FXClassicTrader claims to offer a swift and effective business solution for trader accounts on MT4. It is a fully-automated system claiming to use a risk-free strategy, thus preventing unforeseen disruptions in your trading portfolio.
There is virtually no information on the parent company behind this robot. We don’t know when the company was founded or where it is located. The vendor has not revealed the identities of the traders and developers. Also, we don’t know if the company has manufactured other Forex EAs in the past.
FXClassicTrader strategies and tests
This is a 100% automated system with a smart money management system that trades in EUR/GBP. It follows FIFO rules and is compatible with all brokers that support MT4. The vendor offers lifetime support and verified trading statistics. You need to run the EA on a low-spread broker with minimum leverage of 1:50. However, it is recommended that you use minimum leverage of 1:100 to 1:500.
This EA has a five digits price feed. For optimum results, you should use a minimum balance of $200 for every 0.01 lot. In case you don’t have a fast internet connection or a high-end computer, you should use a VPS. The EA must be left on 24/7 for it to work properly.
FXClassicTrader trades the price swings between support and resistance and performs indicator analysis calculations on a daily basis. It has a special trade algorithm and is able to figure out when to open and close orders. The robot has a trade management system that, as per the vendor’s claims, is designed to minimize losses and maximize gains. It avoids using risky trading strategies like martingale. The vendor recommends testing the EA on a demo account prior to using it for live trading.
To run the EA on MT4, you need to access the MQL4 folder located inside the Data Folder. Then, you need to copy the EA files from the archive into the data folder. After restarting your MT4 terminal, you need to attach the HTML clipboard FXClassicTrader.ex4 file to an H1 chart for EUR/GBP. Also, you need to make sure that Auto-Trading is enabled on MT4.
EA vendors usually test their automated strategies using historical data. Unfortunately, there are no backtesting results available for this expert advisor.
FXClassicTrader live trading account review
This live trading account on FXBlue has been active since July 2021. To date, it has had 246 trading days, during which it has conducted only 75 trades. It has won 55 of the trades, maintaining a high win rate of 75.3%. However, we must remember that the results are based on a very small number of trades.
The total profit for this account currently stands at 1,884.46 CNH. While the weekly and monthly returns are quite satisfactory at 3.5% and 15.6% respectively, the risk/reward is a bit high at 2.34. This tells us that the EA uses a high-risk strategy.
Here you can see the recent trades conducted through this account. We can see that the EA has a low-frequency trading style. The average trade length is 5.4 days, and the average number of trades per day is 0.3.
There are three affordable pricing plans for this EA, namely Basik, Business, and Premium. All of them are lifetime plans and the prices are $109, $129, and $149, respectively. The difference between the plans is the number of real and demo accounts they give you access to. Unfortunately, the vendor does not entertain refund requests.
Is FXClassicTrader a good system to rely on?
This EA has a very short trading history, in spite of having a high win rate. We have zero information on the developers behind this system. Although the plans are affordable, there is no money-back guarantee.
There are no reviews for this EA. However, on the Forex Peace Army, there are two trading accounts, one active and the other closed. The active account has a gross profit/loss of 165.81%, indicating steady growth.
There is an official email address through which you can get in touch with the support team.