In this post I will review the Forex Fastron EA which is a fully automated forex robot that has been developed to run in the popular MetaTrader 4 (MT4) trading platform which is used by millions of traders worldwide and can be downloaded for free from most online forex brokers.
The Forex Fastron EA can be used by traders of all experience levels due to the fact that it is a set and forget trading system that automatically scans the markets for potential trading opportunities. It will then place and manage trades on behalf of the user.
In order to use this forex robot, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
Forex Fastron Trading Strategy
The Forex Fastron EA implement a combination of several technical indicators which aim to spot reversals in the market at the earliest possible opportunity.
The indicators used or standard MT4 indicators that form several trading strategies which aim to take advantage of various market conditions.
That being said, I would have liked to have seen this particular forex robot implement some price action analysis along with fundamental analysis to help improve how it filters trades.
The developer has designed the Forex Fastron EA for the following currency pairs: AUDUSD, EURGBP, EURUSD, USDCAD and USDCHF. I believe that this particular forex robot could be broker sensitive. For that reason, I would certainly look to use an ECN forex broker for the lowest spreads and fastest execution possible.
Forex Fastron Back Testing
I am not sure why but the developer has not shared any back tests on the Forex Fastron EA website. Whilst back tests are not always accurate, they can give an idea of what to expect provided they use 99% modelling quality by using Birts Tick Data Suite within the MT4 strategy tester. I would like to see the developer add these in the future to help see the robots statistics over a sustained period of time.
It should be noted that there are no guarantees on how any system will perform and historical results are by no means an indication of future performance.
Forex Fastron Live Results
Forex Fastron Summary
Overall, I personally feel the information provided by the developer is too limited for me to make an accurate conclusion on the longevity of the Forex Fastron EA. Amongst my main concerns would be compatibility with different forex brokerages and the money management used.
I have conducted many forex robot reviews and there are other alternative automated trading options that I would consider over this EA.
Forex Fastron comes with setup instructions, full support and a money back guarantee.