FXMath X-Trader Review: Things to Consider Before Investing

FXMath X-Trader is available for the MT 4 platform, where it trades on EURUSD and other currency pairs. The robot can work on any account type, including ECN, micro, and standard. There is a leverage requirement of 1:1000, which is relatively high. We will review the robot to see if it can be good enough to add to our portfolio.

The highlights of FXMath X-Trader

According to the provider, the FXMath X-Trader has the following features that set it apart from other algorithms in the market:

Free upgrades

The algorithm is subjected to continuous upgrades from the developer to keep it adapted to the current market conditions. All the incoming updates are free of cost.

Broker selection

Traders can use any broker of their choice and use it on any account they desire. The algorithm works on a live portfolio on any operating system. 

Trading strategy of FXMath X-Trader

According to the developer, the robot automatically trades on EURUSD and other currencies and adapts itself to market conditions. To get further information on the topic, we had to get over to the live records on FXBlue. From the printable statement, we can observe slight use of averaging. The trades come with a stop loss, but there is no take profit. The exits from the market are virtual and are mostly done when the trade is in profit.

Backtesting reports

Backtesting results are available for EURUSD, where the relative drawdown was around 23.4318.11%. The winning rate was 92.54%, with a profit factor of about 68.85. 

The test was done on the 1-hour chart with a starting balance of $99. The robot tanked an average profit of $44472.14 for this period. 

There were 295 trades in total where the best trade was $1835.35, while the worst one was -$252.25.

Trading results in real time

Verified trading records are available on FXBlue. From October 11, 2021, till the current date, the system made an average monthly gain of 47.8%, with an unknown drawdown value. The winning rate stood at 87%, with a profit factor of 1.77. 

The best trade was $382.34, while the worst was -$23.5 in a total of 23 trades. The developer made $1956 in deposits on a live account. The total return from the robot as of now is standing at 172.9%.   

FXMath X-Trader price

The company sells the algorithm for $123, with 2 real and 2 demo accounts. It is also possible to get it for $99 and $149. Silver package comes with 1 real and 1 deo account, while Diamond includes 3 real and 4 demo accounts. There is no money-back guarantee.

Customer support

The developer claims to provide support for the robot 24/5. Traders can contact them through a form available on the website and ask any questions or inquiries. 

Are traders happy with FXMath X-Trader?

There are 4 customer reviews on Forex Peace Army, which give the company 2 stars. One of the traders states that the backtesting records on the website are a lie and that he has lost $2k in only two days by using the robot.