Challenges and Prop Trading are now becoming more and more popular. A new XT Prop Firms MT5 Expert Advisor has appeared on the MQL5 market website, with which you can try to win the competition of investment brokers. Now let’s review EA XT Prop Firms and you can decide on the effectiveness of this Forex tool for automated trading.
XT Prop Firms MT5 - profitability in the strategy tester
The first and probably logical step is to see the profitability of the trading robot in the MT4/MT5 strategy tester. If all the sellers of the MQL5 market were honest and did not adjust the trading results of the Expert Advisors to the MetaTrader tester, perhaps the buyer would receive a true picture. However, in most cases, the tester shows false results. And in the case of XT Prop Firms MT5, we see good profitability with minimal trading drawdown. However, most likely this profitability does not correspond to the actual results of the adviser.
Our independent test of the XT Prop Firms MT5 EA
Why XT Prop Firms MT5 tester results are false? Because we do not see real results on a real account. Virtual trading is not confirmed by XT Prop Firms MyFxbook monitoring, which means it is highly questionable.
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EA XT Prop Firms MT4/MT5 - real profitability
As for the real results of EA XT Prop Firms, they are absent. This is bad because it raises a big question. Why the author of the adviser does not use it personally. If the Forex Expert Advisor is profitable, then the author usually does his monitoring on MyFxbook or MQL5 system and shows the buyers – here are my true results… However, in this case, the author does not consider it necessary to show them and this only says one thing. The real results of XT Prop Firms MT4/MT5 do not correspond to the results that you can see in the strategy tester of the Metatrader platform.
Description of XT Prop Firms EA Strategy
The XT Prop Firms EA MT5 has been specifically designed to cater to the requirements of Prop Trading Firms, ensuring compliance with all relevant company regulations. Additionally, it offers the flexibility to be utilized with any Broker by making a few simple parameter adjustments. This multicurrency version of XT Prop Firms EA supports major currency pairs such as EURUSD, GBPUSD, USDJPY, and USDCAD. It provides a choice of three risk levels: Low, Medium, and High. XT Prop Firms EA is available in both MetaTrader 4 and MetaTrader 5 versions, compatible with various Prop Trading Firms and brokers.
Trading operations of this Expert Advisor are based on the strategy of trading on the market trend. As you can see, the author added 4 trending currency pairs to the trading portfolio – EURUSD, GBPUSD, USDJPY, USDCAD.
The EA does not use Stop Loss and does not use martingale. However, this strategy uses very small averaging steps and if the market moves in the wrong direction, you will get very big losses!
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Also, there is another huge disadvantage that will not allow you to use this Expert Advisor effectively – it’s too small Take Profit size, which is only 5 cents. This type of trading is called pipsing. Such trading is not prohibited on the Prop Firms platforms, however, you will technically not be able to get good results because the spread size on GBPUSD USDCAD EURUSD and USDJPY is equal to or greater than the specified take profit size. So, XT Prop Firms EA MT5 is a SCAM. That is why the author of the adviser does not monitor MyFxbook and does not show a signal on the MQL5 market.
Our opinion on XT Prop Firms forex robot
So, we are dealing with another scam product. XT Prop Firms EA MT5 SCAM and here’s why:
- This trading robot uses pipsing technology, namely a very small target in profit points – only 5 cents. This technology does not work on a real account. And the results in the strategy tester show good profitability only because the strategy tester does not take into account slippage and market fluctuations in the spread.
- The author of XT Prop Firms EA MT5 has not published a monitoring (signal) and does not show a MyFxbook profile with real trading results (on a real account). This is one of the signs that the seller is deceiving his buyers.
Do not buy XT Prop Firms EA because you will waste your money and your time!