Fxtraderkit is the name of a website that develops and sells two expert advisors.
FX Trader Kit has created Trader’s Sun and Trader’s Moon expert advisors with each one of the robots going for $269.
This is way costly than even some of the robots we’ve recommended here and we believe our picks will still favor a typical trader’s goal compared to the robots we’re reviewing right now.
Both EAs are built for the MT4 platform but their style of trading is different.
According to Fxtraderkit, the strategy of Trader’s Sun EA is based on determining support and resistance zones with respect to the behavior and direction of the market.
This way, the developer believes the Trader’s Sun Forex robot is able to establish movement impulse and momentum.
On the other hand, Trader’s Moon uses Martingale strategy “but with significant improvements”.
These “significant improvements” are based on a series of indicators and Candlestick patterns with lots of filters in the algorithm.
Trader’s Moon is optimized for trading EURSGD, GBPCAD, NZDCAD, EURCHF, EURGBP, AUDCAD, GBPAUD, AUDNZD while Trader’s Sun is optimized for trading two pairs, EURUSD and USDJPY.
Martingale strategy, no matter how fine-tuned the strategy is, will always come with greater consequences.
We’ve never seen a Martingale Forex robot with a small draw down.
This is why we’re interested in seeing actual trading performance for the Trader’s Moon and not backtesting data.
It also appears that Fxtraderkit knew about this which is why they created Trader’s Sun EA as an alternative robot for those who are aware of this shortcoming.
Is Fxtraderkit legit?
They may be legit but in the sense that when you pay for one or a combination of two robots, you will receive the files and upload them to your MT4 account successfully.
On the other hand, nothing is known about this developer or the team of programmers that run their website.
The domain Fxtraderkit.com first appeared on the internet in September 2019.
In addition to adding links to their two myfxbook accounts, Fxtraderkit has also providing backtesting data which we do not think is very important at this time.
So we will concentrate on their two myfxbook accounts which are supposedly tracking performance for their two robots.
Trader’s Sun EA shows an overall gain of +308.3% but absolute gain is just +55.5%.
This means that the developer is crediting this account from time to time to give the impression that the EA is making profits.
Drawdown is also very high. At 27%, we can say this is unacceptable.
We see the same thing with Trader’s Moon myfxbook results.
Gains are +177.91% while absolute gains stand at +105.12%.
Draw down is currently at 41%, which proves our initial statement that Martingale EAs tend to have a very high draw down and can be consequential to a trading account.
The way we see it is that Fxtraderkit is peddling two Forex robots with no sustainable trading performance.
The reason traders are looking for Forex robots is to make money. Some manipulation of results are involved here and we of course see that the EAs have no real capability to make consistent profits.
We neither recommend Trader’s Sun EA nor Trader’s Moon EA.
If you want a good Forex robot, check out this page for our recommendations.