Foreximba Review: Does It Win or Lose?

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Foreximba

Foreximba is an FX robot designed to provide maximum profits and minimal losses as per the vendor. The system has a simple setup that allows even a beginner trader to use it easily. It works on the EURUSD and AUDUSD pairs. The vendor provides backtesting results and verified real trading stats for the EA. However, the results show a risky approach and there are no details of the company provided. 

What is Foreximba?

As per the vendor, the FX EA works effectively to provide stable and profitable results. The key features that make this ATS competitive are:

  • It uses a fixed lot size for the trades.
  • It does not use dangerous approaches like the Martingale method.
  • Drawdown control is present ensuring the risks are minimized.
  • It is compatible with all broker types.
  • The AUDUSD and EURUSD are the main currency pairs the system works on.
  • A minimum deposit of $60 is recommended by the vendor.

There are no details present on the recommended leverage, timeframe, etc. 

Official Foreximba website

The official website has a simple design with all features like the backtests, trading stats, contact info, etc. present on a single page. While navigation is easy, there is very minimal info revealed about the FX EA. Regarding the company, this FX EA is promoted by the ForexStore group. The website domain shows registration from 2015 to 2022. We could not find info on the company like its location, team member info, founding year, etc. 

How can we use Foreximba? 

Due to the minimal info revealed by the vendor, we could not find the working method of the system. From the info made available by the vendor, you can start using the ATS with a minimum deposit of $60. The simple installation process enables you to get started quickly. The drawdown control and fixed lot size ensure stable and profitable trading according to the vendor.

Pricing & refund

You can purchase this FX EA for $194.99. The features you get with the package include a lifetime license for a real account, three demo account lifetime licenses, a user manual, and friendly support. A 30-day money-back guarantee is present. When compared to the price of other similar systems in the market, we find the price is a bit on the higher side. 

Trading strategy

The vendor does not reveal the strategy used by this system. But backtests are present on the official site for the two currency pairs the ATS works on. Here is one of the strategy tester reports:

Backtesting result of Foreximba on the official site
Backtesting result of Foreximba on the official site

From the above stats, we can see that the backtesting was done on the AUDUSD pair using the M30 timeframe. The testing was done from 2013 to 2015 using the ‘Every Tick’ model and a modeling quality of 90%. For an initial deposit of $1000, the total net profit generated was 4565344. A profit factor of 3.10 and profitability of 77.68% was present for a total of 869 trades. The maximum drawdown was 26.11%. From the results, we can see that the profits were high. But the drawdown is also a bit high indicating a risky approach was used.

Current performance 

A few real trading results verified by the myfxbook site are present on the official site. Here is a real USD account using the FXOpen broker and the leverage of 1:500 on the MT4 platform. 

Growth curve of Foreximba on the Myfxbook site
Growth curve of Foreximba on the Myfxbook site
Trading stats of Foreximba on the Myfxbook site
Trading stats of Foreximba on the Myfxbook site

From the above stats, we can see the total return is 185.19% and the absolute profit is 16.70%. The big difference between the two values looks suspicious. Further, the stats reveal a high drawdown of 64.22% which is very high and shows a high-risk approach is used by the system. For a total of 980 trades, a profitability of 70% and a profit factor of 1.01 are present. From the trading history, we can see varying lot sizes ranging from 0.34 to 0.67 are used. The big lot sizes, high drawdown, and discrepancy in the absolute and total profits show the system uses a risky approach.

What are the real customers saying about Foreximba?

Unfortunately, we cannot find user reviews for this FX robot on trusted sites like Forexpeacearmy, Trustpilot, etc.

Summary: is Foreximbaa trustworthy EA?

Foreximbaa
2.2 5 0 1
Foreximba has backtesting results and a verified track record to prove its efficacy. Our analysis of the backtests and real trading stats reveal a risky approach. Further, the vendor does not disclose the strategy info. Another downside of this FX EA is the lack of vendor transparency.
Foreximba has backtesting results and a verified track record to prove its efficacy. Our analysis of the backtests and real trading stats reveal a risky approach. Further, the vendor does not disclose the strategy info. Another downside of this FX EA is the lack of vendor transparency.
2.2 rating
2.2/5
Total Score
  • Strategy
    2.0 rating
    2/5 Bad
  • Features
    2.0 rating
    2/5 Bad
  • Trading Results
    2.0 rating
    2/5 Bad
  • Reliability
    2.0 rating
    2/5 Bad
  • Pricing
    3.0 rating
    3/5 Neutral

Like

  • It is a fully automated software
  • Verified trading results
  • Money-back-guarantee

Dislike

  • The strategy used is not revealed
  • High drawdown indicates a risky approach
Total
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