Welcome to the FX Helix review.
FX Helix is an automated trading Forex robot whose vendor promises “minimum efforts for maximum results”.
There’s not a lot of information regarding FxHelix EA but at least the developer has shade light on the trading logic of this automated system.
They reassure Forex traders that FX Helix is not a scalper and neither is it an arbitrage trading system.
While they claim that FxHelix EA carries out safe type of trading with good drawdown control mechanism, they confess that a little bit of Martingale style of trading is involved.
In their product description, they tell the trading community that FXHelix Forex robot opens multiple trades to achieve profits.
Meanwhile, they tell the community that this Forex robot remains safe to trade with as it only increases lots in 10% of the cases where it feels necessary to do so.
This explanation makes me believe that FXHelix is a real Martingale trading system and to confirm this, we’ll take a look at the developer’s myfxbook account to confirm whether or not this is the case.
At the moment, there’s no information about this developer anywhere on the sales page. They can only be contacted anonymously.
We have no idea what their trading background is or the duration of time they’ve been creating Forex robots.
However, the website was created in October 2018. Perhaps this vendor started selling copies of FX Helix in 2018.
The vendor’s website design makes it look like an abandoned website as the choice of colors and background makes everything look dull.
They tell us that FX Helix EA was optimized for the AUDUSD pair. They’ve also provided backtesting results for this currency pair.
They claim that they’ve done all the necessary tests on historical quotes and have been encouraged by the results.
We’re not very confident about automated trading systems whose vendors use backtesting to sell copies.
Unless there’s something else to prove the claims, there’s no need to take the vendor’s word for it.
We’ve been burned by such Forex robots before and once beaten, twice shy.
It’s therefore crucial that vendors provide details of their trading robot and back it up with live testing.
This can be viewed in a myfxbook.com account which is free to create and use.
Trading logic of FX Helix EA
This robot analyzes history of price movement with the intention of identifying patterns where price deviates from the expected average movement.
Based on this analyzes, the EA is supposed to determine which direction to open trades in.
They also tell us that FX Helix EA larger take profits and is compatible with multiple trading strategies.
Nevertheless, the developer is not telling us how they manage draw down in this Forex robot.
Their strategy also sounds like what can be achieved by a free MT4 indicator.
Deviation in average price movements can actually be tracked with an indicator.
Only those who would like to automate their trading can consider using a program that can open trades based on this logic.
All in all, the developer has provided information about what’s going on under the hood.
I feel that Martingale trading strategy is quite risky if there’s no mechanism to deal with money management.
Summary of FX Helix EA details
Product: Forex robot
Price: $210 for one license
30 Day money back guarantee: Yes
Trading strategy: Average price movement plus Martingale
There are many Forex robots that are priced below $210 which are programmed with this trading strategy.
I’m not sure why a trader would choose this Forex robot instead of a cheap one that has the same trading strategy.
Let’s review their trading results to see what has been happening in a live account traded by FX Helix EA.
Trading results of FXHelix EA
The developer presents a sufficient trading sample in their myfxbook.com since trading of this live account started in July 2018.
This is a fully verified myfxbook account using a Forex broker called FXOpen.
This account has gained +547% so far. Monthly return is 10% but draw down is higher.
At 52%, we can say this is the highest draw down we’ve ever seen and cannot be comfortable trading with such an EA unless there’s a risk setting that allows us to change this.
Otherwise, I can say these figures are quite impressive.
While these results are good, these numbers also indicate the high level of risk associated with trading with a Forex robot like FXhelix.
There are no customer reviews around.
It makes me wonder why traders aren’t getting so impressed with these numbers to the extent of ordering copies of the trading robot.
The only reviews I could see were from blogs published by editors who don’t seem to have used this Expert advisor.
In my opinion, the only concern of trading with a robot like FX Helix EA would be the high risk associated with its Martingale trading style.
Even though the numbers are impressive, it’s going to be tough selecting a Forex robot like FXHelix EA because of the issues I raised in this review.
FXHelix also comes across as a trading robot created by a developer who focuses on quality rather than quantity, hence no scalping.
At this point in time, I don’t want to recommend it yet because risk management is one of the crucial things a Forex trader should master.
Even if you’re going to trade with a Forex robot, using an EA with poor risk control can damage your account.
We’ve not come to the conclusion yet of whether to use this Forex robot or not.
It would have been good if we read a few customer reviews regarding the performance of FXHelix EA.
I encourage you to leave your comments on this review especially if you’ve tested this Forex robot before.
Thanks for reading this FX Helix EA review.