FXHT MultiCurrency EA is a fully automated system that claims to provide high returns and minimal losses. As per the vendor, the FX robot can generate up to 70% of profits daily. The ATS uses multiple strategies with SL and TP to ensure high profits are made. According to the vendor, the system does not use dangerous methods like hedging, Martingale, and grid approaches.
We could not find info on the vendor as the official site does not reveal company details. Other products of the company include New ProHT Trend EA, FXHT Rotterdam EA, and more. There is no information on the founding year, the location, developer and trader team, the expertise of team members, phone number, etc. The absence of info indicates a lack of vendor transparency.
FXHT MultiCurrency EA: characteristics
The official site does not have much info on the vendor or the system. Of the info provided, some of the key features of this FX EA that make it competitive in the market as per the vendor are:
- It can work with any broker.
- The ATS works best on currency pairs with high volatility like EURUSD.
- It uses 100% automation and works 24/5/.
- You need not optimize the settings for accurate results.
- Recommendations include the use of a minimum deposit of $500.
- The recommended lot size is 0.01.
- The leverage starts from 1:30.
Currency Pairs, strategy & timeframe
As per the vendor, the FX EA works effectively on four major currency pairs. It works particularly on the EURUSD pair. An intraday scalping method is the main strategy this system uses. The vendor recommends the use of money management or a fixed lot. An SL and TP are part of the strategy used. The vendor claims that you need not configure the settings or optimize them for better results as the automated design takes care of all the details. We could not find further info on the strategy as the vendor fails to explain the approach used besides mentioning the strategy.
FXHT MultiCurrency EA trading performance
A backtesting report present on the myfxbook site is displayed on the official site. However, the test report is deleted from the myfxbook site. A demo USD account is present for the FX EA with trading privileges verified by the myfxbook site while the track record is not verified. Here are a few screenshots of the account:
From the above account info, a total profit of 117.79% is generated by the EA with a daily profit of 2.82% and a monthly profit of 117.79%. The account started in March 2022 with a deposit of $5000 and shows a drawdown of 45.83%. From the growth curve, we can see the growth is not steady with constant ups and downs indicating a risky approach. The high profits and big drawdown further confirm the risky strategy. A total of 420 trades have been executed with a profitability of 84% and a profit factor of 1.66.
From the trading history, we can see the lot sizes used are high ranging from 0.18 to 0.22. The varying and big lot size also shows the risky approach. For traders who want steady profits with low risk, this is not a favorable system. Further, we prefer evaluating a real trading account instead of a demo account. The reason is that the demo account will not reveal the important details that can help you decide on the efficacy of the system.
How much does it cost?
To buy this FX EA, you need to pay $120. The original price of the system was $400 which has been discounted to the present price. We could not find details on the features available with the package. There is no mention of a money-back guarantee, which raises doubts about the reliability of the system. When compared to the market average, the discounted price is affordable.
Reviews from customers
Unfortunately, we could not find user reviews for this FX robot on trusted third-party sites like Forexpeacearmy, Trustpilot, etc.
Should you use FXHT MultiCurrency EA?
|It is a fully automated software||Lack of vendor transparency|
|Price is affordable||Only demo trading results present|
|No refund offer|
FXHT MultiCurrency EA boasts of a safe approach that does not use risky methods like Martingale, grid, etc. However, from the demo results verified by the myfxbook site, we find that method used by the EA is very risky. The reason is because of the abnormally high monthly profits, the big drawdown, and big lot sizes. Other downsides that you should consider about the system include the lack of vendor transparency, lack of user reviews, and the absence of a money-back guarantee.