We’d like to talk about a DaxBot robot.
The presentation looks so creepy. The developers insist that DaxBot is #1 for trading DAX30 Index.
They even didn’t try to check the size. This is how it looks like with 100% size in the browser.
It’s the first info we have about the EA. At least, there are myfxbook-verified trading results.
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
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.
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.
The EA trades both directions equally – 166 deals for Longs and 186 for Shorts.
As for the EU Index, the robot trades only during its session.
The EA trades every day equally.
DaxBot trades with medium risks to the account balance.
Placing SL levels looks out of place. Some of them are 100 pips when others are 10.80 pips.
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.
- 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.
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.
The two live accounts license costs 400 EUR annually.
Three real account licenses cost 500 EUR annually. There’s no money-back guarantee.
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.
Here, we can see some fake reviews that are written by sister companies.
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?
|Real account trading results||No strategy explanations provided|
|Good Profitability||No settings explanations provided|
|There are positive testimonials on FPA||Bad-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|
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