FX Track Pro is a Forex expert advisor developed for the MT4 and MT5 trading platforms respectively. The developer of FXTrackPro EA is unknown to the marketplace yet they claim to produce one of the most profitable Forex robots with low risks and significant profits. FX Track Pro is also selling licenses for any trading account with a possibility to change account number online without restrictions. This is a huge plus as most developers don’t take care of this part.
FX Track Pro Review
The developer of this Forex robot is unknown, and so is the location where they operate the business from. The vendor is not transparent about the trading strategy and performance of the EA. Only their sales pitch wants to convince us otherwise but in reality, their job is to sell licenses of this EA. In my opinion, this is not a very transparent service.
FX Track Pro Breakdown
According to its official website, FXTrack Pro is a very profitable Expert Advisor that can quickly increase your capital. Its profitability allows you to trade a small part of your deposit and still have a pretty solid profit.
They claim to have implemented many innovative and technological solutions in FX Track Pro. The Forex robot is compatible with the following currency pairs: EURUSD, USDCAD, GBPUSD, EURJPY, USDJPY and CHFJPY.
There are 2 types of license package for traders wanting to obtain copies of the FX Track Pro.
The standard FXTrackPro package costs $325 and is to be used on the EURUSD, GBPUSD and USDJPY currency pairs.
However, the FX Track Pro Super package costs $445 and it works complete on the 6 currency pairs available: EURUSD, USDCAD, GBPUSD, EURJPY, USDJPY and CHFJPY.
Both packages are available in Metatrader 4 (MT4) and Metatrader 5 (MT5) versions, comes with free lifetime updates and 24/7 technical support.
The FX Track Pro works with 3 indicators that come into play consecutively based on a certain algorithm. Meaning that the EA does not use them simultaneously to determine an entry point. In that case, only one is indicator is activated whenever the EA is put into action on your trading account. When the market situation changes, the EA can switch to another indicator style and start trading. Because of this arrangement, the vendor believes that the EA can achieve great efficiency in profitability and reduce drawdown.
You shouldn’t buy a license yet because of a simple logic like this one.
For this developer to compete with vendors who sell the best Forex EA, they must explain their software algorithm and document every step their automated trading system is taking.
FX Track Pro Results
They’ve posted screenshots of backtests showing historical performance quote.
The backtesting results shows trades taken on EURUSD, USDCAD, GBPUSD, USDJPY, CHFJPY and EURJPY.
The vendor believes that these makes the whole thing feel and taste like a reliable and profitable solution. The truth is that, there are many shortcomings associated with backtested results. Sample results can be manipulated and cherry picked to make the whole picture appear profitable.
However, the FX Track Pro vendor chose the path of a professional trading software by sharing trading performance from a third sharing platforms like myfxbook.com.
With that, we can get the feel of the trading performance directly from the vendor’s trading account.
Myfxbook.com results are shown for the ForexTrackPro USDCAD, ForexTrackPro EURUSD and ForexTrackPro Super (6 currency pairs). All the accounts are verified and hosted on the FXOpen brokerage terminal.
The Forex Track Pro USDCAD shows total trades of 180 with a total gain of +705.6%. The ForexTrackPro EURUSD have completed 93 trades with a total gain of +493.2%.
The FXTrackPro Super account has a total trade of 803 with a total gain of +943.55%
What is common among all the trading accounts is an unacceptable drawdown %.
While FXTrackPro USDCAD monthly gain is 14.63%, drawdown is 30.54%. The FXTrackPro EURUSD and FXTrackPro Super accounts follow this similar trend with a drawdown of 30.66% and 35.80% respectively, despite having a relatively lower monthly gains.
These drawdown marks are high considering that these accounts just passed a one year anniversary. Many vendors have drawdown levels similar or below these marks even after existing for many years.
In general, I don’t think that the vendor is adopting a much conservative approach ln securing trades.
They need to fix a handful of things before they can inspire any trust.
Other than discussing their trading methods and algorithm, they should introduce who they are and where they work from.