FxHT DailyTrend EA Review

FxHT DailyTrend EA, an automated Forex robot developed by FXHT (a company that has created many other notable EAs). We could not locate any additional information about the vendor such as their name, address, or contact details. The lack of transparency from the vendor was alarming.

Trading strategy explanation

According to the vendor, this EA is compatible with all FX pairs that have high volatility. The FxHT recommends fixed lots for money management. The minimum allowable quantity is 0.01 tons. Each trade also includes stop loss and take-profit orders.

The bot allows you to modify the settings and make adjustments to suit your needs. You could see an improvement in your results by doing this. We were unable to find any further information about the trading strategy the bot uses. This again raises red flags on the vendor’s lack of transparency.

You get features like:

• This bot can be used with all types of account and brokers.

• EA can trade all highly volatile pairs.

• Fully automated robot that trades 24/5, without the need for any user input.

• Optimized settings

• No dangerous strategies like martingale, hedging, or grid trading.

Backtest data analysis

There is not evidence that an FxHT DailyTrend EA back-test was conducted on their official website. Trusted third-party sites such as Myfxbook and FXStat did not show any similar results. A forex robot would find this lacking data very concerning. This makes us suspect that the vendor is trying to conceal something.

Live trading data analysis

On the official website, there is not evidence of an actual live testing of this EA. Myfxbook, however, conducted an actual live test for the FxHT DailyTrend EA on a demo account. It ran between May 17th and June 2nd, 2022.

Live trading started with a $10,000 initial deposit. Within two weeks, 13 trades had been made by the bot. The bot made 13 trades in total, 12 were long and 10 resulted from profit. Rest of the trades were short and ended in loss. In total, $284.34 was earned by the bot.

The gain was 3.05%. This is equivalent to 0.1% daily gains. The profit factor was 3.75 and the drawdown was 0.74. Due to the short period of the trial, these results are far from conclusive, and thus cannot be fully indicative of the bot’s performance.

Oddly enough, SL and TP information can’t be verified. It was hidden by the dev. Why is it that the developer chose to hide the entire trading history of the system, even though there are no risky approaches. Probably it’s because Martingale is applied. You can see that the system creates grids of orders and loses are more than wins.

Customer feedback

Trusted third-party websites such as MyFxBook and Trustpilot did not provide any testimonials. There were no user reviews on the EA’s official site either.

Review summary

FxHT can work with all brokers and trading accounts. Grids of orders are used. The developer tries to convince users that risky trading methods are not used. However, it does not specify what specific strategy is being employed. It does not provide any backtest results on the website or on third-party websites. What’s even more suspicious is we couldn’t find any user reviews on the bot.