Today our review is dedicated to another Forex robot Cabex EA. Going to the official devs’ site we see a beautiful box of the product with a golden horse. The inscription on the box promises us new opportunities in trading GBP/USD currency pair. Version 3.0 gives us hope that the product is systematically supported by the developers and receives important updates. Cabex

The sustained, business style of the product description, we’re very impressed: “With CabEX, you can trade GBPUSD like never before. Grow your equity consistently using this powerful professional trading strategy with three years of proven track record. Join the select group of successful traders running CabEX on over 1000 real accounts! “

More than 1000 real accounts running via the robot? Impressive! Let’s go deeper.

Cabex: To Trust or Not to Trust?

What would the devs like to tell us about the product? Cabex EA patterns are based on price action near mowing averages. The strategy is based on Non-Grid/Non-Martingale system. The robot is NFA/FIFO capable. About the profitability, we were suggested that the gain will be between 40-60% annually with the recommended risk. If we’d like to run this robot our drawdowns should be not higher than 15-20%. It’s truly high DD, but let’s be. Cabex trade management allows minimize risks and as for strong trades make more profit. 

The first chart they use to prove it’s myfxbook real USD account where the robot almost zeroed out. The second chart shows that the robot performs a little bit better, but we can’t talk about smooth trading at all. It goes up up and down. So… you don’t know where the robot stops running well and become a scum.

After these charts, we found out the trading strategy. Shortly, the robot trade USD/GBP on the H1 time frame and “the strategy is based on price action near moving averages – The EA identifies potential trends and reversals moves… The EA uses a hidden stop-loss at 60 pips… The hidden TP is at 300 pips. The EA has a very dynamic trailing SL system which moves the hidden SL to break even when the gain is above 50 pips. When the trade gains 100 pips, the hidden TSL is set to 50 pips,” devs said. Looks like it should work.

There are two price categories: $540/year and $1450/3 years. It’s high enough as for the robot that can safely (as they said) only 40-60% gain in a year.

No standard guarantee is available, but they said this “Refund can only be claimed in case of Non-Delivery or Non-Activation of EA.” is a standard one, but it’s not true. So… we’d like to say they’re not sure about performing the robot. If it was good as that they would set a “no-questions-asked money-back guarantee”.

Low trade results

The main account has got many of live accounts, but the seller has decided to prove the robot performance by these two. The first one is real EUR, with Darwinex as a brokerage company and on MetaTrader 4 platform.

Cabex myfxbook

The account well secured we don’t know about its performing almost anything, but frankly say, after looking on the chart we don’t want to. A closer look shows that in the last three year the robot systematically destroys the account balance. As they said 3 years of the robot costs $1450 and they suggest us pay this money to lose more money! They lied to us about 15%, max2 20% drawdowns, The reality is 45% DD. Is that level of DD a money-back guarantee. We think no, they’d suggest us to run it for several months to collect more data and lose more money.

Cabex myfxbook

During four years the robot has done 412 deals. More than half of them it lost. 

Cabex myfxbook

This robot performing is iconic proving our statement that after two years of running a robot has high chances to become a scam.

Cabex myfxbook

For now, the account slowly but surely goes to its death.

Cabex myfxbook

The seller would like you to pay $540 for this in order to let the robot make for you 7 deals in a month where four of them will be lost.

Let’s talk about the second account. It’s real EUR one, running Alpari UK as a brokerage company on the MetaTrader 4 platform.

Cabex myfxbook

It looks wise better than the previous one, but who cares if we see that the robot has been stopped five years ago. Both juice charts from the presentation have been lie.

Cabex myfxbook

The robot owner should pay for us for medicine when we will take a look for a year on the chart like this.

Cabex myfxbook

Totally, there have been performed 9 months from 12, where 7 of them have ended with losses.

High level of Drawdowns

I can’t see on the chart suggested 15% of DD.

“Zero” level of Transparency

Every important data to let us make a correct decision is hidden.

Conclusion: To Trust or Not to Trust?

The robot is garbage and both account performing prove it. We haven’t seen offered 15% of DD, as well as, 40-60% of annually gain, and finally, lack of transparency prove us in our thoughts.