I was considering buying it because the stats look quite promising. However it makes me suspicious that they state on their web site that they never refund money if you're not satisfied. (see https://fxmaximal.com/term - 'In case of (ECN EA) or any outer expert advisor or any payment outer then this, all our sales are final. We do not refund the payments in any case.')
What's also strange is that they claim it to be a non-martingale EA - why do they hide the lot sizes here on MyFxBook?
I agree - hiding the lot sizes tells me it's a martingale or at the very least using position sizing to make up for losses. Which is not necessarily a problem but the fact they hide it tells me the vendor has something to hide and is not trustworthy.
The terms also make this seem like a signals service? Why do you need a 'subscription'? Why would they be sending orders to your account?
'You should provide the data necessary for our system to send orders to your account (Metatrader4 account number for each system).
That while you are subscribed you can change your Metatrader account number, from a demo account to a real account, by example.
Fxmaximal.com not going to cancel your subscription at the Payment Gateway. If the Payment Gateway charges you a receipt for us, after the trial period, Fxmaximal.com is not obligated to return back this amount. You are responsible for the status of your subscription and payments.'
They haven’t updated because the system sustained losses of around $20000 when the Euro gapped over the weekend. They had sell trades open just before close of trading Friday on EUR/GBP and EUR/AUD. To me this is not the system’s fault as the system up to now appears to be quite profitable, but the user’s fault. Common sense has to prevail, and at the end of the day, who is going to leave an automated system to open trades on pairs that are likely to be affected by gaps over the weekend.
Also the FX Blue xcel statement indicates lot sizing to be 4 standard lots across the board. The starting balance was $2000. Don't know about you guys but 4 standard lots on a 2K account is a bit rich.
I'm thinking the monthly returns are organically decreasing as a percentage of the overall account because the lot sizing is not increasing. While ever the lot sizing stays the same and the account continues to grow, the percentage return is naturally going to get less and less.
Definitely not martingale, and appears to use fractals to determine the exit if I'm reading the statement right. What I don't understand is the broker he's using, PaxForex. Not sure about their live accounts, but their demo spreads are terrible.
Not sure how long the website has been up for, but it appears it was only added to the Click2Sell marketplace on the 18/4. Dare say we may see this one removed as well after the weekend. He's still up 30k but it's a massive hit. I'm actually still really encouraged by the results I'm seeing, perhaps just with a bit of human intervention when required, and maybe some adjustments in the settings to the lot sizing. Looking at how profitable it has been, there really is no need to take those sorts of risks of leaving it trade over the weekend, especially that weekend and with those pairs??
I agree. If the EA delivers enough profit to pay for the EA in less than a month a refund offer would be no risk for the seller (who would cancel such a money making machine?). Denying the possibility of a refund indicates that more is promised than provided.
I am looking at reviewing it as a part of my website. I am just waiting on the developer to clarify a few things in terms of lot size adjustment and demo account changes as I want to test it on a few different brokers first before going live. If I proceed I will post the links to the account here.