Expert AdvisorsForex

FXMath X-Trader Review: Things You Need to Know Before Investing

2 Mins read
4.8

FXMath X-Trader is a Forex expert advisor based on mathematical models. According to the developer, the system delivers the highest possible profit while limiting the drawdown. It performs signal calculations based on math. 

FXMath X-Trader trading strategy

This EA uses some form of trend trading strategy. However, the vendor has not clearly explained it. We don’t know how the robot gauges the direction of the trend and whether it takes the help of any indicators.

FXMath X-Trader backtesting report 

Backtesting results of EUR/USD
Backtesting results of EUR/USD

From January 2018 to November 2020, this EA conducted a backtest for the EUR/USD pair where it placed a total of 295 trades. Using an initial deposit of $99, it generated a total net profit of $44472.14. It had a high win rate of 92.54% and a profit factor of 68.85. The drawdown was a bit high at 23.43%, indicating a high risk of ruin.

FXMath X-Trader live results 

Growth chart of FXMath X-Trader
Growth chart of FXMath X-Trader

This live trading account on FXBlue has a short history of 74 days. The EA has conducted only 23 trades through this account, winning 20 and losing 3. As a result, it has generated a total profit of 3382.57 rubles. Although it has a high win rate of 87%, this is based on a small sample size of trades and the EA has not been exposed to different market conditions. The daily, weekly, and monthly returns for this account are 1.88%, 9.74%, and 47.77%, respectively. 

Trading results of FXMath X-Trader
Trading results of FXMath X-Trader

We can see from the trading history that this EA does not trade too frequently. For the months of October and December, it placed eleven trades each, while there was only one trade placed in November. 

Some features of FXMath X-Trader 

FXMath X-Trader works primarily on EUR/USD, but according to the developer, it is possible to use it on other pairs as well. It is compatible with the Metatrader 4 platform where it trades with leverage of 1:100 to 1:1000. You can run it on any MT4 brokerage account without errors. It supports different types of accounts like cent, micro, mini, standard, pro, and ECN. The operating systems supported by the robot include Windows 7, 8, 10, 2003, Vista, and XP.

Total return172.9%
Maximal drawdown N/A
Average monthly gain 47.77%
Developer N/A
Created, yearN/A
Price $99
Type Trend
TimeframeN/A
Lot size N/A
Leverage 1:100 – 1:1000
Min. deposit N/A
Recommended deposit N/A
Recommended brokers Any
Currency pairs EUR/USD
ECNYes

Main things to consider if you invest in FXMath X-Trader 

If you are interested in this robot, you should consider the following factors:

Short trading history 

The live trading account of FXMath X-Trader has only been active for 74 days. This makes it difficult for us to accurately gauge the profitability of the system. A robot can generate huge profits for a few months then fail miserably when the market conditions change. This EA has not yet faced different market scenarios.

Continuous upgrades 

The dev team never stops improving this expert advisor. Based on the market conditions, they introduce new features and make the necessary changes. This makes the system suitable for long-term use.

Broker compatibility 

This EA is compatible with all Metatrader 4 brokers. You can use any broker of your choice or the one recommended by the vendor. Upon the release of new versions, all buyers receive free updates.

Pricing details 

The three pricing packages for this EA are known as Silver, Gold, and Diamond. You can purchase these lifetime plans for $99, $123, and $149, respectively. With the Silver plan, you get access to a single real account, while the Gold and Diamond plans let you access two and three real accounts, respectively. There is no money-back guarantee offer for this EA.

Customer reviews 

User reviews for FXMath X-Trader on FPA
User reviews for FXMath X-Trader on FPA

On the Forexpeacearmy website, there are a total of four reviews for this EA, which indicates a lack of reputation. Users have claimed that the backtesting data is false and that they suffered heavy losses while trading with this robot.

FXMath X-Trader Summary

4.8
FXMath X-Trader is a robot that has only recently been launched in the Forex market. It has not proved itself profitable in different market scenarios and we don't exactly know what strategy it follows. Furthermore, the vendor does not offer users the protection of refund policy.
4.0

Functionality

4.0

Reliability

4.0

Strategy

7.0

Price

6.0

Trading Results

4.0

Vendor Transparency

Pros

  • +Verified trading results

Cons

  • -No money-back guarantee
  • -Lack of strategy insight
  • -Short trading history
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