Agimat Trading System is said to be a high-performance Forex trading tool that is designed to run on a variety of platforms including MT4, MT5 and TradingView. Apparently, it also enables the user to trade every MT4 & MT5 instrument.
Agimat Trading System was developed by Dennis Buchholz, the founder of F.X. Tech Group Ltd, a software engineering company with offices in Spain and Hong Kong. The faces behind the system have been made public. We have Dennis (founder), Victor Lori (Support), Kim Ji Yeon (Admin), and Saharah (accounting). Nonetheless, we think that the team would have appeared more credible if their qualifications and experiences had been highlighted as well.
Agimat Trading System review
This Agimat Trading System Review seeks to establish if this robot is worth the trader’s time and money. Since, we have been told that its performance is good, we will pay special attention to the live trading stats to see if this claim is true, and subsequently advise you accordingly.
What is behind Agimat Trading System Review?
Agimat Trading System basically produces trading signals and utilizes them to conduct trades for the owner.
The key features of the system are:
- Does not repaint.
- Displays entry, SL and TP on the trader’s mobile charts.
- Pop-up alert notifications are provided.
- Uses a neural network.
The system mainly applies scalping and swing trading. The former approach is well-known for its low success rate. The latter tactic also has its shortcomings. The volatile nature of the Forex market makes swing trading highly vulnerable to market whipsaws. These can eventually lead to loss of capital. So, we believe that the combination of these strategies is ill-informed. Our concerns have been confirmed by the live trading data.
Backtesting results are not displayed. The system’s past profitability rate, risks, and performance of long and short positions remain obscure.
Agimat trading system is being sold at a one time license fee €174. This pack integrates free updates, 2 MT$ or MT5 account installations on demo/real, customer support, free Forex signals, mobile apps and video tutorials. However, a money-back guarantee is not included. Therefore, the system is not worth your money.
Trading performance of Agimat Trading System
Agimat’s live trading results are available on both FXBlue and Myfxbook.com. We have analyzed statistics from the latter platform.
This live account was activated on July 3, 2019 after being deposited at €15,599.49. The absolute gain of 37.44% was made after the EA created a profit of €5,840.60. However, the balance (€2,310.09) is not that much since a total of €19,130 has been withdrawn. The daily and monthly profits are 0.16% and 5.22% respectively. The drawdown rate which is 70.07% is insanely high. This account is at the verge of going under.
The number of trades (189) conducted during the two year period that the EA has been working are small. However, the win rates of 91% for long positions and 96% for short ones are quite good. The profit factor is 10.51. The average win of 5.97 pips is almost similar to the average loss of 5.92 pips. The lots traded are unknown since this data is locked. We suspect that large lots are used.
The profits made were small as they all fell under the 10% mark.
From the risk of ruin table above, we can see that it’s only a matter of time before the account will crash.
The support team can be contacted by filling in a form that is provided on the “support desk” page. The vendor can take up to 24hrs to reply, particularly on weekends. Therefore, traders are told to exercise patience. However, those who write impolite stuff will be ignored.
Most clients on FPA seem to be satisfied with the Agimat Trading System. A total of 269 traders have given it a rating of 3.995. However, we found a few negative reviews that we couldn’t ignore. One client raises concerns about Agimat FX Ultra’s inability to return signals. The other one complains of the high drawdown generated by the Agimat EA.