Home Forex Robots AX Trader Review

AX Trader Review

333
0
AX Trader

The AX Trader is programmed to conduct trades automatically. The system is easy to install and can be set up to the broker’s platform. It comes with a step by step guide with recommendations to assist the user. The developers claim that the robot has been able to make more than 100% profit in less than 3 months. On average, the system can allegedly generate between 10% and 46% profit in a month with default settings. However, the percentage of profit that a trader can make is dependent on market movements, the lot size chosen, and the size of the account. 

AX Trader presentation

How AX Trader Robot Works

This system uses Fibonacci and trend strategies. It establishes the direction the overall market trend is taking while dynamically making changes to the entry points using data obtained from Fibonacci computations. It manages and closes each trade for the user. The developers allege that this strategy allows the system to make profits and grow the account cleverly.  

The software features the following:

  • It’s a fully automated Forex system
  • Trades on the MT4 platform
  • Trades on AUDUSD, USDCHF, EURUSD, GBPUSD, USDCAD and USDJPY
  • Full installation guide 
  • Inbuilt auto money management
  • Adaptable to market conditions
  • Full customer support
  • 30-day money back guarantee provided
  • Free updates 

Vendor transparency is absent. We were unable to find important information about the developers. Consequently, we cannot really tell who they are, what they do, and their reputation in Forex trading. 

Applied Strategies

The developer has not provided any backtesting results for the robot. Therefore, we could not determine its overall performance for the period it has operated. We are unable to tell how well the robot works and how much it can grow the account in the long term. Moreover, we can not determine the level of risk associated with the account over a long time period. 

AX Trader Trading Results

AX Trader Trading Results

From the screenshot above, it is clear that the robot was able to grow a deposit of $5,000 to $11, 564.79.79 from April 1, 2021 to June 24, 2021. The total profit earned is $6,564.79, which represents a gain of 131.3%. The gains obtained support the developers’ claim that the robot is able to generate more than 100% in profits in less than 3 months. The monthly profit is 34.22%. This figure further supports the developer’s assertion that the system can make between 10%-46% monthly profits. The drawdown which stands at 67.99% is very high. This is dangerous as the trader’s risk of losing money invested is heightened. 

AX Trader advanced statistics

For the three months that the robot has been active, it has carried out 5759 trades. It has attained win rates of 80% for longs and 78% for shorts. The software has 4341.7 pips. The average win which is 8.08 pips, is 3 times less than the average loss (27.21 pips). This indicates that the account’s risk of making losses is high. The profit factor is 1.63. Lots made are 164.21. This figure is high and further highlights the system’s heightened risk of incurring losses. 

The system uses Grid and Martingale combo as shown below:

AX Trader Trading Results

The grid strategy entails putting several buy and sell stop orders with set intervals above or below the existing market price. The trading history above shows that the system places buy orders at every 0 pip interval above the set price, while putting sell orders at every 0-0.1 pip interval below this price as well. This seeks to leverage trends. 

The martingale strategy focuses on increasing the trade size twofold each time a loss is faced. So, when the system made a negative pip of 12, the account almost doubled the lot size as highlighted above.

Pricing and Refund

The robot has two payment options. The first option allows the trader to pay $297 once per year and use the robot for that period. The software turns off if it is not renewed after a year of use. The second option is priced at $497. It allows the trader to receive a lifetime license and the software will never turn off. The lifetime deal is supposedly more popular and cost effective. Both options provide a 30-day money back guarantee and hence worth the money. 

Customer Reviews

We were unable to find any customer reviews on the robot on the Trustpilot and Forex Peace Army sites. We also visited other Forex trading customer review sites but we could not find user testimonials on them either. For this reason, it was hard to determine if users are satisfied with this product or not.

REVIEW OVERVIEW
Overall rating
Previous articleFXPro Dragon Review
Next articleForex Robots: What Is an Expert Advisor and How to Use It

LEAVE A REPLY

Please enter your comment!
Please enter your name here

81  +    =  90