AceFx.com is an independent rating site for automated Forex Trading Robots (EAs) released on the MQL5.com Marketplace which currently hosts about 4000 EAs available for clients to purchase.
The MQL5 Marketplace’s reputation has been tarnished by EA scams, and is no longer a reliable source for purchasing automated trading tools.
Currently vendors can present freely their own backtests in the Marketplace for promoting their trading robots. This has lead to some vendors gaming the system by using low modelling quality or other backtesting options which may provide inaccurate results. These results differ vastly from backtests done with professional tools using 99.90% modelling quality. Most retail clients are unfamiliar with using these tools, showing the urgency for better testing and reliability from an independent source. An example of these scams is dishonest vendors marketing trading robots which game the system by reading the price history and place the trades in backtesting accordingly.
The end result is fabricated testing results and there is zero responsibility. Many clients have lost hundreds or even lost thousands of dollars due to such scams.
Backtesting is the most important decisive factor for making the purchase decision. The MQL5.com Marketplace does not offer any viable options for the clients to run any forward tests on a demo account, before having to purchase the EA. This where AceFx.com steps in. All new EA releases are being backtested professionally with 99.90% modelling quality using real tools. The EA is then rated based on the backtest results and other necessary criteria, such as EA pricing, rental options, and author history. Some EAs will also be placed in forward test monitoring to ensure high quality standards.
The site has also a discussion forum for exchanging opinions about different EAs to provide user support and transparency. Vendors are also welcome to participate.
Our website will be an excellent money saving tool for current and future MQL5.com clients. It should also increase the overall quality of the market place, so it is a win-win situation for everyone involved, including Metaquotes who owns the MQL5.com.