Beginners in Forex trading generally prefer using automated systems. This is because such systems do not require any prior trading experience. You need to choose the settings you want and you are all set to trade just as a professional would.
Easy Money X-Ray Robot is automatic software for trading that claims a profit generation of up to 50%. It assures that you can turn even a minimal deposit of $250 into a full-time automatic income. In our Easy Money X-Ray Robot review, we will analyse this automated system to find out whether its claims are true. Find out what our experts reveal from the detailed analysis of this robot.
Easy Money X-Ray Robot: Characteristics
Developed by the LeapFX team, this system is a result of partnerships with the finest traders and developers in the industry. According to the vendor, this robot is a self-adjusting system that requires you to just choose the level of risk you are comfortable with. The software is set to open, manage, and close the trades automatically.
Features of the system include complete access to the optimization settings, a detailed setup guide, full customer support, and free updates for life. As with other LeapFX products, there is very little information about the developer or the strategy used. The company does not have a location address or phone contact with just an online contact form provided on the site. This indicates an obvious lack of vendor transparency.
Currency Pairs, Strategy & Timeframe
Based on the vendor information, this system uses four different indicators. All four indicators are used in combination to identify the trending trades and dynamic risk management is used to ensure higher profits and minimal loss. The vendor provides an estimated profit of 3,000% per year claiming that the system had managed to gain 3,500% in 10 months.
As far as strategy explanation is concerned, other than mentioning the trending strategy, no elaborate description is provided, which makes it difficult to evaluate the performance of the system. Furthermore, the vendor does not provide information about the currency pairs that work with this system and the timeframe used.
Easy Money X-Ray Robot Trading Performance
Trading results of several real accounts of this system verified by the myfxbook site are provided on the official site. We analyzed one of the systems, the screenshot of which is provided below.
From the trading stats available for this real USD account using the leverage of 1:1000, we found the gain to be 751.29% and the absolute gain to be 29.3%. Such a huge discrepancy between the two values is not possible and makes us suspicious about the strategy used. Other trading stats include a daily gain of 2.28% and a monthly gain of 107.29%.
A drawdown of 54.58% is revealed, which is too high and indicates the level of risk involved with the system. Besides, the sample size is very small of just over three months. The information on the trading history and lot size is hidden. No backtests are provided for this system and from the trading results, it is clear that the system has a lot to improve on the trading approach used.
How Much Does It Cost?
Two price packages are available for this system. One of the packages is a one-year membership license that costs $347 while the other package is a lifetime membership package that costs $597. The main difference is the duration of the license, while all other features offered are the same for the two packages.
Compared to other automated systems on the market, the price is very high and not something that a beginner can afford. Although the vendor offers a 30-day refund option, the price and the performance are not worth the money.
Reviews from Customers
We could not find user reviews for this Forex robot on trusted review sites, such as Forexpeacearmy, Trustpilot, etc. However, we found a few reviews for the LeapFX group, which are mixed. Some of the reviews are shown in the screenshots below.
From the above reviews, you can find that the system has poor support and performance.
Should You Use Easy Money X-Ray Robot?
After evaluating the various features of this Forex robot, we found the following advantages and disadvantages.
|A fully automated system||Its strategy is not explained clearly|
|30 days money-back guarantee||Trading results show several discrepancies|
|Price is expensive|
|The sample size is very small|
Wrapping up our review of the Easy Money X-Ray Robot, we find the system lacking in several aspects. While there are a few positive features like the use of optimized trade settings, full automation, money-back guarantee, and backing of LeapFX group, these are shadowed by the downsides.
Insufficient explanation of the strategy makes it difficult to evaluate the performance of the system. Although the trading results are verified by the myfxbook site, the results show discrepancies and excessive drawdown. The small sample size and expensive price are other shortcomings that prevent this system from being a reliable one.