FXCharger Robot Review

Is FXCharger a viable robot to run on the real account?

FXCharger is a well-known robot and has got high ratings across google. Let’s figure out how good it is.

The presentation starts with several key statements:

• The robot trades every day.
• A well-designed money-management system with accurate SL, TP placing.
• Settings are good for pro traders as well as for novices.
• The EA works well with any brokerage company.
• It compatibles with the MetaTrader 4 platform.

Take profit is always unique because the robot sets it taking into account the current situation and data from indicators. The robot has never kept trades for a long time and closed them during 2-4 days. As well, Stop-loss calculate by the specific system. It allows you not to lose more money than you’re ready.

FXCharger backtests

Devs provide many backtests for each of the packages, currency pairs, and modes.

It’s a backtest of FXCharger Max with a high profitability mode.

The currency pair has been set EUR/GBP and traded on the 1-hour time frame. The modeling quality was 90%. The start deposit has been $10K. The total net profit was $19M. The profit factor has been 2.58. The absolute drawdown was 4272, the maximal drawdown was 56%. There have been traded 655 trades with the 63-65% of the win-rate. The average profit trade was $74172 when the average loss was -$51077.

Real accounts trading results

The robot runs three accounts:

• Basic real USD EUR/USD,
• Max real USD EUR/USD,
• and Max real USD AUD/USD one.

The robot on the AUD/USD account has been stopped in July 2019.

It’s a Max real USD account with FXOpen as a brokerage company trades on the MetaTrader 4 platform. The account is live for four years. During the period, the gain equals +1856%. It’s so impressive results. The average monthly gain is 6.35% with 21.88% drawdowns. The account has been funded at $2000, the highest balance has been February 10, 2020, $46174. 

The robot has traded 535 deals with 1308 pips. The average win $317 is a bit higher than the loss -$308. The average win-rate is low and equals 57-63%. Even with the win-rate like this, the robot has managed to provide the 1.57 profit factor. The average trade length is 5 days.

FXCharger trades two hours in a day. 

After huge losses, the robot tries to recover the balance trading with extremely high risks.

The robot trades vary but, in general, can provide good monthly profit.

Pricing

The robot has got a high rate on the ForexStore

The packages vary by the number of currency pairs to trade. The Basic version costs $385 and allows us to trade just only the EUR/USD currency pair. The Max version costs $495 ad there include three pairs: EUR/USD, AUD/USD, and EUR/GBP ones. The seller provides the 30-day money-back guarantee.

Wrapping up

Pros

• 4 years live statistics data
• High rates across the web
• Good profit factor
• Solid monthly gain
• Huge account gain
• Backtests provided
• Features well-explained
• The 30-day money-back guarantee provided

Cons

• Lack of strategies explanations
• Several days ago robot lost 15% of the account balance
• High price
• Lack of people feedback
  

FXCharger is a well-designed robot that’s the reason for its long life. The robot provides about the 6% monthly gain with mid drawdowns. Looking at its history, we can find periods when robot has lost much, but it has been managed to recover. For the EUR/USD pair, this period has repeated again. Should you buy it? We’d like to say no needs to hurry. Let’s see how it’ll recover during the next several months.