FXMath X-Trader is portrayed as an EA that can greatly assist you with your trading needs. The devs imply that it can improve your current financial standing and hence enable you to achieve a life of freedom. Are these claims true or just empty words meant to persuade you to purchase the product? We are here to help you find out.
The vendor of this product is anonymous. The developers do not introduce themselves at all in the presentation. They don’t mention their names, profiles, location, or history of trading. This indicates they are hiding something — perhaps their real intentions, incompetence, bad reputation, among other undesirable things, which if brought to light, will make traders flee.
The price of FXMath X-Trader ranges between $99 and $149. The more money you spend, the higher the number of real and demo accounts you receive, and vice versa. Nothing is said about a refund policy. So, we may assume it is not included.
FXMath X-Trader comes with a list of features. We outline them in this section:
- Is designed to work on the MT4 account with a leverage of 1:100-1:1000.
- It performs trades on real live accounts.
- The base currency pair is EURUSD, but other instruments can be used as well.
- The system adapts itself to different market conditions.
- It can work on the cent, micro, mini, standard, pro, or ECN accounts.
- The robot operates with any MT4 broker.
- The recommended operating system is Windows 2003, Windows XP, Windows Vista, Windows 7, 8, 10.
FXMath X-Trader trading approach
The devs remain mum about the trading approach used by their system. However, we are convinced a dangerous approach is being applied. So, it is highly likely that the EA will use your money carelessly as it enters and exits the market.
We have the backtest data showing us the EA traded with the EURUSD currency pair on the 60-minute chart. Its activities commenced in January 2018 using a $99 deposit. At the end of the simulation period (November 2020), a total of 295 trades had been executed.
The winning rate (92.54%) was rather impressive. This means that the system brought in $44472.14 worth of profits. The maximal drawdown was 23.43%, whereas the profit factor was 68.85.
FXMath X-Trader live trading results
The total return rate of this account currently stands at 80.1%. This is after the EA worked with a deposit of $1956.08 to generate a profit of $1566.07 within 31 days of trading. The stats do not reveal the losses made or the resulting drawdown. This is highly suspicious. We suspect the values are not good hence the secrecy. The weekly and monthly returns are 13.6% and 71.1%, respectively.
We have an undesirable risk/reward ratio of 2.01. The robot risks more money to make less. This is never a good sign. The average win is $159.03, whereas the average loss is -$12.10. There’s a 29.6% chance of losing the account.
The EA’s monthly gain has declined sharply.
What are the risks with FXMath X-Trader?
FXMath X-Trader is not a safe system. We say this because of the following:
- It works with a dangerous strategy.
- Its profitability has been reducing.
- It is being marketed by anonymous people.
The robot has 3 reviews on FPA. Two of them are negative, while the remaining one is positive. The major concern is the risky approach that the EA implements. From the review below, it is apparent that the advisor uses the grid and doesn’t apply any risk management system. This can be detrimental to your account if you have a strong trend against you.
What are the pros and cons of investing in FXMath X-Trader?
|Showcases the historical and present trading data||Devs hide their identity|
|Average pricing||Negative customer feedback|
|The grid strategy is used|
|Drawdown and loss values are undisclosed|
So, investing in FXMath X-Trader is definitely a bad choice.
FXMath X-Trader Conclusion
Contrary to the vendor’s belief, this robot cannot improve your financial status. Rather, it will deteriorate it by taking away your money and not giving you back any significant returns. In the worst case scenario, a strong trend that works against you can reduce the value of your account to zero. Another important thing, never entrust your money to people with no reputation. In case things go wrong, you will have no one to blame but yourself.