FXMath X-Trader promises to meet your trading needs. The vendor wants you to believe that the robot can give you a positive trading experience by generating large profits. As a result, you can begin enjoying your financial freedom. We will check the veracity of these claims in this FXMath X-Trader review.
Vendor transparency
We don’t know who the vendor of this robot is. Such info is missing on the sales pitch. Consequently, it is impossible to determine the company’s location, year of foundation, and reputation, among other details.
How FXMath X-Trader works
FXMath X-Trader has several key features, which we are underlined below:
- It works on real live accounts.
- The system adapts itself to changing market conditions.
- The EA runs on the MT4 account with a leverage of 1:100-1:1000.
- It assesses the market 24 hours.
- The FX tool supports any MT4 brokerage account without errors.
- Account type supported: cent, micro, mini, standard, Pro, or ECN accounts.
- The robot operates with any MT4 broker.
Timeframe, currency pairs, deposit
The basic currency pair that this EA uses is EURUSD. However, it can also work with other trading instruments. The devs don’t stipulate which timeframe the bot uses. Neither do they say the minimal deposit needed to initiate trading.
Trading approach
The EA’s trading approach is not disclosed. The devs need to be considerate enough and explain to the community how their tool searches for trades. Nonetheless, as we assessed the robot’s statistics in the live market, we noted that the grid approach is part of the scheme. It’s unfair that the vendor is willing to hide this info and still expects traders to pay for the product. Traders need to know what they are getting themselves into beforehand, and the lack of transparency puts them at a disadvantage.
Pricing and refund
FXMath X-Trader has three main pricing options. The cheapest one asks you to pay $99 for the lifetime license. In return, you will receive 1 real account and 1 demo account. The other packs, namely Gold and Diamond, cost $123 and $149, respectively. They afford you more real and demo accounts. A money-back guarantee is not mentioned, though. So, it is pretty much nonexistent.
Trading results
This backtest began with a deposit of $99, and by the end of the testing period, a profit of $44472.14 was generated. The EA managed to complete 295 trades and attained a profitability rate of 92.54%. The results for the average profit trade ($165.30) and the average loss trade (-$29.80) also tell us that the strategy made more wins than losses. There was a drawdown of 23.43%, which meant that the algorithm didn’t trade dangerously.
The above account was opened in October 2021 and deposited at $1,956.08. To date, the robot’s activities have led to a profit of $2,843.15. However, we are not told the amount of loss made. A total of $4,799.23 is still available for trading.
For the 67 days the robot has been active, it has grown this account by $145.3% after winning 85% of the trades. The profit factor, which is 60.59, portrays the system as highly profitable. But with no drawdown value, it becomes hard to gauge the levels of risks involved in trading.
The EA worked with fixed lot sizes and a grid of orders.
The account has a healthy risk/reward ratio of 1.67. The average win is $170.05, whereas the average loss is -$15.90. As per the stats above, there’s a 30.7% chance of losing the account. The worst day reported a profit of $1.52, whereas the worst week made profits amounting to $78.5.
October is the most profitable month so far. The system really struggled to make profits in November.
People say that FXMath X-Trader is…
An ineffective EA. The tool has several reviews on FPA, but based on the 2.0 rating, it is clear that a majority of the traders are not satisfied with its services. One trader doubts the credibility of the published backtest data and complains of losing $2k within 2 days. Another one says the EA opens one buy position after the other without a real strategy. It has also generated a high drawdown. The client states he will disable it if the account survives the drawdown. The only positive review claims that FXMath X-Trader is one of the best Forex EAs and generates good profit.
Alt: Customer reviews.
Verdict
| Pros | Cons |
| Fully automated | Negative feedback from customers |
| Backtest results are posted | Grid on the board |
| The vendor is unknown |
FXMath X-Trader Conclusion
The EA’s historical and current performance looks promising. However, real traders disagree. In fact, one claims that the backtest data is fake. Furthermore, the clients claim to have lost substantial money while using the tool. Lastly, we have to emphasize that the grid strategy is present. This approach is known to blow up accounts.
