Promoted as the only EA that money managers and professional traders use, Forex Trend Detector claims to use an effective trading approach. Consistent and stable profits with a proven performance record are assurances that the vendor provides.
FXautomater is the company endorsing this FX robot. Other products from the company include Grid Master Pro, Smart Scalper Pro, etc. The company does not provide location info or phone number. An online contact form is the sole support method present.
To purchase this FX robot, you need to pay $227. The regular price of this ATS is $297 but the vendor is providing a discount of $70. Along with the software license, you get two demo accounts, one real account, and 60 days money-back guarantee. The software supports the GBPUSD and the EURUSD pairs.
As per the vendor info, the features of this FX EA include accurate market entries, a high reward to risk ratio, independent of spread and slippage, efficient money management, dynamic trading logic, protection from high slippage and spread, and many more. A minimum deposit of $100 to $500 is recommended while the capital of $1000 to $5000 is recommended for making better profits. This EA uses the M5 timeframe.
This ATS works by identifying the ending phase of a volatile trend and spotting the volatility borders of the dominant trend. The EA then executes the trades using price levels that take advantage of the market readjustment in case of a volatility breakout.
Forex Trend Detector trading approach
A volatility breakout approach is used by this FX robot as per the vendor. The approach is used along with an algorithm that keeps the drawdown low. The company claims that this EA was designed by experts with more than 15 years of experience in the field. Adaptation to the existing market condition is also another feature of the trading approach of this FX EA.
A strategy tester report is present for the EURUSD pair using the M5 timeframe and over 10 years. For an initial deposit of $5000, the EA has generated a net profit of 320223.60. The profit factor value was 2.13 and profitability was 71.35%. The modeling quality was 90% which is not sufficient to know info like the commission, slippage, etc. While the profits look decent, they are based on historical data and cannot predict a similar profit in the future.
Forex Trend Detector live trading results
A real AUD account using the IC Markets broker and the leverage of 1:500 on the MT4 platform verified by the myfxbook site is shown by the company. Only the trading privileges are verified by and not the track record.
From the above screenshots, we can see the account has generated a total gain of 38.17% and an absolute profit of 38.66%. A daily and monthly returns of 0.25% and 10.26% are present along with a drawdown of 19.36%.
For the account that started in April 2021 with a deposit of AUD2,888.44, a total of 114 trades have been completed with a profitability of 68% and a profit factor of 3.61. The lot size used ranges from 0.01 up to 0.10.
Comparison of the backtest results with the real trading stats reveals that there are differences in all the values including the drawdown, profitability, and profit factor. Furthermore, the small sample size makes us suspect the stats do not give the actual performance of the EA. The varying lot size and low profitability also indicate an ineffective strategy.
What are the risks with Forex Trend Detector?
From our assessment of the trading approach used by this FX robot and its efficacy in the backtests and real trading account, we find that it is not a reliable trading system. The main risks you face with this FX EA include:
- The track record is not verified
- Poor performance in real trading results
- Lack of vendor transparency
We found two reviews for this FX EA on the Forex Peace Army site. Of the two reviews one has been declared as spam by the site and the other feedback indicates the performance is poor. From the feedback, it is clear that this is a scam EA.
What are the pros & cons of investing in Forex Trend Detector?
|Fully automated software||Performance is poor|
|60-day money-back assurance||Trading results indicate a high-risk strategy|
After a thorough assessment of the trading strategy and the real trading performance, we find this FX robot is not worth investing in.
Forex Trend Detector Conclusion
Forex Trend Detector claims to provide a proven track record and stable profits. Our analysis reveals the EA is not a trustworthy product. Lack of vendor transparency, poor performance, risky approach, and negative user reviews are the key reasons for our not recommending this FX EA.