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Athena EA Review: Is It a Reliable ATS?

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Athena EA

Athena EA promises an average monthly gain of 8-25% and explosive account growth on MT4. The vendor also claims that the robot provides 220% yearly returns based on average past performance while keeping the drawdown close to 30%.

The parent company behind this system is known as Elite CurrenSea. It is a company based in Tallinn, Estonia, that was founded by Chris Svorcik, Nenad Kerkez, and Mykyta Barabanov in 2014. These three individuals function as the CEO, Head Trader, and CMO, respectively. This team has another robot known as Zeus EA and a signals service called ecs.LIVE.

This robot gives you full control over your capital. You can withdraw profits and add funds to your account whenever you wish. It is possible to increase or decrease the profitability factor by adjusting the risk levels. You have the option of adding a VPS and you can also let the platform manage your trades for you.

This is a system based on technical analysis. It has two robots working in tandem, one conducting short trades and the other dealing in long trades. Based on the balance, the EAs can run simultaneously on multiple charts with different timeframes.

The minimum amount for this EA is 500:1, and the vendor warns against using less leverage. Since the system has a TP of just 4 pips, it is spread-sensitive. As such, you should use an account with zero or low spread. Also, it is mandatory to sign up with a broker that supports hedging. For cent accounts, you can get started with just $50. For rental, the minimum balance is €4,000, and for PAMM accounts it is only €400.

Trading strategies and currency pairs

Athena EA is only compatible with the EUR/USD pair. It follows a grid-trading algorithm with a special take profit approach. It trades price swings and price action by implementing a classical mathematical equation. For profit targets and exits, it uses moving averages and oscillators.

Unfortunately, the vendor has not shared the backtesting results for this expert advisor. Therefore, we don’t have an idea about its long-term performance. Also, we cannot compare the past and live performances to get a clearer picture of the profitability.

Athena EA trading statistics

Growth chart of Athena EA on Myfxbook

Growth chart of Athena EA on Myfxbook

This live trading account has been active since January 2021. To date, the robot has conducted 21,851 trades through this account. It has a high win rate of 72% and this has allowed it to generate a substantial profit of €17,392.06.

Currently, the daily and monthly gains for this account are quite decent at 0.23% and 7.25%, respectively. The drawdown of 33.73% is a bit higher than the dev promised. This account has a time-weighted return of 193.65% and a satisfactory profit factor of 1.65.

Trading results of Athena EA on Myfxbook

Trading results of Athena EA on Myfxbook

By analyzing the recent trading history, we can see that the EA generates profits at a very slow rate. It places multiple trades on a daily basis, generating small profits for each. For the last 20 trades, the robot has used a lot size of 0.01-0.04. The average holding time for each order is 5 hours and 16 minutes. The average win and loss for this account are 6.43 pips/€2.81 and -17.97 pips/-€4.31, respectively.

Pricing and refund

There are four plans for this EA. The rental plan carries a yearly recurring fee of €799, while the lifetime plan has a one-time fee of €999. With the rental sponsored plan, you can enjoy quick onboarding and no capital limits for a yearly recurring fee of €499.

Finally, there is a managed account plan that carries zero upfront fees. However, it requires you to pay 25-35% of your profit and you need to open an account with the Key to Markets brokerage. None of the plans are cheap by any standards and the vendor does not have a refund policy in place.

What else you should know about Athena EA?

Negative user review for Elite CurrenSea on Trustpilot

Negative user review for Elite CurrenSea on Trustpilot

There are no reviews for this EA on the web. However, on Trustpilot, we came across some reviews for Elite CurrenSea. Users have complained about the bots not performing as promised.

Athena EA Conclusion

4.6

Athena EA has a high win rate, but the pricing plans are much more expensive compared to other robots. The developer has not shared the backtesting results for this EA and it trades with an unfixed lot size, which is an indication of a high-risk strategy.

  • Price – 4/10
  • Strategy – 5/10
  • Trading Results – 6/10
  • Vendor Transparency – 5/10
  • Customer Reviews – 4/10
  • Support – 4/10

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