 | Min Deposit of 20$ | |
 | Min Deposit of 5$ |
Thorex This trading system was created using 35 years worth of historical data. The portfolio has an equity growth stability ratio of more than 91% and a drawdown rate of more 400. These are the attributes that the developer claims will allow you to hammer the Forex markets. Let’s see for ourselves if the EA can live up to the hype in this review.
ThorexTo trust or to not trust?
You should ensure that this EA is trusted by its users before you buy it. It trades with high risk to the balance, however.
Features
We will outline the features in this Forex Robot:
- It can be used on multiple currency pairs such as AUDCAD and AUDUSD, CHFJPY or EURAUD, EURGBP/EURJPY/EURUSD, GBPAUD and GBPCAD, GBPJPY/GBUSD, USDCAD, USDCAD and USDCHF.
- The sysyem lets you run any combination of settings that you choose to build your personal risk and portfolio.
- It can only trade one time per system.
- The robot locks every trade with a strict stop loss of between 17 and 88 pip.
- Strategies like night scalping, entry averaging, grid, martingale, and “recovery trades” are not utilized.
- It has been OOS-tested and stressed by Monte Carlo.
- It’s maintained and updated continually through mql5 for optimal performance.
- IC Markets and other brokers with low spreads are recommended.
- EA requires a $250 minimum deposit and recommends a leverage of 1:3.
- It can trade on the MT4 or MT5 accounts.
This EA has not yet revealed the strategy they used. Based on the information in the sales pitch, there are several strategies. All the strategies can be switched on or off, according to our sales pitch.
This robot can be purchased by the developer at a $399 one-time fee. As it’s usual for the MQL5 products, a money-back guarantee is missed.
Backtest results
Backtest results are available for this EA. They show that it performed 50194 trades on a $1000 deposit. It is impossible to imagine that trillions of dollars were earned as a result. Under current market conditions, it is almost impossible to achieve such a result. Average win rates for short (64.72%), long (65.35%), positions were. The profit factor was 1.69 while the drawdown at 6.36% was average. This suggests that low-risk trading was possible.
Results of trading
At a glance, we can see that the system’s profitability in the live market is much lower than in the backtest period. Since it began trading on this account in January 2022, the EA has managed to earn the user €17.04 only from a €200 deposit. So, the account’s overall growth rate currently stands at 8.52%.
The robot only makes small profits on orders due to the 1.04 profit factor. The average loss rate of -24.72 pips is significantly higher than the average win (-18.52 by 6 pips). The EA has earned 492.6 pips so far.
The system produced desirable returns in January this year, but it hasn’t been able to replicate such results in other months. In effect, it lost a significant portion of the user’s investment in May.
Low drawdown
Myfxbook accounts have seen a drawdown of 31.84% from the EA. While traders might feel comfortable working with high risk, it is unlikely that they will be satisfied with the EA’s low profitability rates.
Vendor transparency
Thorex Lorenz Vauck, a German developer living in Germany, wrote this article. Vauck claimed to have 6+ year experience in mql5 programing. His two products so far (Thorex MT4 Thorex Based on 6 reviews, MT5 has received a rating of 4.3. Unfortunately, we don’t have a detailed biography of this vendor to help us gauge his expertise and reliability.
User reviews
MQL5 has given this robot a 5-star rating, which means that its users are satisfied with it. The users praise the author for being supportive, honest, and committed. This product is therefore promising. However, one trader has admitted to losing several positions due to the EA.
Conclusion
Thorex It is fully automated and user-friendly. Customers love it. The EA employs a risky strategy that can result in more losses than wins. It will most likely result in a negative risk/reward ratio for your trading account.
| | Min Deposit of 20$ | |
| | Min Deposit of 5$ |
