Low investment and high profits always remain the staple deciding factors for an automated Forex trading system. FX Track Pro claims to be an expert advisor that gives the most profits with a small deposit. This system assures solid profits with low risks.
Focusing on a few select currency pairs this Forex robot maintains that the strategy it uses is effective in delivering profitable trades and low drawdowns. Are the claims of this automated Forex trading system true? Is it a reliable system or a scam? Read on to know what our experts have to reveal about this Forex robot in this comprehensive review.
How FX Track Pro EA Works
According to the vendor information, this automated system uses three different indicators simultaneously for its trading strategy. But, not all the indicators are used for deciding the entry point. The indicators are chosen depending on a specific algorithm. This enables the trading software to choose a suitable trading method that aligns with the existing market conditions.
Designed to work on six main currency pairs including EURUSD and EURJPY, the important features of this Forex robot include the use of the currency pairs simultaneously and a risk control system that protects your account from unwarranted losses. This MT4 and MT5 compatible system can work with any broker as well as the account type.
We could not find any information on the developer of this Forex robot on the official site. This lack of information makes it difficult to know about the reliability of this system. Other than the mention of Forexstore.com on the site, and a contact form the obvious lack of information raises a red flag.
Several backtests are provided on the site of which screenshots of two are shown below. All backtests are of three years duration and are done with 90% modeling quality. We would have preferred a 99.9% quality for the tests as this would provide more insight into the strategy used and the results produced. The drawdown percent is around 27 % for high, normal, and low-risk strategies. This indicates that risk levels are high in all three forms and need better optimization.
FX Track Pro Trading Results
Trading results for this Forex robot verified on the myfxbook site are displayed on the official website. From the live real account results, we noted a gain of 198% and a drawdown of 30.66%. The daily gain is 0.88% and the monthly profits are at 31.51%.
Traded from July 2020 this live account has used an initial deposit of $1000 and after 36 trades the balance stands at $2982. We’ve fouund the low number of trades and big lot sizes signs of a high-risk strategy. The duration of the trades is very high indicating the system is leaning more towards the long trades.
Pricing & Refund
Two different packages namely FX Track Pro and FX Track Pro Super are offered by the vendor. While the former costs $325 the latter costs $445. Both packs include a single license, MT4 and MT5 compatibility, free lifetime updates, and reliable 24/7 technical support. One main difference between the two is the number of currency pairs you can work on.
FX Track Pro works on three pairs while the Super pack is suitable for 6 currency pairs. Considering that this Forex robot has been working for less than a year, the price is exorbitant. Furthermore, the vendor does not offer a money-back guarantee which makes us suspicious of the reliability of this system.
We could not find any user reviews for this expert advisor system. Being a fairly new system, it is natural for the reviews to be minimal. But, a total lack of reviews on the official page and reliable sites such as Forexpeacearmy, Trustpilot, etc. makes us suspect the performance and trading results revealed by this Forex robot.