FXAdept is an FX trading system that assures high monthly profits of a maximum of 30%. This MT4/MT5 tool uses proprietary algorithms for ensuring stable profits. The vendor claims that the FX robot works effectively and has proof in the form of real money trading results and backtesting results.
We could not find info on the developer or the team behind the system. There is no location address or phone number. Contacting the support is via the online contact form only. The lack of vendor transparency makes us suspect the reliability of the FX EA.
Features
As per the vendor, this FX robot does not use the Martingale, scalping, and grid methods, which are considered dangerous and unreliable strategies. The absence of such risky approaches ensures the system is reliable and also enables smaller leverage and capital for the account.
Moreover, the vendor explains that without methods like scalping the EA can be compatible with all brokers, and without the use of the grid, the EA waits patiently for the right market momentum reducing the drawdown. Other features that the vendor focuses on include a TP level of a maximum of 100 pips and an order duration of a few hours.
How to start trading with FXAdept
You can purchase this FX robot for $269. The package includes a single license that can be applied to any account, the ability to change an account as many times as you want, a detailed user guide, and 24/7 technical support. A 30-day money-back assurance is present for the product. Comparing the price with other competitor systems in the market, the price looks a bit expensive.
As per the vendor, this FX EA uses two algorithms. The first one is the entry point algorithm that uses the RSI indicator, filters, and selective settings for finding the right entries and profitable trades. A smart support order is the second algorithm that helps guess the trend direction and closes trades profitably.
The important recommendations for this EA include the use of a minimum deposit of $100 with any leverage and broker. As for the currency pairs it works on, the USDJPY is the only pair this EA is effective on.
Backtests
A few backtesting results are provided by the vendor. Here is a strategy tester report for the USDJPY pair using the one-hour timeframe done from 2014 to 2018.
For an initial deposit of $10000, the net profit gained was 42613993.39 and the profit factor was 1.98. Profitability was 59.70% and modeling quality for the test was 90% which we find is not sufficient for knowing about the commission, spread, slippage, etc. in proper detail.
While the total profit looks high, the profit factor and profitability percentage show a below-average performance. Further, the maximum drawdown was 86.66%, which is too high indicating a risky approach.
Verified trading results of FXAdept
A real USD account using the FXOpen broker and automated trading on the MT4 platform verified by the myfxbook site is present for this EA.
From the above screenshots, we can see a total profit of 426.97% and a similar value for the absolute gain. For an initial deposit of $1000, the account that started in November 2017 and ended in March 2021, a total of 432 trades have been executed. A drawdown of 41.22% is present for the account. The profitability is 54% and the profit factor value is 1.47. From the trading history, we can see a lot size of 0.20 is used, which is very high and indicates a risky approach. Comparing the backtesting result and the real trading info, the values are similar indicating poor performance and a high-risk trading approach.
Customer reviews
We could not find user feedback for this FX EA on sites like Forexpeacearmy, Trustpilot, etc. The lack of feedback suggests that this is not a popular product among the trader community.
Is FXAdept a viable option?
Our analysis of the diverse aspects of this FX robot reveals that there are several drawbacks. Here are the main advantages and disadvantages we have found in this EA.
Advantages
- Fully automated software
- 30-day money-back guarantee
Disadvantages
- The strategy used is not disclosed
- Poor performance in the real trading results
- Expensive price
Wrapping up
FXAdept is an ATS that promises stable profits with its unique algorithms. Our evaluation of the EA exposes several shortcomings like the insufficient explanation of the strategy, poor performance in backtests and real trading results, and expensive price. All these downsides confirm our assessment that this is not a trustworthy expert advisor to consider for trading Forex.
