The devs tell us that XFXea engages in regular trading and hence brings profits frequently. Although the robot may make some losses, these unprofitable periods do not last long. Furthermore, the EA works quickly to recover the losses using a special algorithm. We cannot take these claims seriously until we assess the performance of the EA in the live market. Read our review to see what we found out and whether this is the tool you need to buy in 2021.
XFXea is one of the many robots being promoted by ForexStore. Unfortunately, information about the people who came up with this EA has not been divulged. So, we do not know the kind of individuals we are dealing with or how to contact or reach them. Therefore, you should not trust them.
The asking price for this robot is $260. The purchase includes 1 lifetime license and a 30-day money-back guarantee, among other features.
The EA has a few characteristics:
- It trades on two currency pairs: AUDUSD and EURUSD.
- Runs on both the MT4 and MT5 platforms.
- Comes with a user manual.
- Friendly support.
- Free updates.
- The martingale strategy is not used.
XFXea trading approach
From the vendor’s strategy description, we can tell XFXea is a grid system. According to the devs, the system computes an entry point by assessing a certain number of bars and then creating an important range. Next, it decides when and how to begin trading based on this range.
The effectiveness of the robot’s strategy was tested between January 2014 and November 2019 using the 1 hour timeframe. A total net profit of $86,748,970.07 was generated after the system won 68.89% of the 974 trades completed. The drawdown was massive — 59.89%. This is not a good sign because it means that the strategy used is far from being safe. The results for short (62.89%) and long positions (74.65%) were rather poor. The profit factor was 2.06.
XFXea live trading results
At a glance, the EA’s performance doesn’t look lucrative compared to the backtest report. We are disturbed that the robot has only managed to make $12613.13 from $500.79 within 3 years of trading. However, it is still clear that the grid strategy on board is high-risk as illustrated by the huge drawdown of 53.37%. The gain made so far is 2523.53%.
The profit factor (1.66), which is lower than the one in the backtest statement, further tells us that the robot is not productive enough. We have win rates of 63% for long positions and 67% for short ones from 580 trades. The average trade length is 3 days, and from the average win (33.96 pips) and average loss (-45.21 pips), it is evident that the EA has lesser winnings compared to losses.
The risky trading activities of the EA have weakened this account. So, if it loses 69 trades in a row, then 50% of the account will be no more.
The EA conducted hundreds of trading daily. So, the only difference between the most active day (Thursday) and the least active one (Friday) was 24 trades.
Compared to the 2020 monthly performance, the gains made by the EA in 2021 are poorer.
What are the risks with XFXea?
XFXea is neither a safe nor a reliable trading system. This conclusion is based on the following findings:
- It uses the grid approach.
- The drawdown generated is high.
- Its profitability rate is low.
This trading tool doesn’t have any customer reviews. Our search for testimonials for this EA on sites like Quora, Trustpilot, mql5, and FPA yielded no results.
What are the pros and cons of investing in XFXea?
|The vendor has provided the EA’s live trading results||High drawdown|
|A 30-day money-back guarantee is offered||Poor win rates and low profitability|
|Grid on the board|
|The vendor is mysterious|
Clearly, the robot is an unreliable trading tool.
XFXea is not a sound trading choice. It uses a risky trading approach which makes it more susceptible to losses. This fact is made clear by the high drawdown generated. The poor win rates and the resulting small gains point to a system that cannot be trusted to identify profitable opportunities.