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    Home » Forex Truck Review: Is It a Good Robot to Buy In 2022?
    Automated Trading Forex Robots

    Forex Truck Review: Is It a Good Robot to Buy In 2022?

    January 18, 20224 Mins Read
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    Forex Truck
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    Forex Truck is a Forex-related trading solution that trades fully automatically. The product presentation looks below average because it’s three-page long and not informative enough. There’s a lack of explanations about strategies and settings. The robot works with USDCAD only. 

    Forex Truck pricing
    Forex Truck pricing

    Forex Truck can be found on Forex Store. It has a 10/10 rate there. It follows NFA rules. 

    Forex Truck pricing details
    Forex Truck pricing details

    The pricing was increased from $277 to $329 approximately half a year ago. The package includes one real account license that can be changed as many times as we need, user manual, not versions, a 30-day refund policy, and free updates. 

    Key features

    We have several details about strategies, features, and money-management explained. 

    • The advisor is able to execute orders on our terminal completely automatically. 
    • It can be used on platforms MT4 and MT5. 
    • The core trading pair is USDCAD. 
    • The system isn’t sewed to any broker. 
    • The system places orders on the market with fixed lots. 
    • It can add one more order if the market goes in the right direction. 
    • If in the wrong one, it tries to lose a deal with a profit or a little loss.

    Forex Truck trading approach

    • The devs didn’t disclose trading strategies behind the system. 
    • We don’t know what time frame it works on. 
    • We have analyzed the system and found that the advisor has a Martingale feature to recover after losses by placing an order with increased lot sizes.
    • It seeks for trading opportunities to place a deal with proper SL and TP on the market. 

    Backtesting results

    Forex Truck backtest report
    Forex Truck backtest report

    This is a USDCAD backtest report. The system was tested on the 6-year of the data on the H1 time frame. The modeling quality was 90.00% with 3-pip spreads. An initial deposit was $5000. The total net profit has become $75,759. The maximum drawdown was 23.42%. We have 609 orders performed by EA with an accuracy rate of 54% for shorts and 67% for longs.

    Forex Truck live trading results

    Forex Truck trading results
    Forex Truck trading results

    The advisor works on a real FXOpen-based account on MT4. It works automatically without leverage mentioned. The account has a verified track record. It was created on January 16, 2020, and funded at $2000. Since then, the total gain has become 627.34%. An average monthly gain is 8.54%. The maximum drawdown is 18.67%. 

    Forex Truck statistics
    Forex Truck statistics

    It has executed 460 orders with 2727.8 pips gained. An average win is 45.40 pips when an average loss is -47.24 pips. The win rate is 55% for Longs and 59% for Shorts. An average trade length is two days. The profit factor is 1.94. 

    Forex Truck directions
    Forex Truck directions

    The short direction with $6566 is more profitable than the long direction with $5980. 

    Forex Truck hourly activities
    Forex Truck hourly activities

    The system trades all sessions, focusing on the European one. 

    Forex Truck daily activities
    Forex Truck daily activities

    The advisor trades on Tuesdays more frequently than on the other days. 

    Forex Truck risks
    Forex Truck risks

    It works with medium risks to the balance. It has to lose 21 deals (8.31%) to lose 10% of the balance. 

    Forex Truck closed orders
    Forex Truck closed orders

    The advisor works with Grids of two orders, sometimes, with adding Martingale lots. 

    Forex Truck monthly activities
    Forex Truck monthly activities

    Forex Truck worked with different profitability in 2021. 

    What are the risks with Forex Truck?

    The risks are based on the Martingale strategy behind the system. Its usage can increase losses if the market goes in the wrong direction. 

    Worth noting!

    The presentation doesn’t include people’s testimonials that would let us know if the system works with the same profitability on their accounts. 

    What are the pros & cons of investing in Forex Truck?

    ProsCons
    Backtest reports provided No team revealed 
    Trading results shownNo settings explanations provided 
    A refund policy available No risk advice given
    Only one cross pair to trade
    A grid with martingale on the board
    No clients’ feedback available 
    Markets are invaded by algorithms. Learn 5 tips to secure your passive income with algo-based trading systems.
    Learn more

    Forex Truck Conclusion

    62% Summary

    Forex Truck is a trading solution that has been trading USDCAD on the real market for two years. The advisor is profitable but it uses risky strategies like a Grid and Martingale. So, the final decision is up to you.

    • Features 6
    • Pricing 7
    • Strategy 5
    • Performance 7
    • Reliability 6
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