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