Forex ZEON- X Pro review

Jun 21, 2020 12:14 PM ET
Forex ZEON- X Pro review

Forex ZEON X Pro is a comparatively new automated trading system and expert advisor which promises outstanding returns as indicated on its website. It is compatible with MetaTrader 4. The Expert Advisor does not provide much information when it comes to the developers behind it. This practice, although discouraging is quite common among many EAs, even though potential customers want a certain degree of transparency before they purchase a particular product. 

Upon examining its website, we find that it has a very basic design and consists of numerous trading results and FAQ page, along with an attempted explanation about its features. However, on further examination, it is evident that most of this information is mere fluff which does not provide educated traders any critical information about the EA. 

The product is available in three packages with one-time payments. The starter package comes with a single real account and is priced at $199. The professional package provides two real accounts and is priced at $299. Lastly, the ultimate package is priced at $499 and comes with 4 real accounts. All these packages come with lifetime support and a 60-day money-back guarantee scheme. 

Forex Zeon-X Pro

Type

Fully-automated EA

Price

Starter: $199
Professional: $299

Ultimate: $499

Strategy

High-Frequency Trading

Compatible Platforms

MT4

Currency Pairs

USD/JPY, GBP/USD, USD/CAD, GBP/JPY, GBP/AUD,
GBP/CAD, EUR/USD, EUR/AUD, EUR/JPY

Timeframe

Undisclosed

Recommended Min. Deposit

-

Recommended Deposit

-

Leverage

from 1:100

 

Trading Strategy Explanation

Despite the large volume of information provided on Forex Zeon- X pro’s website, it fails to provide a much-needed insight into how the EA actually works. This can be considered a red flag as most potential buyers look for a thorough explanation of the trading strategy being used by a particular EA. The website does mention a few different features but provides little to no information about the underlying trading approach being used. 

From the information gathered from the trading results, we can safely conclude that this robot is using a variant of a high-frequency trading and scalping strategy, based on the duration of the trades placed which usually lasts between 1 to 4 seconds. Even though many traders prefer scalping as a strategy, it has proved to be disastrous for many EA users in the past who have lost their entire trading account. 

Backtest Data Analysis

In spite of providing trading statistics related to real accounts, Forex Zeon-X Pro does not provide us with any back-testing results. Back-testing is a crucial exercise based on historical data, that can be performed on EAs to check whether it can deliver the claims it has made on its sales page. In this case, however, it is missing. 

Live Trading Data Analysis

One of the hallmarks for expert advisors to prove that their systems indeed work is to provide reliable trading statistics from one of their accounts. For these tests to be considered reliable, they have to be hosted on authoritative sites such as myfxbook or fxblue. In Forex Zeon-X Pro’s case, they have provided us with 5 separate live account statistics. 

For the purpose of this review, we will take the 1st account they have provided. 

Trading Results

Myfxbook Account

Real (USD), NDDFX Technology

Started

January 23rd, 2020

Deposit

$110472

Balance

$6825.81

Gain

537.22%

Daily

1.28%

Monthly

91.36%

Drawdown

31.04%

Profitability

72%

 

Forex ZEON- X Pro Myfxbook

According to the above screenshot, this account has gained an impressive 537.22 %. While most of the trading statistics here are satisfactory, the high drawdown rate confirms the earlier fears about the risky approach associated with scalping. 

Review Summary

Pros

Cons

  • Multiple Currency Pairs
  • Back-test not provided
  • Money-back guarantee
  • Developer information not provided
 
  • High drawdown rate

 

Conclusion

Since Forex Zeon Pro EA is relatively new in the market and the account statistics aren’t really convincing, it will take further evaluations before this EA can be recommended to the trading community. 

 

Rating: 6.5/10


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