FXQUASAR is a 100% automated robot that works on the MT4 and MT5 trading platforms. It is compatible with all brokers and you can use it with any type of account. According to the vendor, this system helps you secure profits and minimize losses.
The current price of this expert advisor is $279. By purchasing it, you get a single lifetime license and the possibility to change the account number online. You get both versions of the EA along with a detailed user manual. The vendor offers free updates for this robot and a 30-day money-back guarantee.
FXQUASAR trading strategy
This is a Forex EA that does not use indicators for trading in currency pairs. It uses internal algorithms and price quotes for analyzing the market scenario. Also, it makes its decision based on the price shifts for the previous few days. Based on the analysis results, it decides whether to open a trade or not. This method also helps it figure out the trading direction. The vendor has not explained the trading algorithm so we don’t know if it is effective.
Nowhere on the official website does the vendor explain the trading strategy used by this system. The complete lack of strategy insight comes as a disappointment. We don’t know whether this robot follows the trend of trades against it. The vendor should have explained the trading scheme in detail because it helps traders decide whether the system would be suitable for their personal trading style.
FXQUASAR features
FXQUASAR has six different trading sessions built into it. Out of them, three use long positions while the others use short positions. Each of them analyzes the market in its own way. The sessions do not depend on each other to function properly. We don’t know what analysis techniques the sessions use since the vendor has not described them in detail.
This robot uses a special risk-limiting system. The vendor claims that this helps traders regain their losses. Once again, they have not explained this feature properly. The lack of information surrounding this system is a huge red flag. Most serious Forex traders would consider it a scam service.
FXQUASAR backtesting results
This backtest was carried out on the AUD/USD currency pair using the H1 timeframe between 2015 and 2021. There were a total of 1362 trades placed by the EA, out of which it managed to win 1016. This means it had a win rate of 74.60%.
The total profit generated during this backtest was $3425803.93. It had a relative drawdown of 92.62%, which is indicative of a high risk of ruin. There were 19 maximum consecutive wins and 4 maximum consecutive losses for this backtest. The profit factor was 1.81.
FXQUASAR live trading results
This live trading account on Myfxbook was launched on July 06, 2020. To date, the EA has placed 319 trades through this account. Currently, it has a win rate of 74% and a total profit of $10520.73. The daily and monthly gains for this account are 0.37% and 11.81%, respectively.
Compared to the backtesting results, the drawdown is lower for the live statistics. However, a drawdown of 32.77 is still quite high compared to other systems. You can lose large sums of money while trading with this robot and so we cannot consider it profitable.
FXQUASAR reputation
There is virtually no information available on the parent company behind FXQUASAR. The vendor has not shared the contact information or the physical address, so we can’t even verify whether it is a legitimate company or not. Also, we don’t know the identities of the developers and traders working behind the scenes. There is no live chat feature on the official website and the only way to get in touch with the service team is to use the contact form.
There are no reviews for FXQUASAR on trusted third-party websites. User reviews are important because they tell us about the first-hand experience of other users. The lack of reviews tells us that not many people are currently using this trading software.
FXQUASAR review summary
- Strategy – 2/10
- Functionality & Features – 3/10
- Trading Results – 3/10
- Reliability – 2/10
- Pricing – 3/10
FXQUASAR is not a system that can perform consistently in the Forex market. The vendor does not clearly explain how this system functions. Moreover, it uses a high-risk strategy that leads to a high drawdown. This EA is worth its price, and for this value, you can get yourself a reliable robot with several years’ worth of trading history.
