Forex NovaX EA MT4 – Free Download

Introducing the Forex NovaX EA

Forex trading has witnessed a significant evolution with the advent of automated trading systems. Among these, Forex NovaX EA stands out as one of the most innovative multi-currency trading robots available today. This article delves deep into the features, advantages, and potential drawbacks of Forex NovaX EA, providing a comprehensive review for traders interested in automated trading solutions.

What is Forex NovaX EA?

Forex NovaX EA is a professional, fully automated forex trading system designed to operate on the MetaTrader 4 (MT4) platform. It is engineered to analyze charts, identify trading signals, and manage trades automatically using its sophisticated built-in algorithm. Developed over years of rigorous programming and testing, Forex NovaX EA aims to offer one of the best forex trading experiences available.

Technical Specifications

Version: 3.03
Year of issue: 2024
Working pairs: EURAUD, EURCAD, EURCHF, EURGBP, EURUSD, GBPUSD, USDCAD, USDCHF
Recommended timeframe: 5M
Minimum Deposit: $500
Average of account: 1:30 To 1:1000

Best Brokers List

Forex NovaX EA works with any broker and any type of account, but we recommend our clients use one of the top forex brokers listed below:

BROKER NAME	REGISTER	Year Founded	Headquartered	Leverage	Minimum Deposit	Regulating
	Register	2007	🇦🇺 Australia 🇨🇾 Cyprus 🇧🇸 The Bahamas 🇸🇿 Seychelles	1:1000	$200	ASIC, SCB, FSA
	Register	2008	🇨🇾 Cyprus	1:Unlimited	$10	CySEC, FCA, FSCA, FSA, BVI
	Register	2009	🇧🇿 Belize	1:2000	$10	FSC
	Register	2009	🇧🇿 Belize	1:3000	$1	IFCS
	Register	2009	🇨🇾 Cyprus 🇦🇺 Australia 🇧🇿 Belize 🇦🇪 Emirates	1:1000	$5	ASIC, CySEC , IFSC
	Register	2010	🇦🇺 Australia	1:500	$200	FCA , ASIC, DFSA
	Register	2011	🇬🇧 England	1:500	$25	CySEC
	Register	2006	🇪🇭 Ireland	1:400	$100	CBI, CSEC, PFSA, ASIC, BVIFSC, FFAJ, SAFSCA,ADGM, ISA

Forex NovaX EA Settings

Why Choose Forex NovaX EA?

Verified Performance

One of the standout features of Forex NovaX EA is its proven performance, backed by a verified track record on Myfxbook. This transparency and reliability make it a preferred choice for many traders.

Extensive Backtesting

Forex NovaX EA has undergone extensive backtesting on multiple currency pairs over thousands of trades, covering many years of historical data. This ensures its adaptability to various market conditions over the short, medium, and long term.

Ease of Use

The EA is designed for simplicity and ease of use. Once installed on MT4, it can start trading on multiple currency pairs with default settings. Users can also customize settings, adjust lot sizes, or risk per trade to suit their trading preferences.

How Does Forex NovaX EA Work?

Forex NovaX EA operates by placing it onto charts within the MT4 platform. It automatically scans for trades and executes them based on its algorithm. The EA includes comprehensive setup instructions, full support, and lifetime updates to ensure smooth operation.

Review Forex NovaX EA Results

General Performance Overview 

1. Gain and Profitability:
   • Gain: +3,327.15%
   • Absolute Gain: +3,314.52%
   • Profit: $1,657,261.70
   • Balance: $1,705,885.59
   • Equity: $1,705,885.59 (100.00%)
2. Growth and Stability:
   • The growth chart indicates a consistent upward trend in equity growth, showing a solid performance with minor drawdowns.
   • Drawdown: 21.95%, which is relatively high but manageable given the overall growth.
3. Interest and Deposits:
   • Interest: -$60,016.42, indicating that some costs have been incurred.
   • Deposits: $50,000.00
   • Withdrawals: $1,376.11
4. Trading Frequency:
   • The EA seems to be actively trading, as indicated by the consistent deposit markers and gradual equity growth.

Monthly Analytics 

1. Monthly Gain Percentage:
   • January 2024: 1.23%
   • February 2024: 2.97%
   • March 2024: 2.67%
   • April 2024: 2.86%
   • May 2024: 3.28%
   • June 2024: 1.96%
   • The monthly gains show a positive trend with variations, indicating that the EA can capitalize on different market conditions effectively.
2. Reward to Risk Ratios for May:
   • GBUSD: 9.14 (indicating a strong risk-reward ratio)
   • Other pairs (EURAUD, EURCAD, EURCHF, EURGBP, EURUSD, USDCAD, USDCHF) all have a reward-risk ratio of 1.
3. Currency Popularity for May:
   • Most traded pairs: EURAUD, EURGBP, and USDCAD (each at 21.1%)
   • Other pairs: EURUSD (10.5%), GBPUSD (8.8%), USDCHF (7.0%), EURCAD (8.8%), EURCHF (1.8%).
4. Average Holding Time for May:
   • EURCHF: Longest average holding time.
   • EURAUD: Average holding time is about 2.78 hours.
   • Other pairs have shorter average holding times, indicating a mix of short-term and long-term trading strategies.

Summary

• Performance: The Forex NovaX EA demonstrates robust growth with a high overall gain percentage and significant profit. The consistent equity growth curve with manageable drawdowns indicates effective risk management.
• Monthly Performance: The EA shows variable but generally positive monthly gains, adapting well to changing market conditions.
• Trading Strategy: It utilizes a mix of currency pairs with varied holding times and exhibits a strong risk-reward ratio, particularly with GBPUSD in May.

Advantages of Forex NovaX EA

• Automation: Eliminates emotional trading and allows for round-the-clock trading.
• Proven Track Record: Verified results offer confidence in its performance.
• User-Friendly: Easy setup and customizable settings cater to both novice and experienced traders.
• Backtesting Accuracy: Realistic backtesting ensures reliability and robustness in various market conditions.

Disadvantages of Forex NovaX EA

• Dependency on MT4: Limited to MT4 platform, which might be restrictive for traders using other platforms.
• Initial Learning Curve: While user-friendly, initial setup and understanding may require some time and effort.
• Market Conditions: Like all trading systems, its performance can vary with changing market conditions, which means periodic adjustments might be necessary.

Conclusion

Forex NovaX EA stands out as a robust and innovative solution in the realm of automated forex trading. With its verified track record, comprehensive features, and user-friendly design, it offers a compelling option for traders looking to automate their trading strategies. However, it is essential to consider its limitations and the need for occasional adjustments to ensure optimal performance.

Download Forex NovaX EA

Please try for at least a week an XM demo account. Also, familiarize yourself with and understand how this free forex ea works before using it on a live account.

Disclaimer Trading Forex carries a high level of risk, and it is important to perform thorough research and seek professional advice before engaging in any trading activity