How to Spot an EA Scam: 8 Red Flags
Most EA marketing sells a narrative, not a track record. These 8 red flags filter out the majority of scams before you pay.
Plenty of people sell EAs; very few show you a live account. Before paying for any EA, run it through these 8 signals — the more it hits, the faster you should walk away.
1. Backtest only, no live account
A backtest curve can be shaped into anything. If they can't show a third-party-verified live account (why: Myfxbook verification guide), that pretty curve is just a picture.
2. No Verified badge on the live account
A hand-typed Myfxbook account is no better than a screenshot. It must say Verified by Myfxbook.
3. Hiding the drawdown
Be wary of anyone who shows only the gain and dodges max drawdown. A seller who publishes drawdown is an honest one — drawdown is how you judge the risk.
4. Promises of fixed returns / "guaranteed profit"
Any "X% per month, capital-protected, risk-free" pitch is a red flag. Real trading has no sure thing; a compliant seller gives you history plus a risk warning, never a promise.
5. Manufactured scarcity and urgency
"Only 3 slots left," "price goes up tonight" — artificial urgency exists to stop you doing due diligence. A good product isn't afraid of you taking your time.
6. Heavy martingale/grid with no mention of blow-up risk
Martingale and infinite-averaging EAs show gorgeous backtests but can go to zero in one trend. The strategy isn't necessarily a scam — hiding its tail risk is.
7. No real identity or support channel
No traceable author, no reachable support (e.g. a Telegram bot), silence after payment — these precede a disappearing act.
8. Calling it a "holy grail" after less than a month live
+50% in a week means nothing. Only a record that survives different regimes for 6+ months is worth referencing.
How we do it (check us the same way)
Our live portfolio fxkiller-s1 is Myfxbook-verified end to end, with a 31.7% max drawdown shown openly; every product page links the live signal, and EAs are priced as a discount to the MQL5 list price with the original author credited. Don't just take our word — run the 8 checks. Browse from here, or see managed accounts.
Risk note: margin trading in FX and derivatives is high risk; past performance does not guarantee future results. Only trade with money you can afford to lose.
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