AX Trader is one of the ATS tools promoted by the LeapFx group. This FX robot promises 39% monthly profits with its automatic trading features. The vendor assures more than 100% profit in 3 months. Advertised as a beginner-friendly system, this MT4 tool uses features like TP and SL in automated form to ensure profitable trades.
Detailed Forex Robot Review
Presented as an FX robot that has achieved plenty of winning trades, this EA trades on multiple currency pairs. As an MT4 tool this EA focuses mainly on the EURUSD, AUDUSD, USDCHF, USDJPY, USDCAD, and the GBPUSD pairs. The vendor mentions that this system does not need any intervention or monitoring with its automatic trade execution features.
Other features mentioned on the site include an integrated news identification system for spotting extreme volatility and benefiting from it, full set up guide and support, automatic money management, and adaptation to market conditions.
Just as with other LeapFx products, we could not find any vendor info like location address, phone contact, etc. The only customer support option present is an online contact form. We suspect this is not a reliable system from the lack of vendor transparency.
AX Trader Strategy Tests
As per the details furnished by the vendor, this EA uses a unique trading approach. It consists of a combination of Fibonacci calculations and trend approach. All trades are dynamically managed and the vendor assures that the approach used helps in improved profits and enhanced account growth.
No backtesting results are present on the site. The lack of strategy tester report is an oversight by the vendor as traders look for backtests to know about the performance and strategy effectiveness. Although the test results are not predictive of similar performance in the future, they are an important part of testing the efficacy of an EA.
Real Live Account Trading Results
The vendor provides trading results verified by the FXBlue and Myfxbook sites. Here is a screenshot of a real USD account traded through the Blaze Markets broker using the leverage of 1:200 on the MT4 platform.
From the trading stats shown above, we can see the total profit and absolute gain values are similar at 133.52%. A drawdown of 67.99% is present for this account which has a total deposit of $5000, a balance of $11,676.11 and an equity of $11,590.67.
The trading duration of this live account is from April 2021 during which a total of 5870 trades have been completed with a profitability of 79%. A profit factor of 1.63 and lot sizes ranging from 0.02 up to 0.04 are present for this account. From the high drawdown and huge number of trades we can see that a dangerous strategy is used which can put the entire account at risk.
An annual membership costing $297 and a lifetime membership offer costing $497 are on offer for this EA. Features provided for the two packages are the same except for the duration of access to the software.
Free updates, trade recommendations, and full customer support are on offer. A money-back guarantee of 30 days is given for users who want to return their product after not being satisfied with the working of the EA.
When compared to the current price of EAs in the market the fees for the annual and lifetime membership are overboard and need to be reduced for traders to consider purchasing the system.
We could not find user reviews for this FX EA on trusted third-party sites like Forexpeacearmy, Trustpilot, etc. But we found reviews for the LeapFx group on the Forex Peace Army site. There are a total of 14 reviews posted with a rating of 2.944/5. Here are a few screenshots:
From the feedback it is clear that the strategy used is a risky one that has blown the account of a user and has resulted in considerable loss for another. The unresponsive customer support is also present in some of the reviews.
AX Trader is an MT4 tool designed to increase profits with minimal losses. From our evaluation of the FX EA, we can find that the trading results show a high drawdown which indicates a high-risk trading approach.
Furthermore, the lack of vendor transparency and backtests confirm our suspicions that this is not a safe EA to use. Contrary to the claims of the vendor, there are very few benefits this system can offer to traders.