Thorex wants to help you beat the Forex market. It combines 15 separate EAs into a single master EA. You are allowed to run any combination you desire to develop your own portfolio and risk, thanks to the flexible settings the system comes with. The vendor maintains and updates it constantly through MQL5 for best performance.
How Thorex works
Find below a summary of the system’s features:
- Trades on many currency pairs, including AUDCAD, AUDUSD, CHFJPY, EURAUD, EURGBP, EURJPY, EURUSD, GBPAUD, GBPCAD, GBPJPY, GBPUSD, USDCAD, and USDCHF.
- The minimum recommended balance is $250, while the recommended leverage is 1:30.
- IC Markets or other brokers with low spreads are recommended.
- The robot works on MT4 and MT5 accounts.
- It secures every trade with a tight loss of 17 to 88 pips.
- No night scalping, grid, entry averaging, or “recovery trades” are used.
Thorex was created by Lorenz Vauck, a developer based in Germany. He has 6+ years of trading experience and has developed only two products for the Forex market, and that is, Thorex for both the MT4 and MT5 versions. According to his portfolio, Lorenz has zero subscribers and 4 published signals.
Applied strategies
The vendor does not disclose the exact trading logic his robot uses. He only tells us that all the strategies incorporated into it trade independently, can be turned on and off, and have uncorrelated daily profits/losses.
The stats above prove that the workability of the EA’s strategies were backtested. However, we don’t know what timeframe, currency pair, or market data was used since this info is missing.
Moving on, the system used an initial deposit of $10000 to execute a total of 50194 trades. The resulting win rates for short trades (64.36%) and long trades (64.82%) were average and uninspiring. A total net profit of $237042.90 was realized in the end. The profit factor was 1.59, while the drawdown was small at 0.67%, meaning that low-risk trading was employed.
Thorex trading results
Thorex began trading on this account in January 2022 after it was deposited at €200. Unfortunately, the EA has a low monthly profitability rate of 0.65%. So, it has only managed to earn the user €5.96, increasing the account’s value by a mere 2.97%. Trading risks are very high as we already have a large drawdown of 31.84%.
There are 536 completed trades that have an average profitability rate of 59%. The pips won are 347, while the commissions paid are €21.46. There’s a profit factor of 1.01, which shows that the return on investment is average. The best trade has made a profit of $6.69 and the worst one has led to a loss of -$8.11.
The EA’s risky trading activities threaten to wipe out this account. If it loses 10 trades in a row, then 10% of the account will be gone.
January was the only month that brought in significant amounts of profits. May has suffered immense losses, substantially reducing the gains made in previous months.
Pricing & refund
Thorex offers several pricing plans. For one, we have a lifetime option that costs $459. But to use the product temporarily, you may have to rent the quarterly plan at $196. Biannual and yearly packages are also available at $314 and $433, respectively. Unfortunately, none of the subscriptions feature a money-back guarantee.
Other notes
So far, all the traders who have commented about this EA on MQL5 have good things to say about it. They state that the system is awesome and very promising. The author is also commended for being supportive and helping customers achieve their goal.
