Forex Oxygen EA Review – An In-Depth Analysis
Forex Oxygen EA is an automated trading system that claims to help traders make consistent profits in the forex market. This review provides an in-depth analysis of the EA to determine if it delivers on its promises.
Overview of Forex Oxygen EA
Forex Oxygen EA is developed by a team of traders and software developers with years of trading experience. According to the vendor’s website[1], the EA was created in 2018 and has shown positive results since 2019.
The EA works on the popular MetaTrader 4 (MT4) platform and is fully automated. It does not require any manual intervention once properly installed and configured.
Oxygen EA Features
Some of the key features of Forex Oxygen EA include:
- Fully automated trading – no manual intervention needed
- Works on MT4 platform
- Trades multiple currency pairs
- Easy installation and setup
- Suitable for all types of brokers
- Comes with installation guides and instructions
Trading Strategy and Logic
Unfortunately, the developer does not reveal much information about the specific trading strategy and logic used by the Forex Oxygen EA. This lack of transparency is a concern.
Based on the limited information available, we can deduce the following:
- It is not a scalping or averaging system
- It seems to hold trades open for an average of 7 days
- May use some combination of technical indicators to identify trading opportunities
More clarity regarding the trading approach would have been useful to better evaluate the EA.
Backtests and Historical Performance
The vendor provides some backtest results from 2006 to 2015. However, backtests have limited utility in determining the viability of an EA. Live performance results are more relevant.
Demo Trading Account
A demo account statement is provided showing decent gains over the past two years. But it is not verified by Myfxbook or any independent agency. So the results cannot be fully relied upon.
Key stats:
- Platform: MetaTrader 4
- Broker: FXOpen
- Period: Aug 2018 – Dec 2020
- Gain: 36.64%
- Drawdown: 15.69%
The lack of third-party verification raises credibility issues.
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Live Trading Accounts
Surprisingly for an EA in the market since 2018, no actual trading accounts could be found. This is a major red flag regarding transparency.
The vendor makes performance claims but does not provide verified live results to back it up. Independent verification is essential to assess the true viability of any EA.
So historical trading performance does not support the vendor’s promises. More transparency would have been reassuring.
Oxygen EA Pricing and Support
The Forex Oxygen EA is priced at $210 which seems reasonable compared to many other EAs.
The package includes:
- 1 License
- Installation manual
- Free lifetime updates
- Two trading modes
- 30-day moneyback guarantee
Email support is provided but no information is given regarding response times or availability.
So pricing is competitive but sub-par support services.
Oxygen EA Final Verdict
In summary, while Forex Oxygen EA shows some potential, the lack of transparency and independent verification makes it a risky proposition.
Pros
- Competitive pricing
- Decent gains in demo account
Cons
- No clarity on trading logic
- No verified live results
- Questionable credibility
The absence of live trading accounts and lack of details on the system does not provide enough validation of its profitability claims. We do not recommend using this EA in its current state. More historical proof and transparency is needed before it can be considered viable.
Use at your own risk! And ensure thorough testing before going live.