Beginners and professional traders prefer a low-risk and high-return approach in Forex. Strategies like Martingale, scalper, and grid are considered high-risk approaches. This applies to automated trading software systems. Even with the automated settings, the systems still lack reliability. This is the reason many traders prefer an approach that does not include these risky strategies. FXAdept claims to be a system that steers clear of the high-risk trading strategies. It assures up to 30% monthly profits. The MT4/MT5 compatible system focuses on the USDJPY pair. In this review, we analyze this Forex robot to give our recommendation on its reliability.
Is This A Perfect Trading System To Use?
At the outset, the website reveals very little information on the strategy used and other details like the recommended settings, timeframe, and more. The vendor explains why a high-risk trading approach is not used. With no Martingale system used, you can use smaller leverage and account deposit. The absence of scalping allows you to use any broker and make profits up to 100 pips. And a high drawdown is averted by not using the grid strategy.
Other than the mention of the website being powered by the Forex Store group, we could not find any info on the developer of this system or the team behind it. The absence of location address and phone number raises our suspicion about the reliability of the system.
How to start trading with FXAdept
For a single license on any account, FXAdept costs $269. A detailed instruction manual and 24/7 support are the other features offered with the license. When compared to the competitor automated systems in Forex, the price of FXAdept is very high. And with the vendor not divulging much info about the features, strategy, and related details, the expensive price does not seem worth it. This system is compatible with all types of brokers and trading accounts. A minimum of $100 deposit amount is required on any leverage for this system.
According to vendor information, two algorithms are used in this system. One is the entry point which is decided accurately using the RSI indicator in a non-standard way. Meticulous settings and filters help the system to open winning trades. The other algorithm mentioned is the smart supporting orders, which allow closing of trades at minimal loss. Parameters like the volatility of the market, trade duration, present loss or profit, etc. are used for deciding the algorithm.
A couple of backtests are displayed on the site. A screenshot of the strategy test report for the USDJPY pair on a one-hour time frame is shown below:
The backtest reveals a 90% modeling quality which is not sufficient to get accurate info on the spread, commissions, slippage, and other related details. From the trading results of four years, a profit factor of 1.98 and drawdown of 86.66% are revealed.
We found real live account trading results of this system verified on the myfxbook site. A screenshot of the results is shown below:
From the trading stats, we could see the profit percentage is 426.97% and the absolute gain is 426.97% for a deposit amount of $1000. A daily profit of 0.14% and a monthly profit of 4.20% are shown. The drawdown at 37.23% is very high for this real USD account trading using FXOpen broker on the MT4 platform.
Further delving into the trading history, we could see that for 432 trades executed over three years starting from November 2017 up to March 2021, the profit factor is 1.47. The lot size is high at 0.20. Comparing with the backtest results we could see differences in the drawdown, profit factor, and gains made.
We could not find reviews from users for this Forex robot on reliable third-party sites such as forexpeacearmy, Trustpilot, myfxbook, etc. Reviews help gain a better insight into the system, its performance, and reliability. With the absence of reviews, we are unable to make a complete evaluation of the system.
- Verified trading results
- 30 days money-back guarantee
- Price is expensive
- The strategy used is not explained clearly
- High drawdown
Concluding our review of the FXAdept system, our analysis of the system reveals advantages as well as drawbacks. On the positive side, the vendor offers verified trading results and the use of a low-risk strategy. But the expensive price, lack of user reviews, huge lot size, and high drawdown are shortcomings that prevent the system from being a reliable one. For a system focused on a single currency pair, the cost is prohibitive. The limited info provided about the system is also a downside that the vendor could rectify. We would also like the vendor to show more transparency to render better reliability to the system. As of now, we refrain from recommending this system.