The main motto on the Ax Trader website is purposely written to catch our attention and convince us to invest in this product. The devs promise us 39% of monthly return. Promising stable monthly results is unprofessional and irresponsible, as different factors can influence the Forex market volatility.
Our whois.domaintools.com research has helped us to find out that LeapFX was founded on October 2, 2012. This company is a well-known developer with mostly nine years of producing different trading systems in the FX market. They appear to develop 2-4 systems per year. Many traders believe they are releasing too many products, which makes it hard to believe they are providing ample support for each, but it isn’t a substantiated belief. Some of their recent products are The Fund Trader, Easy Money X-Ray Robot, and Trade Explorer. However, are their trading systems as good as they claim? What should we know about Ax Trader? Our experts have analyzed this trading tool to let our community know whether it is a good and reliable trading system to invest money in.
To get in touch with support traders need to visit their contact page and fill out an online contact form or email them directly at [email protected].
Features
The Ax Trader presentation does not contain all the necessary intel we have to know about the system. It is typical for LeapFX’s presentations. So, that is what we could find about this trading tool:
- It is an automated trading tool that does not require human interference, meaning manual trading is excluded
- The devs point out that the robot is programmed ‘on a unique hybrid strategy that utilizes Fibonacci and trend to place frequent and accurate trades’
- The EA was designed for trading in 6 currency pairs: URUSD, USDJPY, USDCHF, USDCAD, GBPUSD, and AUDUSD
- This trading tool can work only on the MetaTrader 4 platform
- It promises 39% of an average monthly profit
- It has a built-in news detection technology that makes profits from extreme volatility
- The system has an auto money management system that cares about open orders
- The robot can adapt to the current market conditions, meaning it does not require any additional settings or tunings
- It determines the direction of the overall trend and adjusts its entry points utilizing data from Fibonacci calculations
- It automatically manages, closes, and opens trades
- Ax Trader depends on how the market moves, the lot (risk) size you choose, and the account size you trade
- Full-time customer support
- A digital copy of the AX trader EA comes with a free installation guide
- The system is easy to install and setup
How to start trading with AX Trader
To start trading with Ax Trader, you need to choose a payment plan: one-year membership ($297) or a lifetime license ($497). Both plans have the same characteristics: free updates, full-time support, best recommendations, and a 30-day money-back guarantee.
In comparison with the other EAs available in the FX market, pricing of this expert advisor is quite high, as there are many systems whose lifetime license equals the price of Ax Trader’s one-year membership.
The system can automatically adjust to the market conditions, so no additional adjustments are needed. Once you paid for the desired package, you‘ll get instant access to the members’ area. The members’ area includes software, activation, manuals, recommendations, etc. Install the robot to your broker platform, open the charts for 6 currency pairs the robot trades in, and attach the robot to each chart.
Backtests
Unfortunately, the devs failed to provide backtesting results on their website. The developers only shared this screenshot of their trading report. We cannot analyze the past trading activity of the system which raises suspicions around the system’s reliability and efficacy.
Verified Trading Results of AX Trader
Let’s talk about the live trading results the dev shared on his website.
This trading account is running under the Blaze Markets brokerage and trades with 1:200 leverage on the MT4 terminal. It was launched on myfxbook.com on April 01, 2021. Being deposited at $5000, the robot could grow its profit to 143, 26%, which equals 7,162 USD. The average daily and monthly gains are 0, 96%, and 33, 28%, when the drawdown is insanely high – 67, 99%. The high drawdown indicates that the system uses a high-risk trading approach to maximize its profits.
It trades unpredictably:
From the 6281 trades performed, only 4968 were winning ones, representing an average win rate of 79%. The average loss is x3 times higher than the average win, meaning that the risk-reward ratio is 3:1. It’s not good for trading. The profit factor is 1, 64 and the average trade length is 13 hours and 39 minutes.
The expert advisor focuses on cutting 5-5.5 pips profits from the market. In the case of losing trade, it loses much more than when it wins. It does not trade with a fixed lot size and can increase it from 0, 02 to 0, 06, 0, 12 or t 0, 18. It looks like it uses a Martingale, Scalping, and Grid combo. This trading approach is very risky and dangerous. It can easily ruin any trading account.
Dwindling Performance
We’ve also noticed a dwindling performance of the system. As can be seen from the snapshot below, profits have dwindled from 46, 23% in April to 21, 01% in June, meaning the monthly gain has fallen twice. It raises some concern as to whether the strategies used by the EA can continue to withstand changing conditions in the FX market.
Customer Reviews
Unfortunately, we could not find any review about the Ax Trader robot anywhere on the web.
Is AX Trader a viable option?
Advantages
- A well-known company in the FX market
- Real account trading results
- Money-back guarantee
Disadvantages
- Absence of backtesting reports
- Martingale, Grid, and Scalping combo on the board
- The robot trades unpredictably with high drawdowns
- Dwindling trading performance
- No customer reviews about the system
Summary
Ax Trader is a forex robot, which cannot be trusted. We have analyzed this MT4 tool and found several drawbacks, which will militate against successful operations on trader accounts. The Leap Fx team can still improve the trading performance of this system, but until they do so, we cannot rely on this trading tool.
