FXMath X-Trader EA Review

FXMath X-Trader is a Forex EA built for the MT4 platform. This “perfectly automated algorithmic trading system” is built to help traders skip all the leg work which is required in manual trading. Traders don’t have to understand how to interpret trends, market changes or invest long hours in order to maximize their returns. Today we will be providing a complete review and letting you know if this service is meeting client expectations.

At this point we do not know who the creators of the service are, or where they are located. The Google Maps function on their website is showing an error, and they don’t provide any detail about their experience in the Forex marketplace. These are definitely aspects that need to be resolved if the vendors want to be taken seriously.

In order to get in touch with support, traders can email fxmathxtrader@gmail.com.

FXMath X-Trader EA Review

The first impression isn’t all that positive, as the FXMath X-Trader website is poorly thrown together. The design elements are unorganized, there are buttons that don’t even work, and random images of landscapes that make no sense within the presentation. It’s clear that whoever put the website together has little to no experience doing so. This shows poor judgement, and likely a company that isn’t doing very well, as they can’t hire a website designer to do this portion for them.

There are 4 key features that the vendor wants to get across to all potential clients. They instantly activate your trading accounts, provide 24 hour support, free upgrades and are compatible with all MT4 brokers.

These features are common place with just ever best Forex robot in the market, so they don’t really set this developer ahead of any of them.

Strategy

Surprisingly, the FXMath X-Trader EA development team do not provide any details about their trading strategy. This is a major flaw in the presentation, as automated Forex traders require this information in order to make a decision.

The only thing the vendor tells us is that the software is automated, but this is something we already know. They need to tell us why it makes the trades that it does, in at least a few paragraphs.

This lack of information is unacceptable. The vendor is nowhere near where they need to be if they truly want to compete in this market. Even robots we give a bad rating for strategy offer more than this, as you can see in our recent reviews of The Skilled Trader, Forex Pro Island and Best FX Tools.

Analysis

• Type: Forex Robot
• Price: $99-$149
• Strategy: Undisclosed
• Timeframe: Undisclosed
• Pairs: USDJPY

For traders interested in the FXMath X-Trader EA, it can be purchased at a reasonable price via multiple packages. The Silver package goes for $99, providing 1 real account and 1 demo account license. The Gold package goes for $123, providing 2 real accounts and 2 demo account licenses. Lastly, the Diamond package goes for $149, providing 3 real accounts and 4 demo account licenses.

Payments can be made via 2checkout, and there is no mention of any refund policy.

Client Feedback

We only found a single client review which came from a client claiming that they couldn’t get the software to work, and that the vendor wouldn’t provide a refund. He even says that he gave the vendor access to the VPS, and they weren’t able to get it to work either. The vendor did not respond to the 1 star review which isn’t a good sign.

Trading Results

The FXMath X-Trader EA team provide a single FX Blue account which is showing a 1540% gain in just over a year. Most of this gain happened in the past couple months as they hit a major spike in profits the week of March 8th. There isn’t any explanation as to what happened then, which would be helpful to know.

The software places .4 trades per day, which comes out to a total of 162 trades over 461 days. The win rate is 72% on these trades, with an even risk reward ratio of 1:1. The average trade length is 40.7% and the “risk of ruin” is 82.2%. Which means, the FX Blue platform believes there is an over 80% chance that the account will blow up, based on how it’s traded up until this point.

Conclusion

As it stands, there are currently more concerns about the FXMath X-Trader EA than their is positive feedback. While we appreciate that they provide us with trading results, there are many other aspects of this presentation that simply don’t meet the current market standard. We do not recommend this service at this time.

If you have anything you would like to contribute to the review, please leave your questions and remarks below the article now.