In this post I will be reviewing the FxDiverse fully automated forex trading system. This forex robot allows you to choose your preferred method of trading which helps make it unique from the majority of other forex robots. It is an expert advisor that runs on the MetaTrader 4 trading platform and includes detailed instructions making it suitable for beginner forex traders.
This is another forex robot from the same development team who have a range of other forex software that I have previously reviewed including Forex inControl, FXCharger, FXParabol EA, FxStabilizer, FXQuaser EA, FXConstant EA, FXHelix, FXZipper EA, FXTrackPRO, FXRapid EA, MyForexPath EA, FXGoodway EA, Forex Truck EA and the FXCipher EA.
You may ask yourself why do these developers sell so many forex robots when they claim each of them can perform so well. Surely, they should be using them on their own accounts and raking in pips rather than selling them and dealing with customer support issues.
Hopefully this FxDiverse review will help you decide if these claims are backed up with solid trading strategies, top-quality backtests and verified real account results. We will look at the most important aspects to consider when choosing a forex robot to see if this is a forex expert advisor (EA) that you would consider running on your own trading account.
FxDiverse Trading Strategy
FxDiverse is very unique in the sense that allows you to customise the type of trading you want the robot to conduct. You can set FxDiverse to trade as often as you want, what your profit targets are, choose your own currency pairs and risk. Of course, with other forex EA’s you can choose the currency pairs you want to trade and risk but they are usually limited to a selection of currency pairs and will not allow you to specify the amount of trades and profit targets as this automated system does.
It is very flexible, allowing you to choose from a selection of presets and up to 28 different currency pairs. It even includes access to a private members area where there are over 60 different trading accounts all using different settings that you can follow and choose to trade.
FxDiverse can be used with any MetaTrader 4 broker as it is not dependant on spreads or requites although I would always prefer to use a regulated true ECN forex broker for the best possible spreads and execution speeds as this can help save on trading costs.
IC Markets are one of my top forex brokers for running automated forex trading robots. This is because they are an ECN broker with lots of liuqidity which means that you can trade with tight spreads, low commission fees and rapid trade execution speeds at the best available prices.
Whilst the FxDiverse Robot is a fully automated forex trading robot, you could always set the software to semi-automated mode in which instance it would send you an alert when it finds a trading signal and you could decide from there if you would like to enter the market or wait for the next opportunity to come along. I would always like to perform my own additional market analysis where possible as extra confirmation for all trades. This could include technical analysis, fundamental analysis and price action analysis. Generally speaking, the more aspects of market analysis that you have covered, the more informed your trade decisions can be.
The developer has made all of the FxDiverse settings externally available which means that you can adjust them via the inputs window when you attach this robot to the charts in your trading platform. You can always just use the default settings provided by the FxDiverse developer that have already been optimised but you should always check to make sure that the lot or risk size is set to a suitable level for your risk preferences as every trader is different in that respect.
FxDiverse Back Testing
There are no back tests currently being shown on the FxDiverse website which is not great. It would have been useful for potential users to see 99% modelling quality back tests using Birts TDS in the MT4 strategy tester. This could have given an idea of the FxDiverse historical performance but of course would be no guarantee of future performance. For the upmost accuracy, back tests can be conducted using real tick data, variable spreads and including commission, swaps and slippage. I would like to see the developer improve and add FxDiverse backtests, especially when you consider they have been around for years so should certainly have the skills required to do so. Most of the top forex robots nowadays have 99% modelling quality tests, including the Forex Robotron EA.
FxDiverse Live Results
The robot developer has shared a verified Myfxbook account showing some FxDiverse results. However, the trading account has not been updated for a long time now which is disappointing. This means that we have no way to see how the FxDiverse expert advisor has been performing in recent market conditions which have changed significantly since the account was last updated. I think there is certainly room for improvement here. Not to mention the drawdown is quite high which makes me believe the implemented strategy is using poor money management. If you are looking for a forex robot that has verified results, then you may want to consider the Forex Flex EA as an alternative option instead. To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
FxDiverse Summary
Overall, FxDiverse is a fully automated forex trading system with many different settings to choose from depending on your trading characteristics and goals. The settings are provided to you and you can even set your goals for each trading session. It comes with detailed instructions, full support, free updates, member’s area access and a 60-day money back guarantee. However, I think there is lots of ways in which this expert advisor can be improved. Specifically, I would like to see the developers add some top quality backtests and most importantly, they should provide us with an up to date verified account so that we can see the latest FxDiverse results. You could always try the robot on a demo account if you are curious, or you could browse my forex robot reviews for some alternative options.
FxDiverse
$235
Pros
- Multiple Currency Pairs
- Multiple Timeframes
- Unlimited Licenses
- Very Diverse Trading Strategy
- Detailed Instructions
- Fully Automated Forex System
- Customisable Settings
- Any Forex Broker
- Full Support
- 30 Day Money Back Guarantee
Cons
- No Backtests
- Results Not Updated
- High Drawdowns
- MetaTrader 4 Only
- Poor Money Management
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
