XFXea promises regular profits irrespective of the market condition at any given time. This FX robot claims to use special calculations and transaction algorithms to ensure the losses are minimized or totally avoided. This ATS works mainly on two currency pairs and does not use risky approaches like the Martingale principle.
This MT4 tool is promoted by the ForexStore group which is known for its expert advisor products like ForexTruck, FXStabilizer Pro, and more. From our analysis of the products of this company, we find that they are below average products. Let us find out if XFX EA comes under this category or not.
After conducting a detailed evaluation of plenty of FX robots, we find the website of this product is very simplistic providing very little info on the product. All the details of the ATS are present on a single page. The main features of this system include regular trading, verified live statistics, no Martingale approach, and the absence of long unprofitable periods.
Currency pairs, strategy & timeframe
The two currency pairs this EA is designed to work on include the AUDUSD and the EURUSD pair. According to the vendor info, the special algorithms used by this ATS help to compensate for loss of trades without the use of risky methods like the Martingale approach. This FX robot works by calculation the entry points using the number of bars and forming a range. From the range, the order placement is decided.
As you can see, the info provided is not sufficient enough to know what approach the robot uses and whether it is effective or not. The failure to divulge the strategy raises a red flag. Further, the vendor does not reveal info on the developer or the team behind it. There is no location address or phone number provided. Other than the online contact form, we could not find other methods available. The lack of vendor transparency is another factor that makes us suspect this is not a trustworthy EA.
XFXea trading performance
Backtesting results are provided for both the currency pairs that this EA works on. Here is the strategy tester report for the AUDUSD pair using the H1 timeframe and a modeling quality of 90%.
For an initial deposit of $5000, the test that started in 2014 and ended in 2019 reveals a total net profit of 86748970.07. A profit factor of 2.06 and profitability of 68.89% are present. The maximal drawdown was 59.89% for a total of 974 trades.
A live real USD Cent account trading result is present for this ATS. The trading done using RoboForex broker on the MT4 platform reveals a total profit of 2448.38% and an absolute profit value of 1696.17%. We are puzzled by the big difference in the two values which is indicative of an ineffective trading approach and poor performance.
A daily and monthly profit of 0.30% and 9.59% are present with a drawdown of 53.37%. For the account that started in September 2018, a total of 535 trades have been executed with a 66% profitability and a profit factor of 1.69. The lot sizes are high at 0.14. From the high drawdown and big lot size values, we suspect the trading approach is risky and not one that traders would be comfortable with.
How much does it cost?
You can purchase this EA for $260. The package includes a single lifetime license, two supported currency pairs, a user guide, versions for the MT5 and MT4 platforms, free updates, and 24/7 support. A 30-day money-back guarantee is present. Compared to the price of other competitor EAs in the market the price of this FX EA is not very high.
Reviews from customers
We could not find feedback from customers for this FX robot on reputed sites like Forexpeacearmy, Trustpilot, etc. The absence of reviews indicates this is not a well-known system among traders.
Should You Use XFXea Robot?
After assessing the various aspects of this automated trading system, we find that it is not a trustworthy expert advisor. Here are the main pros and cons that made us arrive at this decision.
|Fully automated expert advisor||The strategy used is not divulged|
|Verified trading result||Poor performance in the real account trading|
|Lack of vendor transparency|
XFX EA claims to provide regular profits with minimal loss. Our analysis reveals that this is not true. The failure of the vendor to disclose the strategy and explain it besides not providing adequate support info makes us suspect the reliability. Further, the real account trading reveals a high drawdown that indicates this EA uses a risky trading approach. With so many downsides, we find this is not a trustworthy expert advisor to use.