Aspex EA uses an advanced lot and risk management system that trades on the 4-hour chart and works with all currency pairs. The algorithm is claimed to use intelligent analysis that we will review in our article and provide details on the pros and cons so you can make a better purchase decision.
Features
The robot has the following features:
- Available with multiple subscription packages
- It can trade all currency pairs
- There is a pure trend following system in use
- The robot is fully automatic
The developer states that the robot works on all currency pairs in the 4-hour time frame. It has a trend-following strategy on the cards and uses risk and lot management to adjust the drawdown.
The live records on MQL5 marketplace show that it has no stop loss attached with most trades and can use averaging for recovering lost trades. The average holding time of 16 hours refers to the use of the day trading approach.
How to start trading with Aspex EA
To get the service up and running, traders have to use the following steps:
- Purchase the system from the developer and provide your account numbers
- Download it on your MT4 or MT5 platform
- Place it on your charts
- Do not forget to enable the auto-trading button
Price
The EA is available for an asking price of $499 that will provide you with a license for 1 account. Traders can also get 2 keys for $899. The usage of the algorithm is unlimited with each purchase. The developer is not transparent about the money-back guarantee.
Verified trading results of Aspex EA
There are no backtesting records available that we could use to analyze the historical performance. This is a poor practice from the author that raises many concerns.
Verified trading records are available on the MQL 5 marketplace that shows performance from December 16, 2021, till the current date. The system made an average monthly gain of 8%, with a drawdown of 93.5%. The drawdown value shows that while trading, the algorithm can cause a margin call on the account.
The winning rate stood at 82%, with a profit factor of 1.1. The best trade was $4531.51, while the worst was -$26850 in a total of 450 trades. The developer made $24201.43 in deposits on a real account. The account’s current balance stands at $33368.94, with a total return of 40%.
Customer reviews
No customer reviews are present on Forex Peace Army or TrustPilot that could show us the general viewpoint of traders on the EAs performance. The lack of available feedback highlights that no one has bought and tested the EA as of now.
Vendor transparency
According to the MQL5 marketplace details, we can see that Arjun Kumar is the author of the EA. The developer has five signals on the website and has 0 products with 0 subscribers for their services. There are no certificates or live records that could highlight their experience in the market or whereabouts.
Is Aspex EA a viable option?
The robot has the following benefits and demerits.
Advantages
- Risk management is available
Disadvantage
- No detailed backtesting statement
- Short live records
- Little information on developers
Conclusion
Aspex EA is not transparent on their backtesting records that could show us the previous performance. The current live statistics highlight that the algorithm has a high drawdown on the account, nearly causing a margin call. The developer is not fully transparent on the strategy the robot is using.
