Robot Review: FX Splitter EA

Today I’m reviewing an expert advisor that utilizes a unique basket trading strategy built to increase profits at a steady rate, FX Splitter EA. The developers of the system believe that by playing their trades against other major currencies, that they’ll be able to provide a safe trading experience, while still maintaining overall account growth.

The creator, Dmitri Zaitsev, also owns ArgoLab, a development company that specializes in algorithmic trading strategies. I’ve reviewed one of their systems in the past, and in that review I made note to the fact that this is a Russian-based company, that has just started to market their products in North America in recent times. There is no head office location provided, but traders can get in touch with support via email, argolabnet@gmail.com.

FX Splitter EA Review

There isn’t a lot of discussion on the FX Splitter EA sales page in terms of strategy and product analysis, but that’s likely because the developers are of Russian descent. We are told that the system is built to place individual trades that fixed intervals, and then according to their algorithm or market conditions, the EA will either closer open more trades.

It is also important to note that this is a martingale strategy, “so, as the number of trades in the basket grows, new trade will be opened with increasingly larger lot sizes.” Then, with the entire basket reaches the take profit, then all of the trades are closed, and a new basket is started again.

In my experience in the Forex marketplace, a strategy that consists of both martingale and basket methodologies, is very high risk. While, a system like this could grow your account very quickly, it could just as easily go in the opposite direction.

Do not get involved with martingale trading systems, if you do not have advanced knowledge of the Forex markets, and the ability to step in and manually exit trades. I’ve certainly reviewed some higher risk trading systems lately, like Aqua Forex Trading, and BigBen Time EA.

Breakdown

• Type: Forex Robot
• Price: $169
• Strategy: Martingale/Basket
• Timeframe: H1
• Pairs: GBPUSD, NZDUSD, EURUSD, AUDUSD

At $169, the FX Splitter EA isn’t going to break the bank, but that doesn’t mean that we should sign up and utilize it in our daily trading. In fact, up until this point of the review, I have not been overly impressed by this offering, and there is more negativity in the trading results section, which I’ll jump into right away,

Trading Results

On the sales page, the developers don’t provide us with any trading results at all. They provide us with a screenshot of the software in meta-trader 4, to show us what it looks like on a chart, but that’s only part of the FX Splitter EA picture.

When it comes to trading results, I decided that I would look at independent sources, and the results are really disappointing. In the first section of this review, I discussed the high risk probability of all martingale strategies, and that’s certainly in line with the results posted on all of the independent sources.

The FPA account, is showing a 98% gross loss, over and 97.5 week period of time. Another testing website, showed 3 different tests, which all eventually ended up in the accounts blowing up.

The strategy is certainly high risk, and unless the developers make some modifications are updates, I don’t see this as a viable expert advisor.

Conclusion

At this point in time, I will not be recommending the FX Splitter EA to any of the readers here at Forex Robot Nation. Based on the trading results on independent testing websites, the EA is prone to blowing up accounts over a period of anywhere between 8 to 15 months. It’s possible that the EA performs well over short bursts, but that’s not the type of trading system I’m interested in utilizing in my own daily trading. I prefer systems that are much lower risk, while still providing upside.

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