FXShooter EA Review

Today’s robot is FX Shooter. It’s been introduced with a statement like: “Automate Your Trading With Brilliant Expert Advisor Like A Pro.”

The next we can see is a “not existed” 30% discount. 

The “download” button doesn’t work as well.

The robot features list is:

• fully-automated trading solution
• easy to set up
• free updates
• money management system
• adaptive market analysis
• market trend following
• friendly to any broker
• low drawdowns
• welcome 24/7 support.

The explanations of the fx robot include “real result showing that the system is really stable, and has been working reliably and profitably,” and it’s a lie if we take a quick look at the chart.

Backtesting

The devs provide four 10 years (2008-2018) backtests. It’s a EUR/USD currency pair traded on the M15 time-frame. The deposit was $1000. The total net profit was $88K. The relative drawdown was 21.76%. The EA traded with a high win rate (89-95%).

FXShooter EA trading performance

The robot runs the real USD account trades through the PaxForex brokerage company with 1:500 leverage on the MetaTrader 4 platform. The account has been started in May 2019. Having traded with high risks the account grew to +123% of the gain on 14 August 2019. The rest of the period till today, FX Shooter just wasted money. The monthly gain equaled 6.79%; the max drawdown was 22.15%. 

The robot shows very mediocre results.

FX Shooter performed 923 deals with 1288 pips. The average loss is -$24.39 when the average win is just $5.25. The same we can see with the worst and the best trade (-$85.55/$30.60). The win-rate is quite high and equaled 83% for longs and 88% for shorts. The profit factor is small (1.34).

FX Shooter trades 7 currency pairs with different success.

There has anything been written about strategy, but how we can see, it’s a scalper. 

The EA doesn’t prefer Monday to trade.

The robot tries to recover trading with high risks but no avail.

The results show to us that the exit logic as a part of the money-management system works bad.

March 2020 results warn us about not buying the robot.

The offer

The “basic” package costs $300 and includes two real accounts, free updates, and support. Paying $450 for the “Advance” package we’ll receive four real accounts. The devs don’t provide a money-back guarantee.

Wrapping up

Pros

• Real account trading results
• Backtests provided

Cons

• Low trading results
• The last 8 months robot is garbage
• No strategies explanations provided
• No settings explanations provided
• No user guide provided
• High-risk trading
• Weak exit logic
• High price
• No discounts
• No demo accounts provided
• No money-back-guarantee provided

The robot is complete garbage. The first three months it could double the account balance the rest eight ones it just wasted money and time. Probably, there were no updates, because we couldn’t see any improvements in its functionality. As well, there are problems with the exit logic and money-management system in general. The devs decided to remove -30%OFF coupon, so, we’re offered to buy for the full price.