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Z Trader FX EA Review: Is It the Biggest Forex Scam?

Z Trader FX EA Review: Is It the Biggest Forex Scam?

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Z Trader FX EA is a Forex robot whose developer claims was built for convenience. According to the developer, this software was worked on for an entire year and now we can enjoy the fruits of their hard labor. On top of that, we are surprised that this developer who has worked on an expert advisor for a year does not even reveal who they are and where they are based at. Furthermore, the person who put together this website doesn’t seem to have a creative eye as the site is not aesthetically pleasing. They could have spent a few dollars to hire a developer who would do a great job on the site, and customers would simply come in in numbers. But this is not the case or at least we think so.

This poor workmanship should never find its way into the algorithm of this robot because if it does, we will be having a very bad robot to use for trading. And also first impression matters. If these guys has utilized the skill of a web developer, then we wouldn’t be talking of these things. We would be discussing what the robot can do and perhaps the results that it has achieved so far.

Having said this, let’s dive into the things that matter. But first, if you’re in need of a good Forex robot that you can rely on for a long term, this list of expert advisors should serve your needs well.

Z Trader FX EA Review

According to the developer, they are sure that this software will become one of our favorites in the market if we end up ordering a license. We also realize that the word software is spelled wrongly but we will choose not to be picky and instead concentrate on what matters.

Z Trader FX EA

This is shameful on the part of the development team, and hopefully they will change a few things about their site. In their marketing materials, the team are highlighting 3 important aspects of the software and one of them is money management.

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The second aspect which they are putting emphasis on is the frequent updates which will keep the software up to date. These updates are provided at no extra charge. This is the standard among most expert advisor developers and should not be seen as something extraordinary.

Finally, the developer tells us that this system will work fine with both live and demo account and with a small deposit of $100 only.

You should generally not under-fund your trading account because it will not allow you to take big trades that can return substantial profits in a short time. We encourage funding your trading account with an appropriate account.

So they feel that these 3 aspects set this robot apart from what is available in the market right now. This is something we cannot agree with because these elements are found in literally every robot that we come across on the internet. It is not like this developer is introducing a new thing. But probably they just wanted to fill up the page with information so as to avoid having a blank page.

Z Trader FX EA trading strategy

These people don’t even tell us the strategy that their software is using. They only tell us that it is neither a scalper or a Martingale trading system. This is quite vague and we generally prefer that a developer should provide as much information as possible about their trading apps before they can even think of selling a copy.

This type of poor explanation is very common by the way. We have seen it among many developers out there and we are always taking note whenever we come across shallow pages like this one.

On top of this, we don’t know what time frame this software is relying on to open trades. Therefore, no strategy or time frames were revealed. The cost of the software is $117, which is on the cheap end of the market. Will you make money from a software that costs $117 only?

The only thing they tell us is that the software trades one pair only and that is the EURUSD. As a trader, paying $117 will get you 2 real and 2 demo accounts. For $137, we get 3 real accounts and 3 demos. These plans come with free updates but what makes it very suspicious is that there is no list of past updates.That means we cannot verify if any updates were done in the past.

Past performance

Now, the good thing is that they have provided their myfxbook performance. So while they cared less about the aesthetic value of their website, they cared most about demonstrating their past performance. This myfxbook account was created in 27th August and is showing a gain of 394% respectively.

The system has placed up to 70 trades so far and the draw down in the last 4 months is 35%.

This means that the software is not a scalper. The win rate is also impressive as it is at 94%.

Generally, these results are impressive but the vendor should work on how they are going to present this product in a professional manner. Many traders are waiting to see whether they will go an extra mile to tell us what we want to see.

Among the things we want to see include their trading approach and professional presentation on their site. If these things are coupled with trading results like the ones we have seen above, the software can start selling like hotcake.

Therefore, from here onward, our plan is to watch this trading account to see whether the impressive gains will be sustained in the long run. If they sustain these results, then it will be a good thing and possibly we will consider changing this review.

Our best advice for you

At the moment, Z Trader FX EA does not look promising but just like we said, we need to monitor their myfxbook account for a little longer to see what ultimately happens. While we do that, sign up with these ones.

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One Reply to “Z Trader FX EA Review: Is It the Biggest Forex Scam?”

  1. I’ve bought this product and put in on a demo account. After one month it had produced several open positions going on adding SWAP commissions every day and of course also growing themselves so the total DD of this positions after six weeks is EUR -3’674. See my domo account MT-Fr account No. 31010216 – Investor Pa**w***: ZT2020. Total Return by now is EUR 1’177.24 – unchanged since several days. Over EUR 200 of this amount consist on a trade closed manually due to the fact that the EA took the first trade with 4 Lot instead of 0.4 as intended. In order to get 0.4 Lot I needed to put in 0.04 in the settings (field name: M_Man). The “funny” thing about it is that on the FX Blue account of the vendor you can also find few large negative open orders/positions with gigantic accumulated SWAP commissions reaching back to Jun 2019. When I asked the provider to explain this positions he answered that this was due to a VPS breakdown and that he expected that these positions are going to closed or recover soon (“the will be worked out soon” his English is something hard to understand). When I asked for refund after one month e refused it claiming that since I had not applied the EA to a real account right away (how I think any reasonable trader would do), I had not lost one cent. I proposed to go on testing two other months if the refund option would remain intact until the end of this period – he refused as well. So if you want to risk that open positions eat all your earning ending up with margin call – go on and buy this product. Otherwise run away!
    Here a are some quotations of the vendor from our fruitless communication:
    “My EA work 527 day on real account and made more 1000% profit. What nonsense are you writing?”
    „I do not recommend the same settings for all brokers. They are individual for each broker.“ (this is true but appl*** only tot he GMT-setting which I put correctly to „2“ – GoMarkets Demo Account)
    “Settings are individual for each broker. all settings are the same for all brokers except one. GreenwichTime_GMT = individual setting of your broker” (contradictions in two sentences)
    „I do not send gifts or give in to threats. I do not guarantee profit every month. This is a market and no one will guarantee you profit every month.
    If you received DD on your invoice, this does not mean that you have the right to demand the product for free.“
    Refund Policy
    Our refund policy is “30 days money back guarantee”. Z-Trader FX EA Meta trader 4 license, can not be withdrawn or blocked on request.
    If you paid for 2 (Meta trader 4) accounts. You can not use more than 2 (Meta trader 4) accounts. If you are not satisfied, please describe your good reason and we will return money back.
    Possible good reasons:
    · Using our recommended settings the advisor has lost all your money.
    · The advisor’s errors do not let you use the EA and we can’t solve this problem over seven days.
    · There was a mistake when buying – you wanted to purchase another our advisor.
    · The EA was not sent to you during three days.
    ( so having a DD of more than 300% of the returns is not considered to be a good reason).

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