In this post I will be reviewing the XoForex Expert Advisor which is a fully automated forex trading system developed to run in the MetaTrader 4 free to download trading platform. You can use the XoForex Expert Advisor on a demo account for a while to see how it goes before using it on a real account. I would always recommend doing this when you start using a brand new forex robot as it will give you time to familiarise yourself with how it trades and ensure that you have the settings correct and also use a sensible lot or risk size. It was developed by a private group of traders who claim it is a consistent and profitable system and although it has only been running for a weeks at the time of writing this review it has started ok despite some drawdowns some traders would not be happy with. It is therefore more suitable for the forex trader who does not mind taking an extra bit of risk in order to get some good returns.
XoForex Expert Advisor Trading Strategy
The XoForex Expert Advisor trades a vast array of multiple currency pairs with a take profit larger than the stop loss so the winning trades are greater than the losing trades which is always a good thing! It does however seem to hold on to the odd runaway losing trade which is why the drawdown is higher than what we would ideally want. Perhaps if you are experienced in the MetaTrader 4 strategy tester then you could experiment with various different settings to try to avoid such a scenario. You do not have to trade it on all pairs but a few different currency pairs can give good diversity. For best results make sure that you trade with a true ECN forex broker as you will get the best spreads and minimal slippage, thus saving you on trading costs.
XoForex Expert Advisor Back Testing
There are no back tests on the XoForex Expert Advisor official website however we do have link to some real verified accounts so you can keep up to date with the latest performance of this particular forex robot.
XoForex Expert Advisor Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
XoForex Expert Advisor Summary
Overall, the XoForex Expert Advisor is a relatively new expert advisor as I write this review but it has made almost 50% returns. In saying that, as mentioned previously the drawdown is slightly concerning so make sure you would be happy with that before proceeding any further. It comes with full support, quick and easy installation guide and a money back guarantee.