At the time of writing this review, Bonnitta EA MT5 is ranked first among MQL5 expert advisors. In other words, it is the most purchased product in the Forex market. The cost of this trading bot has reached $5,750, and according to the statistics on this Forex forum, more than 15,000 users have downloaded the demo version for testing. The topic of this article is the Bonnitta EA MT5 review. Let’s try to answer the most important question – is it worth buying this expert advisor or better to stay away? So, let’s begin.
Profitability of Bonnitta EA MT5
Profitability in the Metatrader 5 strategy tester
Regarding the profitability of Bonnitta EA, we can see that this trading robot achieves astonishing results in the strategy tester. Using a starting deposit of $1,000, the Bonnitta expert advisor for the MT5 platform has earned over $3 million in just one and a half years. But we must remind you that this is only a strategy tester, which simulates the advisor’s trading on historical quotes.
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Profitability on a real account
As for the real account, the picture is completely different. From 2019 to 2023, this trading bot has achieved a profit of 708%. At this stage, we see a complete mismatch between the test results and the results of real trading.
Yes, Bonnitta EA MT5 can indeed generate good profits on a real account. But no, it’s not millions of dollars in one and a half years!
Initially, we can conclude that Bonnitta MT5 is not a scam. However, you should clearly understand that this advisor is not capable of earning as much as the author shows in the product’s promotional page.
Strategy of EA Bonnitta MT5
As for the trading strategy, it is a grid strategy that works in the direction of the trend. According to the statistics from the real account, Bonnitta bot trades on more than 15 currency pairs, but the most active trading is conducted on EURUSD, GBPUSD, EURCHF, NZDUSD, AUDUSD, USDCAD, USDJPY, and USDCHF.
The trading timeframe is H1, and it involves trading all recommended currency pairs on one chart.
The minimum deposit to start is $1,000.
The minimum leverage is 1:200.
And for those who believe in miracles, we can confidently say that it’s time to grow up and realize that all advisors that use grid strategies are very dangerous. EA Bonnitta MT5 belongs to such trading robots. If the quotes move in the wrong direction after entering a trade, Bonnitta MT5 EA will activate an averaging algorithm and add new orders until the price reverses in the desired direction. If the trend does reverse, then the advisor will make a profit, but if not, you will lose your capital.
The only advantage we see is that EA Bonnitta does not use a martingale algorithm, meaning it does not increase its initial lot size to recover from drawdowns. The averaging is done with the same lot size. Therefore, unlike advisors with martingale, Bonnitta EA MT5 will not kill your trading account as quickly.
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To buy or not to buy MT5 EA Bonnitta?
If you decide to purchase the Bonnitta MT5 EA advisor, you should be aware of the following pros and cons:
Cons:
- The results of the Bonnitta Forex bot in the strategy tester and on a real account differ significantly. Buying this advisor doesn’t mean you’ll become a millionaire in one year. That won’t happen!
- This advisor uses a risky price averaging strategy. Sooner or later, it will blow up your trading account!
- The cost of the Bonnitta MT5 advisor is $5750, which is a fairly high price that doesn’t correspond to profitability. The price increase is caused by hype surrounding this expert, not its high trading performance.
- This Forex expert advisor doesn’t use Stop Loss orders. This means your potential losses are not limited.
- This advisor requires a large leverage of 1:200 or more. Therefore, it is not suitable for buyers from the US and the EU, where the maximum leverage is no more than 1:50 (1:30 for some countries).
- To start trading with this advisor, a deposit of at least $1000 is required.
Pros:
- Bonnitta EA MT5 still generates profits, as confirmed by the monitoring conducted on a real account.
- It is a multicurrency trading robot that can work on multiple currency pairs simultaneously, diversifying your trading results and increasing profitability.
- It doesn’t use Martingale and cannot quickly blow up your trading account.
- Bonnitta EA MT5 is user-friendly and supports trading in a single window mode.
Opinion on Bonnitta EA MT5
So, objectively speaking, this Forex trading software makes money but uses a risky trading strategy that will eventually blow up your trading account. Additionally, the cost of this advisor is much higher compared to similar experts. We couldn’t find Bonnitta EA MT5 on MyFxbook monitoring, but there is enough monitoring on the MQL5 website to confidently say that it is risky and not very profitable. You can achieve 100-150% annual profit using averaging with other less expensive expert advisors. So, don’t rush to waste your money. Bonnitta EA MT5 is not a unique or super-profitable algorithm. It’s a typical grid of orders, of which there are many on the MQL5 market at lower prices.