Pow Banker EA Review – A Powerful Automated Trading Tool
The Pow Banker EA is an automated trading system designed specifically for the MetaTrader 5 (MT5) platform. Developed by Darren Hill and his team at Progress Overcome Win (POW), it aims to help traders consistently profit and pass prop firm challenges.
I analyzed the publicly available information about this expert advisor (EA) to provide an unbiased and comprehensive review. Here is what I found:
Overview of Key Features
The Pow Banker EA comes packed with useful features for traders:
- Fully automated algorithmic trading – Scans charts 24/5 for trading opportunities based on its built-in strategy. Requires no manual intervention once properly configured.
- Multiple trading strategies – Uses hedging, averaging, martingale, trend following and reversal strategies for versatility across market conditions.
- Risk management – Equity stop loss, max lot size limits, and other protections aim to preserve capital.
- Prop firm challenge focus – Configurable to align with typical prop trading rules and optimized to achieve high pass rates.
- Video course access – Video library covers EA installation, optimization, and usage to accelerate learning.
- Active community – Discord server offers settings advice, video Q&As, camaraderie with 2,300+ members.
The vendor provides trading statistics across various time frames showing consistent profitability.
However, key details are lacking, preventing full independent verification. There are no account statements or third-party validation of the results.
The developer claims real-trader results with an average 74% pass rate on prop firm challenges. But these lack specifics on number of traders, exact pass requirements, etc.
So while results look promising, traders should exercise caution without verified performance. Competitors like [redacted] publish fully transparent audited trading histories.
Strategies and Logic
The core approach combines hedging long and short positions to profit from market moves in either direction. It then averages into winning trades while managing losing ones.
Default settings use a martingale method where position sizes increase to recover losses. This can generate outsized returns but also heavy drawdowns if unchecked. Proper configuration and risk controls are critical.
Multiple included strategy sets provide flexibility – from breakout trend following to mean reversion and momentum. This adaptability allows customization across assets and market conditions.
Ease of Use
The vendor emphasizes simplicity in their marketing. However, user reviews suggest the initial learning curve can prove challenging.
Changing settings without sufficient understanding carries risks. It takes time studying the documentation and community knowledge base to optimize configurations.
That said, once properly set up based on clear guidance, the EA can run fully automated with minimal input needed. If willing to invest the effort upfront, usability is excellent.
At the time of writing, pricing is tiered based on contract length:
- 6 months access: £399
- 1 year access: £599
- Lifetime access: £999
The longer commitment, the better discount.
This pricing puts it firmly in the premium bracket when comparing the best MT5 EAs. Competitors can cost a quarter as much.
However, Pow Banker EA is one of the few aimed specifically at prop firm trading. The high headline cost could prove worthwhile if it consistently delivers funded accounts.
The Pow Banker EA Developer
Darren Hill heads up POW, operating since 2016. He focuses fully on trader education and EA development.
His background includes running a seven-figure trading business and passing the £100k Combine challenge.
Customer sentiment toward Darren seems positive, with praise for his active community engagement. However, POW lacks the long pedigree or third-party recognition of leaders like [redacted].
Pow Banker EA Verdict
The Pow Banker EA brings something unique to the table, squarely targeting prop firm challenges versus just profitability.
For traders set on securing a funded trading account, it warrants strong consideration given the developer’s track record and specialized approach.
However, the premium pricing and lack of transparent performance data prevent a full endorsement. As with any EA, apply proper risk management as results are never guaranteed.
To learn more or try out the Pow Banker EA, visit their official website.
Frequently Asked Questions
Here are answers to some common questions about the Pow Banker EA:
Does it work for scalping strategies?
No, the Pow Banker EA is not designed for scalping. It optimizes for swing trading based on hourly or higher timeframes. For scalping, a different tool would be better suited.
Can I run it on a VPS or my own computer?
Yes, you can run the EA on a VPS or your own Windows PC meeting the software requirements. Internet connectivity is required.
Is there a money back guarantee?
POW offers a unique results guarantee – if traders don’t pass a funded account challenge using the EA, a refund is available subject to certain conditions around mentoring program participation, trade journaling, etc.
Does Pow Banker EA use neural networks or AI?
No, at present it uses an algorithmic rules-based approach without machine learning or artificial intelligence. However, the developer plans to integrate neural networks in a future update.
What brokerage integrations are available?
It’s designed to work across all major brokers supporting MT5 and the MQL5 language. Check your broker’s compatibility or consider switching if needed.
Pow Banker EA Conclusion
The Pow Banker EA brings automation, versatility, and prop trading focus in one powerful package. While premium priced and lacking transparent performance data, it warrants evaluation by funded account seekers. Apply prudent risk management and reasonable expectations, and it could unlock consistent profits.