FXAdept robot is another FX robot which is an addition to the thousands of robots out there. Fortunately, this robot has some trading history (about two months) and is now available on Myfxbook for review. FXAdept is one robot whose metrics have to be carefully analyzed so that a determination of whether it is a trading software to trust or not to trust can be made.
FXAdept robot: To Trust or Not to Trust?
A deep analysis of the trading history of FXAdept on Myfxbook has been made by our team of eagle-eyed analysts. On face value, you can see that the software has posted a profit of 13.3%. But to find out how trustworthy the software is, we have to go deeper than this. We have reviewed the figures and we are convinced that FXAdept is software not to trust for the following reasons:
a) Confusing and Unreliable Trading Results
The data posted are not as straightforward as they appear. Let us start with the account balance chart. The spike was caused by a further deposit made by the FXAdept owners. In fact, the balance hardly grew when the robot was active. This is seen in the flat nature of the chart before and after the 2nd deposit. You may think the spike was as a result of the robot’s performance, but it is not.
Now let us look at the monthly performance graph of the FXAdept robot. We can see clearly that the performance charts are all flat. Why would anyone trust a forex robot that hardly makes any money?
b) Misleading Appraisals
An online search reveals that there are several “reviews” of FXAdept which are actually praising the robot’s performance. One really wonders how these reviews were obtained: were they paid for, or are these reviews a genuine attempt at appraising the performance of the robot from the standpoint of verified usage? Whatever the case, some of these reviews are not objective and they hardly address critical performance metrics of the FXAdept robot.
At $269, the cost of the FXAdept robot is very high. Many successful robots do not cost as much as this. Providers of successful forex robots have found out that clients these days are more interested in performance-based costing of trading products and not on paying high one-time fees. It would have made more sense to charge users a monthly fee so that traders can pay for the cost of using the robot directly from the profits made by the robot.
Charging users such a high amount for a one-time fee when there is virtually no guarantee that the robot will make any money is not something many traders will like to do. Of course, the performance stats show clearly that the robot is not profitable enough to support an alternative pricing model.
d) Lack of Verified Reviews
Popular review sites which provide a platform for verified users of forex robots to offer first-hand accounts of their experiences are devoid of any reviews for FXAdept. A forex robot that commands attention in the market as a result of stellar performance will usually attract a lot of verified reviews. Not so with FXAdept. We searched far and wide for users who could verify that they have used the product and are replicating the profit claims on the FXAdept site, and we found none.
Conclusion: FXAdept Robot Cannot Be Trusted
The FXAdept robot cannot be trusted to deliver on any of the claims made on the sales page. The team behind the product has displayed results it says are from Myfxbook on their sales page. But our own analysis indicates a robot that is at best, not delivering any profits. The evidence of this can be seen with flat profit and balance graphs. The robot is too expensive, and there are no verified reviews to at least back up some of the performance claims. FXAdept is a robot not to trust.