FXHT MultiCurrency EA Review

FXHT MultiCurrency EA is a Forex trading tool from Holland Trader. This is a completely automated system designed to work on multiple currency pairs that have high volatility. As per the vendor, the ATS works best for 4 FX pairs and mainly the EURUSD pair. We could not find info on the developer or the team behind the system. There is no location address, phone number, etc. For support, the vendor provides an online contact form. There are no other methods like live chat window, FAQ, etc. present for support.

FXHT MultiCurrency EA

Trading strategy explanation

As per the vendor, the system uses the intraday scalping method. It does not use high-risk methods like grid, Martingale, and hedging methods. The vendor states that this FX robot does not need optimization to generate high returns. 

Some of the key features of this FX robot that makes it competitive in the market are:

• It is compatible with all brokers.

• The FX EA is fully automated software for FX trading and works 24/5.

• The recommended minimum deposit for the system is $500 per pair.

• A minimum leverage of 1:30 is recommended .

• The minimum lot size you need to set for this FX robot is 0.01.

• It works on all currency pairs, especially the pairs with high volatility.

Backtest data analysis

A backtesting result is present for the FX robot on the Myfxbook site.  Here is a screenshot of the strategy tester report showing testing results from October 2021 to March 2022. 

From the above screenshots, we can see the FX robot had generated a total gain of 3.98 million from an initial deposit of $1000. A daily profit of 7.47% and a monthly profit of 768.33% were present. The drawdown for the account was 25.44%. A total of 2618 trades were executed with a profitability of 98% and a profit factor of 4.67. From the trading history, we can see the lot size used is 1000. While the high profits show good performance, the drawdown is a bit high. Traders will not feel comfortable with a drawdown higher than 20%. Further, the lot size is very high indicating a very high risk. We also found the sample to be too small to properly assess the system.

Demo trading data analysis

Trading Results

The screenshots of the demo USD account with the trading privileges verified by the Myfxbook site are shown here:

From the above images, we can see the system has generated a total profit of 93.19%. The daily and monthly profits are 0.67% and 34.77% respectively. The account that started in December 2021 has not traded since February 2022. 

From the growth curve, we can see the FX robot initially shows an upward trend but has slowed down towards the end of January and has shown a marginal increase in February. A total of 934 trades were executed with a profitability of 83% and a profit factor of 1.84%. The lot size used is 0.10 which indicates a risky approach. Comparing the backtesting with demo trading results, it is clear that both results show a risky approach that can endanger your capital.

Pricing

To use this FX EA, you need to pay $99 which is inclusive of tax but you need to pay for the shipping. The vendor does not offer info on the features you get with the system. We could not find a money-back guarantee which makes us suspect the reliability of the system. When compared to the market average we find the pricing is affordable.

User feedback

Unfortunately, we could not find user reviews for this FX robot on reputed third-party sites like Forexpeacearmy, Trustpilot, etc.

Review summary

Pros

• A fully automated trading tool

• Pricing is affordable

Cons

• Only demo results present

• No money-back guarantee

• Lack of vendor transparency

FXHT MultiCurrency EA has backtesting and demo trading results to prove its efficacy. However, our analysis of the system reveals a risky approach is used in the backtesting and demo trading stats. There are no verified real trading results which will help in a better evaluation of the system. The lack of a money-back assurance and absence of vendor transparency are other downsides we found in this FX robot.

Rating: 4/10