FXQuasar Review: Does It Win or Lose?

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FXQuasar

FXQuasar is an FX robot from Forex Store having full compatibility with the MT4 and MT5 platforms. As per the vendor, this system is designed to boost your profits and lower the risk. This ATS works with all brokers regulated by the NFA. The vendor claims that you can use any account type for this FX EA as the system is designed to provide similar results regardless of the type you use. We can find verified trading results and backtesting data for this EA. However, the high drawdown in the results indicated a high-risk approach. Further, vendor transparency is not present making this an unreliable trading system.

What is FXQuasar?

Features of FXQuasar
Features of FXQuasar

As per the vendor, this FX EA has three main feature highlights that make it a profitable system:

  • The FX robot works with quotes directly and uses inbuilt algorithms for market analysis. Using the analysis of the price movements the EA decides on making the trade entry and the direction.
  • Trading sessions of two types are present. In the first type, three sessions are present that use long positions, while the second type uses 3 short trading positions. Every session works independently from the long or short position perspective. The independent working method allows the EA to make entries accurately when needed and make high profits. 
  • A special risk system is used that protects the account from big losses. This helps in securing investment and to recover the losses.

The vendor does not provide info on the timeframe, currency pairs, leverage, and other recommendations. We find the lack of info suspicious and is indicative of the unreliability of the ATS.

Official FXQuasar website

From our perusal of the website, we find the vendor does not reveal much info about the EA. Sections present on the site include the home page, information about the robot, stats, order information, and contact details. The entire content is present on the home page. Other than the mention of ForexStore at the beginning of the website, there is no other info present on the company like its founding year, location address, phone number, etc. The lack of vendor transparency raises a red flag for this EA.

How does FXQuasar work in MT4/MT5 terminal?

This MT4/MT5 compatible system works in independent sessions using a smart analysis and reliable risk control. Unfortunately, we could not find further info on the working method of this FX EA.

Pricing & refund

Pricing package of FXQuasar
Pricing package of FXQuasar

As an MT4/MT5 compatible tool, this FX robot is available for $279. The package includes a lifetime license of the FX robot, live and demo accounts, MT4 and MT5 versions, a detailed user guide, 24/7 technical support, and free updates. A 30-day money-back guarantee is present for the product. Comparing the price with that of the competitor systems currently available, we find this ATS is expensive and not worth the money.

Trading strategy

The vendor does not disclose the strategy used by this FX EA. There is a vague mention of the system using price momentum and internal algorithms for deciding the entries and exits. The lack of strategy info raises a red flag for this ATS. A few backtesting results are present for this EA. Here is a screenshot of one of the reports:

Backtesting report of FXQuasar
Backtesting report of FXQuasar

From the above report, we can see the backtesting was done in the AUDUSD pair using the H1 timeframe from 2015 up to 2021. For an initial deposit of $1000, the account had generated a total net profit of 3425803.93. A total of 1362 trades have been executed with a profit factor of 1.81 and profitability of 74.60%. The maximum drawdown for the account was 78.22%. From the high drawdown, it is clear that a high-risk approach was used. 

Current performance 

A live real USD account using the leverage of 1:500 on the MT4 platform verified by the myfxbook site is present for this EA. 

Growth curve of FXQuasar
Growth curve of FXQuasar
Advanced trading stats of FXQuasar
Advanced trading stats of FXQuasar

From the above stats, we can see the total and absolute profit percentages are similar at 533.9%. The daily and monthly profits are 0.36% and 11.52% respectively. A drawdown of 32.77% is present which indicates a risky approach. For a deposit of $2000, the account had completed 326 trades with a profit factor of 1.81 and profitability of 75%. 

The trading history reveals a lot size of 0.20 is used by the account. Comparing the backtesting result with real trading stats, we find the profit factor and profitability are similar, but the drawdown values differ. However, both results show a high drawdown indicating a risky approach.

What are the real customers saying about FXQuasar?

We could not find user reviews for this FX EA on reputed sites like FPA, Trustpilot, etc. The lack of feedback shows this is not a popular system among traders.

Summary: is FXQuasar a trustworthy EA?

FXQuasar
1.8 5 0 1
Our analysis of the various features of this FX EA reveals it is not a trustworthy EA. The lack of vendor transparency, failure to disclose the strategy, high-drawdown, and the expensive price are drawbacks that make this an unreliable EA.
Our analysis of the various features of this FX EA reveals it is not a trustworthy EA. The lack of vendor transparency, failure to disclose the strategy, high-drawdown, and the expensive price are drawbacks that make this an unreliable EA.
1.8 rating
1.8/5
Total Score
  • Strategy
    1.0 rating
    1/5 Awfully
  • Features
    2.0 rating
    2/5 Bad
  • Trading Results
    2.0 rating
    2/5 Bad
  • Reliability
    2.0 rating
    2/5 Bad
  • Pricing
    2.0 rating
    2/5 Bad

Like

  • It is a fully automated software
  • Verified trading results

Dislike

  • The strategy used is not disclosed
  • Trading results show a high-risk approach
  • Expensive price
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