FXQuasar is a Forex EA optimized for the AUDUSD pair. In this review we reveal the internal workings and performance of the FXQuasar Forex robot.
FXQuasar EA Review
FXQuasar is a fully automated trading software optimized to trade the AUDUSD pair on MT4 and MT5 platforms. The vendor claims that it is designed to bring profit to traders.
FXQuasar is compatible with any broker including NFA regulated brokers. Also, the robot works with any account type, moreover you can get the same trading results as the vendor.
FXQuasar is owned by a group called Forex Store. Very little can be said about this group because they’re generally keeping a low profile.
Their location is not known and the individual traders or developers in charge of the robot have never been introduced.
What we know about Forex Store is that every 2 months they have to release a new Forex robot. If this is the case, then updates are not likely to be done on a timely manner.
In addition to this, we feel that this frequency of production makes them look as if they’re more commercially-oriented than result-oriented.
It would be best if they stick with one or two products which they’ll focus on to improve results overtime.
FXQuasar works by matching market analysis and past price movements to an in-built trading sessions that determine the direction of trade.
The FXQuasar works with 6 independent sessions which allows them to enter the Market when it is necessary. 3 of these sessions trade exclusively using long (Buy) positions and the other 3 using short (Sell).
Each of the FXQuasar sessions analyzes the market in its own way, precisely from the point of view of long or short positions. There is a risk management system that will let you secure your investment and allow to regain losses when it comes.
This is very similar to what we saw during our review of one of their robot, FXConstant. The vendor just added a twist. The rest of the process still remains the same.
The big question still remains whether the robot can earn more money using this strategy.
Unless we see result proof that they can maintain a sustainable win rate, we can’t take their story for it.
- FXQuasar is a Forex robot for MT4 and MT5 platforms.
- It is optimized for the AUDUSD Forex pair.
- Works based on 6 in-built sessions for analysis
- Compatible with any broker, using any account type.
- NFA broker compatibility.
- Sold for a price of $279
The robot comes with a single package for MT4 and MT5 versions, which costs $279 for a lifetime license. You will get the possibility to change the account number online, possibility to trade on demo or live accounts, detailed user manual, high-quality technical support 24/7 and free updates.
The vendor of FXQuasar allegedly tested the robot on historical quotes for many years to understand how good or bad it is.
This allows them to provide two backtesting reports to the public. The first AUDUSD test shows a total gain of more than 3,425,000% and the second test 28,000%.
The backtest was done using 100% risk for the first and 35% risk for the second. But is it legit, can you trust it?
The reality is that the backtest is a scam. There is no real profit behind it, not a real trading test. Robot vendors are just cherry-picking profitable trades.
FXQuasar Trading Results
FXQuasar is supposed to be a profitable robot with verified trading results at a 3rd party result sharing website. At least that is what they try to make you believe by showing their myfxbook account on their website.
This account is verified and hosted on the FXOpen metatrader 4 platform. So far, the robot has completed over 302 trades with a total gain of +478.29%.
The EA has won 222 trades out of the 302 trades, which represents a win rate of approximately 74%. Average win for this robot is 39.37 pips while average loss is -101.22 pips. FXQuasar robot makes 11.98% monthly with drawdown of 32.77%.
While returns are quite good so to speak, we’re worried of the high draw down figure which is also clearly reflected in the deeps which occur in the equity curve.
This shows that FXQuasar team is using grid or Martingale trading elements in their algorithm.
It is the reason their robots suffer high draw down despite results being pleasant.
FXQuasar EA is not the typical robot that you will put into action without close monitoring. It appears that the robot has elements of risky trading strategies.
We’ve also observed that FXQuasar pricing is out of the normal as most Forex robots cost less than $200.
Even if we were to recommend these Forex robots, we don’t see how they would beat the best Forex EA stats.
We appreciate the fact that the developer proved that they’ve been using their robot on a real account and risking their money.
However, we’re not ready just yet to use or recommend the robot at this time.