In this post I will be reviewing the Fx Splitter EA. This is a fully automated forex trading system for the MetaTrader 4 trading platform.It was developed by Argo Labs who have other forex robots that I have previously reviewed including Forex Warrior and AsA Fx. It can place and manage trades on behalf of the user. In order to use this forex robot, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
Fx Splitter EA Trading Strategy
Fx Splitter uses a basket trading forex strategy. It places individual trades during specific time intervals. Whenever a new time interval occurs, Fx Splitter can either enter/exit a trade or do nothing and wait until the next time interval. The decision made by the robot during these time intervals depends on the current market conditions.
It uses a martingale system that will increase the lot size to recover from losing trades. As the amount of trades increase so do the lot sizes, until the take profit target is reached and all trades are closed. This can lead to substantial drawdowns and if the take profit is not reached can leave you with multiple orders opened with increased lot sizes. This makes it very dangerous in my opinion.
Fx Splitter EA Back Testing
The Fx Splitter website has a large amount of back tests published and has also loaded them into MyFxBook so you can give them a more in depth analysis. The modelling quality is 99% which means that real tick data was used during back testing. Interestingly the spread used in the back tests is not shown, I would have preferred this information to have been included and preferably real variable spreads used. There is simply too many back test results to include in this review but you can see an example below and view them all on the Fx Splitter website.
Fx Splitter EA Live Results
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Fx Splitter EA Summary
Overall, I would personally avoid using this particular forex robot. I find that it is too risky for my personal taste. I have conducted many forex robot reviews and there are alternative options that I would prefer over this EA. It does however come with instructions, full support and a money back guarantee.