Forex Robot ReviewsPassive Income

FXClassic Trader Review: Is It Wise to Hand Your Trading Over to This EA? 

2 Mins read
5.0

The devs inform us that FXClassic Trader is not just an ordinary expert advisor. They have spent years conducting research so as to develop a perfect algorithm that is not only safe but also robust and lucrative. Well, this is subject to debate, and our review of the system will shed more light into its efficiency. 

FXClassic Trader company profile

FXClassic Trader is the vendor of this system. It is supposedly one of the principal software providers that specialize in creating professional and high-quality programming solutions for expert advisors. Info on the company’s history and location is, however, missing. 

The highlights of FXClassic Trader

These are the highlights of the robot:

  • It exclusively runs on the MT4 platform.
  • The minimum leverage you can use is 1:50, but the vendor recommends working with leverages ranging between 1:100 and 1:500.
  • The minimum recommended balance is $200.
  • Use a VPS if your computer or internet connection is poor.
  • It comes with a money management system and works with all brokers.
  • The system adheres to the FIFO rule and offers frequent updates.

The robot applies price swings between support/resistance levels as a strategy. It also uses an indicator to assess the market daily and then decides when to open and close transactions. Unfortunately, this is as far as the devs go into explaining how the system trades in the market. A little more detail to provide full insight into the EA’s workings would really be appreciated by the trading community.

Facts & figures

Backtest data
Backtest data

At a glance, we can see that the trading outcomes produced by the system are rather outstanding. For instance, it turned a $499 deposit into a $783073.59 profit within the 2017-2020 trading period. This is after it completed 429 orders and won 86.01% of them. The profit factor (13.23) was also large, meaning that the return on investment was so high. Better still, the low drawdown (14.78%) made indicates that low-risk trading was used. 

Live results on FXBlue
Live results on FXBlue

The above account was opened 8+ months ago, and through a deposit of $1,968.18, the EA has produced a profit of $1884.46 hence increasing the balance to $3852.64.

Performance of trades
Performance of trades

There’s a total return rate of 234.2% generated from 246 trading days. This growth rate is remarkable, and so are the monthly (15.6%) and weekly return rates (3.5%). The robot carries out 0.3 trades per day, and to date, it has won 1024.3 pips. The peak drawdown, which is -5%, is small and doesn’t threaten the existence of the account. 

Risk of ruin
Risk of ruin

The risk/reward ratio is 2.34, whereas the risk of ruin is 0.2%. The average trade length is 5.4 days, and during its worst month, the robot incurred a loss amounting to -$30.51. There’s an average win of $47.66 against an average loss of -$40.93. 

Trading history
Trading history

The system generates substantial profits from trades and works with a grid of orders in some instances. 

FXClassic Trader packages

The price of this product ranges between $109, $129, to $149, depending on the package you select.  All the plans come with free upgrades and support, coupled with real and demo accounts. There’s no mention of a money-back guarantee. 

Assistance

The support team can only be contacted via email provided on their website.

Other notes

The robot has an active page on FPA, which was updated almost a year ago, but no user reviews have been posted yet. So, traders visiting the site to see what others are saying about the system will be hugely disappointed. 

Customer feedback on Forex Peace Army
Customer feedback on Forex Peace Army

Is FXClassic Trader a reliable system?

The system works with a low drawdown both in the short and long term market conditions. It is also capable of generating profits for users. However, you have to be wary of the fact that the EA partly applies the grid strategy. This can threaten your capital in the long run. 

FXClassic Trader Summary

5.0
The EA is updated regularly, which hints at the devs’ dedication to enhance its efficiency. This may explain the high total return rate the system has reported on FXBlue. Safe trading is also applied, as evidenced by the low drawdown. Unfortunately, there’s no user feedback to confirm if the live results can be replicated on traders' accounts or not.
7.0

Performance statistics

2.0

Reviews from customers

6.0

Ease of use

5.0

Implemented strategies

5.0

Pricing

Pros

  • +Updated frequently
  • +Profitable
  • +Low-cost
  • +Low drawdown

Cons

  • -Lack of customer feedback
  • -Vendor transparency is wanting
  • -The grid is part of the trading strategy
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