Forex Robots

Foreximba Review: An Affordable But Risky Forex Robot

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Foreximba

Foreximba is a Forex expert advisor supported by verified real money trading accounts. It works on the AUD/USD and EUR/USD currency pair and the developer claims that it is capable of generating profits without increasing the risk.

Unfortunately, there is no information on the developers behind this Forex EA. We don’t know when the team was founded and since when it started building Forex robots. The vendor has not shared any contact information and we don’t know if the developer has manufactured other EAs in the past.

Foreximba strategies and tests

Foreximba lets you start with a small balance of $60. The vendor claims that this robot is simple to install and even beginners can work with it. It trades with a fixed lot size and does not use the martingale technique. The developer has not explained the trading strategy, so we don’t know how the robot identifies profitable trades.

There is a drawdown control feature for this robot, but the vendor has not clearly explained how it works. It is compatible with any broker and has two trading modes, namely high and medium, based on the risk level. The vendor has not shared a proper list of features for this EA, so we don’t have a clear idea regarding what it offers.

Backtesting results of AUD/USD

Backtesting results of AUD/USD

This backtest was conducted with 90% modeling quality from January 2013 to February 2015. The EA conducted a total of 869 trades, winning 77.68% of them and generating a total profit of $449955401.99. During the testing period, there were 15 maximum consecutive wins and 4 maximum consecutive losses.

The relative drawdown for this backtest was 86.57%, which is much higher than normal. Such a high drawdown percentage indicates a high-risk strategy. However, the profit factor was quite decent at 3.23.

Foreximba live trading account review

Growth chart of Foreximba

Growth chart of Foreximba

This live trading account on Myfxbook was launched on April 24, 2014. It is an account through which the EA has placed 910 trades with medium risk. It currently has a win rate of 72%. Compared to the backtest, the win rate is a bit low. Currently, the total profit generated through this account stands at $2602.74. Similar to the backtest, the live trading account has a high drawdown of 61.78%. It has daily and monthly gains of 0.04% and 1.08%, respectively.

Drawdown chart of Foreximba

Drawdown chart of Foreximba

Here we have the drawdown chart for the trading account. As you can see, the maximum drawdown has been steadily increasing ever since the robot started trading. The highest drawdown of 61.78% was reached on November 23, 2021.

Trading results of Foreximba

Trading results of Foreximba

That the robot follows a risky strategy is evident from the trading history. In the month of October 2021, the EA lost four consecutive trades which resulted in a total loss of 29%. Since then, the wins have not been that large, so the EA has not been able to recover the losses. Also, we can see that it increased the lot size from 0.20 to 0.37 for a couple of trades. This means the vendor’s claim of fixed lot size is a false one.

Pricing

You can purchase this Forex EA for the price of $194.99. The package contains a single lifetime license for a real account and three lifetime licenses for demo accounts. There is a 30-day money-back guarantee offered for this product and each user gets a detailed manual.

Is Foreximba robot a scam?

Foreximba is an EA that trades with a high level of risk and this leads to heavy losses every now and then. It is available at an affordable price but the vendor falsely claims that it trades with a fixed lot size.

We were unable to find any user reviews for this expert advisor on third-party websites like Trustpilot, Forexpeacearmy, Quora, and Myfxbook. Therefore, it is evident that not many traders are currently using this system for real-money trading.

Customer support

The only way to contact customer support is through the contact form on the website. There are no contact details available.

Foreximba

5

Foreximba is sold by a company we have no background information on. We are not sure what strategy it uses, but it is surely a risky one, as the EA has suffered heavy losses frequently. Compared to other EAs, it is quite affordable, but there are no reviews that tell us about the customer experience.

  • Verified trading results
  • Money-back guarantee
  • High drawdown
  • Lack of strategy insight
  • No customer reviews
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