In this post I will be reviewing the FX Charger fully automated forex trading system for the Meta Trader 4 trading platform. This is a set and forget forex robot that requires no previous trading experience and is suitable for both novice and advanced traders. It includes detailed setup instructions so you can be up and running in minutes. The FX Charger website has real accounts published and verified by MyFxBook that at the time of me writing this review are showing gains of almost 50% on the EURUSD currency pair in just a few months of trading. It achieved these impressive results with an acceptable drawdown of just 14% – despite being a semi-martingale strategy. Statistically this is a very impressive forex EA and it is always nice to see the developers put their money where their mouth is and show real verified results. What’s more, these real accounts are with FxOpen who have been around for a very long time and are well known in the industry.
FX Charger Trading Strategy
FX Charger has a good frequency of trades, trading every day. As with most forex robots it has built in money management so it will place and manage the trades on your behalf. The take profit and stop loss is dynamic so FX Charger will update them in real time depending on the current market conditions. This excellent feature ensures that the EA is always up to date with the latest market movements and allows profit to be taken when the opportunity arises before the market reverses. Furthermore, this does not leave trades open for a long time in draw down. You can set the EA to have a maximum loss so that it will not allow for your account to drop below this value – important when using a martingale based money management system. Looking at the latest results, it has not come close to damaging the account. It includes two different settings for novice and advanced traders – you can use FX Charger with the default settings straight out of the box or if you are more experienced and like to experiment you can customise it to your requirements. It is not broker dependant although I would always recommend using a regulated true ECN forex broker for the best spreads and plenty of liquidity providers for fast execution.
FX Charger Back Testing
The FX Charger website has published some very impressive back tests on the currency pairs it currently trades – EURUSD/AUDUSD. This is a good selection of pairs due to the low spreads and plenty of trading volume for liquidity and therefore fast execution at the best possible prices. There are 2 trading modes used – normal mode and high profitability mode. The normal mode turned $10,000 into $ 131 071 and the high profitability mode turned $10,000 into $6,865,178 on the EURUSD. These back tests showed the huge potential of the EA and so far live results have reflected that. The FX Charger has full back tests for you to view and download in further detail should you wish.
FX Charger Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
FX Charger Summary
Overall, FX Charger is a decent EA with good potential, especially for those who are partial to a martingale strategy – just make sure you keep the lots low. It is very easy to setup and once running on the platform does not require any interference from you, the user. It is also flexible, allowing you to use the default settings or customise it to suite your requirements. The results on the developer’s real accounts have been great as I am writing this review. It is dynamic so adjusts to current market conditions. It has functions in place to stop your account suffering more draw down than you would like. FX Charger also comes with full support, licenses, free updates and a 30 day money back guarantee.