FX Splitter EA by ARGO Lab describes itself as a “basket trading robot” built for the MetaTrader 4 platform. It specifically mentions that it does not use scalping as a strategy.

FX Splitter EA Offering

  • Trading Style – Time Based Martingale Grid
  • Developer – Argolab
  • Trade Length – 4-8 hours
  • Forex pairs – EUR/USD
  • TimeFrame – H1
  • Price: $169
  • Payment Support – WebMoney, PayPal and Skrill

Trading Features and Strategy

FX Splitter appears to belong to a special class of non-conventional EAs that utilise the Martingale and Grid Model.  Thus, FX Splitter can open a group of trades including both long and short positions. Each new trade introduced has a larger lot size than the previous one. However, unlike other grid based EAs, it bases its grid trades on time rather than price levels.

Trading/Back-testing Results

ArgoLabs does not maintain any official performance records, choosing client’s performance reports on myfxbook instead. The test covers a period from September 2013 to April 2019, as seen in the screenshot below.

fx splitter ea expired myfxbook trading performance chart

The above account has experienced a major growth with a 1219.37 % increase in equity. This is in line with most martingale EAs which usually experience growths above 1000 %. However, the drawdown is shown to be 28.38, not expected from a martingale grid system. The tests have been done using USD.

FX Splitter EA: Pros and Cons

After examining the features of this application, a collection of advantages and disadvantages are summarised below.

Advantages Disadvantages
·       Known Developer ·       Unfavourable Drawdown Rates
·       Forum Supported EA ·       No Live Trading Results
·       Verified Back testing Results

FX Splitter EA
Final Verdict
FX Splitter EA appears to be a good option for traders who prefer time based grid EAs, However, it takes a lot of extra knowledge to deal with the martingale and grid systems, and this is by no means a “key to success”.  However, given that the developers have a good reputation in the market with previously released EAs as well as verified trading results, it can be a good option than some of the high priced alternatives available.

Leave a Reply

8  +  2  =