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Fx Splitter is one of the unique trading robots in the forex market today. Instead of conventional trading methods, this FX Splitter EA has combined several trading strategies, including Martingale and Grid, to develop a basket trading option. We analyze the robot’s trading mechanisms, stats, history, and available user reviews to determine whether it’s a worthy trader.
Table of Contents
What is FX Splitter EA?
FX Splitter EA is a basket trading robot made by Argolab. From its website, we can’t determine who the bot’s creators are and if the bot is licensed in its country of origin. The EA is compatible with MT4 and runs on several currency pairs, including their most predominant pair, the EURUSD, AUDUSD, EURGBP, GBPUSD, NZDUSD.
You can subscribe to the robot two ways. The first package costs $169 and consists of the bot’s software with two trading accounts (one Demo and one Live) and 24/5 user support. You can change the account numbers unconditionally any time you want.
The minimum deposit you can place in an account is $70. You can access the second package only if you already have the first account. For an additional $99, you can add two more accounts to the original trading account.
FX Splitter EA Analysis
This is a basket trading robot, which means traders can buy and sell currency pairs where the market lines up. This happens because trading robots collect all these currency pairs and ensure that they enter the market at the opportune time and close in profit. The bot uses Martingale and the Grid strategy to perform but doesn’t involve the use of scalping. On average, a trade can last between 2 and 6 hours over a 1-hour trading chart.
Because the bot can automatically adjust to whether you’re using a 4 or 5 digit broker, you can use any broker of your choosing to trade. Splitter recommends the use of VPS to protect your computers while trading.
The EA plays around with your trades by increasing lot sizes on new trades to ensure a trade ends in profit. When the transaction has reached its take profit, the bot automatically closes that trade and opens another.
FX Splitter EA Stats and User Reviews
The creators of this bot have presented us with numerous backtests, but we will analyse the first one. The backtests set upon a 99.90% modelling quality. The initial deposit for this particular account is $12000. The expected profit factor, in this case, is 2.20. The backtests then show us short and long positions and how they fare.
The robot’s last submissions to Myfxbook was in 2019, and we haven’t seen other stats since. The stats show steady growth, especially from December 2916 and the profit was on an upward trend. The drawdowns were minimal, which is a plus, except when they spiked in May 2019. The tracking records are verified, and the account at that time was recording a +1205.24% gain.
We were unable to find any user reviews on this popular trading bot.
Final Thoughts
We checked the website and were unimpressed by it. The website seems like a thought or created by amateur programmers. The trading data on Myfxbook stopped being shared in 2019, which could mean that the robot stopped being successful at the moment. Long trades aren’t favourable because who has that much time to monitor their trades. We don’t recommend using this EA.