Richter mt4 EA is a popular EA on MQL5 Markets, priced at $1599. The PC version is on the second page, ranking on the homepage in the MT4 Terminal. This EA can work on 32 currency pairs. According to backtest data provided by the EA Vendor, the profit curve for almost every currency pair shows an straight upward trend.
The EA Vendor has released a total of 36 EAs and 65 Indicators with 5245 Connections in MQL5 Community. Based on these statistics, the EA Vendor is undoubtedly a true Professional Trader, a master of trading, and a leader in the industry. I believe that owning any product from this master is enough to achieve financial freedom in life.
To select the most profitable EA among many excellent products and to realize life’s dreams quickly, I first conducted a Tickdata Backtest on Richter mt4 EA.
Through a backtest of tick data from 2003 to 2025 over 22 years, with an initial deposit of 10,000 USD using the default setting, the EURUSD achieved a profit of 66 million USD, and the GBPUSD achieved a profit of 70 million USD.
These results truly excite me. Although the price of Richter mt4 EA is not low, compared to the profits, $1599 seems very cheap.
However, when I modified the tick data to start from 1982, we found that all the profit curves uniformly showed a straight downward trend.
Unfortunately, after May 8, 2025, Richter mt4 EA was upgraded to Version 3.4, which no longer supports backtesting with data from 1982.
Conclusion:
In Forex EA Review 01 and Forex EA Review 02, I did not mention the specific names of the EAs but introduced many basic backtesting methods and judgment ideas.
For the review of Richter mt4 EA, I will not write my personal conclusion; you can judge for yourselves. Meanwhile, I have 3 questions for readers:
1. Based on the backtest results above, would you spend $1599 to purchase Richter mt4 EA?
2. Would you still consider purchasing if you find an EA’s backtest results very good but it doesn’t support modifying data time for backtesting?
3. Once a thief, always a thief. Would you still buy the other 35 EAs and 65 Indicators from the EA Vendor, the true trading master?
About the Author
YueWang, Founder of Linocapital, Founder of TheDailyFX.com.
Contributor of FXStreet since 2018.
Member of the Society of Technical Analysts(UK) since 2020.
Creator of Seagull EA, Beetle EA, and Snail EA.
Creator of Tendency Forex System, published in 2021 in Market Technician, the Journal of UK Society of Technical Analysts (Issue 90, Page 36-48).
Creator of Razor Forex System, published in the Journal of Stock&Forex Trading (ISSN 2168-9458), which was forwarded by the Quarterly Newsletter of International Federation of Technical Analysts (IFTA).