AX Trader is a Forex robot that promises to increase your account’s value without any modifications or interference from you. According to the vendor, the EA applies high- frequency trading and can make up to 39% profits monthly on your behalf. The team, however, emphasizes that the profits made with time are dependent on market movements, lot size chosen, and the account size.
AX Trader has two pricing options. The one-year membership plan costs $297, while the lifetime one is $497. The vendor says that the lifetime license plan is more popular and cost-effective. Purchasing any of the plans gives you immediate access to the members’ area, which contains the software, manuals, activation details, recommendations, etc.
Is AX Trader good?
Through our analysis of the robot, we have ascertained that it works with dangerous strategies (Grid+Martingale combo). Therefore, the EA can increase your trading risks and probably drain your investment with time.
Features of AX Trader
|Strategy||Fibonacci, Trend, Grid, and Martingale|
|Money refund||30 days|
Other described features of the EA can be found below:
- Trades on EURUSD, GBPUSD, AUDUSD, USDCAD, USDJPY, USDCHF currency pairs.
- Has built-in news detection technology that allows it to profit from extreme volatility.
- Adapts to conditions in the market, and therefore, settings don’t need to be tuned.
- Provides full installation guide, free updates, and customer support.
- Trades fully automatically. No monitoring or intervention is required.
What strategy does AX Trader use?
AX Trader combines two strategies (Trend and Fibonacci) to place regular and precise trades on the six major currency pairs mentioned in the previous section. The EA is particularly engineered to establish the overall direction the trend takes. At the same time, it dynamically modifies its entry points using data from Fibonacci calculations. However, the vendor fails to disclose that the Grid and Martingale approaches are applied as well.
Backtesting vs live trading results
Backtest results for this EA are unavailable. The vendor states that if you install the system using their recommendations, you can get similar average monthly returns as showcased in the live market. However, we would appreciate it more if the team posted the results for us to confirm their claim. This would also save traders the trouble of having to backtest the system themselves.
The Forex Robot has been operating on this account from April 2021 till the current days. For this period, it has placed 16109 trades, which indicates a frequent trader, as claimed by the vendor. A profit of $18899.33 was generated from a deposit of $5000. The drawdown (67.99%) was massive, illustrating that a high-risk approach was used. The win rates for long and short positions are 79% and 78%, respectively.
The EA trades between Sunday and Friday, with its activities peaking in the middle of the week.
The robot works with the grid and martingale strategies and generates little profits in the process.
The profits made have been decreasing with time, with December closing with the lowest profitability rate — 5.22%.
The core team
AX Trader is the product of LeapFX. The company has been in the market since 2018 and claims to have the ability to provide exclusive trading systems for Forex and crypto-currency trading. But we don’t know who the devs are, their location, trading experience, or contact address. This info is withheld from the public.