FX Ekspert EA Review

FX Ekspert is a forex EA developer that has launched a scalper expert advisor and a moving average expert advisor for the traders. They claim to be very experienced in the financial market and provide the best EAs in the market. Let us verify their claim with an honest review.

The website is designed well and the content is well-organized. However, much to our disappointment, the site does not disclose any information about the developers except their names. This is not impressive and we would not consider using a robot if we do not know who the developers are, and where they are located. 

FX Ekspert EA Offered plans

FX Ekspert offers two licenses for 1 MT4 account. You can purchase a 1-year license for 600.00 Euros and a lifetime license for 1,200.00 Euros. You have to register an account at the RoboForex webpage and verify the account to purchase. Then you can make a deposit and open a standard account and purchase your license. The EA also offers a demo account for free so you can practice trading without using real money. 

Automated Trading Strategy

The developers of FX Ekspert provide very little information about the trading strategy. It is mentioned multiple times that they apply a unique algorithm, but the algorithm or the trading strategy is nowhere explained. Being in the competitive market, a vendor that does not provide proper information and explanation does not stand a chance against the other EAs in the market. The only information we get is from the results page. It says that the EA is a scalper and it also uses the moving averages indicator.

Strategy Backtests

FX Ekspert does not provide any backtest reports, which is very disappointing. Without viewing the backtest results, we cannot understand how well the robot can perform in different market conditions. This is something that the developers need to give a thought.

FX Ekspert EA Live Trading Performance

There are two links to trading results on the page. One is for the scalper account on Myfxbook, and the other one is for the moving average expert advisor. However, when we click on moving averages, it shows an error. We are redirected to a Myfxbook page, but it says “The page you’re looking for was either removed or doesn’t exist”. 

Moving forward, we proceed to the account of the scalper expert advisor. The first thing we notice is that the track records are not verified; only the trading privileges are verified. The chart is very recently updated, and all data is open for us to see. 

This account started trading on February 9, 2020, with $13245 in deposits. It has made a profit of $8029.43. The balance now is $12236.43 because $9038 has been withdrawn from the account. The gain and absolute gain are +156.31% and +60.62% respectively. The daily and monthly are 0.68% and 22.67% respectively. The account has maintained impressive equity of 99.54%. However, the drawdown rate is high at 55.21%.