Forex Robot ReviewsPassive Income

Aspex EA Review: Can You Trust It to Do Your Trading?

2 Mins read
3.4

Aspex EA is a high-cost system that claims to assess the market intelligently to identify trading opportunities. It works with several brokers, including FXChoice, HotForex, FXTM, and SF Super Forex. The devs intimate that you won’t experience challenges setting the robot up because they have made the process as easy as possible. 

Aspex EA company profile

The company that launched this software to the market is not mentioned in the sales pitch. In any case, we are rather informed that the system was created by several expert software programmers who love trading. Apparently, they ventured into the business of developing and selling automated tools in 2017. This, they say, enables them to provide everyone with the chance of earning big profits like them. 

The highlights of Aspex EA

The robot’s features are indicated below:

  • It is easy to set up on your MT4 account.
  • The system trades on all timeframes, but the H4 chart is recommended.
  • All currency pairs are supported, but for desirable results, the vendor suggests that you use the GBPUSD and GBPJPY currency pairs.
  • It offers advanced risk and lot management systems.
  • It adjusts lots according to the size of your account.

The devs say that Aspex is a pure trend following strategy and leave it at that. They don’t explain what this trading method entails to make the trader understand how the system searches for trading opportunities. 

Facts & figures

Live trading data on MQL5
Live trading data on MQL5

The above account is almost being wiped out, thanks to Aspex’s dangerous trading activities. As you can see above, the EA has generated a maximum drawdown of 99% in just 80 days of trading. The losses made have also accumulated to reach -$21744.58. As a result, the account balance has decreased sharply from $24201.43 to $1456.85. 

Trading performance
Trading performance

The profitability rate of the 494 completed orders is 82.38%. The loss made by the worst trade (-$26850) is far much higher than the profit generated by the best trade ($4531.51). This poor performance has definitely contributed to the deterioration of the account’s value. The profit factor of 0.86 also outlines the EA’s inability to produce any good returns on investment. 

Aspex EA packages

Two pricing packages are offered for traders who desire to use the robot. You can either pay $499 or $899 to acquire a lifetime license. The former plan only allows you to activate a single account, while the latter one enables you to trade on two live accounts. A money-back guarantee is absent. 

Assistance

Customer support is available. You can submit your feedback or questions about the EA to the team by filling out a ‘contact us’ form. No live chat or phone support is offered. 

Other notes

One trader has written a review on this EA on FPA. He is not happy at all, and accuses the system of burning his account in less than a month. 

User review on Forex Peace Army
User review on Forex Peace Army

Is Aspex EA a reliable system?

After assessing the system’s live trading stats, it became apparent that it trades with high risks to the balance. This, in turn, makes it prone to losses. Therefore, it can crash your account within a short time. 

Aspex EA Summary

3.4
The EA’s trading strategy is generally risky, as shown by the high drawdown. It is also expensive and doesn’t offer any refund policy. Anyway, the system is easy to use and trades automatically hence saving you the time you would have used assessing trading charts and placing trades manually.
2.0

Performance statistics

2.0

Reviews from customers

5.0

Ease of use

4.0

Implemented strategies

4.0

Pricing

Pros

  • +Fully automated
  • +Ease of use

Cons

  • -High drawdown
  • -Expensive
  • -No refund policy
  • -Lack of customer reviews
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