Welcome to the FX Adept Forex expert advisor review. Fxadept.com is promoting an EA they claim can generate up to 30% monthly returns.
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You can recover your money here with 100% success rate!Fxadept.com also reassures traders that their EA neither uses Martingale, grid nor scalping strategies. The developer feels that their algorithm really works because they’ve tested it on a real myfxbook.com account.
The cost of a license is $269 and they also claim that if draw down is 35% of your equity, they’ll issue a refund immediately.
This is a very interesting promise, one that we cannot believe at the moment because we’ve seen that despite FX Adept EA having a track record of trading, draw down has been very high.
Their myfxbook.com account is actually showing that the account has suffered a draw down of 51% since November 2017.
If this is the case, FXAdept will be refunding every day because it’s obvious their Forex robot can’t meet these strict requirements.
Aside from this, the developer is not keen on providing background details of their operation, their location and even their names.
However, we found a statement at the bottom of their sales page claiming that FX Adept EA is powered by forexstore.com.
Like its name suggests, Forexstore.com is a website that collects together Forex expert advisors from across the web and sells them to traders.
We currently have no idea who is behind the FX Adept EA because this information has never been disclosed.
Are you facing withdrawal issues with this broker?
Here's what you can do to recover your funds now.They feel that this is not as important as the product they’re promoting.
Having said this, our analyze of the Forex robot’s features will let you know whether or not you want it.
In any case, we’re still recommending the best Forex trading tools here on this page.
In case you would like to embark on a journey of trading Forex like a professional, those tools will always go a long way to help you achieve consistent results.
FX Adept EA Review
We find the vendor’s graphics on the sales page very attractive but this does not mean they have a good product for traders to purchase.
The 30% monthly returns capability is prominently displayed on the homepage for every trader to see.Apart from this, there are a few paragraphs and backtests that display trading results of the FX Adept EA.
Of course we’re not relying on backtests to determine the effectiveness of this Forex robot in a real market.
Backtests don’t give us a true picture of what will happen if the Forex robot is subjected to real trading conditions.
The vendor proclaims that FX Adept EA is built on two basic algorithms and will produce consistent results every month.
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Many brokers and so-called investment firms are not honest. If they're illegally holding onto your money, you can easily recover it here.We’ll take a look at the two algorithms being talked about on the sales page to see whether FXAdept EA can be a good product to use on a live account.
Summary of FXAdept EA details
Trading system: Forex robot
Currency pairs: USDJPY only
Strategy: Trend trading
Price: $269
Trading strategy of FX Adept EA
The vendor claims that he has found a “fairly accurate pattern” in which to identify trends and enter trades accordingly.
They want traders to know that the FXAdept Forex robot is using RSI indicator but not in the way that other traders use it.
They provide the following explanation with regards to how the robot uses RSI indicator:
We find long flat periods according to RSI, when the price is inside the corridor of the boundaries of RSI indicator, and at their breakdown we understand that the trend begins. Carefully selected settings and additional filters allow us to open profitable trades with a high probability in the direction of the trend.
We appreciate this information but in the first line of the paragraph, things are looking a bit cumbersome.
The bottom line is that they’re using RSI indicator to establish entry points and direction of trend.
The second algorithm is what they call “Smart support of orders”.
The explanation is that this algorithm enables FX Adept EA to collect maximum profit when they’ve “guessed” the direction of the trend.
In the event that the guessing didn’t turn out well, FX Adept EA’s algorithm will close trades with minimal losses and sometimes profits.
This is achieved by their second algorithm called Smart support of orders.
FXAdept EA also takes into consideration a number of parameters such as market volatility, indicators used, number of open positions etc.
We still appreciate the much they have provided to support their promise that FX Adept EA can generate 30% monthly returns.
Nevertheless, we feel that a Forex vendor should always verify such figures if they have to use them in their marketing material.
FXAdept EA Trading results
FXAdept has provided their myfxbook profile for the analysis of their trading results. Gains are 176.57% and were achieved over a period of 2 to 3 years (from November 2017 up to now).
In this myfxbook.com profile, monthly returns are only 3.55% which is a far cry from their alleged 30%.
Drawdown is 51% which is quite unacceptable.
Trading systems that suffer this kind of draw down usually have an element of scalping, grid trading or Martingale and in as much as the vendor is not admitting, they appear to be taking huge unnecessary risks while trading.
We feel that these results are good but the high draw down is making it impossible to believe that FX Adept EA can provide a consistent income.
Customer feedback
Feedback is really important because what FXadept says can sharply differ from what real customers are confessing.
We’ve checked reviews of FX Adept EA but did not find any. So this will probably be a good chance for expressing your opinion regarding the EA.
Have you used it before? What are the results? Let us know in the comment section.
Conclusion
FX Adept EA is an expert advisor with minimal gains but the high drawdown is making us lose trust in their risk management abilities. We’re not sure how the 30% monthly returns are supposed to be achieved.
Therefore, we’ll not recommend this Forex robot today because it still falls short of our expectations with regards to listing in our most popular Forex trading tools page.