In this post I will review the FXMath X-Trader software which is a fully automated trading system that runs in the popular MT4 trading platform.
The FXMath X-Trader EA does not require any manual trading as it will place, manage and close orders on behalf of the user. You just simply follow the provided instructions and attach it to your MT4 charts.
In order to use this forex robot, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
It must be stated that there can be no guarantee on results and you should only use a lot size that you feel confident with as every trader is different.
The developers state that they are continuously working on making sure that the FXMath X-Trader robot stays up to date with the ever-changing dynamic market conditions.
FXMath X-Trader Strategy
This forex robot runs on the USDJPY 4-hour charts. It must be said that the FXMath X-Trader website leaves a lot to be desired. Let’s just assume the developer is a better programmer and would rather spend time on improving the software that making a “bells and whistles” website.
There is little information on the strategy implemented with the FXMath X-Trader but judging by the FX Blue statistics, it holds trades for a couple of days on average although the trade frequency is less than 1 per day which suggests this is more of a mid-long term swing trading system.
The good thing about such trading systems is that they tend to be less susceptible to spreads and commission charges along with slippage and swaps. That being said, I would always personally prefer to use an ECN forex broker for the best possible trading conditions.
FXMath X-Trader Back Testing
The FXMath X-Trader developer has shared a back test on the official website which disappointingly only has a 90% modelling quality and thus has not taken into account real tick data, variable spreads, commissions, swaps or slippage. I would have preferred to have seen 99.9% modelling quality back tests using Birts TDS.
FXMath X-Trader Live Results
FXMath X-Trader Summary
Overall, there is very limited information about the FXMath X-Trader EA although it does not trade that frequently from what I can see. The more experienced traders amongst you may wish to experiment with the EA by optimising the settings for other pairs and time frames.
I have conducted many forex robot reviews and there are other alternative automated trading options that I would consider over this EA. It does come with instructions, support but there is no mention of a money back guarantee.