FXClassicTrader is a Forex expert advisor that is compatible with the MT4 trading platform. As per the developer’s claims, this EA does not put your trading account at high risk, unlike other systems. It is supported by verified trading results and has a healthy win rate. However, it suffers from a lack of vendor transparency and there are no user reviews of third-party websites.
What is FXClassicTrader?
This is a 100% automated trading system with smart money management functionality that only trades in EUR/GBP. It follows FIFO rules and is compatible with all brokers. The broker must offer a low spread and the minimum leverage should be 1:50. However, the vendor recommends trading with leverage of 1:100–1:500.
The robot has a 5 digits price feed, and this makes it easier for traders to follow the prices. You should not trade with a balance of less than $200. It is recommended that you use a VPS in case you don’t have a decent internet connection or computer. FXClassicTrader must remain active 24/7 in order to run properly.
Official FXClassicTrader website
The vendor makes a detailed presentation on the official website, explaining each feature in detail. We have the trading logic, along with the live trading results and the backtesting data. They have also shared the setup instructions for MT4 and the pricing details.
Unfortunately, there is little or no information about the developers behind this EA. We don’t know when the parent company was founded or where it is based.
How can we use FXClassicTrader?
You run this EA on MT4, you need to open the trading terminal, open the Files menu and access the Data folder. You need to copy the EA files into the data folder and then restart the MT4 terminal. After that, you ought to attach the .ex4 file to an H1 chart for EUR/GBP. Also, you need to enable Live trading in common settings. You can leave the default values or set your own values. For the EA to work, you must enable AutoTrading in MT4.
Pricing & refund
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 come with one, two, and three real and demo accounts, respectively. The plans are affordable but there is no money-back guarantee offer for any of them.
This EA trades price swings between support and resistance, while also performing indicator analysis calculations on a daily basis. It analyzes the market every hour, each day of the week, deciding when to open and close trades.
For this backtest, the EA conducted 429 trades between 2017 and 2020. It used an every tick model and modeling quality of 90%. Out of 429 trades, 369 were won, which means the win rate was quite high at 86.01%. The relative drawdown was a bit high at 20.45%, and this indicates a risky trading strategy.
Here is a live account on FXBlue that has been conducting trades since July 2019. To date, the EA has only had 240 trades, during which it has closed only 72 trades. The sample size of trades is too small for us to gauge the system’s profitability. Compared to the backtest, the win rate is slightly low at 72.7%, but it is still quite impressive. The total profit generated through the account currently stands at $1508.48.
On average, the EA conducts 0.3 trades per day, which means often there are large time gaps between trades. The average trade length is 5.6 days, which hints at a long-term strategy. We can see from the trading history that there have been steady profits for this account.
What customers say
There are no user reviews for this EA. On Forex Peace Army, there are two accounts, one of which has been closed. The active account has a gross profit/loss of 165.81%, which means the performance has been impressive so far.
Summary: is FXClassicTrader a trustworthy EA?FXClassicTrader
Trading Results3/5 Neutral
- Verified trading results
- No money-back guarantee
- Lack of vendor transparency
- No user reviews