Today I’m reviewing a new Forex robot that claims to be the best in the market because of their unique trading algorithm, FX Ekspert Moving Average EA. One of the unique aspects of the software, is that the system allows traders to choose between multiple risk profiles, so that they can modify the risk reward ratio to suit their personal trading style. I’ll elaborate on this a little more as we make our way through the review.
Much to my disappointment, this is another vendor that isn’t providing us with any information about who they are, what type of trading experience they have, or any other pertinent details that may assist us in making our decision. The only information I was able to come across, was the WHOIS record, for the domain show that they are server was located in Harjumaa, located in Northern Estonia. In order to get in touch with support, traders can fill out a contact form or email directly at email@example.com.
FX Ekspert Moving Average EA Review
The creators of the FX Ekspert Moving Average EA want the community to know that their software is compatible with every single brokerage in the marketplace. They claim that their system is not spread dependent, and that it will work the same on any MT4 account available. This compatibility is important to the developer, because they’ve seen too many expert advisors in the past be broker dependent, and leave traders in a position where they are forced to use a broker they do not trust.
In terms of trading strategy, the developers provide us with very little information. They frequently mention the fact that they utilize a unique algorithm, but they never elaborate on what that algorithm is, or what type of trading strategy it subscribes to. Seemingly, we are dealing with another Forex robot developer that feels the need to hide behind a veil of poor information. Considering that there are other expert advisors in this marketplace, I’m not sure why any vendor would release a product without any real detail or explanation.
All we really know about the software, is that it comes with an automatic lot size calculator, and that traders can choose between 3 different risk profiles. The low risk profile provides an average monthly profit of 20%, the medium risk profile 30%, and high risk profile 40%. None of these numbers are proven.
- Type: Forex Robot
- Price: $199
- Strategy: Undisclosed
- Timeframe: M30
- Pairs: AUDCHF, AUDJPY, AUDNZD, EURCAD, EURCHF, EURGBP, NZDCAD, NZDCHF and USDCAD
For $199, traders get access to the FX Ekspert Moving Average EA, one real account, unlimited demo accounts, free updates for life, and a 60 day moneyback guarantee. Developers claim that this special offer is regularly priced $399, but for a limited time it is available for $199. It’s a good thing that they discounted the software, because I wouldn’t consider it at all, if it was any higher than it’s currently priced. Even at its current price, there’s very little likelihood that I’ll be signing up with this program.
The vendor is currently providing us with one Myfxbook account, that’s been running since early May, 2018. This is a real (USD Cent account), and that is showing a gain of just over 120%, with a substantial drawdown of almost 70%.
In looking at the charts, you can see that the FX Ekspert Moving Average EA obviously holds open trades in drawdown at just about every junction. While the gain is 121%, as I’m looking at the account today, the absolute gain is much lower at 47.96%, because the EA is always holding losing trades open.
Another important aspect, is that the EA hasn’t traded since September 13th, 2018. The vendor has not provided us with an explanation as to why their only trading account is no longer trading, but this is certainly a concern.
While I have some interest in the FX Ekspert Moving Average EA, I find that my review is leaving me with even more questions than I had before I started it. The vendor is doing a very poor job at providing us with transparency, which is one of the most important aspects of any investment opportunity. The people behind the software need to tell us why the software stopped trading, and a need to provide us with much more information about themselves, and the system. They essentially want us to go into this investment blind, but I see no reason to spend $200 for something I know nothing about.
If you have anything you would like to add to the review, please leave your questions and remarks below the article now.