FX Oxygen Review: Does It Win or Lose?

FX Oxygen

FX Oxygen claims itself to be a highly profitable and reliable trading system. The developers state that it goes against all the fraudulent EAs that are present in the market. They state that FX Oxygen was presented to traders after aggressive testing on the historical data. We will contrast the system’s performance on backtests and live records in our review to see if it performs like the said statements.

What is FX Oxygen?

FX Oxygen robot has the following features:

  • It comes with free lifetime updates.
  • It only works on the MT4 platform.
  • There is a 30-day money-back guarantee.
  • The developer offers a discount for the first few copies.
  • The algorithm can be installed easily within a few minutes.

The developer does not provide info on the leverage and the minimum balance requirements to use the product.

Official FX Oxygen website

The robot is available on the developers’ website, where the information is all scattered. We had to search within the page to get the knowledge we required. Most of the necessary stuff is not available such as transparency on the developer. 

How can we use FX Oxygen?

  1. You can use the robot by purchasing it from the website
  2. Afterward, traders have to place it in their experts’ directory 
  3. Attach the robot onto charts to start trading

Pricing & refund

The robot is available for $210, and there is a 30-day money-back guarantee. The developer offers a discount for the first 500 copies they are selling.

Fee structure for the robot
Fee structure for the robot

Trading strategy

The developer does not share any information on the strategy of the robot. We had to dive into the live records on Myfxbook to see how it works. From there, we observe that the algorithm trades on USDJPY and EURUSD and employs a martingale approach. As you can see on the screenshot below, this trading approach is unprofitable for the EA, and worse, it frequently leads to loses than to wins. 

Trading history on Myfxbook
Trading history on Myfxbook

Backtesting results are available for USDJPY, where the relative drawdown was around 30.51%. The winning rate was 48.42%, with a profit factor of about 1.4. 

The test was done with a starting balance of $10000. The robot tanked an average profit of $366339.44 during this period. 

There were 1578 trades in total, and the best trade was $78749.89, while the worst one was -$37775.4.

Backtesting records
Backtesting records

Current performance

Live trading results on Myfxbook are available from December 11, 2018, till the current date. The robot had an average monthly gain of 0.26%, with a drawdown of 34.81. The high value of drawdown provides us with a poor risk-reward ratio of 30:1. 

There were 494 trades in total, with 235.36 lots traded. The expert advisor traded with a winning rate of 49% with a profit factor of 1.04. The average winning trade was 68.52 pips, while the worst one was 65.52 pips. 

Live records on Myfxbook
Live records on Myfxbook

What are the real customers saying about FX Oxygen?

There are no customer reviews present on Forex Peace Army or other noted forums. This means that traders are not interested in the product. A high drawdown value and a negative gain are not convincing for many. 

Summary: is FX Oxygen a trustworthy robot?

FX Oxygen
3 5 0 1
FX Oxygen does not provide us with good trading results. The live records are on a demo account which makes the product questionable.
FX Oxygen does not provide us with good trading results. The live records are on a demo account which makes the product questionable.
3.0 rating
3/5
Total Score
  • Strategy
    3.0 rating
    3/5 Neutral
  • Features
    2.0 rating
    2/5 Bad
  • Trading results
    3.0 rating
    3/5 Neutral
  • Reliability
    3.0 rating
    3/5 Neutral
  • Pricing
    4.0 rating
    4/5 Good

Like

  • Live records available on Myfxbook

Dislike

  • Live records are on a demo account
  • No information on the developer
  • A high drawdown
Total
0
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