IndEX EA Review

IndEX EA is introduced as “The Most Powerful Automated Trading Strategy”. It can work with seven pairs. The system makes profits by performing orders based on the strengths and weaknesses of YEN, USD, GBP, EURO, and Gold. 

Is this robot a viable option?

No, it’s not. The system has proven itself as a scam. It seems to us that the developers have no idea how to handle it. 

How to start trading with IndEX EA

There are some features explained:

• The system is going to open a deal if it can reach 150 pips or higher. 
• The system is designed in a way where we can attach it to a single chart where the system monitors 10 currency pairs to ‘derive the index values’ of 5 symbols and trades multiple currency pairs automatically. It inverses execution speed significantly. 
• GBP/JPY, EUR/JPY, USD/JPY, EUR/USD, GBP/USD, EUR/GBP, and XAU/USD trades are based on the currency index system, which “calculates the relative strength of EURO, GBP, USD, CHF, and YEN.”
• The EA can provide 200-400 pips monthly. It sounds weird, especially thinking about the 150-pip goal for each open deal. 
• The robot opens 3-4 orders a week. 

• The 95% win rate is a lie. The real one is less than 50%. 

• The company designed the EA on a weighted Index value that calculates relative strange for every symbol. The strategy works for GBP/JPY, EUR/JPY, USD/JPY, EUR/USD, GBP/USD, EUR/GBP, and XAU/USD. 
• “The EA trades pairs when one of the index components strengthens, and the other weakens.”
• The robot opens orders during the volatility of GBP/JPY and Gold based on the next symbols: USD/JPY and XAU/GBP. The time frame is H1.
• The system works with volatility on the USD/JPY pair, trading on the daily time frame. 
• This requires an insane amount of margin to keep orders on the market during the drawdown periods. 
• The robot trades a Trend-based strategy on the EUR/JPY symbol.
• There’s a swing strategy on the EUR/USD, GBP/USD, and EUR/GBP symbols applied.

There are three subscription-based packages that vary by range. The three-month subscription is featured by  600 pips and costs $270. The six-month subscription costs $378 and “includes” 1500 pips. The annual version of it costs $540 and allows obtaining 3000 pips during the period. 

The packages include in common:

• We are able to work with EUR/GBP, EUR/JPY, EUR/USD, GBP/JPY, GBP/USD, USD/JPY, and Gold.
• The subscription will be extended if the goal is not reached. 
• There are two licenses for real and/or demo accounts provided. 
• There’s no mention of a refund policy. 

IndEX EA backtests

The backtest was performed, uniting all symbols and strategies. The period was set from 2007 to 2018. There were 53,760 pips gained. The maximum drawdown was 1373 pips only. An average win was 123 pips when then an average loss was -67 pips.  

Trading results

There’s a fxblue report published. It was a demo USD account. It was deployed on February 17, 2020. The closed profit was -$1,708.94. The balance was $8,291.06. 

The monthly profit often fell under 0. 

The robot worked with EUR/GBP, EUR/JPY, EUR/USD, GBP/JPY, GBP/USD, USD/JPY, and Gold pairs. The total net profit was -16,1%. The average monthly return was negative -1.5%. The maximum drawdown was 27.2%. The accuracy rate was 42.1%. The average trade frequency was 0.6 trades daily.

There were GBP/JPY and Gold traded with profits.

The robot traded both directions with a Profit Factor of less than 1 equally.

The expert advisor worked with a single trading strategy on this training account. 

The most-traded day was Wednesday – 52 deals. 

The last deals were closed with significant losses. 

Other notes

The company provides extra service no one needs, not because they may be bad but because the main system is a scam. 

People feedback

There are several comments published. We can’t be sure these faceless testimonials are from real clients especially taking into account the fact that there’s no feedback across the web on the communities like Forex Peace Army or Trustpilot. 

Wrapping up

Advantages

• Backtest reports provided
• Trading results provided 

Disadvantages

• No team revealed
• No settings explanations provided
• The robot was stopped not so far ago
• No real account trading results provided
• Pricing is subscription-based
• The offer is overpriced for every pack 
• There’s no money-back guarantee provided

Summary

IndEX EA is a scam-like trading solution. The system was not profitable and stopped running on the demo USD account in the near past. We have no idea if the developers mind fixing it or it’s just the end. So, we’d like you to avoid this trading solution for your best.

The Best Forex Robots Report Is Already Here!

Check out 30+ best expert advisors with daily updated live results and statistics.