The Nagachika Expert Advisor (EA) is a forex robot that trades three currency pairs and works on the Meta trader 4 (MT4) trading platform. It is based on the Ichimoku indicator which provides trading signals. According to the developers, Nagachika EA has a good trading algorithm and it earns steady profits. You can start with as little as $100. The vendors guarantee a 72% success rate. In a trading period of six months, it made 300% return on investment with a 10% drawdown. The price tag on this robot is $189 for a single licence in addition to free updates, full support and detailed instructions.
As good as this EA looks, should it be trusted?
Nagachika EA: To Trust or Not to Trust?
There are some key indications that this robot should not be trusted. Some of them are:
Trading Results
The website general outlook
Anonymous Vendors
User Testimonials
Trading Results
There are no back tests data available for the Nagachika EA. www.nagachiga.com presents two accounts from www.fxblue.com and www.fxstat.com.
The trading account from fxstat.com shows that the account was active from August 2016 to January 2017 while that of fxblue.com operated from August 2016 to May 2017.In both accounts, there are no trading activities since May 2017 till date (almost one year). Does this mean that the robot is no longer in active trading? Besides, most traders trust real verified accounts from third party verifiers only.
The Website General Outlook
If you go through www.nagachika.com, you will think that this is one big joke. Why? The website is a cheap, one-page, poorly designed site. The worst is the quality of the English Language written on the site. Comprehension is difficult as the grammar is horrible. This is grossly embarrassing and highly unprofessional. For a vendor that claims to be making huge money from forex, can’t they engage professional web designers and content creators with impeccable command of written English? They can’t be successful forex traders.
Anonymous Vendors
Forex traders are always sceptical and careful when dealing with anonymous vendors. Scammers are usually anonymous because they don’t want to be traced to any country or by any name. So, since Nagachika EA vendors are anonymous, there is a great limitation on the popularity of the forex EA since a few forex traders will be willing to take the risk of giving them a trial.
User Testimonials
There are no user testimonials for the Nagachika EA. Perhaps, it is because not many forex traders are willing to try out this EA. Other sites that review robots also do not have user testimonies on this robot.
CONCLUSION: Nagachika EA Is Not to be Trusted
The Nagachika EA claims to be a powerful and profit making robot. But, the vendor’s unprofessional attitude is worrisome. The website is ridiculous, cheap and full of wrong English grammatical expressions. Communication is incoherent and unconvincing. There is no verifiable evidence of forex trading using this robot and no current trading. Additionally, there are no user testimonials which would have validated or nullified the vendor’s claims. So, our advice is to avoid this robot.