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