FX Classic Trader is a new creative Forex expert advisor that wants to provide the best business solutions. The system is built with the intention of being both quick and powerful. It works exclusively with MT4 compatible brokers, and will trade 100% on autopilot. Today we will be providing a review, and letting you know if it’s a tool worth adding to your arsenal.
Launched just over a month ago, the creators of the service fail to disclose their location or identity. We are unsure why they aren’t being transparent about these aspects, but it is a red flag. It is always our preference to purchase products and start relationships with known traders that already have reputations in the Forex market. In this case, we really have no idea who we would be trusting with our hard earned money, which is dangerous.
To get in touch with support, traders can email email@example.com. If you happen to get a hold of them, please ask them why they aren’t disclosing their location or identity at this time.
FX Classic Trader Review
Our first impression of the FX Classic Trader presentation is negative. The website is quite unprofessional with a bad design, a Google map feature that isn’t functioning and a bunch of spelling mistakes. While it’s clear that the development team knows English as a second language, we don’t believe that’s a viable reason to have all of these issues. They should recognize that they don’t have certain skills, and pay someone to help them out. This is the logical solution, and one we would expect a team of intelligent people to be able to come up with on their own.
The creators do not look like they have the capabilities to produce one of the best Forex robots on the market, but we don’t want to judge a book by its cover.
The FX Classic Trader team provide us with a few sentences about their “really unique trade algorithm.” It isn’t a lot, but it is often more than we get from most robot developers, so we aren’t going to complain.
They tell us that the robot looks for price swings between support/resistance combined with indicator analysis to calculate trade opportunities. The software will then open and close trades based on this data while continuing to analyze the market “every day, each hour.”
The robot is compatible with NFA/FIFO regulations and does not utilize any martingale strategies. The approach is similar to other robots we’ve recently reviewed like Forex Lush, Hyper Bot VPS and Trend Profiteer.
- Type: Forex Robot
- Price: $109-$149
- Strategy: Support/Resistance
- Timeframe: H1
- Pairs: EURGBP
For traders interested in purchasing the FX Classic Trader, there are three plans available. All of the plans come with free upgrades, support and a lifetime license with no additional fees. The only difference in the plans is the price, and the amount of licenses. The Basic plan offers 1 demo account and 1 live account license for $109. The Business plan offers 2 demo accounts and 2 real account licenses for $129. Lastly, the Premium plan offers 3 demo accounts and 3 real account licenses for $149. The additional licenses come at a very low increase in price, so if you are the type of person that likes to test your software, you will be better off with Business or Premium.
The vendor provides a single FX Classic Trader account uploaded to the FX Blue platform. We prefer Myfxbook when it comes to verified results because they are more reliable, but that’s a conversation for another day.FX Blue – free tools and services for FX and CFD traders
The trading account provided is showing a gain of 131% over the course of 108 days. During this time the software average .6 trades per day, with a risk reward ratio of 4.91. The average trade length is 3.7 days, and the dradown is 49.8%, which means at one point half the account was at risk of being lost.
From what we see so far, the account is in good standing, but we would like to see the results uploaded to Myfxbook for a clearer look. There have been cases where vendors are able to manipulate the FX Blue platform, which we haven’t seen with Myfxbook. Providing both of these options would be a great way at putting our minds at ease.
There are a fair amount of areas that the FX Classic Trader developers need to put their time before this product is market ready. We feel they need to tell us who they are, so we can put more trust into their services. They should also hire a copywriter and a website designer if they want to compete in this market.
If you have any comments or questions, we would love to hear from you now.