XFXea is a Forex robot that claims to have had no losing periods while trading in the live market. The vendor also claims that the EA can recover losses quickly using a special algorithm. Of course, we cannot trust these claims without analyzing the system at our end. In this XFXea review, we will be taking an in-depth look into the system’s performance to gauge its profitability.
XFXea: to trust or not to trust?
The vendor makes a very brief presentation on the official website, and we can see that some relevant information is missing. We have the links to a live trading account as well as a backtest and the vendor has shared the details of the pricing package. The lack of information on the official website makes us think that this EA is not trustworthy.
Features
This is a fully automated system trading in the EUR/USD and AUD/USD currency pairs. When XFXea suffers a loss, it tries to compensate for it in the subsequent trades with the help of a special algorithm. The vendor has not shared any details on this algorithm, but we can assume that it conducts some high-risk trades to cover the losses, which can be considered a risky approach.
For entry point calculation, the EA evaluates the bars on the chart, forming a range. It uses this range to determine when to enter the market. We think this is a very vague way of describing the trading approach and it does not give us a clear picture of how the EA analyzes the market. Since the vendor has not shared adequate details regarding the strategy, it becomes difficult for us to evaluate its profitability. Experienced traders often look for strategy insight and they will no doubt be disappointed at this.
XFXea costs $260 and it comes with a 60-day money-back guarantee. When you purchase this EA, you get a lifetime license and different versions of the EA for MT4 and MT5. The vendor also provides free updates and 24/7 customer support. However, since there is no contact information on the website, we don’t know through what medium the support is provided.
Verified trading results
This live trading account was launched on September 13, 2018, and to date, the EA has placed 550 trades through it. The win rate for this account is 66%, and the total profit is $12340.33. Currently, the daily and monthly gains are 0.30% and 9.42% respectively, while the profit factor is 1.67.
What is really alarming about the trading statistics is the extremely high drawdown of 53.37%. Very few systems trade with such a high drawdown and this would most definitely be considered a red flag by seasoned Forex traders. It indicates a high risk of ruin and trading with this EA can lead to huge losses.
We can confirm this by looking at the recent trading history where the robot has suffered consecutive losses. Some of these losses are quite large, and after looking at them, we can definitely say that XFXea is not a profitable robot.
This backtest was conducted on the H1 timeframe between 2014 and 2019 with 90.00% modeling quality. In the beginning, XFXea started with a balance of $5000 and after completing 1070 trades, it managed to generate a total profit of $167568874.97. The win rate for this backtest was 72.99%, which is slightly better in comparison to the live trading statistics.
Here, the drawdown is even higher at 79.93%. A robot having such a high drawdown can drain your account overnight, which is why you should stay away from it.
Vendor transparency
There is virtually no information on the parent company behind XFXea. The vendor has not shared the official address for the company headquarters and neither have they revealed the identities of the development team. We don’t know when the company was founded or whether the team has built automated systems in the past. Thus, we are terribly disappointed when it comes to vendor transparency.
Customer reviews
There are no user reviews for this Forex EA on third-party websites like Quora, Myfxbook, Forexpeacearmy, and Trustpilot. Therefore, it is evident that not many people are currently using this robot for live trading.