OxygenFXTrader.com Review

2.696 · 6 REVIEWS
Updated: Apr 17, 2020 · Visit site  · Is this your company?

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

Status Account Product P/L Weekly,% Weeks tested P/L Gross,%
Oxygen FX TRADER +0.26 20 +5.266

Performance results may be delayed. Please click the test to see detailed current report.

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2.696 · 6 REVIEWS
Forex Peace Army
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Traders Reviews

Robert,
Riga, Latvia,
Apr 14, 2020,
Guest

I 've been using Oxygen EA about 10 months.

Service use: Other

Length of use: 6-12 Months

I 've been using Oxygen EA about 10 months.
Got good profit and support from this EA author.
My account had no any problems.
I always stick to moderate risks.
  2 traders have found this review helpful
Bratislava, Slovakia,
Apr 12, 2020,
Registered user

Scammer

Service use: Live

Length of use: over 1 Year

Attention to ALL, this developer is scammer!! Waste your money!
After crash account , he open NEW account for best presentation...
  1 trader has found this review helpful
Dallas, USA,
Feb 22, 2020,
Registered user

Martingale Trading

Service use: Live

Length of use: 3-6 Months

This EA tends to work very well, I doubled a 2500 dollar account in less than 2 months time on 1:50 leverage and it was extremely nice (During December 2019 and January 2020). The bot works incredibly well if you set the value of MAXIMUM_RISK to 0.1 (where for every 100 dollars in your account the lot size increases by 0.01).

The system works pretty well where it will do everything for you and it's a set and forgets. If there is drawdown usually the bot will look for another entry as it is a better price to enter in and can make you earn 20% on a single trade.

While it has been commented on by a shady EA review website, they claimed that the strategy is martingale based, meaning that the trade when going against you will still be held no matter what. In February of 2020, the EUROUSD pair dropped dramatically and the bot kept holding buys and dropped its accounts a whole 30-45%. In my opinion it does not get more martingale than this. The bot has no stop losses which isn't a bad thing because it means you can't get whipped out by your broker.

Overall, still a good EA. There is a tendency for trades held over 250+ hours to fail, so if you have something for over a week and a half, look for an opportunity to cut your loss.
  1 trader has found this review helpful
Australia, Australia,
Dec 11, 2019,
Registered user

Good EA

Service use: Live

Length of use: 6-12 Months

I have purchased a license for two accounts. Their purchase process was efficient, and I have installed the EA on two of my Live accounts.

I have used the EA briefly on both accounts, and I intend to use their EA in future. Performance has been positive overall, but there is some risk involved. It is important to manage the risk levels by following vendor recommendations on currency and equity requirements. I experienced profits on recommended pairs, and losses on some unrecommended pairs I tested the EA on.

I will be considering purchasing more licenses in future. I think they are honest and there is potential with this EA to succeed.
  2 traders have found this review helpful
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.
  1 trader has found this review helpful
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.
  1 trader has found this review helpful
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
  1 trader has found this review helpful