Today I’ll be analyzing x Forex robot called XoForex expert advisor. (Called XoForex EA in short)
It’s a fully automated Forex trading system created by Marco Ross and his team of professional traders. What makes it different from most robots is that it can work with or it can be used on MT4, MT5, CTrader and LMax.
No minimum account
Works with multiple currency pairs including AUDCHF, AUDJPY, AUDUSD, CADJPY, EURAUD, EURCAD, EURGBP, EURUSD, NZDJPY, NZDUSD, USDCAD, USDCHFB & USDJPY
Time frame: N/A
Requires only few minutes of time to trade
Comes with automatic updates. (automatically updatable)
It calculates signal based on indicators & math. Hence , it gives over 90% trading accuracy. The best thing about this program is that , you can get started with it as little as a $200 investment for 0.01 lots. It’s $99 per month.
Once a customer subcribes initially or orders their copy of XoForex Expert Advisor , they an email from their office with a link to a unique cloud what includes the login details.
The operations of the robot are maintained in that cloud. So, users don’t have to worry about setting up VPS to run the application. No need to plug their trading platform too. So, of course it’s a great news. But all these features and advantages are totally useless if we can’t translate them into profit.
Everything looks sound, in fact totally great with this robot except for high pricing. It’s one of the most expensive robots for trading Forex on the web. This EA developer wants a $99 a month which is extremely rare in this market place. It could be that there are new to the market place but I would certainly expect them to change these at some point in time. It just doesn’t make any sense to charge $99 as a monthly fee when they are targeting clients who are not willing to find their accounts with more than $200. This is definitely not the best way to the business with traders on the internet. No client on a $200 account gaining 20% per month would ever make any profit.
In fact a client on a $200 account would lose $50 every single month, just paying the subscription costs.
Coming across this robot developer I really wanted to see their “my Fxbook account” because of their steep monthly fee ,What I have found is the account has been running just over a month with a maximum gain of 43%. Whereas drawdown of it was 22%.
We can see that it had an approximate gain of 24%(24.49%) per month, which is pretty good. In fact the robot was also managed a handful of using positions floating around. At the time of this review there are 5 open trades which are currently 7.70%. I don’t think it’s a major issue, as these traits could easily bounce back in no time. But it would be a real issue if the drawdown started to increase rapidly to the highest drawdown have been seen with this account is 22%.
Certainly there’re some drawbacks in XoForex EA along with the positives. But the results of “my FxBook” is pretty amazing and impressive. I would recommend to use the XoForex Expert Advisor demo account for a while to see how it goes before using it in a real account for new people/customers just to be familiar with the trades and lessen the risk. At the end of the day all I can say is, using your XoForex EA sensibly can surely get some good returns.