Today, we carry out the FXHelix EA review. This Robot is 100% automated, aiming to reduce efforts by traders while enabling them to reap maximum profit. It is capable of working with the MT4 and MT5 trading platforms.
FXHelix EA is an interesting forex robot. Therefore, we analyze it to determine if it’s a worthy investment option. Additionally, we look at the strategies it has employed, the stats, and user reviews.
What is FXHelix?
It is a fully automated forex robot that trades AUDUSD currency pairs. The website claims that 90% of the time, this EA does not utilize the martingale approach. In rare cases, the robot may increase the lot size to achieve profit. Moreso, this robot can open multiple accounts to achieve profits.
In terms of strategy, this robot analyzes historical price movements. Once it notices movement against the expected normal average, it opens a trade. The basis for this strategy is the guaranteed amplitude of fluctuation in prices. Analysis of recent historical data gives the EA insight into finding price deviations.
Moreover, the EA uses pending orders for quick execution of trades and minimizing slippage for the opening price. The website states that this EA is not a scalper, neither is it an Arbitrage EA.
The developers admit that trades can stay open for long periods. However, their ultimate aim is to bring in profits every month. The website claims that the EA can work with small deposits. For instance, with an initial deposit of $240 and a lot size of 0.01, the EA can leverage from 1:500. FXHelix EA is also compatible with NFA rules.
Lets look at some performance statistics coupled by user reviews to determine credibility of this EA.
FXHelix Review: Statistics and User Review
The developers have provided backtests results spanning a period of 3 years. One shows a risk setting of 100%, while another is at 35%. For the trades done with a 100% risk factor, the net profit stood at $921,760 from an initial deposit of $10,000. However, drawdowns were recorded at 95%.
For the trades done with a 35% risk factor, the net profit stood at $49,022 from an initial deposit of $10,000. However, drawdowns were recorded at 34%.
Looking at verified real accounts from Myfxbook for this EA show almost similar stories. Gains over a period of less than a year stand at +335%, while the drawdowns stood at 30%. Profit stands at $3,357 after an initial deposit of $1000.
The results are impressive. The drawdowns are manageable, and if you are in for the long haul, you are bound to make some profits.
We checked for user reviews from reputable sources. However, we could not find any.
Verdict: This EA does exactly what it promises. It achieves small profits over a period of time, with a risk of about 30%. We would recommend replicating the settings for the real live money account for new traders to achieve similar results.
Developers have tried to explain their strategies. Priced at $249, this EA is not a bad buy. It is not overly expensive, and we have proved that it’s able to bring positive results. Another positive is the fact that the website offers a 30-day money-back guarantee. The only downside we found is the lack of verified user experience.