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OxygenFXTrader.com Review Visit site

Updated: Oct 21, 2019
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2 REVIEWS
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About OxygenFXTrader.com

The OxygenFXTrader is a forex expert advisor. The Oxygen FX Trader automated forex trading software for the MetaTrader platform has been forward tested on a live account by Forex Peace Army. The OxygenFXTrader.com forex robot is no scalping or averaging, and works with all brokers.

OxygenFXTrader.com

Performance tests

StatusAccountProductP/L Weekly,%Weeks testedP/L Gross,%
Oxygen FX TRADER+3.337.9+241.996

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2 REVIEWS
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Consumer Reviews

Geneve, Switzerland,
Oct 19, 2019,
Registered user

Not a good EA

Service use: Live

Length of use: 0-3 Months

I have been using this ea for a month, I lost lots of money and I'll explain why I think it's a scam.

About backtesting :
If you backtest this ea during the last year or the last 2 years, you will have a perfect line rising for your capital with a very low drawdown. On my side I got quality data since 2010 with a software called Tickstory. From 2010 to the end of 2014, the results were awful, and there is even a drawdown of 80%. And from a specific date in 2014, the result start to be perfect, and until recently it stays perfect. How a strategy can be awful, and then perfect for the next 5 years ? I can understand that a strategy can win in specific periods, and lose at some others, but not suddenly like that, and not for 5 years.
And then when I use it on a live account, why the results look like the ones before 2014 ?
I'm also a developer, and with a specific function you can tell if you are backtesting or not. So my theory is that when you are backtesting, on a specific period, instead of using the strategy, the ea open and close at specific dates entered by the developer (and he entered them from 2014, thinking nobody will have tested before). This scam looks like the Volkswagen emissions scandal (see wikipedia).

About live account :
So the second questions I asked to myself, is how did they manage to have a live account from January 2019, which seems to work very well ?
I had my answer when I started to loose lots of money and that my equity lost nearly 20% of my balance. I was losing, and I was able to see that their equity were going down also with a big loss on FXBlue, but at the same time I was able to see that the balance were jumping up with a big move.
So my theory is that each time their equity decreases too much compared to the balance, they add money to the same amount of their lost. So if they close their trades at loss, it will be like if they haven't lost anything. If the price come back in their favor, it will seems that they will have won a big amount. That's why also the line of profit looks like a staircase. There are few times they haven't add money but is was always on small loss.
This system work for them because they started with a very small account (something like 150$). It's something they won't be able to do forever, because more there are money on the account, more they will have to add money, but during the time it is working, the guy will be able to have made lots of money with selling his ea.
nate,
Texas, USA,
Oct 11, 2019,
Guest

Service use: Live

Length of use: 0-3 Months

It's a great EA. Does not trade often at all. Maybe a few times a month but has been winning. I'm going to run it a little longer before I get another license for my other broker. Took a way one star only because i wish it would trade more.
Baal, Belgium,
Aug 28, 2019,
Registered user

Correction after first review

Service use: Other

Length of use: Have not used

After a while a got an email from oxygen... and after I asked my money got refunded to me.
There was no problem in refunding the money at all. Tho, after some mails I got the answer to my question.

Aug 22, 2019 - 1 Star Hello all

I ordered the EA on 20/08/2019 with oxygenfxtrader and wanted to know what leverage I had to use on the account I have to send to them.
I asked that question now 3 times and still I got no answer.

I know that somebody has to be the first one. Don't know if it is a scam, but I feel like I'm scammed. No I lost 119$ + 21% taxes with this firm.

I would like to get my money back, because after this, I don't know if it will ever work. Hopefully FPA could help me with this.

Thanks,
Guy Goris