Low risk and significant profits are assured for traders who purchase FX Track Pro. Just as other automated Forex trading systems assure, this system also promises quick revenue generation in the market.
This system boasts of accomplishing quick earnings with three diverse indicators. Is this MT4 compatible software capable of the profits it assures, or is it a scam Forex EA? Read on to know more about the FX Track Pro forex robot.
FX Track Pro: Characteristics
According to the vendor information on the working method of this software, three different indicators are used. But, the system picks an apt indicator for determining the entry point using a definite algorithm.
The vendor claims that this flexibility has enabled it to trade efficiently, increase earnings, and limit the drawdown. There is no other information related to the strategy used, which is disappointing as we would like more clarity on the strategy.
Except for the mention of Forexstore, we were unable to find information on the systems’ creator or the location. This prevents us from assessing the dependability of the system. In relation to the features of this trading software, it is a multicurrency system using up to 6 currency pairs at a time based on the trader’s set up. Two versions working on the Metatrader 4 and Metatrader 5 platforms are available. Risk control involves using two protective maneuvers namely the stop-loss and online order analysis.
Currency Pairs, Strategy & Timeframe
This multicurrency Forex robot provides backtest data on its official site. Strategy tests provide a better perspective of the system. The results help confirm whether the system is profitable and reliable.
From the screenshot shown below, we could find backtesting done in the one-hour time frame using every tick model of 90% modeling quality. Taken for over three years, the backtesting shows a profit factor of 2.24.
FX Track Pro Trading Performance
Verified trading results are found on the official site. We analyzed one of the real accounts verified on the myfxbook site. From the screenshot of the trading stats, gain and absolute gain of 262% are shown with the daily and monthly gains being 0.715 and 25.75% respectively. And, a drawdown of 30.54% is shown, which is a bit high considering the low risk and high profits assured by the vendor.
A total of 74 trades have been executed over 6 months with a profit factor of 2.51. The average win arrived at 46.85 pips while the average loss was at 70.75 pips. We could see the lot sizes are huge which indicates a very high-risk strategy. Further, the short size of the sample also prevents us from delving more into the effectiveness of the system.
How much does it cost?
Two packages are offered, namely the FX Track Pro, which costs $325, and the FX Track Pro Super that is priced at $445. Both have MT4 and MT5 compatibility, free lifetime updates, 24/7 technical support, and a single license. The difference lies in the currency pairs the systems work on. While the FX Track Pro works on three currency pairs, the Super package works with 6 currency pairs.
Compared to the prices of other similar Forex robot systems in the market, the price of FX Track Pro seems too expensive. Even with verified results, such an expensive price tag is a negative factor that can work against this expert advisor.
Reviews from Customers
We could not find any user reviews for this expert advisor on reliable third-party sites such as Forexpeacearmy, Trustpilot, myfxbook, etc. Reviews from such reputed sites help us assess the authenticity and effectiveness of the system.
We also found that testimonials from users on the official page are also absent. From the lack of user feedback, it is clear that this system is not favored by traders, which confirms our suspicions about its effectiveness.
Should You Use FX Track Pro Robot?
|Verified Trading results||The strategy is not explained clearly|
|Money-back guarantee of 30 days||Vendor transparency is absent|
|Trading results do not indicate low risk and high-profit strategy|
Summing up our FX Track Pro review, the expert advisor does not measure up to the assurances it offers. The absence of vendor information and the strategy not explained clearly are two negative points that make us suspicious of the credibility of the system.
The live trading results of the system demonstrate high lot sizes, which indicate a high-risk trading strategy. Another big shortcoming, we noticed was the pricing which is way too high.
Given the fact that the vendor does not measure up well in the aspects mentioned earlier, the expensive price tag makes the situation worse when it comes to trusting this automated trading system in Forex.