Easy Money X-Ray Robot Review

Feb 2, 2021 05:56 PM ET
Easy Money X-Ray Robot Review

Automation has taken over the Forex market and there are several companies offering Forex Expert Advisors (EAs) and robots these days. These systems conduct trades on your behalf, thus reducing manual labor and emotional decision making. Easy Money X-Ray Robot is one such system that promises to deliver 35-50% profits out of investments as small as $250.

Easy Money X-Ray presentation

This is a 100% automated Forex EA that claims to transform real money into huge returns within a short period of time without you requiring to possess any prior trading experience. But, of course, we need more than tall claims to assess the efficacy of the system. So, let’s look into the different aspects of this Forex robot.

Easy Money X-Ray Robot Review

Type

Fully-automated EA

Price

$347 to $597

Strategy

N/A

Compatible Platforms

MT4

Currency Pairs

Any

Timeframe

N/A

Recommended Min. Deposit

$250

Recommended Deposit

N/A

Leverage

N/A

Trading Strategy Explanation

Easy Money X-Ray Trading Strategy Explanation

Easy Money X-Ray Robot spots trading opportunities with the assistance of 4 different indicators used in combination. After setting up the system, you don’t need to perform manual adjustment for the settings as the trades are placed automatically. 

The profits are locked in through a dynamic management system that ensures consistency over time. It is entirely a plug-and-play robot where trades are found, executed, and managed automatically. You have the option of selecting the risk settings for your trades, and these influence the drawdown and volatility levels.

The company doesn’t provide any details about the technical aspects of the strategy, which is somewhat disappointing. Forex traders who are very particular about knowing the minute details of the trading strategy might take this as a red flag. That being said, Easy Money X-Ray Robot does provide full customer support and free lifetime updates for their clients. 

When you buy this software, you receive an instruction manual where the instructions for setting up the robot are lucidly outlined. Furthermore, the best recommendations are provided for you to utilize the system to its maximum capacity.

Backtest Data Analysis 

Backtest data is one of the most vital aspects of a successful Forex EA. By interpreting such data properly, Forex traders can make adjustments to their strategies and point out any theoretical or technical flaws. When a trading strategy shows favorable backtest results, it gives you the confidence to use it in a live trading scenario.

Unfortunately, Easy Money X-Ray Robot does not provide us with any backtest data. So, we have no way of analyzing how this Forex robot operates. Performance-based on historical data is something many traders look for and they will no doubt be disappointed. 

Live Trading Data Analysis

Trading Results

Myfxbook Account

Real (USD), FBS

Started

Oct 23, 2020

Deposit

$45,483.00

Balance

$15,098.33

Gain

225.96%

Daily

1.18%

Monthly

42.00%

Drawdown

26.83%

Profitability

0.64

 

Easy Money X-Ray Myfxbook

One of the plus points of this Forex EA is that it provides live trading results that are verified by Myfxbook. As you can see from the above figure, the trades have a net gain of 225.96%, which is quite impressive. What's more, the results seem to be getting better and better over time, which makes us think that this Forex EA is certainly capable of generating steady profits over the long-term.

The profitability for these trades is 64% and the drawdown is a low 26.83%; these are the figures that would satisfy most Forex traders. This trading system has a profit factor of 1.46, and we know that any system with a profit factor higher than 1 can be considered reliable. 

Pricing

Easy Money X-Ray Pricing

Easy Money X-Ray Robot offers two pricing plans at $347 and $597. While the first plan is a yearly one, the second one is a lifetime plan that doesn't require you to pay any additional amount. Both provide free updates, customer support, and a 30-day money-back guarantee.

Review Summary

Pros

  • 100% plug-and-play system

  • Live trading results provided 

  • 30-day money-back guarantee

Cons

  • Lack of technical details about the strategy

  • No backtest data provided

  • Vendor transparency is lacking

Conclusion

As per our assessment, Easy Money X-Ray Robot is not a total scam. It does provide some details about the strategy and the live trading results on Myfxbook look quite promising. But, that being said, the company should consider providing backtest data and shed some light upon the exact strategy it employs for placing the trades. All in all, our feelings are neutral about this trading system and while we think it shows some promise, there is definitely some room for improvement.

Rating: 6/10

  • Features: 6/10
  • Performance: 7/10
  • Pricing: 6/10
  • Feedback: 5/10
  • Customer support: 6/10

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