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.
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 Terminals||MT4, MT5|
|Money Refund||30 days|
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:
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.
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.