM EA bot belongs to the category of cross-platform trading programs. The robot is fully automated, which greatly simplifies the management process for users. The program allows you to make one trade at a time, using only safe strategies. You will not find “Martingale algorithms” and other risky approaches here. That’s why I think the bot is great for beginners who are least willing to risk their money. Among the main features of the ELM EA are the following:
- Risk settings make the size of each next lot always the same (regardless of the result of the previous one);
- the broker always sees the virtual and real TP and SL that the algorithm applies;
- The transactions are allowed to enter even with a balance of $ 10, thanks to the clever money management system;
- even with low leverage, because the trading strategy is suitable for small margins.
The ELM EA bot can only be tested in real time. The function of the test run on the history was originally excluded by the developers. However, I can call this feature rather an advantage. Yes, it takes much longer to test in real time. But in the end, the test run shows more accurate results than any test run based on the history. So, you will be sure of the profit that you will eventually make.
Using the ELM EA, you can work with 26 currency pairs. The exact number depends on which version of the program you will be using. The Optimum package gives access to only six currency pairs, while the Pro version allows you to work with all twenty-six.
What profit can be made by using the ELM EA bot
If you use the standard settings of the program, you can get about 20-25% profit from online transactions. This is on the assumption that the leverage is 1:500. If you wish, you will be able to change the settings to more aggressive. In this case it will be possible to get more profit. However, it should not be forgotten that the risks will increase (so it is better not to use such a strategy for beginners).
ELM EA safety parameters
The program contains a special feature that allows you to disable trading in several cases:
- at slippage;
- in the case of very slow execution.
The owner of the bot can set it to a certain speed. Then, in the case of slowdown, participation in trading will also be automatically suspended. In addition, the bot is deactivated if several trades in a row brought the trader losses. This feature is very useful because it does not leave the possibility of losing the deposit, even for beginners.
Important: ELM EA users are given a chance to configure the program so as to limit the level of potential financial losses. Additionally, the developers have added to the bot an algorithm for protection against manipulation by brokers and unforeseen situations in the market. Therefore, I can confidently say that the security settings of the robot reduce the probable risks of Forex trading to minimum values.
Currency pairs in the ELM EA bot
All 26 currency pairs available to the owners of the trading robot are presented in the table below.
If desired, the user can use all 26 currency pairs at once. However, I advise to start with options with a spread of less than 2.5, temporarily excluding all the others. This way it will be possible to make the strategy more profitable. It is also important to remember that to work with currency pairs, you will need to free up memory on your computer. For example, if you want to use all available options, you will need at least 1 GB of free space on a VPS server.
Which brokers are worth working with
Below I will present a list of brokers that are suitable for ELM EA bot owners. However, it is worth remembering that each trader may have his own preferences. So when choosing a broker, you should be guided not only by recommendations, but also by personal experience. The developers who created the bot are of the same opinion. It is no coincidence that the official website of the program does not contain links to any broker. Apparently, the creators of ELM EA are not interested in customers working with a specific person. For them it is much more important to make profit, which the bot brings directly to the trader.
Among the brokers that are best suited to work with the robot, it is worth mentioning:
- Tickmill (with Pro or VIP accounts);
- Hanko trade;
- NDDFX (with a Dma account);
- FBS (with Ecn account).
My review would not be complete without mentioning the brokers that are the worst fit for the ELM EA bot. Such companies include:
- IcMarkets (if trading on the MT5 platform);
ELM EA bot license
You can purchase a license to use the trading robot directly on the forum created for communication of the company’s clients. The platform is used to discuss the most common questions and problems. After purchase the bot will not be tied to the identity of the account owner, account number or broker. The only limitation is the impossibility to use more than ten trading accounts simultaneously. This makes the bot especially convenient for traders: in fact, they can work on a free basis without worrying about formalities.
First-time buyers of the ELM EA program are offered two license options: for 3 or 10 trading accounts. If the trader wants to activate one more account, he/she is able to do so as well. All you need to do is to disable one of the existing accounts and replace it with the desired one. In this way, it is possible to bypass the only restriction imposed by the creators of the bot.
The program ELM EA can rightfully be called one of the most relevant and convenient trading robots for Forex traders. The bot is suitable for MT4 and MT5 platforms. The main advantages of the ELM EA:
- balanced strategy;
- prompt support service;
- A friendly community of traders, where you can always get help;
- strict rules for conducting transactions using algorithms.
Among the disadvantages of the program I can only name the high price of the bot, which is not always affordable to ordinary traders. However, the developers offer to pay for real benefits, so the complex product is worth it. After all, users get a ready-made trading strategy that is guaranteed to work on real trades. To prove their honesty, the creators of the bot are even willing to share their own investment passwords and accounts with clients.
Hello all! Thanks to this article a couple of months ago, I learned about the ELM bot, tested the demo version and have been working on a real account with NDDFX broker for 2 weeks now. The result is great, I think I will open another account with Tickmill and FBS, because these brokers showed good results with the demo version.
We work with this algorithm on client accounts from $50,000 and above for the second month, without worrying about the deposit. ELM is worthy of respect and differs from one-day bots. With best wishes Arthur!
I have this algorithm in my arsenal for more than 1 year, and I can say that it is one of the best developments for working in the market now. Great functionality, allows you to adjust almost any broker (I recommend using MT5 when working with this bot).
I want to thank you for the rest of your article, it was interesting to read it. Will there be more, about other bots?