By Easy Money X-Ray is an FX robot promoted by the LeapFX group. Claimed to be favorable for beginner traders, this ATS promises a profit of 35% to 50%. The vendor assures the profit has the potential to be compounded and turn your investment into a passive income. No prior experience in trading is necessary for this EA as per the company.
There is no info provided for the company including founding year, location address, and phone contact. LeapFX is known for its automated trading systems, managed account services, and other products. Some of the EAs from this group include the Trade Explorer, The Fund Trader, and more. Our review of these systems reveals they are not impressive in their performance and features.
Easy Money X-Ray EA Review
Introduced as an FX Robot that has been rigorously tested by the LeapFX team, this EA is assured to make trading effortless. Important features mentioned by the vendor include dynamic money management, which helps to lock the profits ensuring consistent returns every month.
According to the vendor, the default settings are sufficient to give traders high returns and no changes are necessary. This FX EA claims to be a self-adjusting and intelligent system with the only input of the user is choosing the risk level. High, medium, safe, and very safe are the risk levels present that a trader can pick from.
Trading Strategies and Currency Pairs
There is very little info revealed about the features and trading approach that this EA uses. Instead, the vendor uses the home page to post verified results and highlights the profits made. From the minimal details the vendor provides, we find that this ATS uses a quad indicator approach.
The strategy involves a combination of four indicators all of which help to spot the trending opportunities in the market. We could not find backtests for this MT4 tool which is disappointing. Backtests are based on historical data and do not help to predict the future performance of the EA. However, they are useful methods to identify the approach used and its efficacy.
Easy Money X-Ray Trading Statistics
We could find several trading results verified by the myfxbook site which the vendor posts on the official site. Here are screenshots of one of the results showing a real USD account using the leverage of 1:1000 trading using the FBS broker and on the MT4 platform:
From the trading stats, the total profit for this account which started trading on January 13, 2021, and stopped trading on February 8, 2021, is 42.76%. The absolute gain value is 12.05%. We find the huge difference between the two values as a definite indicator of an ineffective strategy and poor performance. A drawdown value of 18.21% is present for this account which has deposits of $135,471.81 and a balance of $36.68. The withdrawals amount to $135,435.13, which equals the deposits.
A further glimpse into the advanced stats reveals a total of 5055 trades which is certainly a huge number considering the small sample size. The profit factor value is 1.45. The lot information and the trading history are hidden which raises a red flag. We can find several discrepancies in the account starting with the difference between the total and absolute gain percentage. All these downsides point to a high-risk trading approach and poor performance.
Pricing and Refund
The vendor offers a one-year membership subscription for $347 and a lifetime membership offer for $597. When you purchase the package, you get the FX robot software, automatically tweaked trade settings, customer support, best recommendations, and free updates for a lifetime. A 30-day money-back assurance is present for this EA. When compared to the price of competitor EAs, the rates of the annual and lifetime memberships are exorbitant. We feel that the EA is not worthwhile to spend such a huge amount on.
What Else You Should Know About Easy Money X-Ray
While we could not find feedback from users of this particular EA, we found reviews for the LeapFX company on the Forex Peace Army site. Here are a few of the responses:
From the testimonials, we can see that the performance and customer support are very bad. Most of the negative reviews indicate huge losses and complete wiping of their account.
Summary
Price – 5/10
Strategy – 4/10
Trading Results – 3/10
Vendor Transparency – 5/10
Customer Reviews – 4/10
Support – 5/10
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