FX Condor Review (Copy Trade Strategy)

FX Condor is a an automated Forex robot and copy trade signal service, claiming to provide up to 150 trades per month in the MT4/MT5 platform. They advertise the software as “an entire Forex trading portfolio in one powerful system that can give you the trading action, and winning trade potential, you’re looking for.” Today we will be providing a full review and analysis to let you know if this service is truly providing viable signals or not.

The service first hit the market, 10-11-2019, so it’s only been around for around 140 days as we write this review. At this time, there is no information provided about the developers of the service, their location, or their trading history in the Forex markets. With systems like these, it’s very important to know who the creators are, so that we can judge whether or not they are skilled enough traders to trust with our own accounts. We find there are way too many developers hiding behind sales pages, and not introducing themselves to the community which is a major concern.

There doesn’t seem to be an email address or contact form located on the website either, so we are unsure of how you can get in touch. Maybe after purchasing you get access to an email address, but they should have some sort of contact presales questions. This is a very basic aspect to be missing.

FX Condor Review

Despite being released just a few months ago, the FX Condor website uses a design style that was popularized in the early 2000’s. This is not a very professional aesthetic, which isn’t really much of a surprise considering the first impressions we are getting from this vendor. The classic sales page design is filled with mostly fluff information, instead of real details about the software.

The vendor has 2 goals that they wish to achieve with this software:

1. Deliver winning trades in full automation, while still leaving traders in control of their accounts.
2. Condensing each clients equity curves by totaling 100 to 150 trades per month.

Historically, vendors that offer this many trades overextend themselves and” losing more than they win. This doesn’t mean that they haven’t created a best Forex robot service utilizing this method, but it’s certainly less likely.

Strategy

The foundation of the FX Condor strategy is that the creators combined 12 systems together in order to multiply the potential returns. They feel that this diversification is the perfect way to limit risk and increase monthly gains to “total nearly 24% to nearly 60% returns.“

This all sounds good, but the vendor doesn’t actually give us real details about their general methodology. While they tell us that they have combined 12 systems, they don’t tell us the strategy of any of those systems, so it’s very difficult to trust that they are all programmed well. This information should be provided, and hopefully after the vendor reads our review they see that this is a logical critique, so they fix it.

Analysis

• Type: Forex Robot / Copy Trade Signals
• Price: $47/month
• Strategy: 12 Systems
• Timeframe: H1
• Pairs: AUDUSD, EURAUD, EURCHF, EURGBP, EURNZD, EURUSD, GBPJPY, GBPUSD, NZDCAD, NZDCHF, USDCAD, USDCHF

For traders interested in the FX Condor robot, it can be purchased for $47 per month. With this purchase comes the trade copier, a video tutorial, a 25 page PDF manual, and technical support via email. The system also comes with a 30 day 100% satisfaction guarantee, so it doesn’t suit your needs you can get a return during that period.

Results

In terms of trading results, the vendor provides a single screenshot of their charts. In this image, the FX Candor software won 45 out of 53 trades, for an 84.90% win rate, and 326 pips in profit. While this is an impressive image, it only proves that the software works, but not that the software is profitable.

A single screenshot fails to represent the market over a long enough period of time for us to judge. In this example, the vendor could easily be cherry picking the trades they are showing us, and that’s very likely what’s happening here. Considering the system is built to provide nearly 150 trades per day, a sample size and 53 trades tells us nothing.

If this vendor wants to be taken seriously, and wants to charge a monthly fee of $47, they need to provide verified trading results. Every Forex robot vendor that is competing in this market provides verified results, as you can see in our recent reviews of Vantage Point X, Renko Scalper EA and FX-Neuro Bot.

Conclusion

At this point in time, we see no reason for traders to sign up with the FX Condor signal system. The website lacks professionalism, they have no support email address, they have little strategy insight and no verified trading results. Until they sort out all of these critiques, we won’t be able to recommend this service to any of our readers.

If you have anything you would like to add, please leave your comments below the article now.