In this post I will be reviewing the FX Charger fully automated forex trading system for the MetaTrader 4 trading platform. This is a set and forget forex robot that requires no previous trading experience and is suitable for both novice and advanced traders. It includes detailed setup instructions so you can be up and running in minutes.
FX Charger Trading Strategy
FX Charger has built in money management so it will place and manage the trades on your behalf. The take profit and stop loss is dynamic so FX Charger will update them in real time depending on the current market conditions. This helps to ensure that the EA is always up to date with the latest market movements.
It includes two different settings for novice and advanced traders – you can use FX Charger with the default settings straight out of the box or if you are more experienced and like to experiment you can customise it to your requirements.
It must be said this EA uses a dangerous money management strategy that I would not personally want to use.
FX Charger Back Testing
The FX Charger website has published some back tests on the currency pairs it currently trades – EURUSD/AUDUSD. This is a good selection of pairs due to the low spreads and liquidity they tend to have. There are 2 trading modes used – normal mode and high profitability mode. TThe FX Charger has full back tests for you to view and download in further detail should you wish.
FX Charger Live Results
FX Charger Summary
Overall, I would personally avoid using this particular forex robot. I find that it is too risky for my personal taste. I have conducted many forex robot reviews and there are alternative options that I would prefer over this EA. It does however come with instructions, full support and a money back guarantee.