FXCONSTANT is a Forex robot that trades in the EUR/USD pair. It is backed by verified live trading statistics and backtests conducted for over 9 years. As per vendor claims, this system is capable of fast order execution and it can also protect your capital against severe losses.
This Forex EA is available for $295. By purchasing this, you can access a single license for any account type, EA versions for both MT4 and MT5, a comprehensive user manual, as well as 24/7 technical support. The vendor also provides a 30-day money-back guarantee for this product, so you will get a full refund if the system fails to bring you profits.
FXCONSTANT Trading Strategy
This robot uses advanced market analysis principles to seek out the most lucrative trading occasions. According to the vendor, the robot does not use any indicators. It analyzes the price movement patterns using an advanced algorithm.
This EA has 20 different patterns, one of which is activated after the price movement has been analyzed. These patterns are kept updated to the present conditions in the market. In case the market behavior matches a particular pattern, a trade is opened in a specified direction based on the pattern.
Each and every pattern has a unique trade management algorithm. The algorithms specify things like when a trade should be closed, in which direction it should be opened, and more. FXCONSTANT may decrease its number of orders in a particular month depending on the market condition. When used with other EAs, it can effectively minimize the drawdown.
The vendor has not provided a proper explanation for the trading strategy used by this robot. We feel that they should have shed some more light on the trading algorithms used by the patterns and how they work. In the absence of strategy insight, it is a bit difficult to figure out whether the system uses a profitable trading scheme. Traders who are particular about technical details might find the lack of information disappointing.
FXCONSTANT Features
FXCONSTANT has two trading modes, namely aggressive and normal. The former involves a higher level of risk and while using this, the system would not reach the stop loss level too soon. This mode is perfect for those who are looking to make the maximum amount of profit in a given time.
The normal mode is for conservative traders who do not like taking too much risk. Here, even if a stop loss is reached, you will have a sizable portion of your deposit left to compensate for the loss. You can change your account number as many times as you wish while trading with this robot.
FXCONSTANT Backtesting Results
Here we have the results for a backtest that was carried out from January 2012 to March 2021 using a modeling quality of 90%. An initial deposit of $200 was made for this test, and from this, a total net profit of $186664625.57 was generated. A total of 1824 trades were placed during this time period, out of which 956 were won. This represents a win rate of 52.41%, which is not that impressive compared to some of the other robots available on the market.
Also, it should be noted that the drawdown for this backtest was 47.49%, which is pretty high. This tells that there is a sizable amount of risk involved with the robot and that you can suffer from some large losses while trading with it.
FXCONSTANT Live Trading Results
Here we have the live trading results for FXCONSTANT verified by the Myfxbook website. To date, only 150 trades have been placed through this account, and this is not a large enough sample size for us to gauge the robot’s profitability. Nevertheless, the win rate for this account is 55%, which is similar to what we saw in the backtest.
The drawdown is comparatively low at 9.59%, while the daily and monthly gains are 0.21% and 6.55%, respectively. It has a profit factor of 1.53.
FXCONSTANT Reputation
We don’t have any information on the official website about the developer company. Also, we don’t know if they have manufactured other robots in the past.
There are no customer reviews for this Forex EA on the web. It is quite evident that they do not have much of a reputation as of now.
FXCONSTANT Review Summary
- Strategy – 3/10
- Functionality and Features – 6/10
- Trading Results – 6/10
- Reliability – 3/10
- Pricing – 3/10
Conclusion
In the end, we would like to say that FXCONSTANT is not an EA you should invest in. It’s a product created by an unknown developer and its trading history is much too short. You’d be better off purchasing a system from a reputable vendor that provides details about its trading strategy.
I bought it, not recommended now as it take very few trades last 2 months, 2 to 3 trades, almost dead, they claim that they will improve it and also let it work on 2 pairs, still waiting.