If your questions are not answered on the FAQ section of the website, you can contact live support. If your question is more complex or out of business hours then you can create and submit a ticket for the support team to assist you. 4xdev company focuses on the development of various Forex tools (e.g., indicators, EAs, scripts, alerts) and conversion of ones into the needed format.
We also ensure all reviews are published without moderation. We use dedicated people and clever technology to safeguard our platform. Companies can ask for reviews via automatic invitations. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Every function you can get from a real trading station such as changing stops or take profit levels, applying a trailing stop etc. can also be applied within the Forex Tester platform.
Great tools for back testing strategy
I’ve taken it for a test drive to understand its functions and check its suitability for different trading styles. ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations. ForexTester.com doesn’t support binary options trading simulation.
Kyle Townsend is the founder of Forex Broker Report, an experienced forex trader and an advocate for funding options for retail forex traders. Forex historical data is a must for back testing and trading. Forex data can be compared to fuel and software that uses this data is like an engine. You can test strategies at any comfortable time unlike doing it using demo account, where you often must sit in front of the monitor and observe the price movements of the instruments.
How our Forex trading simulator was useful [Top reviews]
Such instances do not provide the full features of a dedicated simulator/backtester like Forex Tester. However, note that the free Basic data subscription includes only forex data, and even the selection is limited to the major pairs. Hence, it’s insufficient if you’re looking to go beyond the common spot forex markets. Forex Tester is ideal for discretionary price action traders. The learning curve is short, and the drawing tools are robust.
- Forex Tester also has tools for more specific trading styles including Andrew’s Pitchfork, Elliot Wave, and Fibonacci.
- This feature definitely has pushed the forex tester to next level .
- The full version can also run expert advisers in .dll allowing for sophisticated automated back testing.
- Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.
- With its custom settings and data sources, Forex Tester 5 is able to offer a realistic simulation.
Forex Tester’s record-keeping ability is convenient and comprehensive. It adds great value to the learning process of any serious trader. With the data in Excel, I am able to run simulations and perform advanced analyses on my trades. You can double-click on a particular trade in your account history, and the charts will move to show the trade.
Scalping takes place at high speed with uncertain trade execution. Hence, it is one of the hardest trading styles to backtest reliably. In fact, many discretionary traders like myself use custom indicators to aid analysis. Hence, being able to get custom MT4 indicators into Forex Tester is a huge plus. For mechanical trading, depending on the complexity of your trading strategies, you might need to devote more effort to convert them to use them in Forex Tester. But the tools (like EFB) to help you with this area are improving and will continue to improve.
Backtest & Replay
The program keeps track of your wins and losses so that you can review your performance, and a log of every trade is kept, so that you can review your performance trade-by-trade. Easy forex builder allows you to construct EA’s within the platform to test. This saves a huge amount of development time for traders and new strategies can be taken to the live markets much quicker with this add-on. If you’re debating purchasing the standard package, you might as well jump in at the super package as the price point is really similar but the quality is much higher. In the super package you will have access to time frames as low as 1 minute and tick data meaning the quality of the lower time frame moves is much more realistic.
Trading Setups Review has partnered Forex Tester to offer a special discounted price for our readers. With its custom settings and data sources, Forex Tester 5 is able to offer a realistic simulation. There are two scenarios in which you might want to consider upgrading your data package. Most simulators allow you to set your account balance and reset it when necessary. Under the Orders menu, it allows you to record deposits and withdrawals from the account as well.
Great experience with Forex trader and the team
To sum up, Forex Tester has trading tools comparable to most forex trading/charting platforms. As a price action trader, I paid attention to the drawing tools in my review. If you are a new forex trader, you will very likely turn to MT4 when you want to transit to live trading. On top of that, your simulator must offer the trading tools you need to put your trading strategy in place.
Forex Tester Review
This is one of my favorite functions – a quick and intuitive link between trade records and their charts. You can start as many projects as you like, each with a different focus. Projects offer a convenient way to manage your backtests and practice sessions. At the same time, you can start a new project for discretionary trading in a different currency pair.
A very helpful trading simulator
Access to this page has been denied because we believe you are using automation tools to browse the website. As shown in the table above, there are three levels of data for Forex Tester. Forex Tester offers that function to create custom instruments and import your own data. Although not perfect, this feature will allow you to use Forex Tester to backtest a scalping strategy with reasonable reliability. In this section, we will consider if Forex Tester 5 meets the needs of different trading styles.