Celestial Trading Tools is a copy trading platform to help traders in trading and an automated trading provider with global expert advisors. Let us go through the website to see if they have any potential.
The website of Celestial Trading Tools looks neat and professional and you can navigate through options easily. However, the website does not provide any information about who the developers are, where they are located, and what kind of trading experience they have. So, it is not wrong to say that the site lacks transparency. There is no information about the price of using their expert advisor.
|Type||Automated trading/Copy trading|
|Currency Pairs||AUDJPY, AUDUSD, USDCAD, NZDUSD, EURGBP, NZDJPY, EURJPY, EURUSD|
|Recommended Min. Deposit||N/A|
Automated Trading Strategy
Celestial Trading Tools does not provide any information on the EA’s trading strategy. We only know that the service uses complex mathematical analysis within preset parameters for executing trades. However, an analysis, parameters, or general methodology is not provided by the developers. It is disappointing that the developer mentions “transparency” so many times on the website but does not provide information about the pre-programmed strategies and equations. To attract customers in the automated forex market, a detailed explanation is crucial. Especially in this case, where the vendor is new in the market and does not have enough experience in trading.
No backtest data is provided on the website. There are only client reviews and video testimonials. However, we cannot trust those. Not only the developers do not explain their trading strategy but they do not provide backtest data either which is an even bigger reason to not use the EA. Backtest results help you understand how the strategy might have worked on past trades. So, for a new EA that does not have much trading history, backtest data analysis is the best way to know its ability. So, it would be right to say that the service is not reliable.
Celestial Trading Tools Live Trading Performance
Celestial Trading Tools has a trading account on Myfxbook that started its journey on April 13, 2018. One looks at the account and we are very disappointed. It looks very suspicious. First, the track records are not verified. Secondly, almost all stats are hidden. We can see that the gain and absolute gain are +579.36% and +83.34% respectively. The daily and monthly gains are 0.28% and 9.45% respectively. The drawdown rate displayed here is pretty impressive, it is 31.51%. However, we cannot trust this stat because all other stats like deposits, withdrawal, balance, profit, and equity are kept hidden so we cannot see them. Even after keeping the data hidden, the account claims that it has maintained the equity of 100.00%. We have no reason to believe this. Lastly, the account was updated on April 28 for the last time. So, the chart is not updated either.
|Myfxbook Account||Celestial Trading Tools (Real GBP)|
|Started||April 13, 2018|