Fix Up EA Review: Is This New Expert Advisor Scam?

Fix Up EA Review: Is This New Expert Advisor Scam?

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Fix Up EA is rather a weird name for a Forex expert advisor. As a result, we had to do some investigative analysis to find out whether the robot was truly effective and high performance as claimed on the site. The developer says that Fix Up EA takes advantage of the breakdown patterns that occur in the Forex charts. It also monitors the current channels to see if trading opportunities will emerge. The software is on sale in the MQL5 market place. It comes with a number of set files for traders to test and optimize until they can find the right settings that work according to their investment goals.

We’d like to point out the fact that this developer is new in the MQL5 market place. In fact, they are totally new to the Forex market place as a whole as this is the first project that they ever launched. They are known as Alena Frolova, and are located in Russia. The Forex robot in question was first published in the month of August 2018 and the last update happened in September 2018. Currently, Fix Up EA is on version 1.3 of the Forex robot.

To keep in touch with the developer, we are advised to leave a comment in their MQL5 sales page or message them directly on their profile. This has been the norm of that Forex market place, and any trader who has ever purchased a trading software from MQL5 platform knows this.

Note: We trust these robots. They are highly recommended.

Fix Up EA Review

They tell us that this EA was built around the concept of  spectral analysis where the developer claims that they developed the trading system for 20 years. This is according to them, not us. The robot has an in-built system that calculates profits, stop loss as well as take profit levels. To answer the question of how this robot works to pick profitable trades, they tell us that it “is based on a steady breakdown pattern of the current channel.”

fx up ea

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If you read that statement even a third time, you will not get what the developer is saying concerning the working of this trading system. But we can assure you that this robot is optimized to work on the 30 minute time frame, and for all pairs. The developer also claims that Fx Up EA does not trade with grid or Martingale style. It is also not a scalper. That is an assurance that we have from this developer according to their word.

However, based on the explanation, we only know what Fix Up EA isn’t, but we really have no idea what the robot is. This can be a strange way to try appealing to buyers on the internet. You see, buyers looking for good Forex expert advisors need to know that the robot they are purchasing is capable of doing a good job. Usually this is done via a verified myfxbook account. But as you can see, this developer is assuming that we know what the software is, and so there is only need to know what the software isn’t.

The robot was developed with 12 parameters in its settings. There are settings for take profit, stop loss, trailing stops, lot size and risk levels. However, the developer misses the parameters that enable traders to adjust risk strategies. This can be a disadvantage because once you purchase the robot, you should use it the way it is because you have no chance of changing it according to your trading strategy.

Summary of the features contained in the Fix Up EA

The robot’s license costs $250. It trades pairs like EURUSD, EURGBP, AUDUSD, NZDUSD, USDCAD and USDCHF. Basically, the main pairs are taken care of. It trades on the 30 m time frame. However, it is unclear what type of strategy Fix Up EA is using. But the price is not fixed to a one time payment as it can be rented for $50 every month or $125 over the course of 3 months. In addition to this, the Fix Up EA also comes with a free demo which can be downloaded on the site and tested for free. This is a good thing because very few software developers don’t allow this kind of thing. They usually want to make quick bucks without giving traders the chance to test their software before making a decision to purchase it.

So our recommendation is that if you must really use this software, test it for several months first and probably go with the monthly renting plan before fully committing if you find that the results are pleasing. However, if you don’t want to go through the hustle of testing and optimizing until you find the right thing, our advise is that you should instead stick with these recommended robots for Forex trading.

Also, we want to remind you that since this robot is very new to this market place, it’s in your best interest to use caution because we don’t know its performance yet. We don’t know whether the owner is seriously up for the job or is intending to scam us.

Are there any trading results?

One thing we want to say is that the developer of this system is not providing us with live testing data but rather opting to publish very long back tests. These are disappointing because in this day and era, we are no longer in need of back tests. They can’t be so accurate or the results cannot be modeled into live trading. That’s why we generally prefer people to use myfxbook account for purposes of proving that their robots really work.

Therefore, it’s the job of this developer to prove that their robot works. They must put it to test. Otherwise, we can’t trust their intentions at all.

Our best advice for you

Fix Up EA is just an interesting robot because the developer doesn’t seem to care about presenting trustworthy results. Also, since it’s relatively new, you must use caution. Traders who don’t want to go through the hustle of optimizing should go with these ready made solutions. 

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