The vendor of Absolute FX purports that the system can attain 99.5% win rates based on the backtests in 2015-2020. Even then, we are reminded that past performance is not indicative of future results. But is there more to this EA? Join us in this review as we try to answer this question.
The presentation of Absolute FX on mql5 is not that impressive or unique. It is divided into a few sections that describe its features, strategy, pricing, customer reviews, and the vendor’s profile. We also have links to a Telegram channel that traders can use to communicate with the devs. Past and current trading results have been published as well.
Absolute FX is cheap. The vendor is selling it at $75. Before purchasing it, you can download the demo version for free and use it to test the effectiveness of the EA’s strategy. If you are satisfied with the results, you can then go ahead and acquire the tool. A money-back guarantee is not present.
The seller of this product is known as Aleksei Ostroborodov. He is from Russia. Aleksei is the founder of Smart Forex Lab, a firm we believe specializes in developing and selling Forex products. Euphoria, True Range Smart, True Range Pro, and Candelabrum, among others, are also the creations of this company. However, traders who would like to know the qualifications and experiences of the vendor they are dealing with will not find the aforementioned profile description useful.
Absolute FX is a scalper that focuses on reversal patterns. Aleksei states that no grid and martingale are used, but this does little to convince us that scalping is safer and advantageous. The low return rate of this approach cannot be overemphasized enough. It can also cause significant and far-reaching losses if the EA makes the wrong move in the market.
Absolute FX mainly works with the EURUSD and GBPUSD currency pairs on the M30 timeframe. The minimum deposit required for the system to start trading is $200, while the leverage used is 1:50 and above. Weltrade brokerage comes highly recommended. Other features of the EA are listed below:
- Calculated/hard stoploss and take profit.
- Manual/risk/auto volume.
- Spread control.
- Regular/relative levels.
Here we have a 5-year backtest report indicating that the robot supported the GBPUSD pair and used the 30 minute time frame as it engaged in trades. A leverage of 1:200 was used too. With a deposit of $3,000, the system implemented 351 trades, attaining a profit of $21,548.89 as a result. The equity maximal drawdown was 22.54%. The short and long trades performed well, as shown by 100% and 99.41% win rates respectively. The average profit trade was $61.59, and the average loss trade was -$5.88.
Since its inception on February 25, 2021, the account has only made a profit of $135. It is quite evident that the EA does not trade lucratively. The monthly gains of 2.05% are just sad. The drawdown is 10.5%. To date, the balance has increased to $1,133.23, up from $1,000.
The 51 trades completed in 7 months the account has been active raises serious concerns. It means that, on average, the system executes 7 trades per month. So, even though the long and short trades have been 100% successful, the gains made are not enough to raise the account’s value. The average win is 6.99 pips, and the lots traded are 2.02.
Take-profits were placed. Even if the system made profits throughout, they were very small and not enough to grab the attention of potential traders.
There’s only one customer review for this EA on mql5. This feedback is not sufficient to help us gauge how buyers really feel about Absolute FX. Our search for more testimonials on other sites like FPA, Trustpilot, and Myfxbook yielded no results. Therefore, we will have to wait longer to see if the system will have more buyers, and consequently, additional testimonials.