AX Trader is a trading robot that uses high-frequency trading to ensure a monthly profit of nearly 39%. It uses a hybrid approach for placing accurate and frequent trades. The vendor claims that the system has achieved more than 100% profits in just 3 months. In this review, we analyze the features, performance, support, and other aspects to verify the claims of the vendor.
AX Trader company profile
This FX EA is designed and promoted by the LeapFX company. A team of professional traders helps design the automated systems promoted by the company. There are no company details like founding year, location, team members’ credentials, phone number, etc. The lack of info makes us suspect the reliability of the company and its products.
The highlights of AX Trader
Some of the important features the vendor highlights for this EA that make it competitive are:
- A compounded monthly profit of 39% approximately is generated by the EA.
- It does not need any monitoring or intervention and executes trades automatically.
- A news detecting feature is inbuilt in the software to profit from market situations with extreme volatility.
- Integrated money management that is fully automated is present in the FX Robot.
- The FX EA can adapt to any type of market condition without tweaking the settings.
- It works on 6 currency pairs: AUDUSD, USDCAD, USDCHF, GBPUSD, EURUSD, and USDJPY.
The vendor does not provide recommendations for the minimum deposit, leverage, timeframe, brokers, etc. For the strategy, the EA uses the trend method and the Fibonacci calculations to identify and execute trades accurately. All orders are dynamically managed in an automated manner without any adjustments or inputs from the user.
Facts & figures with AX Trader
No backtesting results are present for this FX EA. The vendor provides a real USD account verified by the myfxbook site. Here are a couple of screenshots of the trading results.
From the above stats, we find the account uses the leverage of 1:200 on the MT4 platform. It shows a total profit of 368.1% and an absolute profit of 376.78%. A daily profit of 0.59% and a monthly profit of 19.43% are present. The drawdown is 67.99% which is very high indicating a risky approach.
For a deposit of $5000, the account that started in April 2021 has completed 15593 trades. Profitability of 79% and a profit factor of 1.52 are present for the account. From the trading history, we can see varying lot sizes are used starting from 0.02 to 0.06. The varying lot sizes also denote a risky approach that can endanger your capital.
AX Trader packages
To purchase this FX EA, you have two packages to choose from. One is the annual membership costing $297 while the other is a lifetime membership that costs $497. The packages include the trading software, free updates, the best recommendations, customer support, and a 30-day money-back guarantee. Compared to the prevailing price of similar systems in the market, we find this EA is overpriced.
For support, the vendor provides an online contact form. There are no other methods like live chat, FAQ, phone number, location address, etc. User reviews indicate the support is not effective. Here is user feedback complaining about the non-responsive support.
We found feedback for the LeapFX company on the FPA site. There are 16 reviews with a rating of 3.152/5. Here are a few of the feedback.
From the above testimonials, we find the EA is of a high-risk type and can wipe out the entire account easily.
Is AX Trader a reliable system?
Some of the facts that we have identified in this EA will help you decide on its reliability:
- The vendor does not provide adequate info regarding the company and the developers which indicates a lack of vendor transparency.
- From the real trading results, we can see a high drawdown and varying lot sizes indicating a risky approach.
- User feedback for the FX Robot shows that it is a risky product.
- On the positive side, the vendor provides real trading results verified by the myfxbook site.