FXMath X-Trader is a Forex EA promising the highest probable profit and lowest probable drawdown with its advanced algorithm. As per vendor claims, this robot is able to close more than 90% of its trades in profits. It works on the MT4 platform and is backed by 2 years’ worth of backtesting data.

FXMath X-Trader: Characteristics

This robot uses a system based on a mathematical model that lets it trade in 100% automatic mode. Trades are opened in the most probable direction of the trend for a certain number of days. Mathematical logic is applied for calculating the trading signals. 

While using this EA for trading, you have the option to alter the trading parameters, however, this is advisable only for experienced traders with some technical knowledge. The installation process, however, is not very complex.

Each customer receives quality support 24/5. No matter what kind of issues you face with the service, you can get in touch with the customer service team during this time. In order to keep the system updated with the latest market environment, periodic updates are provided by the vendor. 

After purchasing the robot, you need to share your MT4 account number with the service team to activate the product. An email will be sent to you, notifying you about the license activation. Although the vendor recommends using their partner broker, it has also been mentioned that the robot works with any broker.

The vendor recommends using this system with leverage of 1:100 to 1:1000. It monitors the market at all times searching for trading occasions and is able to mold itself to the shifting market scenarios. With this robot, there is no need to manually intervene every now and then. There are three types of accounts available to the trader, namely Mini, Micro, and Cent. 

The operating systems supported by this Forex EA include Windows 7, 8, 10, Windows 2003, Windows Vista, and Windows XP. 

Currency Pairs, Strategy & Timeframe

Currently, this EA only trades in the EUR/USD currency pair. On the official website, no information is provided on the trading strategy used by FXMath X-Trader. Most of traders might be disappointed by this since the technical details of the strategy are useful when it comes to gauging the EA’s profitability. 

The vendor should have explained how the system finds out the direction of the trade and what kind of analysis it performs to find profitable opportunities. We hope they decide to include this information in the future. From the backtesting data presented by the vendor, we can see that this robot trades on the H1 timeframe.

FXMath X-Trader Trading Performance

FXMath X-Trader Backtests

This backtest for FXMath X-Trader started in January 2018 and ended in November 2020. A total of 295 trades were placed during this time period for the EUR/USD pair. Out of these trades, 273 were won, which means the robot had a win rate of 92.54%. The total profit generated during this test was $44472.14.

There were 41 maximum consecutive wins and only 3 maximum consecutive losses. The relative drawdown was 23.43%, which is a bit high. Nevertheless, the profit factor of 68.85 is quite satisfactory. 

FXMath X-Trader Myfxbook

This live trading account for FXMath X-Trader has been up and running since 29th November 2020. At present, the daily and monthly gains for this account are 0.46% and 14.94%, respectively. Here also, we can see that the drawdown is 23.76%, which is not exactly low. 

To date, only 62 trades have been placed through this account, and this makes it difficult for us to assess it based on its profitability. We cannot possibly get a clear picture of the robot’s performance from such a small sample size. However, it has an extremely high profit factor of 3.88 and a win rate of 89%. 

How Much does it Cost?

The pricing plans available for FXMath X-Trader are called Silver, Gold, and Diamond, respectively. All of these plans provide lifetime licenses, and they are priced at $99, $123, and $149, respectively. With the costlier plans, you have access to multiple real and demo accounts. Unfortunately, the vendor does not mention anything about a money-back guarantee.

Reviews from Customers

FXMath X-Trader Reviews from Customers

On the Forex Peace Army website, we found this user review for FXMath X-Trader. Here, the user criticizes the fact that the vendor does not offer a refund. They also say that the software does not work and gives multiple errors.

Should You Use FXMath X-Trader EA?

ProsCons
Verified trading resultsLack of strategy insight
Lack of vendor transparency 
No refund policy

Conclusion

It is unwise to purchase robots from vendors you know nothing about, and this holds true for FXMath X-Trader. The vendor does not offer any strategy explanation for this robot and refuses to provide refunds, which leads us to believe that it might be a scam.