Promex EA Review: MT4 vs MT5, Tests and Account Risk Controls
Promex looks for Forex price deviations and trades the expected return toward normal levels, combining short trailing exits with news filtering and an account-wide Prop Controller.
Our assessment: A configurable Forex reversal system with useful account-level controls. The decisive checks are exposure across the whole account and realistic testing; a high win rate alone does not establish a favourable loss profile.
View Promex MT5 and pricing · View the MT4 edition
- Developer source link: Promex on MQL5
- Live signal link: No current product-specific public account verified; the review explains the historical demo image.
Mean reversion with asymmetric outcomes
Promex seeks a reversal after an unusually strong price deviation. Its short trailing exit can collect small gains, while the initial stop handles failures. The developer’s advertised accuracy is not an independently established probability. Win rate needs to be read alongside average win, average loss and costs, because one large loss can offset many small winners.
The Prop Controller operates across the account
The developer specifies ECN/RAW execution, leverage of at least 1:30 and a minimum starting balance of $100. EURUSD, GBPUSD, AUDUSD and USDJPY settings are described as available privately. The Prop Controller can close every trade on the account, including positions belonging to other EAs; configure it with the whole account in mind.
Daily and total drawdown thresholds and a profit target can trigger closure of all account trades. That includes unrelated strategies. The developer’s suggested buffers below prop limits are examples, not universal rules or guaranteed protection from slippage. Confirm your provider’s current restrictions independently; the branding does not establish acceptance by every firm.
Historical test: read beyond the headline
The supplied EURUSD M15 report covers January 2022 to October 2023 and shows 90% modelling quality. It reports a roughly 95.95% win rate, but an average loss of about $1,260 against an average win near $103. That illustrates why accuracy alone is insufficient. The report is a developer simulation in an MT4-style tester, not proof of current MT5 execution.
The old signal image is a demo account
The four-week graphic explicitly identifies Alpari-MT5-Demo. Its 22% return, 7.7% maximum drawdown and 94.4% maximum deposit load belong to that historical snapshot. They are not a current live-money track record. We did not verify a current Promex-specific public signal during this check.
News filtering changes the test/live comparison
The gallery combines a 2022–2023 Strategy Tester report with an old four-week Alpari MT5 demo-account image. Neither is current live-money verification. The news filter is inactive in the Strategy Tester, so historical tests cannot reproduce its live filtering behaviour.
The original feature graphic claims that live trading will be better because the news filter is absent from the tester. That conclusion does not follow automatically: filtering can remove winners as well as losers, and execution adds other differences. Use the graphic as an explanation of intended functions, not a performance promise.
Customer opinions and the review incentive
The visible November 2023 MT5 feedback describes two weeks of use and responsive support. The January 2024 MT4 comment concerns a very short demo test. Both are limited observations. The listing also offers a bonus manual trading panel after a customer leaves a review and contacts the author; that incentive is relevant when weighing ratings. It does not prove a review is false, but the bonus is not evidence of trading quality.
Read Promex MT5 feedback · Read Promex MT4 feedback. No third-party ratings are imported as CheaperForex purchase reviews.
MT4 and MT5 are separate editions
The shared strategy description does not make their executables interchangeable. Use the matching platform file and test that edition on your broker’s data. The old MT4-style simulation and MT5 demo graphic are deliberately labelled separately, rather than presented as one continuous verified performance record.
Who should consider it?
A configurable Forex reversal system with useful account-level controls. The decisive checks are exposure across the whole account and realistic testing; a high win rate alone does not establish a favourable loss profile.
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