EliteCurrenSea review: Pros, Cons and Traders Ratings.

4.351 • 88 REVIEWS
Nenad Kerkez Chris Svorcik
Updated: Dec 5, 2023
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What is EliteCurrenSea?

EliteCurrenSea is a forex services company, offering forex trading EAs, managed forex accounts as well as educational workshops and seminars.

EliteCurrenSea's EAs include Zeus EA and Athena EA, both EAs are grid trading robots and work with MetaTrader platform.

Please read EliteCurrenSea Reviews below and share your experiences with this company.


Established: 2014
Contact: info@elitecurrensea.com

EliteCurrenSea.com Performance tests

Status Account Product P/L Weekly,% Weeks tested P/L Gross,%
Portfolio ECS +0.5 64.1 +37.787
Athena EA +0.24 90.8 +24.5
Portfolio ECS VT Markets +0.57 55 +36.713
Zeus EA Gold VTMarkets +0.56 17.8 +10.5
ECS Portfolio Flagship +1.97 65 +256.091
Athena EA VT Markets -2.41 50.5 -70.877
Zeus EA Gold from EliteCurrenSea.com +0.93 28.5 +30.253
Athena EA RannForex -0.04 65.3 -2.838
Please click the Product name to see detailed test analytics, trading statement, and use our Performance Simulator.
4.351 • 88 REVIEWS

Recent User Reviews of EliteCurrenSea.com

btv, Slovakia,
Dec 8, 2022,
Registered user

...and story continues...

Service use: Live Length of use: over 1 Year
Update, in short (zeus): funds: 0.70 net profit -2499.30 (starting 25/01/2021)
- 4K gone with two EAs
- 100% loss
PS: zeus had also good monthly percentage like other eas they propagate now.
PS2: i know trading is risky. just saying i lost 100%

Jan 4, 2021 - 2 Stars just status:
ultima after 9 months - minus 50%
ultima 5 mins after 4 moths - minus 40%
just to let to know everyone my status of account. will see at the end of year if i'll be lucky or loose everything. will be glad the investment will be returned to 0, then i will cancel the service. there are better ways how to invest money
who is profitable on this for now is only ecs. taking profit from profitable trades but overall my accounts are in deep loss

Reply by EliteCurrenSea submitted Feb 5, 2021 Dear trader,

We are sorry that you are currently in a loss. But there are a couple of things that we need to explain to you and the audience to shape the context around the current loss.

1) Unfortunately, ups and downs is the risk of trading Forex with high leverage. It can produce high volatile results and profits and losses can alternate quickly.

2) The total 2020 result was still good ending at +218.5%. It is true, that the second half of 2020 certainly saw a worse result than the first half of 2020. The 1st half of 2020 was a gain of +265% versus the 2nd half of 2020 ended up at -46.5%. That said, the total for the entire 2020 year was still **+218.5%.** Traders who joined us in the 2nd half of 2020 of course are unlucky as they missed the profits from H1 2020. That is why the creator Ultima EA and Rush EA Mislav Nikolic from Bull Capital and we at ECS **always emphasize the importance of trading at least 1 year (!).** Because when trading anything shorter than 1 year, traders are vulnerable to short-term ups and downs. It is similar to a price of a stock. Usually it is advised to hold on to a stock for a while because there will be ups and downs before the price enters a clear positive territory. The EA is up +470% after almost 1.5 years of live trading (as of 5.2.2021). We understand that you are in a loss at the moment and it must be frustrating to see our account ahead by almost 500%. But our live track record is longer and unfortunately the EA has shown weaker results in H2 2020. Luckily 2021 is off to a better start with +26%. Here is our live trading account with our live trading money that everyone can view to confirm the numbers that we use: [http://www.myfxbook.com/members/EliteCurrenSea/ultima-ea-5-risk/6543328](http://www.myfxbook.com/members/EliteCurrenSea/ultima-ea-5-risk/6543328)

3) Please keep in mind that the more risk per setup, the larger the draw-down. The EA can be traded with various risk levels. If it's traded with 5% risk per setup, then of course the draw-down is going to be deeper and the risk of the account blowing up is also higher (has not happened yet but of course the risk is higher). 3% is considered medium and 1% risk is moderate to low. Here you can see the actual live trading results and draw-down with real money (!) of each risk category:

**5% risk —> +526% / draw-down 62%** [https://www.myfxbook.com/members/BullCapital/ultima-ea-bull-capital/3472089](https://www.myfxbook.com/members/BullCapital/ultima-ea-bull-capital/3472089)

**3% risk —> +373% / draw-down 45%** [https://www.myfxbook.com/members/BullCapital/ultima-ea-med-bull-capital/3601377](https://www.myfxbook.com/members/BullCapital/ultima-ea-med-bull-capital/3601377)

**1% risk —> +59% / draw-down 14%** [https://www.myfxbook.com/members/BullCapital/ultima-ea-low-bull-capital/5687260](https://www.myfxbook.com/members/BullCapital/ultima-ea-low-bull-capital/5687260)

4) ECS is offering the EA from Mislav Nikolic of Bull Capital as a PAMM, which means we earn via a profit share module. This means that we gain when the trader gains. We share the profit. If there is no profit, then there is nothing to share. Also, please keep in mind that there are plenty of traders that managed to make good solid gains in H1 2020 where the total profits ended up at +265% (see point 2).

All in all, this EA needs patience and at least a year to see through the ups and downs. That said, there is never ever a guarantee in Forex trading that things will repeat. But our live track record with +470% to +520% in 1.5 years of trading is a performance that not many EAs can do. Of course, we wish that the H2 2020 performance was not so weak but that is why Mislav and ECS also emphasize the importance of at least 1 year. The EA tries to build an account up quickly, but draw-downs are just unavoidable for such high risk approaches (you can see that the DD with 1% risk is just much smaller at 14%). We sincerely hope that you would take this information into account when evaluating EAs and ECS. At ECS, we only mention EAs on our website that we trade with our own money. Nothing else. Also, most FX educators hide their results. We do not hide bad results and openly share our myfxbook. We always are transparent and open, in bad and good times. I hope that our feedback helps you see our vision and our emphasis on the long-term.
Lagos, Nigeria,
Oct 1, 2022,
Registered user

None of their products deliver, Beautiful packaging, Zero Performance.

Service use: Live Length of use: over 1 Year
I attended their intro webinar when it was promoted back then by Vladimir Ribakov. At the webinar, The Elitecurrency guys promised that with a capital of 1000usd, you could profit significantly by renting Ultima EA for just 1 year. They projected various possible returns on the basis of their backtest and about 6 months of live trading.

I paid about 1200usd to rent the EA for 1 year, One of the worst investment decisions I ever made. The Ea made several losing months and then made a similar but more aggressive version known as Rush EA. I asked that my license be moved to Rush EA, It also made about 2 months of profits before it started losing month after month.

At the end of the 1-year subscription, I demanded they refund my rent because the EA failed to do what they promised and they refused. They launched about 3 other EAs in quick succession and all failed.

All their EAs are overpriced pieces of curve-fitted garbage. They would never give you the ex4 file to ensure you cant backtest it yourself. It's always hosted on their servers through some bloated mechanisms.

How can a serious company be talking about recovering from a 90% drawdown, that's suicide. Brokers would already be closing your largest losing positions at this point.

If you love your FX capital and your peace of mind, stay far away from all Elitecurrency products.
Reply by EliteCurrenSea submitted Oct 10, 2022:
First of all, sorry to hear about your experience with our products. Ultima EA, as shown on the myfxbook accounts, has returned a serious profit (499%+ as seen here: https://www.myfxbook.com/members/EliteCurrenSea/ultima-ea-5-risk/6543328); that was the primary reason Vladimir Rybakov, an industry veteran, has presented you with one of our services. In the meantime, Rush EA is being traded to this day (https://www.myfxbook.com/members/BullCapital/rush-bull-capital/6811859), but we have decided to stop offering it to our retail clients for the higher risk factors.

Ultima EA has indeed struggled in late 2020 and the beginning of 2021, when we decided to discontinue the solution (https://www.myfxbook.com/members/EliteCurrenSea/ultima-ea-profit-share-5/7210096) while switching to another EAs (https://www.myfxbook.com/members/corderito/ecs-athena-ea/9740533), as well as discretionary trading.

Over the past several years, the markets have gone through several significant structural changes, deeming some solutions obsolete; that is the reason we have introduced new Expert Advisors as well as discretionary trading, which has since seen 300%+ profit and is available for no upfront fees and no profit share fees to all customers who suffered drawdown with our solutions.

Furthermore, It’s important to note that we never promise guaranteed resources, as Forex trading is one of the riskiest forms of speculation on financial markets. Not-surprising, that is where the abnormal returns come from, and we work hard to educate our clients to understand these risks.

Finally, when purchasing our solutions, we make it clear that the refunds are not a part of our business model, as once we make the sale, the software is forever available to our customers, that is also the reason that we obfuscate the .exe file to protect our intellectual property. Hope this makes sense to you.

When talking about 90% recovery, we have further explained that this would have been done through a combination of trading methods (manual and automated). It is a matter of each investor to decide whether to keep faith in our expertise. That’s why we keep our track record public, and discussions like this are always open.

It is unpleasant to hear such harsh criticism, but we understand your frustration and, should you ever have an interest in turning the tide with your investment via our services, we will do our best to help you recover without charging a dime.

Please reach out if you are ready to give us a benefit of the doubt to help you with your financial goals for 2022 and 2023. There are plenty of opportunities in the markets at the moment and we will be happy to help out.

Once again, sorry for disappointing you with Ultima EA and communication that hasn’t shown you the path to recovery that we have set after the Ultima EA closure.
Budapest, Hungary,
Sep 28, 2022,
Registered user

EA repeatedly shorted USD in time of war

Service use: Live Length of use: 3-6 Months
In two months, ZEUS EA and PAMM made me 92% loss. After 24.02.2022., ZEUS EA suffered two colossal drawdowns between March and May. On both occasions, it was due to shorting USD against EUR during wartime volatility. After the crash, they offered condolences. After the first drawdown, they saw the problem as offered adjustments to manage wartime volatility. I believed and stayed which ended up in the second drawdown a few weeks later, related to surge of USD again. In every FX basic course, point no 1 is that crisis like war, strengthen reserve currencies. The algorithm is absolutely unknown to customers, so it was fully my mistake. EliteCurrencies has an excellent online presence through free courses for beginners etc which create trust and kind of loyalty for your FX mentors.
Reply by EliteCurrenSea submitted Oct 10, 2022:
Rokarudi, We are sorry to hear about your experience with Zeus EA, your comments on that particular EA are correct, but please allow us to elaborate on the matter more, as well as explain what measures have been taken since.

Zeus EA DD has indeed taken place on 24.2.2022, when Russia invaded Ukraine, and over the course of that day, the EA has opened grids that it couldn’t have closed in profit following the basic logic of the strategy, namely opening grid of trades, increasing positions in the same directions with bigger lots until the retracement.

The money manager responsible for this approach happens to be Ukrainian and has been evacuating his family from Kyiv on the night the events took place. While this is itself no excuse for our risk management team not stepping in earlier to cover up, the start of the war has been a surprise for us, as it was to the markets as seen by the subsequent moves in commodities, majors and equities.

The steps that has been taken since Zeus EA EUR/USD issue:

* Restructuring of our risk management team
* Halt with trading Zeus EA EURUSD in this market conditions
* More emphasis on another EUR/USD Grid Trading solution - Athena EA (300% up since early 2021)
* Launch of Zeus EA Gold Grid trading (40% since June)
* Relaunch of Portfolio ECS with institutional clients
* Focus on momentum trading EAs with Stop Losses as well as more discretionary trading with a help of new money managers

Please reach out if you are ready to give us a benefit of the doubt to help you with your financial goals for 2022 and 2023. There are plenty of opportunities in the markets at the moment and we will be happy to help out.
Florida, USA,
Feb 28, 2022,
Registered user

Zeus EA with EliteCurrenSea.com

Length of use: over 1 Year
I have been using the Zeus EA now for going on 2 years. I had used Ultima before and wasn't enjoying the inconsistency so I made the switch over to Zeus and couldn't be happier. If you want steady gains with a reasonable drawdown you should check it out. They also just changed their licensing fees to allow for a LIFETIME license, which is incredible! I have been averaging 4 to 7% gains since I started with them. I only wish I had 100K to put in an account now so I could just enter early retirement!

This is the type of performance everyone wants from an EA, but never can find. On of the great performance, the team there has been absolutely wonderful to work with. Highly professional! Send me a message if you want to know more about it.
Joel Saldanha
Australia, Australia,
Sep 28, 2021,

Really Disappointed with Ultima and Rush

Service use: Live Length of use: over 1 Year
I have been loyal customer with ECS for almost two years. Sad to say both their EA which were promoted with a lot fan fare Ultima and Rush have been extremely disappointing and a waste of time. Except for one month in 2020 Ultima performance have been extremely disappointing. After 1.7 years in their PAMM I am still down by almost 50 percent. It's the same story with Rush as well. I personally received promotional emails from Misalov which said Rush doubles the money.Quite misleading. Also the bizzare part is back testing results were through the roof. How come on both EAs backtesting and live results are so different. ECS itself is genuine company but i guess they promoted the wrong EA

Mar 11, 2020 - 5 Stars Chris and Nenad both certainly know their stuff and provide genuine and profitable setups and advice. I am a current member of their Ulitma EA and can certainly vouch for its authenticity and profitability. Always trade with risk capital. Yes there maybe losses in future but if you're in for the long run, it is certainly a very sound and authentic system. Keep up the good work ECS.
Reply by EliteCurrenSea submitted Oct 11, 2021:
Thank you for the feedback. We understand the frustration when trading results are disappointing. We also feel the same with the results of Mislav Nikolic's EAs. That is why we stopped trading Ultima EA in July 2021 and Rush EA in August 2021. We wanted to give the EAs 1 full year of history so that we avoid making long-term decisions on short-term results. Our Ultima account peaked on June 2020 (best result occurred then). We wanted to give the EA at least 1 year the time (from that peak), as also Mislav recommended. Although the Q1 2021 was pretty good, unfortunately, the results remained weak in Q2 2021 and we were still in a loss after 1 full year. That was for us at ECS the key moment to stop trading it (we decided to remove our capital and stop offering it on our website).

Yes, we were excited about Ultima EA at the start and I can imagine that people would place blame on us for that. We understand. Ultimately though, we are not shy to engage in trading - rather than just education (and sitting on the side-lines). Trading always remains risky. The 1st year we saw good rewards, but the 2nd year performed poorly. Regarding the back-testing, I think that we learned from this experience and we now place more emphasis on live trading results. If we do use back-testing, we demand a back-test with a longer history than 3 years. At the least 5 years and ideally 10 years.

That said, we think that it is important to add that we tried to learn from these events. For instance, we demand a longer track record before trading anything live. After almost 2 years of live trading, we recently started ECS Portfolio. This is a mixture of ECS systems, automated and semi-automated. It also trades based on a mix of technical analysis, fundamental analysis, and news events. Plus it trades a basket of instruments.

The method has so far had very stable and consistent results. The worst month was only -4.27% and 20 out of 22 months showed profits. All quarters had profits. The average gain was about 15-20% per month. We learned from Ultima EA that strong and long draw-downs are not the right path and built a mixture of methods that aim at and show much more consistency.

To summarize, we tried to learn from this experience and we believe that Portfolio ECS has a lot to offer in terms of gains, consistency, low draw-down, and management (100% done by ECS). If your are not keen to give this product a shot, we understand your position and truly sorry for Ultima EA underperforming, otherwise, we will be happy to do our best to make up for the previous results.
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