Price movements form the crux of trading in Forex. Traders try to capitalize on the upward or downward spiral. Although there are just 30% of trending opportunities in Forex, when you are on the wrong side of a trending movement, a Martingale approach signals severe risk. This is why many of the automated systems declare that they do not use the Martingale system.
XFXea is one such expert advisor that claims to give high profits but without using the Martingale approach. The system assures regular profits with its unique algorithm. In this review, we have analyzed the XFXea EA and provided our evaluation of the system.
Is Investing In XFXea A Good Decision?
While an automated Forex trading system offers you a definite advantage while trading, you need to first choose the right one. Without the right system, your investment will be in vain. You cannot review every system available now.
Luckily, we have an expert panel doing all the hard work and providing you with the recommendations you are looking for. In this review, we have evaluated the trading performance, the approach used, and vendor transparency among other aspects. Our initial assessment of this system is that it has a few shortcomings that can prevent it from being the right system for you.
Besides the official website of XFXea indicating that it is powered by the Forexstore.com site, we could not find any other details about the vendor. Furthermore, the site does not reveal info about the developer or the team responsible for creating this system.
An online contact form is the only form of support offered here. We could not find a phone contact or location for the vendor. The absence of vendor transparency makes it difficult to assess the system. Without relevant information from the developer or vendor, we find this system is not reliable.
Claiming to provide regular profits irrespective of the market scenario, XFXea uses special algorithms and calculations. This ensures the losses are minimized. The vendor claims that even if some of the trades end in a loss, the system is equipped to cover the loss using its special algorithm.
Although the vendor mentions that the system does not use the Martingale principle, there is no mention of the precise strategy used. The entry points are calculated by forming a range based on certain bars. The system works on just two currency pairs: EURUSD and AUDUSD.
Purchase of this expert advisor will cost $260. The price covers a lifetime license, two supported pairs, MT4 and MT5 versions, a user manual, free updates, and 24/7 friendly support. A 30-day money -back guarantee is offered for this product. While the cost is expensive, the money-back assurance makes it a system you can rely on.
Backtesting results are displayed by the vendor on the official site. From the strategy tester report, we could see the modeling quality is only 90%. We prefer a 99.9% modeling quality as it provides better information on the spreads, commission, slippage, and other relevant details.
From the backtesting report shown below, we could see the testing of a one-hour timeframe was done for five years starting from 2014 up to 2019. The results show a profit factor of 2.06 and a drawdown percentage of 59.89%.
We also found real account trading results of this system verified by the myfxbook site. The USD Cent account on Metatrader 4 platform shows a profit percent of 2077.19% and an absolute gain of 1438.51%.
A daily profit of 0.33% and a monthly profit of 10.60% are shown. We found the drawdown is 53.37%. This high drawdown indicates the system uses a very high-risk approach which had caused the account to lose more than half of its capital.
Of the 449 trades executed, a profit factor of 1.66 has resulted. From the trading history, we could see the lot sizes range from 0.13 to 0.15 which is very high, and again point to a high-risk approach. Comparing the backtests and the real account trading results we could see the stats are more or less identical and indicate high-risk trading used by the system.
We could not find user reviews for this system on trusted third-party sites such as Forexpeacearmy, Trustpilot, etc. Reviews on such sites give a better insight into the performance of the system and the support provided. With the absence of reviews, we are unable to evaluate the system effectively.
XFXea Review Summary
Summing up our review of the XFXea system, we find that this is an automated system that uses a high-risk strategy. The high drawdown and large lot sizes are two factors that newbies and experienced traders will be comfortable with. While the verified trading results are in favor of the system, the stats do not give a promising outlook. Furthermore, the lack of vendor transparency and the absence of reviews for this system make it more difficult for us to recommend this system.