Z Trader FX EA

At the first glance on the official website of Z Trader EA, it is clear that the team standing behind has no clue how to use WordPress themes properly or how to manage the website development for the product’s page because the website poorly put together having a lot of mistakes in texts and more. This, in some way, might show developers’ attitude towards the whole project including the communication with the customers and the efficiency of the robot, as you’ll see in this review.

The developer claims that Z Trader EA has been made as a result of 1 year of hard work. There are only one live trading statistics on FXBlue and one backtest available for this Forex robot to prove developers’ claims about the profitability and efficiency of their product. The total numbers on the account could look impressive but they actually need to be broken down.

There are 18,442 of profit has been made during the trading period of the robot but the fact is that these numbers are taken in RUB currency which means the actual EUR equivalent is only 205 euros. At the same time, the official max drawdown is just 6.1% which would be an amazing result if not for the fact that there is a floating loss of -40,666 on the account which is more than 60% floating drawdown. These numbers as well as the screenshot below are taken from the official FXBlue account of Z Trader EA.

The floating loss mentioned previously is actually the series of open orders that have never been closed and now they are in loss with more than 60% of the money on the account. The first order of this unprofitable series was opened on May 28, 2020, and now it has a 901 pips loss. The whole series consists of 11 orders opened during the last 11 months and cumulatively have - 40,635 RUB. The chart below shows the official numbers from the account.

Moving forward to analyzing the trading strategy of the EA we face the problem that there is almost no information about the trading methods or any clues to the strategy of the robot provided by the developer. The only things that claimed are that Z Trader EA does not use scalping or averaging as well as Martingale method while using fixed lot size for the trades. But looking at the official numbers and trading activity of the robot it is possible to make some assumptions. As we can see from the following screenshot the EA in some way close to using grids with the fixed lot size of 0.01 lot. 

Z Trader EA has made 116 trades in 11 months which is approximately 10.5 trades per month. This speaks up about the nature of the robot as not frequently trading EA. The longest trade duration is 3219 hours (135 days), and the average trade duration is in range from a few hours to 13-15 days.

Even though the EA has really good-looking live statistics there are many pitfalls that can be easily discovered if only we dive deeper into the analysis of the live performance of Z Trader EA. The biggest of them is the huge floating loss that’s been already open for 11 months with more than 60% of drawdown right now.

There is no information about who are the developers of the EA and what the exact trading strategy built into the robot that’s supposed to bring the customer profits. There is only a poorly developed website with the minimum information about the product and a lot of negative comments about the service and the quality of the system. 

But, at the same time, there are positive live trading statistics and backtest available for everyone. The developer also promises a 30-day money-back guarantee and quality support as well as lifetime updates for their customers.