The AX Trader EA is an automated forex trading system that runs as an expert advisor in the industry standard MetaTrader 4 (MT4) platforms which you can download from the majority of forex brokers if you don’t already have it installed. The AX Trader robot can scan currency pair charts for trading signals then place and manage trades on behalf of the user. It can also send forex signals via SMS or email notifications if you would prefer to validate each signal before placing a manual trade. In this AX Trader Review, we will take a look at the forex strategy it uses, the key features and results.
- Fully automated forex robot
- Can trade on multiple currency pairs
- Customisable settings
- News protection
- No backtests
- Myfxbook account was deleted
- MetaTrader 4 only
This automatic trading software has been programmed and optimised by the LeapFX team who have a range of commercially available forex robots that you can purchase including DynaScalp, Trade Explorer, Bounce Trader, Jet Trader Pro, The Fund Trader, Automic Trader, InstantEA, Funnel Trader 2.0, Arbitron, Easy Money X-Ray Robot, The Skilled Trader, News Action Trader and Econ Power Trader. They have years of experience when it comes to automated trading systems such as this one. With that being said, lets take a closer look at the AX Trader expert advisor to get an idea of how it works.
AX Trader is a high frequency forex robot that is coded based on a unique hybrid strategy that utilizes Fibonacci price levels and the market trend to place trades on 6 major currency pairs which are the following: EUR/USD, GBP/USD, AUD/USD, USD/CAD, USD/JPY and USD/CHF. One of the things we like about forex expert advisors that trade on major currency pairs is that they can have plenty of liquidity which often means lower spreads and rapid execution speeds.
AX Trader is engineered to try and determine the direction of the overall trend while dynamically adjusting the entry points by utilizing up to date data from complex Fibonacci calculations. It can dynamically manage every trade and close each position for you whilst attempting to lock in winning trades as way of maximising the potential of each move in the forex market.
Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur. They stem from Fibonacci’s sequence, a mathematical formula that originated in the 13th century.
Each level is associated with a percentage. The percentage is how much of a prior move the price has retraced. The Fibonacci retracement levels are 23.6%, 38.2%, 61.8%, and 78.6%. While not officially a Fibonacci ratio, 50% is also used.
The indicator is useful because it can be drawn between any two significant price points, such as a high and a low. The indicator will then create the levels between those two points.
The developers claim that the AX Trader strategy is not dependent on specific trading conditions. This would give it the required flexibility to be used by traders under varying conditions, including using different brokers with different spreads, price feeds, account types and execution speeds. We would always prefer to use a regulated forex broker with tight spreads, low fees and plenty of liquidity for reliable trade execution speeds.
Now we have covered the strategy the algorithm is using, lets take a close look at some of the key features of this robot.
The AX Trader software trades automatically, opening and closing trades without any monitoring or intervention needed. That being said, we would always check to see how things are progressing and make sure that we are understand the risks involved with any manual or automated trading system.
It is known that forex news releases can cause high market volatility which can lead to unstable trading conditions such as larger spreads than usual, more slippage and spikes in price action. For these reasons amongst others, many forex traders would follow an economic calendar to make sure they avoid trading before, during and after important news releases. However, users won’t need to manually turn this forex software off as it has built-in news detection technology.
The AX Trader EA has fully customisable money management features. You can modify all of the most important aspects of money management such as the stop loss, take profit and position size that you would like the robot to trade.
The software is relatively easy to setup in the MT4 platform, even if you don’t have any prior experience with forex robots. It’s completely beginner-friendly with a clear step by step guide and developer explanations to help you along the way. Friendly customer support is also on hand to assist if required.
When choosing a trading robot, one of the most important things to do is to check the latest results and see how it has been performing historically. Whilst this is no guarantee of future performance, it can help to give us a rough idea of the trading system being used.
AX Trader Myfxbook
The LeapFX robot development team have published and shared a real trading account that has been running the AX Trader EA for a sustained period of time. You can see the most recent AX Trader results in the graph below and click it to view more detailed statistical information. Always keep in mind that these results are based on historical data and by no means any guarantee of future results.
Update 15/08/2022: The Myfxbook account has been deleted, which is often an indication that an EA could have crashed. Please see our trading robot ratings for an alternative option.
AX Trader Backtesting
Disappointingly, we haven’t been provided with any AX Trader backtests to get an idea of how it would have performed long term over historical data on different currency pairs and chart timeframes throughout varying forex market conditions. That being said, many some forex traders may argue that the Myfxbook verified results are sufficient.
The AX Trader EA is an innovative automatic trading system that combines trading in direction of the overall trend with Fibonacci levels into one unique forex robot. The software is versatile across multiple currency pairs and includes optimised settings. Users can also adjust settings to their own trading style. The robot has a verified Myfxbook account where we can keep up to date with the latest results and it also comes with a money back guarantee. As with all forex robots, we would first start trading on a demo account to see how it works and whether it is something we would feel confident putting onto a real live trading account.
The AX Trader EA uses an automated forex system that combines trend trading with Fibonacci levels. This is a unique and versatile forex robot for the MT4 platform that has a verified Myfxbook account for users to track its latest results.
What is the AX Trader price?
There are 2 payment options. You can purchase a 1-year license for $297 where the software will turn off after 1 year of use, if not renewed. Or you can purchase a lifetime license for $497 and it will never turn off ever. Both options include full support, free updates and a 30-day money back guarantee.
Where can I download the AX Trader?
You can download the AX Trader from the official website here. When you purchase, you will get an email with details for instant access to the members area which includes the software, activation, manuals, settings and more.
What kind of customer support does AX Trader offer?
LeapFX provide email support to answer any questions that you may have about the software.
What are the best brokers to use with the AX Trader?
As with most forex robots, you can use any MT4 broker to run the expert advisor.
What’s the minimum amount required to trade with the AX Trader?
There isn’t any specific minimum amount required to start using this trading robot. However, you should only use what you feel comfortable with and can afford to lose due to the risks involved with trading online.
What is the AX Trader refund policy?
If you are not satisfied with the software for any reason at all, simply ask for your money back before the 30 days refund period is up and LeapFX will grant you a full refund.
Is the AX Trader a scam?
We do not believe that AX Trader is a scam and it does have a verified Myfxbook account to back up the claims made by the developer. However, that does not mean it will produce good results in the future. No matter how good any forex trading robot is, none of them can predict the future with certainty.
Can I get the AX Trader for free?
You probably could spend countless hours looking for a free version of the AX Trader being shared but it is likely to be out of date, unsupported and potentially dangerous.
What currency pairs does the AX Trader trade?
This trading software has been designed to trade on the EUR/USD, GBP/USD, AUD/USD, USD/CAD, USD/JPY and USD/CHF pairs via the MT4 platform.
What are the best AX Trader settings?
The best settings for the AX Trader EA should be those provided by the developer, aside from the position size which you should adjust to a level that you feel happy with as everyone has a different risk preference.
Can I change the AX Trader settings?
Of course, if you have the knowledge and experience with the MT4 strategy tester, you are free to experiment with your own settings as all inputs are externally available from the EA settings. You may wish to test your settings on a demo account to begin with to see how things go.
What do I need to run the AX Trader?
You will need the MetaTrader 4 desktop platform and an account with a forex broker. Most forex brokers will let you open a free demo account, a real account with a small deposit and provide the MT4 platform free of charge.
How much money can I make with the AX Trader?
There are absolutely no guarantees on how good or bad any trading robot will perform. Due to the unpredictable nature of the markets, nobody can predict what will happen in the future. You should make sure that you understand all of the risks involved using any forex expert advisor such as the AX Trader EA.
Results are based on historical data. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. There is no guarantee of future performance. You should understand the risks involved with trading. Your capital is at risk.