Aspex FX is a fully-automated expert advisor that trades on the H4 charts. The vendor recommends trading on the following currency pairs for optimality: GBP/JPY and GBP/USD.
The product has an advanced risk and lot management system that it uses to pick the correct lot size based on the account size. We will give a detailed review of their robot below to help you make a good purchase decision.
Vendor transparency
The robot has been developed by a team of developers who got into the Forex software industry in 2017. Other than that, no more information like email, identities, whereabouts, etc., that certifies the sellers has been provided.
How Aspex FX EA works
The robot comes with the following main features:
- It is 100% automated.
- It can trade on multiple timeframes (recommended: H4).
- It is very easy to install and use.
- It trades across numerous currency pairs.
To install the EA, use the following steps:
- Purchase the robot from the website
- Download the EA files on your PC
- Launch MT4 platform
- Drag the files onto the charting section and enable auto-trading
The algorithm will scan the market according to the coded information and place executions accordingly.
Timeframe, currency pairs, deposit
The algorithm does not require any specific amount for a minimum starting deposit and shows a leverage value of 1:500. It can trade on all timeframes, but H4 is recommended. As for currency pairs, it can trade on all types, but it is advised to use GBP/JPY and GBP/USD.
Trading approach
The developer states that the robot trades on the H4 chart on all currency pairs. Other than this, there is no information on the strategy, so we have reviewed the live records on the MQL 5 website.
Over there, we have observed that it uses a grid and martingale approach. The trades do not come with a fixed stop loss, leading to a high drawdown.
Pricing and refund
The robot is sold in two packages. 1 activation account is sold for 499 USD, while 2 keys come for 899 USD. Both offer unlimited usage post-purchase. Payment methods like Visa, PayPal, MasterCard, Discover, American Express, & Union Pay, etc., are accepted. This EA is priced very high compared to its competitors in the marketplace.
Trading results
Unfortunately, no backtesting records have been provided for the product, which points towards a lack of transparency by the vendors. This also raises concerns about the robot about performance indicators like drawdown value, profit factor, historical win rate, etc.
However, we have analyzed the signal’s performance on MQL5, which shows a disastrous growth rate of -96.66%. The maximum drawdown experienced by the system is 99%, which shows that the account has reached the margin call. The initial deposits of 24 201.43 USD have been turned into a loss of -22 402.73 USD. This indicates the very feeble risk to reward ratio of the system. The average holding time of the robot is 16 hours with an average loss value of -1821.78 USD that exceeds the average profit value of 335.20 USD by a large margin. These stats show that this algorithm has abysmal performance.
People say that Aspex FX EA is…
Doubtful. One customer review is present on the Forex Peace Army website, where the trader labels it as a dangerous and terrible system.
Verdict
Advantages
- 100% fully-automated
Disadvantages
- No detailed backtesting records
- No verified live trading results
- Very low transparency by vendors
Aspex FX EA Conclusion
AspexFX uses a very unclear strategy and vague techniques with no transparency on the developer. The company does not provide verified results and records. Also, the highly negative reviews from users cast a very negative outlook for this robot.
