Aspex EA Review: Is It a Good EA to Buy In 2022?

Aspex EA is a FX expert advisor that claims to win 90-95% of its trades. It was launched by a team of software engineers in 2017. The vendor claims that this team has the required expertise and experience to develop a robot that generates high profits consistently. 

On the official website, the vendor has made a very brief presentation. As such, we don’t have all the details about this trading system. There are some vendor recommendations, followed by an About Us section, pricing details, and a contact form.

There is not much information available on the parent company. We don’t know when it was founded or where it is located. The vendor has not shared the identities of the team members and there is no contact information. To get in touch with the service team, you should use the contact form on the official webpage. 

Key features 

There are two plans for this Forex robot. The first plan costs $499 and it comes with a trading license for one account. With the second plan, you can trade on 2 accounts in exchange for $899. Unfortunately, the vendor does not entertain refund requests.

This is a robot that can trade in all currency pairs, but the vendor recommends GBP/JPY and GBP/USD. They also recommend running it on H4 charts. It runs on the MT4 trading platform. Due to its advanced risk and lot management system, it can choose the proper size of the trading lot based on the account size. The vendor has not explicitly recommended the leverage, but the live trading account for this robot trades with 1:500 leverage.

Aspex EA trading approach 

Aspex EA is a system that follows a pure trend following strategy. The developer has not explained how this strategy works. We don’t know what indicators this system uses and how it identifies profitable trades. 

Backtesting results 

Vendors of automated FX trading tools often test their systems with archival data. These tests go on for several years, thus exposing the EA to various market conditions. Unfortunately, the developer has not shared the historical test results for this expert advisor. Thus, we cannot compare the historical performance with the live performance to get a clearer idea about EA’s profitability.  

Aspex EA live trading results 

There are no live trading accounts for this robot on websites like FXBlue, Myfxbook, and FXStat. Here we have a live trading account on MQL5 that was launched on 16th December 2021. To date, the system has conducted 433 trades through this account, winning 352 and 81. Therefore, it currently has a win rate of 81.29%. 

The account started with an initial deposit of $24201.43 and has managed to generate a total profit of $3999.20. To date it has enjoyed a growth of 13.78%. It has a profit factor of 1.04 and a maximum drawdown of 93.5%. Looking at the very high drawdown, we can tell that the robot uses a high-risk strategy that is close to the account loss. The average profit and loss for this account are $312.93 and $1310.51, respectively. It means that the system trades with a risk/reward ratio of 1:4. 

What are the risks with Aspex EA?

Aspex EA is sold by a vendor whom we know nothing about. They haven’t clearly explained the trading strategy and there are no historical test results. We don’t have the verified trading results for this robot. The vendor does not entertain refund requests.

Worth noting!

There is only one review for Aspex EA on Forex Peace Army. Here, the user claims that the service is terrible. Apparently, the trader’s account burned in less than a month. The user states that the EA follows a reckless strategy.

What are the pros & cons of investing in Aspex EA?

As we can see, this EA suffers from a lack of reputation. Since there are no backtesting results, we have no idea about the long-term performance of this system.