Forex Robots

FX Oxygen Review: Uses a Grid Plus Martingale Combo

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FX Oxygen

FX Oxygen trading robot comes with one lifetime license and a 30-day money-back guarantee. It works 24 hours and has a detailed user manual that can be used to install and adjust the robot’s settings. The developer provides us with both backtesting and live records that we will analyze in our review to see if it can keep the drawdown low and remain profitable.

FX Oxygen strategies and tests

Traders can use the robot after following the steps:

  1. After you purchase the EAs and provide your account number the developer will send over the designated ex4 file
  2. Attach the system onto the charts to start trading
  3. Do not forget to enable auto trading

Strategy explanation

The developer does not detail the trading strategy used by the product. To analyze the methodology, we had to scan the live records available on Myfxbook. From there, we can see that it trades on EURUSD and USDJPY. There is an involvement of grid and martingale strategies where the lot size increases substantially after each loss. The average trade length stands at three days which conforms to a swing trading approach.

The history of the system

The history of the system

Features

The service has the following features:

  • It comes with free lifetime updates
  • There is a 30-day money-back guarantee
  • Up to 20% profit each month
  • There are backtesting and live records available

Backtesting

Backtesting results are available for USDJPY, where the relative drawdown was 30.51%. The winning rate was 48.42%, with a profit factor of about 1.4.

On the 30 minutes chart with a starting balance of $10000, the robot tanked an average profit of $366339.44. There were 1578 trades in total, with the best trade as $78749.89, while the worst one was -$37775.4. The modeling quality of the test was 90%.

The backtesting records

The backtesting records

FX Oxygen live trading account review

We will analyze the live records on Myfxbook. They are available from December 11, 2019, till the current date. The system made an average monthly gain of 0.28% during the period. Its peak drawdown was 34.81%.

The winning rate stood at 50%, with a profit factor of 1.05. The best trade was $6241.68, while the worst was $5843.28. There were a total of 503 trades. The total gain provided by the system stands at 10.72%.

With an initial deposit of $25000, the developer trades with a lot size of 236.76. The sharpe ratio of the robot is 0.02 with an expectancy of $5.33.

The live records

The live records

We can see rapid changes in the growth chart where the robot constantly incurs drawdowns. First, it achieved a total growth of 50% and then the curve went downward with a massive loss of 45%. From the drawdown chart, we can observe that it frequently goes into a downside of 10% and from September 29, 2021 and onwards it has a constant red value.

The drawdown value

The drawdown value

Pricing

Traders can purchase the robot for an asking price of $210 that gives the license for one live account. There is a 30-day money-back guarantee available. The asking price is a bit high if we compare it with the current market standards.

The pricing plan of the service

The pricing plan of the service

Is the FX Oxygen a good system to rely on?

The robot does not trade on a live account and currently was only able to provide a meager 10% gain in a period of three years. The current drawdown is also high, with a poor win rate and risk-reward ratio.

In addition, there are no customer reviews on Forex Peace Army that could guide us on the viewpoint of other traders.

FX Oxygen

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FX Oxygen does not trade on a live portfolio and is not transparent on the strategy. The developer also does not detail their whereabouts and trading experience. Due to the use of grid and martingale strategies that is evident from the records on Myfxbook we can say that it is a risky system. As the market trends in one direction, there is a possibility of a high drawdown.

  • Extensive backtesting records
  • No transparency of the developer
  • Poor risk-reward ratio
  • Live records are on a demo account

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