We’d like to talk about a DaxBot robot.

DaxBot presentation

The presentation looks so creepy. The developers insist that DaxBot is #1 for trading DAX30 Index.

DaxBot presentation

They even didn’t try to check the size. This is how it looks like with 100% size in the browser.

DaxBot presentation

It’s the first info we have about the EA. At least, there are myfxbook-verified trading results. 

DaxBot: Characteristics

There are little features introduced about the EA:

  • The robot is fully-automated trading software.
  • We can trade through any broker.
  • There will be free updates and upgrades for those who bought the robot.
  • The EA delivers with 24/7 support.
  • The SL levels are set at 10 points.
  • The EA doesn’t use martingale, grid, or cost averaging strategies.

Currency Pairs, Strategy & Timeframe

The robot can operate with the next symbols, performing strategies:

  • It can trade only the DAX 30 Index.
  • It performs (we’re not sure) Trend and Price Action strategies.

DaxBot Trading Performance

DaxBot Myfxbook

We have a real EUR account on Vantage FX with a Track Record is Verified. It has a lack of transparency because much info is hidden. The account was created on September 08, 2020. For several months, the absolute gain became +488.55%. An average monthly gain is +155.14%. The maximum drawdown was 13.65%. Fifteen traders track the robot’s trading results.

DaxBot advanced statistics

The robot has performed 353 deals with 756 pips. An average win in pips (15.28) is a bit lower than an average loss (-19.86). The win-rate for Longs is 59%, for Shorts, it is 65%. An average trade length is 17 mins. The Profit Factor is 1.55.

DaxBot trading results

The EA trades both directions equally – 166 deals for Longs and 186 for Shorts.

DaxBot trading results

As for the EU Index, the robot trades only during its session.

DaxBot trading results

The EA trades every day equally.

DaxBot trading results

DaxBot trades with medium risks to the account balance.

DaxBot trading results

Placing SL levels looks out of place. Some of them are 100 pips when others are 10.80 pips.

DaxBot monthly gain
DaxBot trading results

It seems like the trader uses manual arbitrage trading with increased Lot Size to grow the account quickly.

How much does it cost?

We can get the EA for free following the next steps.

DaxBot cost
  • We have to register a real account using a referral link on a Vantage FX broker.
  • We have to deposit at least 500 EUR.
  • We have to mail the vendor our MT4 account number.
  • After receiving a copy of the EA, we can trade on our account.
DaxBot cost

The Entry Level package costs 300 EUR annually and includes one real account license. If we want to change the account, our payment will be screwed.

DaxBot cost

The two live accounts license costs 400 EUR annually. 

DaxBot cost

Three real account licenses cost 500 EUR annually. There’s no money-back guarantee.

Reviews from customers

DaxBot Reviews from customers

There’s a page of DaxBot on the Forex Peace Army. There’s a 3.866/5 rate based on 15 reviews.

DaxBot Reviews from customers

Here, we can see some fake reviews that are written by sister companies.

DaxBot Reviews from customers

Many are using it on live accounts and happy with the results. Anyway, we couldn’t find reviews that downgraded the company’s rating.

Should You Use DaxBot?

ProsCons
Real account trading resultsNo strategy explanations provided
Good ProfitabilityNo settings explanations provided
There are positive testimonials on FPABad-designed site
The owner could use arbitrage trading to increase trading results
Insane annual pricing
No money-back guarantee
Some of the comments on FPA are fake

Conclusion

The robot can trade DAX30 on the live account and make some profits, but the robot is several months old. We don’t know what strategy or strategies behind the system and if we can rely on them or not. It’s scary to buy a cat in the bag. Trading results look like a scam because the first month’s profit was +257% and the second one was just +61%. We’ve noticed that many trades can be traded using arbitrage software. Because there was the first deposit, then there was an arbitrage trade. After the trader got sure that the broker doesn’t market this deal as arbitrage-traded, he or she deposited more funds. The pricing looks completely insane. First, it’s annual subscribing. Second, we can’t change accounts. Third, no money-back-guarantee provided