In this post I will review FXBLASTERPRO. This is yet another fully automated forex trading system that has been developed for the MetaTrader 4 platform. MT4 is available for free from most online forex brokers. With so many brokers to choose from, I have compiled a list of my personal best forex brokers for inspiration.
I would personally be looking for the broker with the lowest spreads and commissions as this can help me to save on trading costs in the long term. I find that ECN brokers can have quick trade execution speeds which could help to minimise slippage and get trades executed at the best available prices with minimal delay, from my experience.
FXBLASTERPRO Trading Strategy
FXBLASTERPRO is an automated forex trading strategy based on built-in algorithm consisting of technical indicators that will place and manage trades on behalf of the user. This takes the human emotions and interpretation away from trading and can sometimes cause robots to be too “rigid” trading strategies.
FXBLASTERPRO has built in 3 different unique stand-alone strategies that help to try and ensure that the EA is adapting to current market conditions. The robot also implements a high slippage protection filter to avoid trading if the price differs too much. The developer is running the EA on the EURGBP currency pair.
Due to the automated nature of this trading software, it can be used by traders of all experience levels. It must be said that there are no guarantees on how it will perform going forward and past results should be by no means any indication of future performance. It is important that you are aware of the significant risks involved with trading online and many beginners would practice with a demo account to begin with.
The developer states that FXBLASTERPRO is an automated trading system that can monitor and trade multiple trading instruments continuously 24 hours a day. They have also left some of the robot inputs externally available so you can adjust according to your own trading requirements if you wish to do so.
There is a built-in money management and recovery system, also known as grid trading. I am not a big fan of grid trading systems as they usually increase positions in order to compensate for bad initial entries. More often than not I have seen these blow trading accounts. I would prefer a trading strategy that had a favourable risk to reward ratio so that this was not necessary.
FXBLASTERPRO Back Testing
Unfortunately, at this time there are no FXBLASTERPRO back tests shared on the robots official website.
FXBLASTERPRO Live Results
I personally find the FXBLASTERPRO grid trading and martingale money management way too risk for my trading preferences. Whilst such systems can go on decent runs, the majority hit heavy losses eventually based on my experience. If anything, I would experiment with this particular forex robot on a demo trading account.
The FXBLASTERPRO includes instructions, support and updates. I have conducted many forex robot reviews and there are alternative options you may consider.