FXMath X-Trader is a Forex robot for Metatrader 4 platform that is built on an advanced mathematical model and that promises to lower the drawdown while enhancing the profit margins. It is a 100% automated system that claims to possess a win rate of above 90%. The vendor states that this system helps users establish a steady source of income by trading in Forex pairs.
There are three distinct pricing packages for FXMath X-Trader, namely Silver, Gold, and Diamond. While the Silver package costs only $99 and gives you access to 1 real and 1 demo account, the Gold and Diamond packages cost $123 and $149 respectively. With these plans, you can use multiple real and demo accounts. The license key has lifetime validity, but no money-back guarantee is provided by the vendor.
FXMath X-Trader Trading Strategy
FXMath X-Trader is a robot that searches for the direction in which the trend is likely to move in the near future and opens orders in a fixed amount of time. The signals are calculated based on precise mathematical formulas, and this allows it to close most trades in profits. It is extremely simple to install this robot, and the system parameters can be altered by the user if needed.
Customer support is provided to users on a 24/5 basis, and you can reach out to them and seek assistance for any issue you might face. The development team works tirelessly to ensure the system is combative based on the current market conditions. Although a broker is recommended by the vendor, you can use the robot with any broker of your choice.
We don’t have any information related to the trading strategy on the official website, so we have no idea how the robot carries out its market assessment or how it manages to spot profitable trading opportunities. The vendor should have at least revealed the name of the strategy and the indicators that are used by the Forex EA.
FXMath X-Trader Features
To trade with FXMath X-Trader, you need access to an MT4 account with leverage of 1:100 to 1:1000. It trades mainly in the EUR/USD pair, but you can also use it for other pairs. It operates on real live accounts and is capable of adapting itself to shifting market scenarios.
This robot scans the market the whole day to find profitable trading occasions. You can use a mini, micro, or a cent account for trading with this robot. It is compatible with operating systems like Windows 2003, XP, Vista, 7, 8, and 10. Since it is a fully automated system, you just need to press a few buttons after running the installer, and the robot will place trades while you carry on with your daily life.
FXMath X-Trader Backtesting Results
This backtest was conducted on the EUR/USD pair from 2018 to 2020 with a modeling quality of 90%. During this time, 295 trades were placed in total by the robot, out of which 273 were won. This means the system had a high win rate of 92.54% during this backtest.
The total net profit generated was $44472.14, and this was achieved from an initial deposit of $99. There were 32 maximum consecutive wins and only 1 consecutive loss. While the relative drawdown was moderate at 23.43%, the profit factor was astonishingly high at 68.85.
FXMath X-Trader Live Trading Results
Here we have live trading results for a live trading account that has been independently verified by the Myfxbook website. It has been operational since 29th November 2020, and to date, it has placed only 53 trades. Although the trading history is quite short, we can see that a sizable profit of 7559 Rubles has been generated, along with a time-weighted return of 143.12%.
The robot has won 96% of all trades it placed through this account, with the average win being 20.85 pips/RUB150.71. At this moment, the daily and monthly gains are 0.66% and 22.72%, respectively, while the drawdown of 19.11% is low compared to what we saw in the backtesting data.
FXMath X-Trader Reputation
On the official website, the vendor hasn’t revealed any information about the company’s background, location, and service history. We have no idea whether there are other Forex EAs manufactured by this company.
We found a single user review for this Forex EA on the Forexpeacearmy website. The user has stated that the vendor refused to refund their money. It has also been mentioned that they are not able to resolve the errors in the system.
FXMath X-Trader Review Summary
- Strategy – 4/10
- Functionality and Features – 7/10
- Trading Results – 7/10
- Reliability – 5/10
- Pricing – 7/10
Conclusion
FXMath X-Trader certainly does not seem like a scam service, but since it has not been trading live for too long, we think it is a bit risky to invest in it right now. You should observe the live performance for a while before committing to this software.
