Aspex EA is a Forex expert advisor that works on the Metatrader 4 trading platform. According to the developer, this robot has a profitability of 90-95%. They also claim that this robot is extremely easy to set up on the trading platform.

Product offering

The presentation on the official website does not give us a clear idea regarding how the EA functions. We have a short description of the robot along with the vendor’s recommendations, the pricing details, and a brief section about the parent company. Also, there is a contact form you can use to get in touch with the support team.

We don’t have much information on the parent company behind the EA. It consists of a team of expert software programmers who developed this system back in 2017. We don’t know the identities of the team members or where the company is based. It is unclear whether they have built automated trading systems in the past.

There are two pricing plans for Aspex EA. The first one, which lets you trade using a single account, comes at a price of $499. For the second plan, you get to use two real accounts for $899. Both of the plans come with unlimited usage. The prices are pretty close to the market average, but unfortunately, there is no money-back guarantee.

Type Fully-automated EA
Price $499
Strategy Trend following
Compatible Platforms MT4
Currency Pairs GBP/USD, GBP/JPY
Timeframe H4
Recommended Min. Deposit N/A
Leverage 1:500

Trading strategy

This is a fully-automated expert advisor that works on H4 charts, but it is mentioned that the robot can trade on all timeframes. The vendor recommends using the EA to trade in pairs like GBP/JPY and GBP/USD. 

This EA has an advanced risk and lot management system. As such, the EA can automatically select the appropriate lot size based on the account size. It has a pure trend following strategy that tries to take advantage of the major trends in the market by buying a pair when the trend moves up and selling it when the trend goes down. The general assumption is that the trend will continue in the expected direction.

Trading results

Growth chart for Aspex EA on MQL5.

At this moment, there are no verified trading accounts for this EA on websites like FXBlue, Myfxbook, and FXStat. Here, we have a trading account on MQL5 that was launched on 16th December 2021. After completing 425 trades, the win rate for this account currently stands at 80.94%. In spite of this, the account is currently running at a loss of $623.73. This tells us that the EA has suffered some heavy losses along the way.

The maximum drawdown for this account is incredibly high at 93.5%, and this indicates a risky trading strategy. We can see that the average profit and loss for this account are $306.77 and $1310.51, respectively. Thus, it is clear that when the EA loses, it loses big. There have been 53 maximum consecutive wins and 9 maximum consecutive losses for this account. On average, the robot conducts 39 trades per week and holds each order for 14 hours.

Forex traders often look for backtesting results before investing in an EA. These tests are conducted using historical data worth several years. They reveal the long-term performance of the system by exposing it to different market conditions. Unfortunately, the vendor has not shared the historical test results for Aspex EA.

Customer reviews

Customer reviews for Aspex EA on Forex Peace Army.

There is only a single user review for this robot on Forex Peace Army. This tells us that not many people are currently using this EA for live trading. In this review, the user has stated that the service is a scam. They have claimed that the managed account was exhausted in less than a month. This is in line with what we saw in the live statistics. 

Real account for Aspex EA on Forex Peace Army.

Here you can see a real account for the EA that was active from April to September 2020. The average profit/loss was -0.21% and the average pips per week were only 3.

Looking for the best forex robot?Discover top-performing systems selected by ForexRobotExpert team
PROS
Affordable pricing plans
CONS
No verified trading results
No money-back guarantee
Lack of vendor transparency
5
Verdict
Aspex EA is a robot that is sold by a vendor we don’t know much about. The developer does not offer users the protection of a money-back guarantee. Although the plans are affordable, there are no verified trading results for this expert advisor.

Leave a Reply

  +  85  =  91