In this review, we will discuss 4X Lion, an expert advisor whose developer claims to be an IT specialist who has conducted several ‘successful back and forward-tests’ on the robot which they are now selling for the price of $199.
Apparently, customers can also negotiate the price of this robot during the buying process, although the developer does not encourage this because they claim that you could be losing money while you negotiate.
The website of 4X Lion claims that the expert advisor was developed by people who are full time professional traders with masters in computer science and skills that can only match those of traders at Wall Street.
The developer also claims that 4X Lion was created as a result of thousands of hours poured into analyzing the markets and conducting forward and back tests simultaneously.
4X Lion expert advisor is only supposed to open trades when its ‘special algorithm’ generate signals based on interrelated indicators.
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Finally, the developer introduces themselves by first stating that their company was started in 2006 with the intention to provide customized IT solutions.
The company has developed a number of expert advisors since then under the label of My4xStore project. These include MyFX Lion, 4X Super Seller, GBPScalper, Safe Droid and many more.
Their physical address is published as Infogame 24 Ltd.
Studio 5, 162-164 Abbey Street, London. But the focus of this review is on 4X Lion expert advisor which this developer claims will be the next big thing in the next few years.
So, according to these claims, can we trust that 4X Lion EA is the best expert advisor that money can buy for $199? We doubt this fact. Let us explain why.
First of all, why do they call it 4X Lion? The vendor says that this robot exhibits bestial behavior. It likens trade setups with a prey in the jungle. When it spots a prey (nice trade setup), it acts immediately without hesitation and that it never misses the chance to add profits into the user’s bank account.
Actually, the developer boasts that this robot will always deliver 760% annual return on investment when used consistently for over a year. And while it does its work, it does not put your account under serious threat of blowing up the entire balance.
In addition to this, they claim that this robot is the only expert advisor in the market that will make you wealthy.
In the next section of the sales page, we have a couple of back-tested results for this robot. This testing apparently started back in 2012, and in all those tests, 4X Lion was able to produce over 560% return on investment in a trading account worth $500. We will be getting into this shortly.
For now, let’s concentrate on the alleged features of the 4X Lion robot.
This robot is designed to work best with EURUSD pair, and that it only trades the M30 time frame. It does not require any special spread settings in an MT4 account.
The developer also claims that 4X Lion has managed to generate steady profits on various accounts without suffering draw down above 18%.
These promises sound good to the ear. In fact, this is what all traders want to hear before getting a Forex expert advisor for their use.
The problem is that the so-called trading accounts where 4X Lion was tested at have not been revealed in this sales page.
Usually, when a developer says that they have tested their robot on various accounts, they always accompany those claims with proof that indeed their product was tested on the said accounts and profits were made.
In this case, we only have back-tested results. This raises questions because we know very well that back-tested results cannot be modeled to produce profits afterwards.
The developer mentions on their sales page that 4X Lion expert advisor was back-tested and forward tested as well. Now, besides the fact that back-tests were provided, no forward test results were provided for this robot.
They only served us with screenshots of back-tested results for the period starting January 2013 to October 2013 where the robot is said to have gained over 760% profit.
Of course these results sound too good to be true. They are very typical of what scam developers usually promise users.
Remember that back-tested results cannot be molded to reflect what would happen if this robot was put to task today in a live account. They would have done a good job if they worked with forward-tested results.
Apart from this, there is a section of the website where they claim to have published their live trading results. Now, the question is, why didn’t they use myfxbook to track and verify the performance of 4X Lion expert advisor?
You see, they just published their trading statement from Apari Forex broker. And the worst mistake here is that they claim that these are live trading statements when the fact of the matter is that this trading statement is dated March 2017. For heaven sake, it is not a live trading statement as evidently confirmed by the date.
The developer of 4X Lion expert advisor does not mention the trading strategy for this robot. All they did was to craft a sales page that tells users how good this robot is because it generates over 760% return on investment in just a couple of months.
They never bothered explaining what strategies this robot was designed to use.
Of course it is started that this robot trades on the 30 minute time frame and that it uses a number of indicators which have to agree for this robot to take action.
However, this is not a valid explanation of how an expert advisor works. Therefore, we can comfortably say that this robot does not have a working strategy because nowhere in that website was this issue addressed. Technical indicators are just tools as opposed to trading strategy.
This is the final nail on the coffin. You see, this developer boasts with cherry-picked trading statements which they claim are live when those records are outdated. Yet when you read the earning disclaimer at the footer of the sales page, you will understand that this developer is only providing hypothetical results. These hypothetical results must not be taken as actual trading results (according to the developer).
In other words, the back-tested results plus the trading statements which they falsely claim to be live results were published for the ultimate purpose of misleading traders.
The developer is actually admitting that their system is flawed and not able to generate profits if purchased and synced with a live account at the moment.
This is the most unethical statement we have ever come across on a vendor’s website. We expected them to prove their claims with evidence of this robot performing well. But instead, they only relied on hypothetical performance to promote a flawed trading system. This is unacceptable.
We do not see any reason why a trader should use 4X Lion expert advisor. The developer did not answer some critical questions concerning this product. Therefore, the safest bet is to find your ideal trading system in this list.
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