Aspex EA uses an advanced lots and risk management system on the MT 4 platform. The algorithm uses the H4 chart to trade on GBPUSD and GBPJPY and comes with a license for a single or two accounts. The developer states that the system is fully automated and will make profits for traders once left on the live account. We will review the statement in our review by taking a look at the live records and analyzing other features of the robot.
How Aspex EA works
The EA requires the following steps to work properly:
- Purchase it from the website and provide your account number to the developers
- Place the robot within the experts’ directory of the MT4 platform
- Refresh the experts’ tab, and the robot will show up. Press on the auto trading button
- Place the algorithm on the charts to start trading
The robot is claimed to be developed by a team of professional traders who decided to put all of their knowledge together in 2017 to create a trading robot. Unfortunately, there are no certificates or information on the whereabouts of the developers.
The EA has the following features:
- There is an advanced money management system.
- It comes with a license for 1 or two accounts.
- The robot uses a trend following strategy.
- It is a 100% automated EA.
The developer states that the robot uses a trend following strategy on the H4 chart at GBPUSD and GBPJPY. Traders can also use it on other currency pairs and it will trade them automatically.
From the history of the MQL 5 marketplace, we can observe that the EA trades mostly on gold with a stop loss and take profit that can range from 10-40 pips. It holds a day trading approach as the average trade duration hangs at 14 hours. The trading hours are random.
The developer does not provide us with backtesting records which is a huge turnoff. Without any proper historical testing, we cannot know what kind of drawdown the algorithm had while trading.
Aspex EA trading results
We have had the robot trading on the live records since December 12, 2021. The system made an average monthly gain of -1%, with a drawdown of 93.5%. The stated drawdown value gives us a poor risk-reward of 90:1 and shows that while trading, the algorithm can nearly cause a margin call on the account.
The winning rate stood at 81.07%, with a profit factor of 1. The best trade was $4531.51, while the worst was -$26850. There were a total of 428 trades. With a total algo trading percentage of 67%, we can state that the system is not fully automated and requires manual intervention from traders. This goes against the comments from the developer.
Pricing & refund
The robot can be purchased for $499 for a single live account, and there is no money-back guarantee. There is also an option to get it for 2 portfolios at $899. The asking price is quite high if we compare it with the market standards. It is also possible to purchase the signals on the MQL5 marketplace for $49 each month.
There are no customer reviews on noted sites such as Forex Peace Army, TrustPilot, Quora, and Myfxbook. This leads us to believe that no one has purchased and tested the robot as of now.