FX Charger Review

FX Charger presents an intriguing solution for traders seeking automated forex trading with its dynamic money management and customizable settings.
FX Charger Review

FX Charger Summary

In the ever-evolving landscape of forex trading, the advent of automated trading solutions has brought about a paradigm shift. Among these, FX Charger stands out, presenting itself as a fully automated forex trading robot equipped with dynamic money management and real-time adjustments. In this extensive review, we will delve into the intricacies of FX Charger, exploring its trading strategy, features, backtesting procedures, and live results.

FX Charger Trading Strategy

At the core of FX Charger’s appeal is its trading strategy, which is driven by a built-in money management system. This system allows the EA to autonomously execute trades on behalf of users, adjusting take profit and stop loss levels in real-time based on prevailing market conditions. This adaptive approach is designed to keep the EA aligned with the latest price movements, providing a potentially more responsive trading experience.

FX Charger caters to both novice and advanced traders by offering two different settings. Users can opt for the default settings straight out of the box or, for those more experienced and experimental, customize the EA to meet their specific requirements. It’s worth noting that the website acknowledges the usage of a money management strategy labeled as “dangerous,” signaling a potentially high-risk approach.

Semi-Automated Mode and Additional Market Analysis

While FX Charger is primarily designed for fully automated trading, it does provide users with the option to switch to semi-automated mode. In this mode, the software generates alerts when a trading signal is identified, allowing users to make the final decision on whether to execute the trade. This integration of user involvement reflects an understanding that successful trading often requires a combination of automated assistance and informed decision-making.

Additionally, the developer recommends performing additional market analysis, including technical analysis, fundamental analysis, and price action analysis, to serve as extra confirmation for all trades. This emphasis on a comprehensive approach to market analysis aligns with the notion that the more aspects covered, the more informed trade decisions can be.


External Adjustability and Customization

FX Charger places importance on user flexibility and customization. The developer has made all the settings externally available, allowing users to adjust them via the inputs window when attaching the robot to their trading charts. While default settings are provided and optimized by the developer, users are encouraged to verify that lot size or risk size is set to a suitable level for their risk preferences.

For those with more experience, the EA provides room for experimentation with settings to develop bespoke set files. The recommendation is to use the MT4 strategy tester to backtest the software across different currency pairs and chart timeframes. This process helps users discover unique combinations of settings that match their trading style and goals.

FX Charger Back Testing

The FX Charger website offers a glimpse into the EA’s historical performance through backtesting results on the currency pairs EURUSD/AUDUSD. The backtesting involves two trading modes: normal mode and high profitability mode. However, a critical consideration arises due to the use of only 90% modeling quality in these tests. This modeling quality limitation excludes important factors such as spreads and commissions, casting a shadow over the reliability of the backtesting results.

It’s essential to highlight the industry standard of 99% modeling quality utilized by most top-performing forex robots, including the Forex Robotron EA. This variance in modeling quality raises questions about the robustness and accuracy of FX Charger’s backtesting results.

FX Charger Live Results

While backtesting provides insights into historical performance, live results are crucial for assessing how an EA performs in current market conditions. The FX Charger developer has shared a verified Myfxbook account showcasing the robot’s results. However, a significant drawback is the lack of recent updates to this trading account. The absence of live updates poses challenges in evaluating how FX Charger has been performing under the evolving dynamics of the forex market.


The infrequency of updates leaves traders without a clear picture of the EA’s recent performance and its adaptability to changing market conditions. This information gap diminishes the reliability of the provided results and raises concerns about the current efficacy of FX Charger.

Conclusion

In conclusion, FX Charger presents an intriguing solution for traders seeking automated forex trading with its dynamic money management and customizable settings. However, caution is warranted due to the perceived risky nature of its money management strategy. The backtesting results, while available, are hindered by the use of a lower modeling quality, affecting their credibility. Traders considering FX Charger are encouraged to perform thorough due diligence, including monitoring the developer’s updates and exploring alternatives with verified and up-to-date performance records.

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