In this post I will be reviewing the XFXea which is a forex robot that trade automatically on charts running in the free to download mt4 platform that you can download from most reputable forex brokers. For the best possible trading conditions, I always prefer to use an ECN forex broker as they can save on trading costs in the long term by having tighter spreads, lower commissions, minimal slippage and reliable execution speeds.
The XFXea developers have shared a couple of verified Myfxbook trading accounts on the XFXea website which is useful for us to be able to gauge the historical performance of this particular forex robot. There are 2 accounts shared, the XFXea aggressive account and the XFXea normal account. Whilst the aggressive account is showing a lot more profit, it also has a lot more draw down which is very high for my personal tastes. I wouldn’t be able to sit comfortable having the aggressive setting running on my trading account. That being said, the draw down on the normal account is also still quite high and will probably prevent many users from using the XFXea, unless of course they don’t mind taking the extra risk – everyone is different!
XFXea Trading Strategy
The XFXea is aimed at bringing regular profits through various different market conditions by implementing what the developer cleverly calls “special calculations and transaction algorithms.” The software tries to recover from losses by using a money management strategy that can cause large drawdowns should the market continue moving against the extra positions the robot takes to make up for a bad initial entry. XFXea calculates an entry point by evaluating in a special way a certain number of bars and then forms an important range. Based on this range, it determines how and when to start trading. XFXea trades on two currency pairs: AUDUSD and EURUSD. These are considered major currency pairs which means that they tend to have lower spreads and more liquidity than some of the more exotic forex currency pairs. This forex robot does not trade very often so will not be suitable for those who like plenty of action!
XFXea Back Testing
Whilst the developer does display XFXea back testing results for the EURUSD and AUDUSD on the official website, these only have a modelling quality of 90% which means they do not use real tick data and do not take into account variable spreads, slippage, commissions or swaps. For this reason, I would not consider them to be reliable and would much prefer 99% modelling quality back tests conducted in the mt4 strategy tester in conjunction with Birts Tick Data Manager for the most accurate results possible.
XFXea Live Results
Overall, the XFXea has shown that it can make some gains as per the verified Myfxbook accounts we have available to check its performance. Despite that, the trading strategy does suffer from large drawdowns and thus is not for everyone. You may wish to check how the XFXea results have fared since me writing this review. The XFXea software does include instructions, free updates, full support and a money back guarantee.