FXHUNTER is a Forex EA that offers customers a lucrative trading approach. It was created in 2008, which means it is quite old. However, its official site was registered in 2013. This clearly shows that what the company claims is different from reality. However, it might have been that the vendor is talking about its backtests since 2008 and not about its tool’s releasing year.
Furthermore, the developer has not provided any other details about themselves, apart from that their servers are situated in Germany. Plus, their website has a Russian version. This means the vendor might be Russian or German.
FXHUNTER Trading Strategy
As per the vendor, FXHUNTER uses a martingale strategy, which is a rare case when it comes to Forex robots. This is because it’s a risky strategy and a lot of traders don’t prefer it. In this strategy, if the market does not balance out, then the trader can incur losses and lose their account. The trading system puts open orders into baskets and closes them after reaching the target, which is the take-profit level.
These trades are added with the help of a grade strategy in order to close lucrative deals in all types of market situations. The trading tool works on an M15 time frame and deals in several currency pairs, including NZD/USD, NZD/CAD, GBP/USD, GBP/CAD, GBP/AUD, EUR/SGD, EUR/GBP, AUD/NZD, and AUD/CAD.
FXHUNTER Features
Some of the main features of FXHUNTER are as follows:
- The integrated indicators in the system enable precise entries.
- It uses a martingale strategy when the entry is not very precise.
- The tool is ideal for both novice and experienced traders.
- It is compatible with all brokers.
- The risk management feature allows you to trade using your chosen risks as per your trading requirements and preferences.
- You must set the highest drawdown limit.
- The system does not open a new trade if there are not sufficient funds in your account.
When it comes to its pricing, FXHUNTER provides you with three subscription plans. These include $29 for one month, $69 for three months with a discount of 20%, and $121 for six months with a discount of 30%. All these plans come with free updates, full support, and one license.
Apart from these three plans, you can also buy this Forex robot for $500. Plus, the vendor offers a money-back guarantee of 30 days. In order to contact FXHUNTER, you can email them at [email protected].
FXHUNTER Backtesting Results
FXHUNTER has a separate section of Backtests on its official website. These backtesting results are of six currency pairs, which include AUD/NZD, NZD/CAD, AUD/CAD, EUR/SGD, EUR/GBP, and GBP/CAD. We decided to review the AUD/NZD backtest, which has a timeframe of M5 and 99.90% modeling quality. This test began in 2008 and finished in 2016.
It had $5000 of deposit and generated a profit of $27440.56. The backtest had 1743 trades in total and won 1229 deals out of them, that is, 70.51%. It had a win rate of 69.30% for short trades and 71.62% for long trades. Plus, it had 2.18 as the profit factor and a relative drawdown of 23.62%, that is, $6221.47 with six losses in a row.
FXHUNTER Live Trading Results
FXHUNTER has provided two live trading accounts on its official site. We decided to check out one of these. It is a Real (USD) account that runs on the MT4 terminal. The account was created on 30 April 2020 under the brokerage of Fort Financial Services.
It has a leverage of 1:1000 and +65.39% gain. The account shows daily and monthly gains as 0.13% and 3.99%, respectively. Furthermore, the maximum drawdown is 18.18%. Apart from this, the trading activity of this account is concealed by the vendor as you can see in the screenshot above. This means we cannot know about the profit charts, balance, Stop Loss, Take Profit, and lot size of this account.
The account deals in six currency pairs, including NZD/CAD, GBP/CAD, EUR/SGD, EUR/GBP, AUD/NZD, and AUD/CAD. From September 2020, the maximum profit earned by the account is only 2.81%.
FXHUNTER Reputation
FXHUNTER has only one user review on Forexpeacearmy. This review was written three years back and it is a negative one. As per the user, this software is a waste of money and the support does not answer customer issues.
FXHUNTER Review Summary
- Strategy – 4/10
- Functionality & Features – 5/10
- Trading Results – 4/10
- Reliability – 4/10
- Pricing – 6/10
Conclusion
FXHUNTER is new generation grid Forex trading software that works on the “buy cheap, sell high” principle. It is offered at a reasonable price with a refund policy. However, the tool uses the dangerous martingale strategy. This is one of the main reasons why using this trading system might not be right for traders.
Even though the vendor has provided its live trading and backtesting results, its trading performance and results do not look satisfactory with concealed trading activity. There is only one customer review of this software and we do not know anything about the developer or their team. Thus, we do not recommend this EA to traders.
