FXClassicTrader Review

FXClassicTrader

FXClassicTrader is a Forex robot that opens and closes trades through the MT4 trading platform. The vendor claims that this system protects your portfolio from unexpected disruptions. They also claim that this system is a result of thousands of hours of development and testing.

This is an NFA and FIFO compatible system that runs on all brokers. It uses a non-martingale system and a special trading algorithm that tells it when to open and close trades. 

Unfortunately, we don’t have enough information on the developers behind this Forex robot. The vendor has not shared the physical address of the company headquarters, so we don’t know where it is based. It becomes difficult to trust this system due to the lack of vendor transparency.

FXClassicTrader at a glance 

Price $109
Trading Platforms MT4
Currency PairsEUR/GBP
Strategy Swing trading
TimeframeH1
Recommended Deposit $200
Recommended Leverage1:100 to 1:500
Money ManagementYes

FXClassicTrader functionality 

FXClassicTrader is a fully-automated system with a smart money management system. The vendor has not clearly explained the latter, but we can assume it has something to do with the automatic calculation of trading lots. 

To trade with this EA, you must sign up with an MT4 compatible broker with a low spread. The minimum leverage is 1:50, but the vendor recommends using 1:100 to 1:500 leverage. Also, you should use a minimum balance of $200 per 0.01 lot and the brokers should have a 5 digits price feed. In case you don’t have a decent computer or a fast internet connection, you need to use a VPS server. For the robot to work properly, you need to keep the robot running 24/7.

FXClassicTrader trading strategy tests 

This EA trades the price swings between support and resistance levels. It uses an indicator for analyzing the market, but we don’t know what it is. The vendor has explained the trading strategy in a vague manner and this is not a sign of a reliable system. Many traders look for in-depth strategy insight and they might not feel too eager about investing in this EA.

Oddly enough, the vendor has not shared the backtesting data on the official website. This means they are not too eager to reveal the historical test results of the automated strategy. 

What about FXClassicTrader live trading results 

Growth chart of FXClassicTrader
Growth chart of FXClassicTrader

This account on FXBlue has a short trading history of 137 days. It is difficult to objectively assess the performance of the robot from these results. To date, the EA has conducted only 36 trades through this account. It has won 26 out of them, which means it has a win rate of 72.2%. 

The weekly and monthly returns for this account are 4.8% and 21.9%, respectively. FXClassicTrader has generated a total profit of ¥991.43. The risk of ruin for this account is a bit high at 2.27. 

Price 

Pricing plans of FXClassicTrader
Pricing plans of FXClassicTrader

There are three pricing plans for this EA, namely Basik, Business, and Premium. The prices for these plans are $109, $129, and $149, and they provide you with 1, 2, and 3 real account licenses, respectively. There is no mention of a refund policy.

User reviews 

 At this moment, there are user reviews for this EA on websites like Trustpilot, Forexpeacearmy, Quora, and Myfxbook. This is hardly surprising since it is risky to invest in an EA that has such a short trading history.

FXClassicTrader Review Summary

FXClassicTrader
2 5 0 1
At the end of our review, we have reached the verdict that FXClassicTrader can not be trusted. First of all, we know nothing about the developer company. They haven’t explained the strategy properly and the live trading account has not been active for too long. Also, not many people are using this system as of now, since there are no reviews to be found.
At the end of our review, we have reached the verdict that FXClassicTrader can not be trusted. First of all, we know nothing about the developer company. They haven’t explained the strategy properly and the live trading account has not been active for too long. Also, not many people are using this system as of now, since there are no reviews to be found.
2/5
Total Score
  • Functionality
    2/5 Bad
    This robot does not have any special or unique features that set it apart from other expert advisors on the market.
  • Trading strategy
    2/5 Bad
    FXClassicTrader uses a swing trading strategy, but the vendor has failed to properly explain it.
  • Live results
    3/5 Neutral
    The live account for this robot has only been active for 137 days, which means we cannot get a clear idea of the performance.
  • Customer support
    1/5 Awfully
    The vendor provides support only via email and there is no live chat feature available.
  • User reviews
    1/5 Awfully
    Clearly, the EA lacks reputation, since there are no reviews on third-party websites.

The Good

  • Verified trading results

The Bad

  • Short trading history
  • No refund policy
  • Lack of strategy insight
Total
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