FXMath X-Trader Review: Does It Win or Lose?

FXMath X-Trader promises to take your profits to a whole new level. As a consequence, you can truly begin enjoying your financial freedom and live your dreams. We highly doubt these statements. A system like FXMath X-trader that relies on the grid strategy is doomed to fail. 

What is FXMath X-Trader?

The features of this EA are highlighted below:

• Supports the EURUSD pair.
• Can work with any MT4 brokerage account.
• The recommended leverage range is 1:100-1:1000.
• Works on any account type: cent, micro, mini, standard, Pro, or ECN accounts.
• Runs on the MT4 terminal.
• Customer support is available 24/5.
• Free upgrades are offered.

Official FXMath X-Trader website

At a glance, the website looks dull and uninformative. There’s some general information about Forex trading, a list of features and requirements, several links to backtest and live trading data, pricing details, as well as contact info. 

The entire website also looks disorganized and features some random images whose purpose in the presentation is unknown. Some of the buttons don’t even work. All of these portray the image of the company badly. If the vendor doesn’t care about how it is viewed by the public, then we doubt its ability to keep your investment safe. 

We are not told who the developers of this robot are. Information on the company involved is also not available. 

How can we use FXMath X-Trader?

FXMath X-Trader is a trading tool that doesn’t require any human intervention to trade. You only need to attach it to the MT4 platform, where it can begin trading for you. 

Pricing & refund

FXMath X-Trader is fairly priced. The silver pack is available at $99. The prices for the Gold and Diamond plans are a bit higher. You are asked to pay $123 or $149, respectively, to get their licenses. The distinguishing factor between these three offers is the number of real and demo accounts they offer. 

Trading strategy

The vendor does not present any information on the trading strategy used by this system. However, a closer look at its performance stats in the live market shows that the grid technique is present. 

This test was conducted on the H1 chart, from January 2018 to November 2020. During this period, it placed 295 orders and won 92.54% of them. This was translated to a profit of $44472.14. From a profit factor of 68.85, it is apparent that the EA’s return rate was very high. The maximum drawdown was 23.43% and not threatening. The win rates for short (89.77%) and long positions (96.64%) were quite remarkable. 

Current performance

The EA is currently operating a real RUR account on FXBlue. The system has been trading for 31 days, and so far, it has brought in a profit of $1566.07, increasing the balance to $3522.15. The losses made have not been highlighted. 

The EA makes 0.4 trades daily and contributes a profit of 13.6% weekly. Accumulatively, the successful trades have led to a total return rate of 80.1%. There is a profit factor of 65.69%, which is very high. It depicts the robot as a very effective trading tool. The pips made are 238.3.  

The risk/reward ratio on trades is 2.01 when the trade length is at 28.9 hours. We have healthy results for the average win (159.03 pips) and the average loss (-12.10 pips). On its worst day and month, the robot banked profits of $1.52 and $78.5, respectively. The account has a 29.6% chance of being wiped out. 

Based on the data above, the EA is only active for 4 days only, and Tuesday is the busiest of them all. 

The EA operates with a grid of orders. Only 2 occasions have been unprofitable to date. 

What are the real customers saying about FXMath X-Trader?

This EA has mixed reviews on FPA. But from the 2.7 rating, it is apparent that traders are not satisfied with this robot. One of the customers says that the system is using the grid strategy without S/L, and so far, his account has suffered a high drawdown. The other one labels the EA a scam because it has refused to work, and the vendor is unwilling to refund him.