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.
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 |
