FXDiverse Review

Jun 25, 2020 08:41 AM ET
FXDiverse Review

FXDiverse is a forex robot that labels itself as “super flexible”. It is one of the very few Expert Advisors on the market, with the ability to work with up to 28 currency pairs. According to the official website, users of this software do not require any high-level of knowledge nor any prior experience in the Forex market. 

The website seems pretty straight forward in nature and has a neat design. They provide us with a small explanation about how the EA works, as well as with trading statistics from one of their accounts. They’ve included a “contact us” in the webpage as well, but does not provide any other information on the developers behind the project. They even do not mention the 28 currency pairs anywhere on the main sales page, which seems a bit odd. 

FXDiverse is available in 2 packages. There is a yearly license that is priced at $235 while the lifetime license is valued at just $275. Considering the price difference between the two packages is just a mere $40, it seems practical to choose the unlimited package. 

FXDiverse

Type

Fully-automated EA

Price

$235 and $275

Strategy

Scalping

Compatible Platforms

-

Currency Pairs

EUR/USD+ several

Timeframe

Any

Recommended Min. Deposit

-

Recommended Deposit

-

Leverage

-

Trading Strategy Explanation

Despite searching, there is very little information or explanation provided by the EA regarding the trading strategy it uses. It allows its users to set the desired profit level that they want from a particular trading session. The system works most stable when balanced profit increases and the orders are closed faster. The EA also encourages users to choose multiple currency pairs as the chances of opening trades increase as well. 

This isn’t really a full explanation of the trading strategy and we would have to look to the trading results to learn more. 

Backtest Data Analysis

Back-tests are an ideal way to test the trading strategy of any EA. Potential buyers tend to look for back-test analytics to confirm that an EA indeed delivers what it claims on its sales page. Unfortunately, in FXDiverse’s case, they fail to provide any back-test for its users, making it difficult to evaluate the effectiveness of its strategy. 

Live Trading Data Analysis

In the current market, traders have to be very careful while choosing EAs, as the expert advisor market is filled with scams and fraudulent EAs which do not deliver what they promise. One of the best ways to confirm an EA’s claims is to look at live trading statistics. Here, FXDiverse provides us with a verified account, uploaded onto myfxbook. 

Trading Results

Myfxbook Account

Real(USD), FXOpen 

Started

February 12, 2015

Deposit

$10000

Balance

$146053.97

Gain

+1360.54%

Daily

0.14%

Monthly

4.21%

Drawdown

47.15%

Profitability

54-56%

 

FXDiverse Myfxbook

The account shows an impressive gain of 1360.54%. After looking at the way this count trades, it seems similar to many scalping systems where the EA enters and exits the market quickly. The drawdown rate is also high at 47.15% further pointing towards this being quite a risky strategy. 

Review Summary 

Pros

Cons

  • Multiple currency pairs to work with

  • No developer information provided

  • Verified trading results

  • No back-tests provided

 
  • Trading results are not satisfactory 

Conclusion

Based on the information provided by the EA on their website, and the verified trading accounts provided on myfxbook, this EA doesn’t really provide the level of transparency needed to make a decision. The high drawdown rate can deter many potential buyers from purchasing this product. Because of the presence of so many fraudulent EAs, buyers have become more aware and look for reliable developers when they choose Expert advisors. At $235, there are many alternatives available at the price with proven results. 

Rating: 5.5/10


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