FXMATH X-Trader EA Review: Is fxmathxtrader.com Scam? - Topedgefx.com

FXMATH X-Trader EA Review: Is fxmathxtrader.com Scam?

Welcome to the FXMath X-Trader review. With the FXMATH X-Trader EA, traders don’t have to learn how to “interpret trends and signals that generate profit”.

With FXMATH X-Trader Forex robot, traders don’t even have to “interpret market changes that could lead to losses”.

According to the developer, FXMATH X-Trader EA will do all of this work for you on auto-pilot.

The vendor of this trading system also claims that they’re developing trading systems for quantitative hedge funds and institutional trading groups alike.

They believe that the FX Math X-trader EA is the best “Perfectly Automated Algorithmic Trading System”.

This statement is definitely promotional in nature and in this FXMath X-Trader EA review, we’ll let you know whether the vendor’s promises are realistic or total hogwash.

In the meantime, if you’re seriously looking for a good expert advisor for trading so you can start making money right away, we advice you to pick the recommended trading tools on this page. 

FXMath X-Trader review

The creator of FX Math X-trader EA is completely anonymous and their location is not known either.

Yes they have a Google map feature integrated on their website but this one throws up an error rather than leading us to the location of this developer.

FXMath X-Trader ea review

The developer of FX Math X-trader EA claims is promoting their robot with the notion that Forex trading is a way to get rich quickly, achieve financial freedom and also live a life of freedom.

They let traders know in advance that they are aware of the fact that traders are looking at other financial providers, brokers and trading programs.

They go ahead to thank us for including FXMath X-Trader EA among the products to research and make a decision about.

These statements bring a sense of honesty and we do appreciate the brief speech. However, the creator of FX Math X-trader EA needs to come out of the rat hole and let us know their trading experience if they have any.

The first impression of their website is not all that positive.

The presentation is a bit disorganized and some tabs on the website contain repetitive words which makes the website look and feel as if the developer is over-optimizing for the phrase “Start to enjoy your financial freedom and live your dream”.

Generally when we come across a website like this, we can judge in an instant whether or not the developer is doing financially-ok.

This does not appear to be the case concerning the owner of FXMath X-trader EA.

We therefore wonder whether the software they promote has been created with the attention to details that it deserves.

Other than the judgmental aspect, the creator of FXMath X-trader EA wishes to let us know that they offer 24/5 support, future upgrades, instant activation and compatibility with all MT4 brokers.

Generally speaking, these features don’t set the developer’s product or service apart from the rest.

They appear to have been recycled from another competitor’s website.

We’ll need more than just this to get persuaded that FXMath X-trader EA is the best Forex trading system to use.

FXMath X-trader EA trading strategy

The developer does not provide meaningful insights into their trading strategy. They provide the following general statement on their website concerning “trading strategy”.

FXMath X-Trader EA Adapts itself to changing market conditions, Analyzes the market 24 hours for you to find the best trading opportunities

This is not the kind of communication we expect from a developer that wants to sell copies of their Forex robot.

Furthermore, we’re bored of the fact that the developer keeps emphasizing the automated part, which we already know.

Can’t they just do a few paragraphs of how the software places and exits positions in the Forex market?

This would be a welcomed idea.

To achieve the level of competition that these products have set, FXMath X-trader EA developer needs to seriously think about what they can tell potential customers.

Otherwise we don’t see any difference between FXMath X-trader EA with robots like EATree, FX Auto Pips or FX Adept EA. 

What to expect with your purchase

Of course it’s a Forex robot with 100% automated capabilities.

Strategy and timeframe have never been disclosed but pricing of licenses start at $99 all the way to $149.

We’d love to reiterate that if you have $149 to spend, you can get a very good Forex robot on this page. 

FXMath X-trader EA is optimized for trading USDJPY pair only, but the developer claims that we can test it on other pairs as well.

For $99, traders will gain access to one license that caters for one demo and one live MT4 account.

For $123, we have 2 licenses for demo and live accounts. And of course for $149, we have multiple licenses sufficient for trading 3 real accounts and 4 demos.

The creator of FXMath X-trader EA has not talked about their refund policy. So we assume once product is bought, there will be no refund.

Also, when purchases are made, the developer wants traders to send their MT4 account number for purposes of setting up their licenses.

FXMath X-trader reviews

The developer does not seem to have sold a lot of licenses. They somehow appear to have sold one license to a trader who got provided their feedback on the FPA forum.

According to this user, they claim that FXMath X-trader EA does not work and he also gave the developer access to his VPS to no avail. The thing keeps throwing errors and no refunds have been made whatsoever.

The blame is squarely on the developer because they’ve refused to respond to this trader’s problems.

It means the vendor has not honored their promise of providing 24/5 support where all questions will be answered or problems addressed.

When we see such complaints, we become scared of a developer’s products and it’s going to be very difficult to buy a license or recommend it to our readers.

Trading results

FXMath X-trader EA developer does provide an FXBlue account which shows that the software has allegedly gained 1540.33% in 451 days.

In the week of March 8th this year, the software witnessed a major spike in trading returns and this has left us wondering what happened or why the developer didn’t provide any kind of explanation with regards to this abnormal spike.

Risk reward ratio is 1:1 while win rate is 72%. Currently, the risk of ruin is 82% which statistically means FXBlue believes this software stands at least 80% chance of blowing up your account.

These stats are determined based on how FXMath X-trader EA has been trading in the past 1 year.

So this could also provide us with some clue regarding the trading strategy of this developer.

It simply means the software is taking some kind of risk which is not healthy for a trading account.

Conclusion

We have not found any positive reviews or legitimate endorsements regarding FXMath X-trader EA.

They have certainly done a good job providing their trading statistics.

However, this is simply not enough. We need them to be clear on certain aspects of their trading before we can even recommend their product.

Bottom line: we don’t recommend FXMath X-trader EA. Thanks for reading our FXMath X-trader review. We’d love to read your comments too.

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