InvestGrail
  • Top FX EAs
  • Investing 101
    • Crypto
    • Options
    • Forex
    • Stock Market
  • Strategies
    • Day Trading
    • Swing Trading
    • Arbitrage
    • Investing
    • Options
  • Analysis
    • Technical Analysis
    • Fundamental Analysis
  • Reviews
    • Online Brokers
    • Forex Expert Advisors
    • Crypto Robots
    • Investing Apps
  • Top Articles
    • Best Forex Robots – Top 6 FX EAs 2022
    • Best Desktop Crypto Portfolio Trackers
    • Best 6 Forex Brokers That Accepts Crypto Deposit for Trading
    • The Best Copy Trading Platforms List: Pros, Cons and Comparison
    • Top 5 Best Coins to Mine for Beginners
    • Top 5 Best Gaming Crypto Coins to Participate
Forex Expert AdvisorsReviews

FXCONSTANT Review: Is This Forex Robot Profitable or Not?

by manager91 05/20/2022
05/20/2022

FXCONSTANT is an expert advisor from Forex Store promising profitable automated trading. It works mainly on the EURUSD and the AUDUSD pairs. The system is fully automated and works on the MT4 platform. It does not use indicators but relies on market analysis for accurate entries and exits. 

You can buy this FX robot for $295. The package includes one license of the EA for any account type, MT4/MT5 versions, a detailed user guide, the unlimited possibility of changing your account number online, and 24/7 technical support. A 30-day money-back guarantee is present.

Discover 10 Best FX EAs That Are Worth Investing

Is FXCONSTANT good?

The vendor offers backtests and real trading results verified by the myfxbook site for the FX EA. When compared to the market average, we find the price of the ATS is expensive. Other downsides we noted include the high drawdown in real trading and the big lot sizes used which indicate a risky approach that not many traders will be comfortable with.

Features of FXCONSTANT

Some of the key features of the FX Robot that make it competitive as per the vendor are:

  • Real verified trading results and backtests are present for proving the efficacy of the system.
  • It executes fast trades and offers full capital protection.
  • The ATS has 20 independent patterns that are matched with the existing market situation to identify accurate entries.
  • It is effective when used with other systems allowing a reduced drawdown overlap.
  • A trade management algorithm is used that differs according to the type of pattern activated. 
  • It works on the EURUSD and the AUDUSD pairs.
  • The ATS has been backtested for more than 7 years.

We could not find info concerning the recommendations for the EA such as the minimum deposit, the leverage, broker, etc.

Trading TerminalsMT4, MT5
StrategyMarket analysis
TimeframeN/A
Price$295
Money Refund30 days
Recommended DepositN/A
Recommended LeverageN/A
Money ManagementYes
Customer ReviewsN/A

What strategy does FXCONSTANT use?

As per the vendor, the FX EA uses the market analysis principle which is a proprietary approach. The strategy does not include the use of indicators. Instead, the EA uses special algorithms that analyze the price movement, and based on the price momentum, a corresponding pattern present in the bot is activated.

Backtesting vs live trading results

A few backtests are present on the official site with the normal and aggressive mode of trading. Here is one of the backtests:

Backtesting report of FXCONSTANT on the official site

From the above report, it is clear that the backtesting was done on the EURUSD pair using the H1 timeframe from 2012 to 2021. For an initial deposit of 200, a total net profit of 186664625.57 was generated with a profit factor of 1.55 and profitability of 52.41%. A total of 1824 trades were executed with a maximum drawdown of 26.08%. From the results, we find that the high profits denote good performance but the drawdown is a bit high indicating a certain level of risk was involved in the approach.

The vendor provides a real live USD account with the FXOpen broker using the leverage of 1:500 on the MT4 platform.  

Growth curve of FXCONSTANT on the Myfxbook site
Trading stats of FXCONSTANT on the Myfxbook site

From the above stats, we can see the EA has generated a total profit of 557.80% with a daily profit of 0.18% and a monthly profit of 5.61%. A drawdown of 33.99% is present. For a deposit of $1000, the account that started in July 2019 has completed 269 trades with 55% profitability and a profit factor of 1.53. From the trading history, we can see that the lot sizes used vary and are very high. From the big lot sizes and the high drawdown, it is clear that the EA uses a risky approach which correlates with our analysis of the backtesting report. 

The core team

Other than the mention of the official site being powered by Forex Store, we could not find info on the vendor, their location, contact details, etc. For support, the vendor offers an online contact form. 

End notes

End notes

FXCONSTANT assures a profitable and fully automated trading experience. Our analysis of the system reveals that while the profits are high in the backtesting report and the real trading results, the drawdown is high indicating a risky strategy. Further, the expensive pricing and lack of vendor transparency are other downsides that you need to consider before you decide on using this FX EA.

InvestGrail
  • Yield
    5
  • Reliability
    4
  • Trading Approach
    4
  • Consistency
    4
  • Customer Support
    4
The Goods
  • A fully automated software
  • Verified trading results
The Bads
  • High drawdown and big lot sizes are used in real trading
  • Expensive pricing
  • Lack of vendor transparency
4.2 2.1 5
Average Score
Discover 10 Best FX EAs That Are Worth Investing
Share
0
FacebookTwitterPinterest
previous post
Top 5 Best Lithium Stocks to Pick Up
next post
The Fund Trader Review: Is This Forex Robot Profitable or Not?

Related Posts

The 5%ers Review

08/18/2023

FundedNext Review

08/16/2023

Topstep Forex Review

08/14/2023

FTMO Review

08/12/2023

SurgeTrader Review

08/10/2023

Tech Trader Review

08/08/2023

Tickeron Review

08/06/2023

BlackBoxStocks Review

08/04/2023

Trend Spider Review

08/02/2023

Trade Ideas Review

07/31/2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

  −  1  =  2

Recent Posts

  • Man charged in New York with 3-week kidnapping to try to steal Bitcoin
  • Goldman Sachs Expert Predicts Significant Gold Price Surge by 2026
  • Second suspect in New York bitcoin kidnapping surrenders to police
  • Apple to debut dedicated gaming app within days of Nintendo Switch 2’s arrival
  • Satoshi Nakamoto, BlackRock, and TechBerry — a new investigation by Newsweek

Top Articles

  • The Best Copy Trading Platforms List: Pros, Cons and Comparison

    06/28/2022
  • Best 5 Silver Backed Cryptocurrency to Buy Right Now

    05/09/2022
  • Desktop Crypto Portfolio Tracker: Best 5 for Investing & Active Learning

    04/23/2022
  • Top 5 Best Coins to Mine for Beginners

    10/04/2021
  • Best Forex Robots – Top 10 FX EAs 2022

    10/04/2021

Categories

  • Analysis (17)
    • Fundamental Analysis (9)
    • Technical Analysis (8)
  • Investing 101 (112)
    • Crypto (66)
    • Forex (8)
    • Options (6)
    • Stock Market (32)
  • News (129)
  • Reviews (183)
    • Brokers (7)
    • Crypto Robots (26)
    • Forex Expert Advisors (138)
    • Forex Signals (2)
    • Investing Apps (9)
  • Strategies (90)
    • Arbitrage (12)
    • Day Trading (25)
    • Investing (18)
    • Options (13)
    • Swing Trading (19)
  • Top (7)
  • Uncategorized (5)
  • Home
  • Contacts

@2023 - All Right Reserved. Investgrail.com

InvestGrail
  • Top FX EAs
  • Investing 101
    • Crypto
    • Options
    • Forex
    • Stock Market
  • Strategies
    • Day Trading
    • Swing Trading
    • Arbitrage
    • Investing
    • Options
  • Analysis
    • Technical Analysis
    • Fundamental Analysis
  • Reviews
    • Online Brokers
    • Forex Expert Advisors
    • Crypto Robots
    • Investing Apps
  • Top Articles
    • Best Forex Robots – Top 6 FX EAs 2022
    • Best Desktop Crypto Portfolio Trackers
    • Best 6 Forex Brokers That Accepts Crypto Deposit for Trading
    • The Best Copy Trading Platforms List: Pros, Cons and Comparison
    • Top 5 Best Coins to Mine for Beginners
    • Top 5 Best Gaming Crypto Coins to Participate