FXTrends Review: The robot is a scam

FXTrends is a service company that provides copy-trading features for everyone to follow. The presentation welcomes us with a screenshot of the past success and the statement that  it’s “The Best Forex Copier ever.” There’s even a video recorded to convince us of this.

FXTrends Strategies and Tests

There are six of the most important features mentioned – the rest we have to look at ourselves:

• The traders behind the company have over ten years of trading experience.
• There were 100,000 pips provided. This information isn’t proven.
• We can copy trade signals from the master account to ours.
• The system will work automatically on the terminal after installing.
• We can expect to get over 2000 pips monthly.
• The number of trades is 15 signals a day.
• The accuracy rate should be 90%.

• There are screenshots provided of how to set the copy trading software.
• The risk can be in the 0-200% range.
• We have to run an account with $200.
• Copy-trading software can work on the MT4 and MT5 platforms.
• We have to work on an ECN account only.
• The risk should be not higher than 1% to balance for each open order.
• We have no backtest reports published. So, they can use someone’s robot to spread signals.

FXTrends Live Trading Account Review

It was their previous account. As you can see, the trading results look sad.

The link the devs provide on their website to show us the trading results of FXTrends does not work. They have decided to delete it  right after it has reached a loss of -99, 79%. We’ve found another trading account that most likely belongs to FXTrends. Let’s talk about it. The robot works on the real account on FXOpen. The leverage is 1:500. It works on the MT4 platform. The account has a verified track record and verified trading privileges. It was created on March 03, 2020, and deposited at $8,100. Since then, the absolute gain has become 196.48%. An average monthly gain is 7.92%. The maximum drawdown is 64.31%. We haven’t seen on the chart that deep drawdowns. So, some of the data were removed.

FXTrends has closed 198 deals with 4,662 pips. An average win is 36.91 pips when an average loss is -36.59 pips. The accuracy rate is between 82% for Longs and 81% for Shorts. An average trade length is four days. The Profit Factor is 7.39.

It works with many symbols, but the most traded is EUR/CAD when the most profitable is GBP/USD – $2589.

It works during European trading hours.

The robot trades equally during the week.

The advisor runs the account with low risks. The system has to lose 45 deals in a row to lose 10% of the account.

The last 20 deals were profitable.

The robot provides little profits month to month. 

Pricing

The offer costs $29.99 instead of $59.99. There are the following features: 100% automated executing, 2000 pips monthly, verified trading results, educational channel, trading courses, access to Forex and Indices signal channel, 90% accuracy rate, quick setup, and 8-19 trades daily.

Is FXTrends a scam?

We have no right answer. Trading results look okay, but there are some blown accounts in the past.

People feedback

We have only positive comments on the site, which are there for years.

FXTrends created a page on Forex Peace Army. There are only two reviews. It’s nothing for a long-lived service.

We can’t be sure the first positive comment is not a scam because any real clients mention the price. It’s nonsense. It sounds so marketing.

Summary