In this post I will be reviewing the Z Trader FX EA which is a fully automated forex robot that will place, manage and exit trades for you in the free to download MetaTrader 4 (MT4) trading platform. An EA is short term for an expert advisor which is basically the same as a forex robot.
The MT4 trading platform is available to download from most of the best forex brokers worldwide and you can even start trading with the Z Trader FX EA on a free demo account to verify its performance just keep in mind that the price feeds on demo account can be different from real account and thus potentially give different spreads, slippage and commissions.
For the best possible trading conditions and to save on trading costs, I personally always prefer to use an ECN forex broker.
Due to its fully automated nature, the Z Trader FX EA is suitable for beginner and advanced traders, you simply set it up in a few minutes using the provided instructions, set a sensible lot size and you can then let it trade for you whilst checking back on its progress.
Z Trader FX EA Trading Strategy
The Z Trader FX EA is fully automated and uses no scalping or averaging or martingale money management strategy. The Z Trader FX EA trades on the EURUSD major currency pair which tends to have some of the lowest spreads due to the vast amount of liquidity, especially when using an ECN forex broker. In my opinion, the Z Trader FX EA is more of a long-term trading system thus perhaps would not suitable for those who prefer high octane action!
Z Trader FX EA Back Testing
The official Z Trader FX EA website has an EURUSD back test shared by the developer showing impressive results although only over a few years so I would like to see how it performed over a longer period of time and thus how it adapts to different market conditions and events such as the financial crisis of the past.
Furthermore, the modelling quality on the back tests is very limited at only 90% which means real tick data, real spreads and real commissions were not used. I would like to see back tests done with Birts Tick Data Suite (Birts TDS) for more accurate results in the MT4 strategy tester.
Z Trader FX EA Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Z Trader FX EA Summary
Overall, this forex robot can analyse currency pairs and place trades for you but it does have some limitations. I have conducted many forex robot reviews and there are other alternative automated trading options that I would consider over this EA. It does come with instructions, support and a money back guarantee. It should be noted that there are no guarantees on how any system will perform and historical results are by no means an indication of future performance.