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CABEX seems to have found the secret to trading the GBPUSD currency pair. According to its sales site, the forex robot has been created using a rock-solid strategy with proven performance to curb the spikes in the GBPUSD currency trade. Throughout this article, we perform an EA review for CABEX to determine whether it’s a scam or not.
Table of Contents
What is CabEX EA?
CabEX EA is a 100% fully automated forex trader that trades on the GBPUSD currency pair. The robot is MT4 compatible and doesn’t use Martingale, grid, or the scalping technique. We were unable to determine who created this bot or where it is located.
There are two ways of subscribing to this bot. The first way to buy the bot is by paying a $540 annual fee, giving you access to two real accounts and two demo accounts. This subscription is suitable for people that don’t want to spend too much on a robot. The start-up cost is quite low. The next subscription type costs $1450 for three years with two real accounts, two demo accounts, and long-term use.
Because this bot’s creators can’t ascertain that there would be profitable within the first month, they have withdrawn their money-back guarantee. After subscribing to this software, you will have to wait for a 6-hour validation process before you start trading.
CabEX EA: Analysis
CabEX works by utilizing the price action and moving averages trading logic to understand the market movement to open and close trades at the opportune time for profit gain. The logic is based on the golden rule of trading, where the grid or martingale method is forbidden. The bot can work with both NFA and FIFO.
The robot trades within an H1 timeframe and also utilizes modified stop loss levels and targets. The main reason for its success is the noise cancellation technique it applies when analyzing market trends. The website promises a 40% to 60% annual percentage profit and less than 22% in drawdowns. CabexEA can work on any leverage and hasn’t set a minimum deposit.
Stats and Community Review
The forex bot’s website is wonderfully done in a careful thought process. Everything is explained and planned well. The backtests show an estimated +1667.74% gain total with a 0.13% gain daily. The expected profit factor is 1.37, with a 22% drawdown. The backtest also shows a 50% win or loss which isn’t promising.
The real-life, verified record shows another story with an almost 40% drawdown and a downward growth and profit spiral. The absolute gain as of April 2021 is +38. 23%, with a daily 0.01% daily gain. The 50% win expectation remains. We couldn’t find any user reviews for this EA.
Final Thoughts
The lack of transparency in terms of who is creating and upgrading the bot and where is questionable. The bot seems to be working on crutches at the moment because of the downward spiral in profit and growth. We would give the bot a little bit more time to recover before starting to trade with it.