A Forex EA that claims to bring consistent profits through automated trading on a daily basis, FXCONSTANT is backed up by trading statistics verified by a reputable third-party website. It is a robot that promises swift trading while employing special protective measures to shield your capital from unprecedented losses. This system has also been backtested for a time period exceeding 9 years.

FXCONSTANT: Characteristics

This Forex EA applies advanced market analysis principles and does not take the help of any indicators, unlike most of the other robots on the market. The developers have created a specialized algorithm in order to assess the price shifts of a currency pair. Based on how the price moves, the robot activates the suitable pattern.

It has 20 distinct patterns, and these are compared to the present market scenario on a consistent basis. Each of these patterns has certain instructions coded into them, and if they are in sync with the market behavior, the said pattern is activated, and the EA places a trade in the proper direction.

Every pattern has a distinct algorithm that allows it to manage the trades placed by the robot. These algorithms specify the opening and closing of trades, as well as the direction in which they are placed. The vendor mentions that in order to maintain safety and accuracy, sometimes only a handful of orders are placed in a particular month. Apparently, this allows the robot to keep the drawdown to a bare minimum when used in tandem with other EAs.

Currency Pairs, Strategy & Timeframe

FXCONSTANT mainly trades in the EUR/USD currency pair. At the moment, it is unclear what strategy it uses, since the vendor has not provided an explanation for the same on the official website. Although it is mentioned that the robot uses 20 algorithms for market analysis, we don’t know the nature of these algorithms and how they work. 

Seasoned Forex traders always look for some kind of strategy insight before purchasing a Forex robot, and these include some technical details. The absence of strategy insight may be taken as a red flag by some of these individuals. 

FXCONSTANT Trading Performance

FXCONSTANT backtest

This backtest was conducted for the EUR/USD pair starting from January 2012 to March 2021. There were a total of 1824 trades placed during this time period, out of which the robot won 956. This means the system had a modest win rate of 52.41% for this backtest.

The initial deposit made for this test was $200, and the total net profit generated was $186664625. There were 12 maximum consecutive wins and 9 maximum consecutive losses. Here, we must mention that the drawdown for this backtest was 47.49%, which is incredibly high. Most Forex traders won’t consider investing in a robot that has such a high drawdown, in fear of suffering sizeable losses. 

FXCONSTANT Myfxbook

 This live trading account for FXCONSTANT was launched on 18th July 2019, and to date, 146 trades have been placed through it. Out of these, 82 have been won, which represents a win rate of 56%. We must say that it is difficult to gauge the profitability of a robot based on just 146 trades. Nevertheless, a total net profit of $3577.28 has been generated through this account.

Presently, the daily and monthly profits for this account are 0.23% and 7.79% respectively. Compared to the backtest, the drawdown is quite low at 7%. The profit factor for this account is 1.65, which is not spectacular, but still pretty satisfactory. 

How Much Does it Cost?

FXCONSTANT can be purchased for a price of $295, which is not exactly cheap compared to other Forex EAs. After making your purchase, you would get access to a single license for any type of account, the proper software versions for MT4 and MT5 platforms, as well as a user manual detailing all the specifics about the EA. 

Each customer has access to reliable technical support, on a 24/7 basis. The vendor provides a 30 days money-back guarantee for this product, so you can always ask for a refund if the performance is below par.

Reviews from Customers

We were unable to find any user reviews for this Forex robot on the popular review websites. We think not enough people are confident about using this system as of now, owing to its short trading history. 

Should You Use FXCONSTANT Robot?

ProsCons
Verified live trading results High drawdown in backtest
Money-back guaranteeShort trading history
Lack of strategy insight

Conclusion

Although the vendor shares the verified performance statistics for FXCONSTANT, we can notice a high drawdown in the backtest, which tells us that there is a significant risk of loss while trading with this robot. Although the live trading results show a lower drawdown, it is only based on a handful of trades, so we cannot attach too much importance to it.