Category ArchiveForex

FxDiverse Expert Advisor Review

FxDiverse Expert Advisor Review

FxDiverse forex robot has been a popular name among expert advisors. Today, we are going to review the robot to find out how effective it actually is.

The developers of FxDiverse boast of a super flexible expert advisor that brings a new approach to forex trading. The vendors claim that the trading EA is the perfect companion for novice traders who lack the knowledge and experience of trading in the forex markets. While the website appears to be professional, it does not seem to provide all the required information about the EA. To begin with, there is no mention of the developers of the product, reflecting a deficiency of transparency from their end.

FxDiverse Pricing & Conditions

The FxDiverse forex expert advisor can be purchased by traders in two different license options:

  • FxDiverse – A 1-year license priced at $235.
  • FxDiverse Unlimited – A lifetime license priced at $275.

FxDiverse Pricing & Conditions

Traders will get the same performance with both the licenses and will receive free updates too. The developers also offer a 30-day money-back guarantee. However, this is practiced by many developers to persuade customers and does not serve as a guarantee of the EA’s performance.

General Features of FxDiverse

The developers claim that the FxDiverse expert advisor is suitable for both experienced as well as novice traders. Traders have the flexibility to use any MetaTrader4 broker and trade using 3-28 currency pairs, but the exact currency pairs haven’t been disclosed on the website. However, one can find the currency pairs available on the verified Myfxbook account of the EA. The developer further fails to provide any recommended deposit or the recommended timeframe. Since the information available upfront is scanty, the website doesn’t earn the confidence of traders right away.

General Features of FxDiverse

Trading Strategy

The default strategy of the FxDiverse EA remains undisclosed by the developers. The trading system allows traders to customize the trading strategy including the profitability, the frequency of trade, the risk and the currency pairs you wish to trade in. The developers have held back when it comes to sharing details about the trading strategy of the robot. This fails to represent a credible picture of the robot.

Trading Results

The developer has provided trading results from a verified Myfxbook account that was started on February 2015. At the time of writing this review, the account shows a gain of 773% with a drawdown of 30%. However, what grabbed our attention was the specifically poor performance of the EA for some specific currency pairs. For instance, the EA shows only one losing trade for the AUD/CHF currency pair (You can see the performance for different currencies in the screenshot attached below). Further, the developer has kept the open trades private, which is a pretty shady move.

Trading Results

Trading Results

 

Customer Reviews

Unlike the common practice by forex EA developers, the FxDiverse website doesn’t list even a single customer review. With further research, we found that customer reviews are quite scanty, with almost no reliable reviews. For an EA that has been in the markets for quite some time now, this appears strange.

Conclusion

Advantages

Disadvantages

Verified Myfxbook account available

No information about developer

Flexibility of trading in 28 currency pairs

Trading strategy and recommendations not provided

Customization of trading strategy

Poor trading results for some currency pairs

Lack of reliable customer reviews

It is clear from above that the FxDiverse expert advisor puts forwards more disadvantages than advantages on initial scrutiny. A clear lack of transparency from the developers end and the poor trading performance of the EA for some currency pairs earns it a rating of just 5.5/10. Considering the price of the EA, this rating is nowhere good enough. There are enough alternatives available in the market in this price bracket that are far more dependable than FxDiverse. Traders are advised to take caution and opt for alternatives.