Today in this FX Classic Trader review, we are talking about a relatively new expert advisor (launched at the beginning of June 2020), promising to provide ‘best business solutions’ for traders. The devs say that they offer quick and powerful business solutions for MT4 accounts. It is a 100% automated system, designed to work on the MT4 platform. They claim that with FX Classic Trader traders’ portfolios won’t suffer any unexpected disruptions. Well, is the system as effective and good as the developers claim? What do we have to expect when trading with this Forex robot? Keep on reading to find out the answers.

FX Classic Trader: Characteristics

We would like to start with a website presentation. It is poorly organized and has plenty of spelling mistakes. The developer needs to hire a good content writer with much better English to write a good quality website content, because what we see on their website has nothing in common with professional approach:

FX Classic Trader Characteristics

The team behind this EA introduced the main features of FX Classic Trader:

  • It is a 100% automated EA that works on the MT4 platform
  • The EA automatically opens, closes, and modifies trades
  • Makes sure that trader’s portfolio does not suffer any unexpected disruptions
  • Includes smart money management system
  • Compatible with all brokers
  • NFA and FIFO compatible
  • Full-time customer support
  • Uses a unique trading algorithm
  • Does not use Martingale
  • Decides when to open or close a trade
  • Analyzes the market ‘every day, each hour’
  • Recommended leverage is 1:100 – 1:500
  • 5 digits price feed
  • The minimum balance to start trading should be at least $200/ 0.01 lot size
  • In case you do not have a good Internet connection, VPS (Virtual Private Server) is recommended

Currency Pairs, Strategy & Timeframe

The one thing we know is that their robot does not use Martingale and has a unique trading algorithm.

FX Classic Trader Strategy
FX Classic Trader Strategy
FX Classic Trader Strategy

The robot decides when open and close trades, analyzing the market condition hourly. This EA was designed to work on the MT4 platform and trade only EUR/GBP on the H1 timeframe.

FX Classic Trader Trading Performance

There is a backtesting report on the FX Classic Trader website:

FX Classic Trader Trading Performance
FX Classic Trader Trading Performance

The backtesting started on January 2, 2017, and ended on March 30, 2020. The robot traded EUR/GBP on the H1 timeframe with a 90% modeling quality. An initial deposit was $499. For 3 years of testing, the EA has brought over $783K of the total net profit. The average win was $2295, while the average loss was significantly higher $-9124. The peak drawdown was 14, 78%. The profit factor was high and equaled 13, 23. For three years and 2 months of trading, the robot has closed 429 trades with 85, 64% win rate for short positions, and 86, 34% win rate for long positions.

The devs provide the live trading result on their website:

FX Classic Trader website

This account was added on fxblue on June 7, 2020:

FX Classic Trader fxblue

This is a Real USD trading account deposited at $3,227. There is much free margin, so the margin level is 2,159.6%. For 7 months of trading, the total gain has grown up to 252.13% with a monthly gain of 20.49% and a weekly gain of 4.54%. Now, its balance equals $13 532 with $10 305 of the closed profit.

FX Classic Trader fxblue
FX Classic Trader trading results
FX Classic Trader fxblue

The peak drawdown was only -1.8%:

FX Classic Trader fxblue

As you may see on the screenshot above, the robot trades smoothly and predictably. The robot has traded 185 trades with an average trade win of 67.6% (won 125 trades).  An average trade frequency is up to 0.7 trades per day. The average win ($157.20) equals the average loss ($-155.75). The average trade length is 2.4 days. Its profit factor is much less than the one on the backtest (2.10).

FX Classic Trader trading results

The robot trades both directions equally by Profit Factor and Win-Rate.

FX Classic Trader trading results

The system uses only 1 strategy for trading:

FX Classic Trader trading results

It trades only 1 currency pair as it should be:

FX Classic Trader trading results

It trades daily, from Monday to Friday. The most profitable days for trading are Tuesday ($2, 852.47; 2,18 Profit factor), Thursday ($2, 662.27;2, 63 Profit factor), and Friday ($2, 820.19; 3, 80 Profit factor).

FX Classic Trader trading results

How much does it cost?

The robot was introduced it 3 different packages:

FX Classic Trader price
  1. Basik (what? Even the name of the package has a spelling mistake)

It is a lifetime package, which costs $109. It includes 1 Read and 1 Demo account.

  1. Business

It is available to buy for $129. It includes 2 Real and 2 Demo accounts.

  1. Premium

The Premium pack costs $149. It comes with 3 Demo and 3 Real accounts.

Unfortunately, there is no word mentioned about the money-back guarantee. It looks suspicious. So, if we invest our money in this EA will we be able to ask for a full money refund in case we find the EA unprofitable? Why is this sort of info undisclosed on the sales page of the developer?

Reviews from customers

FX Classic Trader has an account on the Forex Peace Army website. However, it has a zero-rating and no customer review.

FX Classic Trader Reviews from customers

Should You Use FXClassicTrader Robot/EA?

ProsCons
Backtesting results providedLack of vendor transparency
Live trading results providedUndetailed trading strategy
Affordable pricePoorly organized website
 No customer review
 No money-back guarantee

Conclusion

Wrapping up our FX Classic Trader review, we would not recommend this robot to the public. Firstly, the website is poorly organized and is difficult to read because of a bunch of spelling mistakes. Secondly, we are not provided with detailed trading strategy info. Although the price is not high, the absence of customer reviews and a money-back guarantee are the factors that do not allow us to say that this EA is worth trying. We are not ready to risk money and rely on the vendors who failed to disclose  their identity and headquarter location.