FXConstant Review

FXConstant is an expert advisor from the Forex Store site. It works on the EURUSD pair. As per the vendor, this FX EA can provide daily profits with its robotic system. Protection of customer capital, fast trading, and real stats are the key features the vendor focuses on for this EA. 

We could not find info on the developer or the team responsible for the creation of this ATS. There is a total lack of details like founding year, other products, team member info, location address, phone number, etc. The absence of info makes us suspect the trustworthiness of the company. For support, the only method available is an online contact form. We find this inadequate and suspicious.  

FXConstant at a glance

FXConstant functionality

As per the vendor, this FX EA analyzes the market using a proprietary algorithm. It does not use indicators. The proprietary algorithm identifies the price movement. Based on the specific movement, the EA will activate a related pattern. There are 20 independent patterns present for this ATS, which help to compare market conditions. When a pattern matches a specific market condition, the EA opens trade in that direction. Algorithms for managing trades are present for each pattern. Actions like the closing of a trade, direction of a trade, etc., are controlled by distinct algorithms.

FXConstant trading strategy tests

A few backtesting results based on the trading style are present for this FX EA. Here is the backtesting report for the aggressive trading mode of the FX robot.

From the above report, we can see that the backtesting was done from 2012 to 2021. The test used the H1 timeframe and had a modeling quality of 90%. For an initial deposit of $200, the EA had generated a total net profit of 186664625.57. A profit factor of 1.55 and profitability of 52.41% was present. For a total of 1824 trades, the maximum drawdown was 26.08%. The results reveal a high drawdown and low profitability indicating a risky strategy and ineffective performance.

What about FXConstant real trading results?

What about FXConstant real trading results?

The vendor provides a real USD account trading result using the automated method and the leverage of 1:500 on the MT4 platform. This account verified by the myfxbook site reveals a total profit of 389.03% and an absolute profit of the same value. The daily and monthly profits are 0.19% and 6.21% respectively. A drawdown of 17.76% is present for the account that started in July 2019 with a deposit of $1000. For a total of 166 trades executed, the profitability is 55% and the profit factor is 1.57. From the trading history, we can see the lot sizes differ ranging from 0.10 to 1.34. The big lot sizes, high drawdown, and low profitability are similar to the backtesting stats signifying the risky approach and ineffective performance of the system.

Pricing

For using this EA, you need to shell out $295. The package includes a single EA license for any type of account, a detailed user guide, 24/7 technical support, and the ability to change account numbers an unlimited number of times. The FX EA works on the MT4 and MT5 platforms. A 30-day money-back guarantee is present for the product. When compared to other similar EAs in the market, the price of this FX robot is expensive.

User reviews

We could not find feedback for this FX robot on trusted review sites like Forexpeacearmy, Trustpilot, etc. Such sites provide unbiased reviews of the efficacy of the EA. The lack of user testimonials reveals this is not a popular expert advisor.