FXConstant EA Review 2023

FXConstant EA Review

$267 Buy Now
In this review, we analyze the strategy and performance of a Forex robot FXConstant designed for MT4/MT5 platforms.

FXconstant EA

Visit Forex Robot Site >>

FXConstant EA Review

FXConstant EA is a robot launched by the ForexStore group. All services and descriptions can be found at fxconstant.com web address.

It poses itself as your constant key to profitable automated trading every day.

FXConstant EA Review

FXConstant EA sales page is definitely oozing with confidence and the community would like to see the performance results before anything else.

FXConstant Strategy

FXConstant makes use of a special algorithm that matches a specific market movement. In other words, FXConstant EA utilizes pattern recognition depending on the specificity of the price movement.

There are 20 patterns that can be matched to current market behavior. When there is a pattern-to-market match, the EA is activated and opens a trade in the necessary direction.

FXConstant EA Strategy

Also, there is a risk management system tailored to each FXConstant pattern. Whenever a particular pattern is selected for the market, a corresponding risk management system is put into place indicating when to close a trade, in which direction to open a new trade, and when to finish the trading of a selected pattern.

FXConstant makes the whole scene appear like a bullet-proof strategy. But the right question is whether there is any trading strategy that is completely safe.

Unless we see proof that they can maintain a sustainable win rate, we can’t take their story for it or even include them in the most coveted list of consistently profitable robots.

EA Breakdown

  • FXConstant is a Forex robot that works on both MT4/MT5 platforms
  • It opens trade using 20 patterns and a risk management system to manage trades.
  • The preferred time frame is not available
  • The price is $267 (Exclusive price) per license.

A single license cost $267 (exclusive price) and it is available for any account type, both MT4/MT5 versions, with unlimited possibility to change account numbers online, a detailed user manual, and 24/7 reliable technical support, see more.

FXConstant EA License package

The vendor provided two backtesting reports for the EURUSD pair, Aggressive and Normal. These tests were conducted on an H1 time frame for a period between 2012 and 2021.

So far the win rate is 52.90% for the aggressive with a drawdown of 47.49%. The FXConstant normal backtest shows a win rate of 52.76% with a drawdown o 28.93%.

FX Constant Backtest

We don’t usually accept backtesting results from vendors as proof of actual performance. This is due to the widespread manipulations we have seen over the years.

Even worse, the FXConstant EA backtest was done for a demo account, hence it cannot be a strong indication to purchase a license.

FXConstant Trading Results

FXConstant provided a link to their trading account at myfxbook.com. This is a real account showing live performance within the period of September 2019 to September 2021.

So far, the robot has just completed 166 trades meaning an average trade of 7 in a month.

FXConstant result1

Within this period, the robot has managed to make a total gain of +389.03% with an average win per trade of 44.33 pips and an average loss of 43.50 pips.

While the monthly gain is 6.21%, the drawdown is fairly okay at a mark of 17.76%.

FXConstant win rate

Meanwhile, the robot has a win rate of 55% which is not enough to break even.

This kind of win rate is not sustainable for those looking to make full-time income trading.

Bear in mind that there is nothing to support adequate strategy and risk management here.

The only risk management we see is the robot not trading frequently to avoid losses.

Conclusion

FXConstant doesn’t look like a viable option for professional traders looking to establish a solid trading account. But if you can manage a few pips within a space of time, then FXConstant can be an option.

This is not what we expect because their website suggests that they are a serious business.

Moreover, we find that what they charge for their license is relatively cheap for an expert advisor like this one.

Ultimately, I expect them to up their game so they can fairly compete with established trading robot services.

FXConstant Expert Advisor

$267
7.1

Trading Result

7.5/10

Strategy

7.5/10

Website

8.0/10

Pricing

6.0/10

Transparency

6.5/10

Pros

  • Myfxbook result
  • Backtesting results
  • Strategy insight
  • Drawdown control mechanism
  • Fair pricing
  • Recommendations
  • Full support

Cons

  • Average win rate
  • Very conservative
  • Few pairs
Spread the love

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top