Today in the focus of our review is a fully-automated FXMath X-Trader robot whose developers remain unknown. However, there’s a FxBlue verified live trading account that uses a ruble as a base currency. So, we assume that its development team locates in Russia. The forex robot automatically trades USDJPY currency pair on the MetaTrader 4 platform.
FXMATH X-TRADER: Trustworthy or Not?
Our experienced team thoughtfully analyzed the product and decided that FXMATH X-TRADER is a software not to trust. Analyzing this expert advisor, we found several signs of unreliable software. They are listed below:
- Lack of information about the vendor;
- Unstable trading performance;
- Bad reviews from customers.
Lack of information about the vendor
The EA has a poorly designed website that couldn’t manage to provide a secure connection. Besides, the presentation includes random images that have nothing to do with the automated forex trading topic. It says none about implemented strategies or setup instructions, apart from recommended leverage (1:100 – 1:1000). The devs believe that FXMath X-Trader will show the same performance with any MT4 brokerage. Well, we think that this is nothing but an empty bold claiming, and it has to be proved on real customer accounts.
Unstable trading performance
As it was mentioned earlier, the vendor provides one live trading account verified by FxBlue. We prefer to use Myfxbook for precise analysis as it’s a more reliable service. Most of the profit made by FXMath X-Trader is coming from two huge spikes in March 2020. If we compare the real results chart with EA strategy back-testing report, it becomes evident for us that there’s some data manipulation on the FxBlue account. Therefore, we consider these results are unreliable.
Bad reviews from customers
One of the most crucial aspects when determining the trustworthiness of the software is reviews from its users. There are few testimonials on the official page telling how FXMath X-Trader has changed their lives. We all understand that they are 100% fake. After our research, we found only one user review on forexpeacearmy.com from which we learn that FXMath X-Trader is a scam.
Conclusion: FXMath X-Trader Is Not To Be Trusted
After examining this expert advisor, we’ve concluded that an average trader has no reason to give this software a try. The robot has all characteristics of a scam product, which we stated above. Therefore, FXMath X-Trader cannot be trusted.