Forex Tester 3 Review
What is the Forex Tester?
Forex Tester is a software simulator that can test the profitability of a Forex trading strategy. The application shows the historical returns of any trading strategy by offering the chance for improvement and re-design before trading for real money.
-Built-in back-testing platform using 16 years of price data
-Ideal for testing manual strategies, as well as automated strategies (EAs)
-Free-Trial (15-days) is available
-30-days Money-Back Guarantee, it costs $299
Introduction to Forex Tester Software
Forex Tester can evaluate the performance of a trading strategy faster and more accurate than a demo trading account. In order to do that it uses its own built-in platform, which is similar in many ways to MetaTrader-4.
Forex Tester Platform
The Forex Tester platform offers a friendly and easy-to-use interface similar to MetatTrader-4. You can customize several components of the platform including charts, indicators, and graphical instruments.
The Forex Tester uses 16 years of historical price data with extreme accuracy. You can test a single strategy or a combination of strategies. It is also possible to pause, go forward, or rewind the data at any time.
Forex Tester Platform Features
- Choose between Line, Candle, and Bar Charts
- Back-testing strategies tick by tick (16 years of price data)
- Place any conditional trading order, including stops, trailing stops, etc.
- Ten (10) easy built-in manual techniques
- Shows a profit chart
- Can create and retrieve chart templates
- Trading sessions can be fully saved and retrieved
- Providing a full record of trades (trade journal) that can be transferred in Microsoft Excel
- Choose between different trading conditions (as offered by your own Forex broker)
- Access to education material
- Built-in Forum
- Simulate and test simultaneously various forex Expert Advisors
Forex Tester Asset Index
The application offers 16 currency pairs and 2 precious metals. That means all Forex Majors, several Forex Crosses, plus Gold and Silver.
■ EURUSD | USDJPY | GBPUSD | USDCHF | USDCAD | AUDUSD | NZDUSD
■ EURGBP | EURJPY | EURCHF | EURCAD | AUDJPY | CHFJPY | GBPJPY | NZDJPY | GBPCHF
■ XAGUSD | XAUUSD
Performing Technical Analysis
Forex Tester offers almost the same technical analysis capabilities as any modern trading platform. Trades can insert 50 different indicators, Elliott Waves, plus the full series of Fibonacci tools.
Built-in Oscillators and Indicators
- Moving Averages
- MACD and MACD new
- Relative Strength Index (RSI)
- Average True Range (ATR)
- Commodity Channel Index (CCI)
- HeikenAshi chart
- Keltner Channels
- Pivot Points
- Bollinger Bands
- Volume, and many others
Forex Tester Customer Service
The Forex Tester offers Live Chat and email support via the online customer care. The Forex Tester team can help traders to solve any problems.
- Live Chat, and eMail Support
- Forex Tester forum (answers from experts)
The company behind the software app is the “Forex Tester Software, Inc”, domiciled in Toronto, Canada.
Forex Tester Review Pros & Cons
These are some key pros and cons of the Forex Tester Review:
(√) Forex Tester Review Advantages Compared to a Demo Account
- Test any trading strategy (manual or automated)
- Excellent tool for manual back-testing
- Avoids manipulations by brokers in data feeding
- Access to 16-year historical data with tick accuracy
- Pause, save and retrieve your testing projects
(x) Forex Tester Review Disadvantages Compared to a Demo Account
- Forex Tester costs money while a demo account is free
- Traders need time to uncover the full functionality of the software
Forex Tester Review Conclusions
Forex Tester is the ideal tool for back-testing manual strategies. It offers an excellent interface with hundreds of built-in tools and several other advantages. As a con, the software is not very fast when it tests strategies in a tick mode.
Is Forex Tester a Scam? No, certainly not.
These are some of the key points of the Forex Tester Review:
- User-friendly interface (similar to MT4)
- Manual and Automated Trading Strategy testing (EAs)
- 10 built-in manual strategies
- 16 currencies and 2 metals in multiple timeframes
- 16 years of price data, plus tick-by-tick data testing
- 50 built-in indicators, plus Fibonacci Tools and Elliott Waving
- Pause, Forward, and Backward testing (Save and retrieve any testing project)
- Insert Risk Calculation / Money Management
- Customers support via email, live chat, and forum
The software costs $299 and offers a 1-month money back guarantee. A Free Trial for 15 days is also available.
■ Forex Tester Review