AX Trader utilizes a unique hybrid strategy on six currency pairs. The robot is fully automated, opening and closing trade at the same time. Leap FX makes many promises on the performance of the system and provides verified accounts to analyze the performance. Studying the results, we come to know that most of the claims are fake.
AX Trader: Characteristics
The robot is available to download after you make payment. It will be sent over to your email id from where you have to place it in your MT platform’s experts’ directory. Drag the robot, place it on the respective charts, and enable auto trading to turn it on.
The robot has the following features:
- Promises 39% gain per month
- Has an auto stop loss and take profit management
- Builtin news detector which uses volatility from economic events
- Adapts to the market conditions automatically.
Currency Pairs, Strategy, and Time Frame
The developers state that the EA uses a unique strategy and works on auto mode to open and close trades automatically. It determines the entry points using the Fibonacci intervals and utilizes the direction of an overall trend to place a trade. It can work for different brokers, spreads, and fees. The expert advisor trades on EURUSD, GBPUSD, AUDUSD, USDCAD, USDJPY, and USDCHF pairs only on the MetaTrader 4 platform.
There is no further information on the strategy, so we used the trading history from records on Myfxbook. The EA uses grid strategy, which is evident from multiple trades in a similar direction and frequent drops in equity. It has an average trade duration of 13h and 39m which shows a day trading approach.
AX Trader Trading Performance
Leap FX does not provide any backtesting results for the robot. This might mean that it may have resulted in a margin call as it utilizes a risky strategy. Lack of transparency raises many concerns over the performance of the EA.
Live results are tracked via Myfxbook, where the expert shows a monthly gain of 32.22% with a drawdown of 67.99%. The monthly output is less than the claim made by the developer of 39%. A high drawdown means that the algorithm loses much value of the balance before moving into profits. The robot trades with a winning percentage of 79% and a profit factor of 1.64.
How much does it cost?
You can purchase the system for $297 for one year. For $497, a lifetime license is also available. Both the packages come with free updates, customer support, and recommendations. There is a 30-day money-back guarantee if you are not satisfied with the performance.
Reviews from customers
Customer reviews are available on Forex Peace Army for Leap FX, giving them a rating of 2.944 for 14 feedbacks. Traders complain about the inefficiency of their products and failure to make any amount of good profits. They recommend not to use them ever again.
Should You Use AX Trader?
AX Trader does not show satisfactory performance in the live records. It uses a risky strategy known as the grid, which contributes to a high drawdown that can wipe off your account in a matter of minutes. Further, the customer reviews are not satisfactory.
- 30 days money-back guarantee
- Poor live trading results with no backtesting
- Uses risky grid trading strategy
- No transparency from the developer
AX Trader is one of the many systems from Leap FX that does not perform according to the promises. It can result in huge losses if not used properly. Stay away from it if you value your cash and do not want to wipe out your portfolio quickly