FX Classic Trader is an automated trading robot that claims to have upto 2190 clients. The owners of FX Classic Trader are declaring that they are one of the leading software providing companies specialized in professional and high-quality programming solutions for automated forex robots. The FX Classic Trader robot is purported to be the result of years of hard work and testing to develop a fully automated trading solution. If you’re the kind of trader that falls for the sweet words, marketers will lie and mislead you everyday.
Therefore, if you’re reading this FX Classic Trader EA review, you should be keen on the things we’re discussing and the issues we’re raising. Afterwards, you’ll have a good clue of what this EA is and whether or not it can be of any benefit to your trading.
In the meantime, you can take a look at this page of best Forex robots that beginners need in order to succeed.
FX Classic Trader developer does not wish to disclose their identity or physical address. They provided a Google Map tool but the plugin is currently offline. Contact email is at [email protected] However, they seem to focus so much on reassuring traders that their EA is the next big thing in the marketplace.
FX Classic Trader Review
The developer wants traders to know that thousands upon thousands of hours of programming and testing has gone into the research and development of FX Classic Trader. They also want traders to know that this Forex robot is not just another EA but a perfect trading strategy that is safe, robust and profitable at the same time. In addition to this, the vendor has said that their Forex robot is fully automated, smart money management, following FIFO, workable with all brokers, lifetime support and 100% verified results.
But we also need to remember that these promises are made by nearly every Forex robot vendor out there. We’ve seen this style of promotion with developers of robots like Forex Pip Killer, Forex Lush, Fly Higher Nova and many others. They always want to promote their products using the best phrases they can think of. But the reality is always different.
So FX Classic Trader developer is not the first vendor to peddle his products using this style of marketing.
There are 3 licence packages available for clients – Basic ($109), Business ($129) and Premium ($149). All the packages come with Lifelong license, Free upgrades and support.
The Basic license allows for 1 demo and one life account, the Business package allows for 2 demo and 2 live accounts while the Premium allows for 3 demo and 3 live accounts.
The FX Classic Trader trading logic explanations comes out shallow and lacking in details. We can see that the EA strategy is based on support/resistance and indicator analysis. According to them, the EA analyses the market everyday with a unique algorithm that solves when to close and open transactions. In addition to this, the vendor has said that their Forex robot is non-Martingale.
They have said that their Forex robot is broker independent and the risk management is professionally designed to cut losses early and allow good trades run to maximize gains.
At this point, we need to look at the product quality with regards to trade performance and what the FX Classic Trader equity curve looks like.
The FX Classic Trader is tracking their trade performance and equity curve on FXBlue apparatus instead of the myfxbook.com platform. This means that there is a loophole for some kind of manipulations.
The FXBlue statistics is showing a total return of 156.64% within 116days of trading period. The monthly return is +32.2% and peak drawdown is -1.8% which looks too good to be true. The equity curve had been rising steadily over the months. So the question is why the developer is not tracking their result on myfxbook.com. Is this developer manipulating statistics?
While results for the FX Classic Trader Forex robot seem impressive, we ‘re still worried of the fact that this developer failed to use the service of myfxbook. This means that either the developer is fixing some stats with FXBlue or the developer wants to manipulate the results in feature if the EA strategy fails. Either way, it is a trick that is commonly used by many Forex robot developers. It is hard to find a developer who has a perfect and profiting myfxbook equity curve.
FX Classic Trader Forex robot team needs to explain to us why they are not tracking performance on myfxbook.com if the EA is actually achieving impressive results. We also need to build confidence based on the experience and achievements of the people behind the software.
Otherwise, we feel that this product is not ready for the market yet and traders could be looking for something better. Thanks for reading the FX Classic Trader EA review.