Cairo works on the MT4 and MT5 platforms and usually opens multiple trades per week. The algorithm uses smart recovery or averaging and has 99% profitability in the backtest as claimed by the developer. The vendor convinces us that the system does not apply Martingale. The robot comes with various configurable settings that allow users to adjust the stop loss, take profit, and max lot per trade. To check the EA’s compatibility, performance, and transparency, we will go through its historical data, live records, company profile, price, and customer reviews.
What is Cairo?
Although the algorithm works best on the EURUSD currency pair, users can test and experiment it other currencies. Traders can use any timeframe chart, and the recommended broker is VantageFX. The robot trades on a real account and requires leverage of 1:2000, as seen on Myfxbook.
The EA key characteristics are as follows:
- A free demo is available
- It comes with multiple settings such as trade comment, dynamic lot, etc.
- The algorithm allows trading on any timeframe chart
- Uses a magic number to open and manage trades
Official Cairo website
Ruben Octavio Gonzalez Aviles is the CEO at Rubengaviles and the product developer. The seller is from Switzerland and owns multiple robots available for sale, including Berlin and Kyoto. She has an overall rating of 2.7 based on 37 reviews on the MQL5 forum.
How can we use Cairo?
Following steps should be flowed to get along with the system:
- Click on the ‘buy’ option available on the MQL 5 website
- Sign in to MetaTrader 4/5 platform
- Bring the algorithm to the expert directory and refresh the panel
- Link the robot with the chart and you are good to go
Pricing & refund
The algorithm comes with both buying and renting options. Traders can rent the robot for one month at $249, and a one-time purchase is available at $399. The vendor provides no information on the money-back guarantee on the website.
According to the developer, there are no martingale or grid strategies involved within the expert advisor. Each trade comes with a fixed stop loss and take profit. Traders are advised to trade with the default settings of the robot.
The history on Myfxbook records shows us that the system is using virtual stop loss and take profits. The risk-reward ratio is poor for trading as the wins are small at 5 pips while the losses can mount up to 75 pips.
The robot backtesting records are available in pictures, which raises questions about its reliability. The stat shows that the initial deposit was $500, where the system managed to produce $10412. The total net profit was $10412.40 with a profit factor of 897.62. The win rate was nearly 100%, with a sharpe ratio of 0.88. While the stats seem impressive, it is hard to trust them as the values of risk-reward, and winning rate is staggeringly high.
The live records on Myfxbook are available for a short duration from April 2021 till May 2021. The overall gain of the account is horrendous at -44.42%, and the drawdown value of the robot is 50.25% showing a huge loss of funds. In 13 trades, 77% were profitable with a profit factor of 1.94, which goes against the figures we observed within the backtesting report.
What customers say
The bot has a rating of 2.77 for 28 reviews on the MQL5 website. One trader comments that the algorithm is awful.
Another user states that he used the robot for more than three months and was not satisfied with its performance. He further adds the stop loss is too high and the take profit is too low, which can cause a sudden loss of investment.
Summary: is Cairo a trustworthy EACairo
Trading Results2/5 Bad
- No grid and martingale involved
- Poor customer reviews on MQL5
- High drawdown value as seen on Myfxbook
- No money-back guarantee