The FXAdept website has been designed in an interactive format to grab the attention of the audience. The vendor speaks highly of the trading system, claiming a monthly return of up to 30% (as per the live results). The developer has enlisted most of the basic required information about the trading system. However, no information is available about the developer behind the forex robot.
The developer has clarified upfront that the robot does not employ Scalping, martingale or grid strategies, meaning that the potential risk of the robot blowing your account is significantly low. This makes the robot look lucrative here.
Pricing of FXAdept
The FXADept trading system is available only for a single license, with complete freedom to change the account you are using it with. The traders can get the license for a one-time payment of $269, with no installment or break-payment options. Traders who are more comfortable in paying through regular trading profits might not be happy about the pricing strategy. The vendor offers a 30-day money-back guarantee on the robot.
General Features of the FXAdept Trading System
The key features of the trading robot as disclosed by the developer on the website are as follows:
|Trading Pair||USD/JPY only|
|Recommended Minimum Deposit||$100|
Trading Strategy Employed
The developers have eagerly pointed out that the FXAdept trading system does not employ any risky grid or martingale strategies. This minimizes the potential risk of one a wrong trade blowing your entire account. The robot doesn’t employ scalping techniques even. Rather, it stays reads the market conditions and waits for a few hours to earn a profit on each trade. The robot uses two algorithms for its trading strategy:
- Entry Point – The robot reads the direction of the trend and opens trades in that direction only. The RSI indicator is used for this purpose with certain additional filters that allow the robot to open highly profitable trades.
- Smart Support for Open Trades – Smart support for open trades help in ensuring that maximum trades are closed profit by considering parameters such as profit or loss volatility of the market, duration of the open trade, number of active trades, direction of the trades and the indicator’s readings.
The developer has shared trading results from an active Myfxbook account that was opened in November 2017. The key points obtained from the analysis of this account are as follows:
- The Myfxbook account and the trading results are both verified and thus, reliable.
- The account shows a profit of 277% overall.
- The results show a high drawdown of more than 37%.
- About 43% of the total trades incurred a loss.
- The monthly gain is just about 7%, that is far from the promised monthly gain of approximately 30%.
- The developer has kept the open trades hidden, which could raise suspicion.
The developer has not offered any customer testimonials on the sales page of FXAdept. With thorough research, we were able to find some reviews, though they were very difficult to find. The lack of reliable reviews does not provide any insight into the actual returns that the customers have gained using this robot.
The FXAdept trading system is based on a great idea of eliminating grid, martingale and scalping strategies. However, the EA maintains a high drawdown rate with a huge number of trades being closed in losses. Since the results do not depict the expected profitability rate, the actual performance of the robot cannot be guaranteed. The trading system deserves a rating of just 5/10, that is far below the acceptable mark. For the price of $269, traders can easily get their hands on better-performing trading systems that will even provide them with several currency pair options.