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FX Classic Trader Review: Is It a Reliable System?

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FX Classic Trader

FX Classic Trader employs a trading logic that considers the price swings between support and resistance combined with an indicator analysis. The sellers claim it does not use a risky martingale strategy, but there is no proof supporting that. We will go through the information available about this bot to review the algorithm so that traders can understand its performance.

The robot has the following features:

  • It is compliant with NFO/FIFO regulations.
  • The robot can work with any broker/account type.
  • It has a price feed of 5 digits.
  • 200 USD is the minimum deposit required to use this system.
  • The robot can work 24/7 with full automation.

Trading strategies and currency pairs

The developer states that the robot uses price swings between support and resistance along with indicators. It does not implement the martingale strategy and is compliant with all brokers.

From the history of FXBlue, we can observe that the robot uses a high stop loss (100+ pips) with a small take profit(10+pips). It trades on EURGBP with an average trade length of 5.4 days.

Trading history on FXBlue

Trading history on FXBlue

Backtesting records have been provided for the robot for the EURGBP currency pair. The timeframe for this is H1. These records cover the period of 3 years (2017.01.01-2020.03.30). A 90% modelling quality has been used to create this report.

From these records, it can be seen that the initial deposit of $499 was converted into a total net profit of $783073.59. The profit factor stood at 13.23, but a high absolute drawdown of 20.99% does not make this profit stat seem plausible. This product showed the largest profit trade of $36251.47 and the largest loss trade of -$9124.76.

Backtesting records for the robot

Backtesting records for the robot

FX Classic Trader trading statistics

Live trading results have been provided for the robot verified by FXBlue. The currency is CNH. Performance can be tracked from 2021/08/30 till 2022/01/27. It can be inferred the system generates a monthly return of 15.40% with a profit factor of 3.50. Balance stands at 3,811.36 CNH. The system has lost -736.69 CNH in trading until this point. It should be noted that there is no information mentioned about the drawdown of the system, which runs against best practices.

FXBlue-verified live trading results on the website

FXBlue-verified live trading results on the website

Pricing and refund

The system is sold in three packages: Basic, Business, Premium. The Basic costs 109 USD and provides access to 1 real and 1 demo account. The Business plan offers 2 real and 2 demo accounts for 129 USD while the Premium is sold for 149 USD and grants 3 real and 3 demo accounts for usage.

All prices are fixed and one-time. Free upgrades are offered post-purchase. There is no information about the availability of a money-back guarantee.

The price of the EA on the FX Classic website

The price of the EA on the FX Classic website

What else you should know about FX Classic Trader

We could not find any reviews or past customers’ feedback about this EA on third-party sites like Forex Peace Army and TrustPilot. Although we did find an account slot open for reviews on TrustPilot for this robot, no one cared to give a review about it.

Customer feedback for the robot on TrustPilot

Customer feedback for the robot on TrustPilot

FX Classic Trader Conclusion

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FX Classic Trader is not a trustworthy EA as the live trading results lack depth. Furthermore, there is no information about the whereabouts or the profile characteristics of its developers, which puts its legality into doubt. Also, the historical testing records show that the robot has a high drawdown which points towards the high loss potential of the algorithm.

  • Price - 3/10
  • Strategy - 4/10
  • Trading results - 3/10
  • Vendor transparency - 2/10
  • Customer reviews - 2/10
  • Support - 4/10

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