FXHT MultiCurrency EA is an automated system designed to work with any high volatility pairs like the EURUSD symbol. The presentation doesn’t include any promises on the amount of profit it will earn for you, though.
FXHT MultiCurrency EA: to trust or not to trust?
While this EA is completely hands-free and cheap, it has some shortcomings, which you should be wary of. Apparently, it employs the grid approach, which the vendor denies. This method is risky for the most part. So, a single huge loss arising from the grid element can significantly reduce the profits made. You will get more insight into this concept when you get to the ‘trading results’ section.
The features of the bot, as stated by the vendor, are summarized below:
- It’s compatible with all brokers.
- The system does not use martingale, grid and hedging strategies in trading.
- It trades the market automatically 24/5, and you don’t need to optimize it.
- Each pair requires a minimum deposit of $500.
- The recommended minimum leverage is 1:30, while the suggested minimum lot size is 0.01.
The system works with the intraday scalping strategy. This is a simple method that entails capitalizing on the constant market activity by placing and closing trades within seconds or minutes. The goal is to obtain profits from small market activities.
FXHT Multicurrency EA is available at a price of $120. It was previously sold at $400. A money-back guarantee is absent.
The EA was backtested between October 2021 and March 2022; that’s about 5 months. We don’t need to tell you how short this trading period is. This is a big disadvantage because the period captures a few market conditions, so it’s highly likely that the impressive outcomes generated will not be reproduced in the live market.
The system began trading with a capital of $1000, and by March, it had grown to reach $39768878.83, a very unrealistic figure. The monthly profit was 768.33% compared to a drawdown of 25.44%. The overall total gain was +3.98M%.
A total of 2618 trades were completed, attaining win rates of 97 percent for long positions and 98 percent for short ones. There was a big profit factor of 4.67 and 524447.01 traded lots. The average trade length at the time was 5 hours and 27 minutes.
The above demo account was active between December 2021 and February 2022. As you look at the stats, you realize that they are really different from the ones generated in the backtest period. In this case, the EA made a monthly profit of 34.77%, which varies greatly from the 768.33% monthly profit generated during simulation. The total gain (93.19%) in the live market was also far much lower than the 3.98M% gain reported during backtesting.
In any case, the system used a deposit of $5000 to produce a profit of $4659.68, increasing the balance to $9659.68. No money was withdrawn from the account.
The system implemented 934 trades with an average trade length of 11h 15m. The profit factor (1.84) was a far cry from the one we have observed in backtesting. The win rates for long and short positions were 74% and 88%, respectively. A total of 1401.7 pips were won.
The account incurred some huge losses just before the vendor decided to deactivate the bot. The system failed to meet most of the take profit target levels, and the losses almost wiped out the gains. Some elements of the grid are evident, which disproves the vendor’s statement that such a method is not used.
The drawdown generated by the EA during its activities in the live market was below the 30% mark. This is usually a safe zone for traders who don’t like working with high risks.
This system was created by the FXHT team, but there’s absolutely no info about the individual members. Not their names, career profiles, location, reputation, trading experience, nothing. The only obvious thing is that the team is also responsible for developing other tools like ProHT Trend EA, Rotterdam EA, Scalping EA, and Holland Trader EA.
No trader has commented about the features or the performance of this robot in the live or past market on Trustpilot or Forex Peace Army.