We’ve prepared a review of an IndEX EA for you.
The robot was introduced as the most powerful trading strategy ever existed. The service is subscription-based.
IndEX EA Trading Strategy
The company works on a weighted Index value that calculates relative strange for every symbol. The strategy allows trading GBP/JPY, EUR/JPY, USD/JPY, EUR/USD, GBP/USD, EUR/GBP, and XAU/USD. The EA trades pairs when one of the index components strengthens and the other weakens.
- The robot trades volatility of GBP/JPY and Gold based on the next symbols: USD/JPY and XAU/GBP. The robot trades them on the H1 time frame.
- The EA works with volatility on the USD/JPY symbol, trading on the daily time frame. So, there’d be high requirements for margin to cover ups and downs.
- The robot trades trend strategy on the EUR/JPY trading pair.
- It looks for swing opportunities on the EUR/USD, GBP/USD, and EUR/GBP symbols.
IndEX EA Features
Let’s talk about the list of features:
- The robot opens a trade only if there are opportunities to reach over 150 pips’ goals.
- The EA needs to be attached to one chart only. It automatically monitors ten different currency pairs to derive the index values of the five currencies and trades multiple pairs automatically.
- GBPJPY, EURJPY, USDJPY, EURUSD, GBPUSD, EURGBP, and XAUUSD trades based on currency index system, which calculates the relative strength of EURO, GBP, USD, CHF, and YEN.
- The robot can reach the 200-400 monthly pips goal.
- An average trade frequency is 3-4 trades weekly.
- They suggest a 95% win-rate on their robot trades.
IndEX EA Backtesting Results
This report was generated based on trading all symbols at once. They chose the period of 2007 – 2018 years. During the period, the robot gained 53760 pips in 2546 trades. The maximum drawdown was 1373 pips. An average win (123 pips) was twice higher than an average loss (-67 pips).
IndEX EA FX Blue-Verified Trading Results
We’ve got a widget of fx blue on their site. It was a demo USD account that failed. It was started on February 17, 2020.
If we talk about monthly gains, the robot has never been a consistently profitable trading solution.
It trades seven symbols: EUR/GBP, EUR/JPY, EUR/USD, GBP/JPY, GBP/USD, USD/JPY, and Gold. The total net profit is -4.1%. The average monthly return is -0.8%. The maximum drawdown was 18%. The robot could win only 42.4% of the deals. The average trade frequency is 0.6 trades a day.
It’s kind of funny because the only profitable symbol is GBP/JOY (+$1081). The rest were lost ones.
The robot trades both directions badly.
FXBlue said that there was just a single strategy behind the system.
During Wednesday and Thursday, the EA closes the most deals.
The most frequently-traded hours are 1 p.m., 3 p.m., 5-7 p.m.
Only two months from ten were okay. The rest was just wasting money.
IndEX EA Reputation
The company provides additional service that unites many activities like checking a trading style, trading activities, order execution, broker parameters, and others to find the best way to help a trader (based on strategies they put in the robot).
Pricing
The robot sells in three subscription-based packages that vary by time.
All of them are featured by:
- We’re allowed to trade EUR/GBP, EUR/JPY, EUR/USD, GBP/JPY, GBP/USD, USD/JPY, and Gold.
- We have two licenses for real and demo accounts.
Let’s talk about pricing:
- The three-month subscription guarantees 600 pips for this period and costs $270.
- The half a year subscription costs $378 and guarantees 1500 pips.
- $540 costs the annual subscription with 3000 pis guaranteed.
IndEX EA Review Summary
- Strategy – score (1/10)
- Functionality & Features – score (0/10)
- Trading Results – score (0/10)
- Reliability – score (0/10)
- Pricing – score (1/10)
Conclusion
It’s a scam. The robot couldn’t trade as cool as developers explained strategies and ways they came up to make everything worked. The presentation looks cool and fundamental, but reality spoils everything. It looks like the developers don’t know how to improve the EA’s design to remove lost months and improve at least win-rate in general. Few robots have that little win-rate for both directions and across all symbols. Now, this robot costs nothing as well as its subscriptions.
