FXCharger is a new Forex robot that promises to make traders 600% annually. The system is built to trade every day, includes an intellectual take profit and comes with settings that work for all levels of traders.
Today I’ll be taking a closer look at this Forex EA and discussing its pros and cons for the Forex Robot Nation community.
The FXCharger software is looking like a unique robot. The software calculates take profit based on the current situation the market. I’ve seen other expert advisors try to use technology like this unsuccessfully in the past. I’m interested to see if the charger robot can make it work, because if they can it would be a very adaptive software. The developers want to close orders quickly but in the same breath they tell us that they want to close orders within one to 4 days. That is an exactly the short trade in my opinion.
One of the main aspects of the software pushed by the developers is the stoploss limits. They tell us that our “account is safe even if you lose internet connection or MetaTrader 4 terminal turns off.” This type of protection is a positive, and what I expect from every Forex robot in 2016.
The FXCharger EA trades the EURUSD and AUDUSD pairs. Their most recommended is the AUDUSD because they feel it is the most reliable of the two. Both pairs are traded on the H1 timeframe and the developers have two active Myfxbook accounts showing their results.
I have to say that both of these accounts are very impressive at first glance. The EURUSD account has gained 446% while the AUDUSD account has gained 146%. The software generally has a handful of trades open as the average trade length is around 2 days.
I like what I see from their trading results and hope that real users can achieve the same success.
It’s been a couple years so we figure it’s time to check back in with FXCharger and see how the product is performing in 2019. The website is updated, and looking much more professional, which is certainly a plus.
They are also providing some pretty effective looking Myfxbook accounts. The main account, is showing a 2124.6% gain with a drawdown of 21.88% since it started on March 9th, 2019. The majority of the gains came in the first couple years, but the system is still showing consistent returns of around 2-3% per month. There are two other real accounts showing very similar gains. It’s surprising that with gains like these, that the software isn’t more popular.
Our additional research shows that despite the large gains, the client feedback is disappointing, with 4 of the 5 reviews we found claiming that it’s fraudulent. The vendor has not responded to any of these claims either, which is never a good sign.
Multiple reviews claim that that the ForexStore team are not providing refunds, and that one of the clients was even told that a margin call on his demo account “wasn’t enough.” These are obviously some discouraging discoveries, and we do hope that the vendor can clear the air on some of these issues.
As this is the first I’ve seen FXCharger I’m not going to give it the Forex Robot Nation seal of approval immediately. Obviously, I am impressed with what I see with their live trading accounts and they deserve praise for achieving that level of success. Yet, at $219 for a single EURUSD license I feel it’s better that I be mildly cautious with my review. I would like to see a real user account, or multiple real user accounts to see how this software is performing for real traders. I’ve found in the past that we can’t always trust vendor live accounts because they can easily be manipulated. So, I’m going to wait until I see more from the community before I give my final recommendation.
Please check back soon for the final verdict. In the meantime, I recommend you see what is currently rated the #1 Forex Robot here. There are many effective systems on the market right now, and I’m using two of them to grow my personal accounts on autopilot. If you have anything you would like to add, please leave a comment now.
- Client Feedback
- Customer Support
FXCharger is a Forex robot that promises sustainable use on multiple pairs with pre-determined SET files.
Live trading accounts
Poor client feedback
Lacking strategic discussion
False return policy