Absolute FX Review

Sep 28, 2021 07:49 AM ET
Absolute FX Review

Absolute FX is promoted as a very lucrative trading tool. As per vendor claims, it has 99.5% proven profitable trades. Although we have confirmed this assertion to be true, you should be aware that the gains made are negligible and unable to add value to your investment. 

Aleksei Ostroborodov of Smart Forex Lab is the developer behind Absolute FX. He is based in Russia and has a variety of other trading systems under his name. Some of them include True Range Pro, Euphoria, Good Morning, and Traffic Pro. However, his skill-sets and trading experience in Forex remain hidden. 

Vendor’s profile.

Absolute FX

Type

Fully-automated EA

Price

$75

Strategy

Scalping

Compatible platforms

MT4/5

Currency pairs

EURUSD, GBPUSD

Timeframe

M30

Recommended min. deposit

$200

Recommended deposit

N/A

Leverage

1:50+

Trading strategy explanation

Absolute FX uses a scalping strategy based on reversal patterns. Therefore, the EA is a pure price action trading system; no grid and no martingale. SMA and Bollinger bands are sometimes used to determine the direction the market is taking. 

We have to caution you that the scalping approach at play is not effective. It requires a lot of patience because it accrues profits very slowly. Furthermore, one wrong move can render the gains made useless. 

The system also has the following features: 

  • Optional trailing stop.

  • Calculated/hard stop-loss and take-profit.

  • Spread control.

  • Regular/relative levels.

  • Manual/risk/auto volume.

Backtest data analysis

Backtest report for the GBPUSD symbol.

This backtest was conducted from 2015 to 2020. From these results, we see that the robot grew an initial deposit of $3,000 by $21,548.89. This was preceded by 351 trades. It is also important to note that win rates for these orders were good as the EA won 100% of the short positions and 99.41% of the long ones. Nonetheless, the equity maximum drawdown was disturbing —22.54%. 

Live trading data analysis

Trading results

Myfxbook Account

Real (USD), Weltrade

Started

February 25, 2021

Deposit

$1,000

Balance

$1,133.23

Gain

15.28%

Daily

0.07%

Monthly

2.05%

Drawdown

10.65%

Profitability

$135.38

 

Trading results for Absolute FX.

This real USD account is hosted by Weltrade brokerage and runs on the MT5 platform. At a glance, it is evident that the EA is struggling to produce profits. For the 7 months it has been active, it has only made $135.38 after being deposited at $1,000. Although the drawdown rate of 10.65% is low, it is 5 times higher than the monthly profit of 2.05%. This means that the system is taking more risks while trading and obtaining smaller rewards in the process. 

Trading performance.

The 51 trades executed within this period is proof that Absolute FX does not trade frequently. However, it has attained 100% win rates for both the long and short positions. The average win for pips made is 6.99 pips. No losses have been yet. 

Monthly profits from February to September 2021.

The monthly gains are painfully small. So far, March was the most productive month with only 3.13% profits. 

User reviews

Only one customer has provided his opinion about this EA. Even then, the review does not shed light on its performance. He is just hopeful that the system will live up to expectations and promises to update his testimonial once more trading results are availed. Well, he said this in April, and has since not come back to tell us how it is working for him. This is suspicious. The lack of more feedback since the launch of the product is also a big red flag. 

Client review.

Review summary

Pros

  • Fully automated

  • Live trading results are available

Cons

  • The strategy used is unprofitable

  • Inadequate feedback from customers

  • Vendor transparency is wanting

Obviously, Absolute FX is not for traders who desire to earn considerable profits within a short time period. It is easy for them to become frustrated by the rate at which this EA makes profits. No wonder few people have bought it. Furthermore, since the vendor fails to present us with his biography, we are forced to doubt its credibility. 


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