FX Classic Trader Review: Is It a Good EA to Buy In 2022?

FX Classic Trader is an expert advisor that supposedly reduces losses early and gives good trades the chance to optimize profits. The system is non-martingale and is compatible with NFA/FIFO. It runs on all account sizes and works with any broker. But before you use it to trade a live account, the advice is to test it on a demo account using your broker. Larger gains are usually obtained when you use brokers providing lower spreads. 

The creators of the FX Classic Trader are anonymous. There is no info on the sales pitch that can help us know who they are. Consequently, we cannot gauge their trustworthiness or reputation in the Forex market. 

There are three main pricing plans on offer, namely Basic, Business, and Premium that cost $109, $129, and $149, respectively. All the packages feature free updates, customer support, and different real and demo accounts. Unfortunately, a refund policy is not included. 

Key features 

The major features of this EA are listed here:

• The system is fully automated.
• The main trading currency pair is EURGBP.
• It includes a smart management system.
• The EA works on the MT4 terminal.
• The minimum leverage is 1:50, but the recommended one is 1:100-1:500.
• The minimum recommended deposit is $200.
• You are advised to use VPS if you lack a good internet connection.
• The robot must be left on 24/7 to run well.

FX Classic Trader trading approach

The EA’s trading logic is based on price swings between support/resistances coupled with indicator analysis computations daily. This strategy tells it when to open and close trades. The vendor doesn’t give further details about the method. 

Backtesting results

As you can see above, we have the backtest data for the EURGBP currency pair. All the 429 trades were completed on the H1 chart, and the test was done from 2017 to 2020. By the end of the trading period, the EA had a profitability rate of 86.01% and a loss rate of 13.99%. The resulting profit amount was $783073.59. From the higher average profit trade ($2295.70) than the average loss trade (-$1067.30), it is apparent that the system attracted more wins than losses. The maximum drawdown was 14.78% and meant low-risk trading was used.

FX Classic Trader live trading results

Currently, the account has a cumulative profit of $1508.48 following 210 days of active trading. This has, in turn, caused the balance to increase from $1968.18 to $3476.66. Subsequently, the value of the account has risen by 201.6%. About 0.3 trades are completed daily, and cumulatively, all orders completed to date have made 860.3 pips. 

The profit factor is 3.45, while the weekly and monthly returns are 3.8% and 16.8%, respectively. The peak drawdown rate (-5%) is low and means that the strategy on board isn’t risky. 

The account has an average win of $53.12 against an average loss of -$41.09. So, the EA wins more than it loses. The worst trading day saw the system lose -$30.51. To date, there is a 0.6% risk of ruin, which indicates that the trading activities carried out on the account are safe. The risk/reward ratio is 2.21.

FX Classic Trader works with the grid strategy, and till now, it has made numerous wins and a few losses on the account. 

What are the risks with FX Classic Trader?

We have learned that the robot’s trading activities are based on the grid strategy. This approach is notorious for blowing up accounts, especially when the market takes unexpected directions periodically. 

Worth noting!

The robot doesn’t have customer reviews yet despite having an active page on Forex Peace Army since July 2021. Perhaps the system has not caught the attention of traders till now. 

What are the pros and cons of investing in FX Classic Trader?