Expert AdvisorsForex

Aspex EA Review: Things You Need to Know Before Investing

3 Mins read
3.2

Aspex EA claims to provide a complete FX solution for traders with its low risk, high returns, and consistent results. It is a fully automated expert advisor that assures high profits without any effort on your part. The MT4 tool is easy to install and use. As per the vendor, this FX EA uses a trend-following method for ensuring accurate entries and exits.

Aspex EA trading strategy

A pure trend-following approach is used by the FX robot. It also uses advanced risk and lot management. The vendor recommends the use of a proper lot based on the size of your account. There is no further explanation of the approach present.

Aspex EA backtesting report

No backtesting reports are present for this FX EA. Backtesting results help to understand the strategy and its efficacy. The lack of backtests makes it difficult to evaluate the strategy.

Aspex EA live results

We could not find live trading results verified by reputed sites like myfxbook, FXStat, FXBlue, etc. We prefer verification by such sites as they help to know how effective the system is and its reliability. However, the vendor provides a live signal of the EA on the MQL5 site. Here is a screenshot of the signal:

Trading stats of Aspex EA on the MQL5 site
Trading stats of Aspex EA on the MQL5 site

From the above stats, we can see a loss of 100% is present for the account that started in December 2021. For an initial deposit of $24,201.43, the account shows a loss of $23,109.63. The drawdown is 99.85. From the stats, the profitability is 82.07% and the profit factor is 0.86. A total of 502 trades were executed with a monthly loss of 95.66%. From the results, it is clear the approach is bad and can wipe out your account easily.

Some features of Aspex EA

Some of the key features of this FX EA that make it competitive as per the vendor are:

  • It works on all currency pairs but the vendor recommends the use of GBPUSD and GBPJPY pairs.
  • The H4 timeframe is used by the FX robot although it can work on all timeframes effectively.
  • As per the vendor, the system has the best profitability in the market ranging from 90 to 95%.

We could not find info on the leverage recommendation and the brokers compatible with the EA.

Total return-99.62%
Maximal drawdown 99.8%
Average monthly gain -95.66%
DeveloperAspexFX
Created, year2017
Price$499 – $899
TypeTrend-following
TimeframeH4
Lot sizeBased on the account size
LeverageN/A
Min.depositN/A
Recommended depositN/A
Recommended brokersN/A
Currency pairsGBPUSD, GBPJPY
ECNN/A

Main things to consider if you invest with Aspex EA

If you are interested in this EA, then you need to pay attention to:

Vendor transparency

As per the info available on the official site, the FX robot is developed by a team of skilled software programmers. Since 2017, the team has been using its experience and expertise in creating FX solutions that ensure consistent profits. We could not find info on the team members, their experience, and their expertise. There is no location address or phone number present. For support, an online contact form is present. 

High drawdown

No real trading results verified by sites like Myfxbook, FXBlue, FXStat, etc. are present. However, a live signal of the product is found on the MQL5 site. The high drawdown and losses in the account indicate an ineffective performance.

Pricing and refund

Pricing starts from $499 which we find is quite expensive when compared to the market average. Furthermore, the vendor does not offer a money-back guarantee. 

Pricing details

To purchase this FX EA, you can choose from the two packages available. For activation of one account of the robot, the package costs $499. The cost is $899 for the activation of 2 accounts. Both packages come with unlimited usage. No refund policy is present for the system. When compared to the price of competitor systems we find the pricing is expensive.

Other notes

User review for Aspex EA on the Forex Peace Army site
User review for Aspex EA on the Forex Peace Army site

We found one review for this FX EA on the Forexpeacearmy site. As per the review, the user claims that his account burned in less than a month. He complains that it is a scam and that traders should avoid it.

Aspex EA Summary

3.2
Aspex EA claims to provide consistent and verified results. However, our evaluation of the system reveals that there are no backtests or real trading results verified by sites like Myfxbook, FXBlue, etc. The live signal of the robot on the MQL5 site shows the account is wiped out. Other downsides of this EA include the negative user review, expensive pricing, and the lack of a refund offer.
3.0

Functionality

3.0

Reliability

3.0

Strategy

4.0

Price

3.0

Trading Results

3.0

Vendor Transparency

Pros

  • +A fully automated software
  • +Works on all currency pairs and timeframes

Cons

  • -No verified trading results
  • -Expensive pricing
  • -No refund policy
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