Thousands of Forex robots have flooded the markets today, FXAdept robot being just one name among them. Luckily for enthusiastic traders, the robot possesses some trading history (approximately a couple of months) and is also up for review on Myfxbook. Like many other forex robots in the market, in order to ascertain whether the trading software or robot can be trusted or not, the metrics of the FXAdept robot need to be analyzed carefully.
FXAdept EA: Trustworthy or Not?
The FXAdept robot’s trading history as listed on Myfxbook has been deeply analyzed by our qualified team of hawk-eyed analysts. On the face of the account, one can see that the fx robot has reported a 13.3% profit. However, this isn’t enough to determine if the software can be trusted or not, one needs to dig further than this. So, we have reviewed and analyzed the figures thoroughly and we are convinced that FXAdept isn’t a robot one can trust. This is because of the following reasons:
a) Bewildering and Undependable Trading Results
The data that has been posted on the account isn’t as clear and straightforward as they seem to be. To begin with, the account balance chart features a spike that was generated due to the additional deposits made by the owners of the FXAdept robot. In reality, the balance showed hardly any growth while the software was active. This is clearly depicted by the flat line on the chart prior to and post the 2nd deposit. While one might think that the robot performed well to cause the spike, the reality isn’t so.
Looking at the monthly performance charts of the trading software, one can clearly see that all the charts are flat. The question raised here is why would one trust the FXAdept robot when it is hardly generating any profits.
b) Misleading Appreciation
If you search online, you will come across several FXAdept reviews that are all praises for the robot and its performance. This gets one to really wonder how the reviews have been obtained – Were the reviews paid for, or, are they genuinely an attempt to praise the robot’s performance from someone’s viewpoint, having actually used the robot. No matter what the scenario, some of the positive reviews are far from factual and merely address the robot’s crucial performance metrics.
c) Pricey!
Compared to the numerous successful robots in the market that are reasonably priced, the FXAdept robot is a costly one, priced at $269. Providers behind successful trading robots have discovered that traders are not keen on bearing a one-off high price. Rather, they are bent towards trading tools and robots that follow performance-based pricing. Charging a monthly fee would have been a more sensible option as the traders could use the profits earned by the robot to bear its cost.
Charging a high one-time amount from the users is perceived as many by essentially no guarantee of profits by the use of the robot. Though this isn’t something many traders like, it is clear from the performance statistics that the FXAdept robot doesn’t make enough profits to follow a different pricing model.
d) Ansence of Verified User Reviews
There are many renowned review websites that offer verified users a platform to share their experiences of using different forex robots. One cannot find reviews of FXAdept robot on any such platforms. A robot that performs exceptionally and commands market attention generally attracts many reviews by verified users. However, this isn’t the case with FXAdept. Even after searching far and wide for verified users of the robot who could replicate the profit claims made by the FXAdept robot, we were unable to find any.
Conclusion: FXAdept Robot Stands Untrustworthy
After thorough analysis, it can be concluded that one cannot trust the FXAdept robot to deliver what it claims on its site. Even though the FXAdept team has displayed performance results – that it claims to be from Myfxbook – on their sales portal, our analysis of the robot’s performance indicates that it fails to deliver any profits. The flat nature of the balance and profit graphs serve as clear evidence of the same. The product is not only highly priced but also lacks verified reviews that could back the claims made by the robot. The FXAdept robot cannot be trusted.