Forex Robots

Z Trader FX EA Review: A Scam EA with Poor Performance and Ineffective Strategy

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Z Trader FX EA

Z Trader FX EA is an MT4 tool that promises impressive results. The developer claims that this automated software helps in boosting profits. This system is a combination of convenient, easy, profitable, and no time-demanding features as per the developer. We could not find info on the developer or the team behind the software creation. The official website does not provide details about location or phone contact. An online contact form is the only means of customer support offered. The lack of vendor transparency and inadequate support details make us doubt the dependability of the EA.

Z Trader FX EA Strategies and Tests

Features of the expert advisor

There is no info on the trading approach used by this EA. There is the mention of the software not using scalping, Martingale, or averaging methods but the actual strategy is not explained. This lack of info is disappointing and does not make the system look reliable. Features of the expert advisor include full automation, easy installation, a single payment, and MetaTrader 4 compatible system. As per the developer info, the minimum deposit needed for the account is $100 to $200. The lot sizes are fixed for this FX robot.

Strategy tester report

The developer provides a backtesting result for the EURUSD pair using the 15-minutes timeframe. The test done from 2016 to 2018 reveals a total net profit of $2016982.59 for an initial deposit of $99. A total of 326 trades have been executed with a profit factor value of 638.10 and profitability of 96.63%. The modeling quality used is 90% which is inadequate to know info such as the slippage, commission, etc. A maximum drawdown of 16% is present for this account.

Z Trader FX EA Live Trading Account Review

A live real RUB account is provided by the developer. The trading stats of the account verified by the FXBlue site are shown here.

Backtesting report

From the above statement, we can see the account has suffered a loss of 22,288.14 with a balance of 9.52 and equity of the same value. The total returns for the account stand at -203.8% with a peak drawdown of -248.0%. A risk to reward ratio is -15.53. This account has a trading history of 222 days with a profit factor of 0.27.

We can see that the EA is not performing well. The huge loss and low profit factor value indicate the approach used is not effective and risky. Comparing the backtesting report which shows an abnormally high profit factor, with the real account results we can see that this FX EA is not a reliable system.

Pricing

Z Trader FX EA Pricing

Z Trader FX EA Pricing

The vendor provides two main packages with the price of the first being $117 and the second package costing $137. Two real and two demo accounts are present for the first package while the second one comes with three each of the real and demo accounts. Both packages offer free lifetime updates and support.

When compared to the average price of similar expert advisors in the market, the price of this FX EA appears to be affordable. There is no money-back guarantee which raises doubts about the reliability of the software.

Is Z Trader FX EA robot a scam?

From our evaluation of this FX robot, we find this is a scam EA due to the following criteria:

  • Unrealistic claims: From the backtesting results and real trading results we can see that the EA does not use an effective strategy. The huge loss of the real account and the unrealistic profits in the backtests indicate this ATS is not a trusted system.
  • Lack of transparency:  The lack of info about the developer, contact details, and the strategy used reveal that transparency is absent.
  • Negative user reviews: We found 6 reviews for this EA on the Forexpeacearmy site. Here are the screenshots.

User reviews

User reviews

From the feedback, we can see that the system has resulted in a huge loss for the customer. Another reviewer indicates the performance and support are poor.

Z Trader FX EA

5

Z Trader FX EA is an MT4 compatible trading tool that promises high profitability. Our analysis of the features, trading approach, performance, support, and other aspects of the system reveals that it is an unreliable EA. The poor performance in real account trading and lack of vendor transparency concerning the company and the approach used are main drawbacks we identified in this EA. Further, the negative reviews and lack of refund guarantee confirm our doubts that this is not a trustworthy FX robot.

  • Fully automated system
  • Affordable price
  • The strategy used is not disclosed
  • Poor performance in the real account trading
  • Lack of vendor transparency

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