FX Hunter is a Forex grid expert advisor, advertised as a generation new trading tool designed to “buy cheap, sell high”. The dev claims it is easy to achieve by ‘opening positions using signals of built-in indicators’, which frequently provide very accurate entries. The service has been available since 2008 and it is #1 reason to analyze this EA and determine its validity, reliability, and productivity in 2021.
How good this EA is and whether it is a wise investment opportunity, you will find in our detailed FXHunter review.
How FX Hunter EA Works
Their website presentation includes backtesting reports, live trading results, Contact and FAQ pages. There is very little information provided about the robot. There is no real information on the developers of the robot. We know nothing about their trading experience or what history they have in the Forex market. The one thing we know is that their servers are located in Germany and that they also provide a Russian version of their website. That makes us think that the developer’s location is most likely Germany or Russia.
To get in touch with support, you need to email [email protected] or fill out an online contact form with a text message on their website:
Let’s talk about the key features of this EA:
- The robot was designed with a “buy cheap, sell high” principle
- The built-in (which ones?) indicators allow the system to get very accurate entries
- All the open deals are grouped in so-called ‘baskets’ that are automatically closed when the TP level is reached (all orders in the cart have the same TP level, they change when a new order is added)
- Traders can easily open new levels of the basket either of the same or increased volume
- The robot is a good choice for both experienced traders and beginners
- Commissions are paid only from the gained profit
- The robot applies a ‘very thought-out martingale strategy’ in case entry is not accurate enough
- The dev says that Martingale with advanced methods of Grid control allows the system to trade successfully in any market condition
- The system comes with the risk management feature which allows a trader to trade with the desired trading risks to suit his own trading needs and preferences
- A maximum drawdown limit is recommended to be set
- The robot calculates the remaining amount of money before it opens a new order
- In case there are not enough funds on the trader’s account, the EA won’t open a new deal
- The dev also claims that the robot comes with regular updates of set files
On the FAQ page on their website, we have also found the following information:
- The robot is compatible mostly with all brokers
- It does not trade with NFA-regulated brokers
- The dev recommends trading under Alpari, Armada Markets, Roboforex, or IC Markets brokerage
- If you are going to open an account with a deposit of less than $5000, then you have to open a cent account and trade with brokers that support cent accounts (the vendor recommends Roboforex, Forex4you, TradeFort)
- ECN accounts are recommended to trade with FXHunter robot
The developers of this trading tool claim that FXHunter is a grid expert advisor that utilizes a ‘very thought-out martingale strategy’. We never recommend trading tools that apply Martingale. A few developers can admit that they apply Martingale for trading. Most traders avoid the trading systems that utilize this risky approach and one mentioning the word can turn traders away. In this case, FXHunter developers believe that this trading approach can allow traders to achieve success in any market conditions.
It is not a secret that the Martingale trading approach is too risky and dangerous for any trading account. It can easily ruin the entire trading account.
There are 6 backtest reports for GBPCAD, EURGBP, EURSGD, AUDCAD, NZDCAD, and AUDNZD currencies provided.
It is an AUDNZD backtest performed on the M5 timeframe. The modeling quality was 99.90%. The test started in 2008 and ended in 2016. With a deposit of 5000 dollars, the robot generated $27440.56 of profit. It traded 1743 trades and won 70, 51% out of them (1229 deals). The win rate for Short and Long trading positions was almost equal: 69.30% and 71.62%. The system traded with a high-profit factor – 2.18. The maximal drawdown was 23.62% ($6221.47). There were 6 consecutive losses.
FX Hunter Trading Results
Let’s have a look at the trading results of the live trading account provided on the official website of the developer. This Real (USD) account has been running on the MT4 platform since April 30, 2020. It works under Fort Financial Services brokerage and trades with 1:1000 leverage. It shows a gain of +63, 86%. Its monthly and daily gains are 4.22% and 0, 14% respectively. The peak drawdown was 18, 18%. As you can see, the trading activity is hidden. We can analyze neither the balance nor the profit charts. It’s a huge con.
The robot has placed 511 deals and won 353 out of them, which represents a win rate of 69%. The average loss in pips is higher than the average win: -49.39 pips and 25.12 pips. The profit factor is almost the same we see in the backtest report – 2.47.
Six currency pairs are traded on this trading account: AUDCAD, AUDNZD, EURGBP, EURSGD, GBPCAD, and NZDCAD. The most frequently traded symbols are NZDCAD (247 trades), EURGBP (94 trades), and AUDNZD (88 trades). The most profitable currency pair is EURGBP.
The highest trading activity is on Monday, Tuesday, and Wednesday. The robot trades with low risks to the account balance.
Lot size, TP, and SL are hidden.
From September 2020 up to the current days, the monthly profitability of the EA does not exceed more than 2,81%.
Pricing & Refund
There are 4 ways to access this EA, 3 of them are subscription options. A one-month subscription costs $29, a 3-month subscription is available for $69 (you save 20%), and a 6-month subscription plan is sold for $121 (you save 30%). All these packages include 1 license, free updates, support, and a 30-day money-back guarantee. There is also a lifetime membership offered for $500.
It is wise to subscribe to a 1-month package to test the EA and then decide whether to pay for a lifetime membership or not.
FXHunter EA has its page on FPA.
There is only 1 customer review. It is a negative one and was written 3 years ago.