Forex Trend Hunter is an MT4 trading tool that is fully automated. It claims to work equally well for newbie and professional traders. This is a trend-following system that promises long-term profitability. The vendor states that this EA can help you make profits of several hundred pips for every transaction.
This FX Robot is developed and promoted by the Automated Forex Tools company. We could not find info on the location address or phone number of this company. While the vendor does not divulge info on the founding year, there is mention of a team of traders and developers with more than 12 years of experience in Forex. The vague description of the company info makes us suspicious of the reliability.
To know which automated system is the best, you need to look into many aspects like the developer/company background, the performance, the trading approach used, and more. This may be frustrating and tedious when you consider the number of automated products present in the market. Fortunately, we have made your task easier with our list of the best Forex robots.
Forex Trend Hunter Overview
As the name implies this is a trend-following system that claims to have the following features:
- Fully automated trading software without the need for manual input
- Inbuilt features for money management
- Advanced recovery feature that enables profits even in unsuitable market conditions
- Customizable settings
- Good protection from broker exploitation
- Free updates and support for a lifetime
- Opportunity to make more than 300 pips in one transaction
Compared to the competitor trend-based systems in the market, the features listed are very minimal and not sufficient to make this the best MT4 tool.
This FX Robot costs $55, which is a discounted rate with the original price being $69. Compared to the price of other competitor systems in the market, the price is very cheap and is a single upfront payment without any additional charges.
The features included with the package include a single real account and two demo accounts. You also get a free demo trial for 30 days. Support is present 24/7 and lifetime updates are offered by the vendor along with a money-back guarantee of 60 days.
How it works
As per the vendor info, the FX EA is easy to use as a detailed guide is given along with the license on purchase. The vendor recommends a minimum of $500 for starting but the recommended deposit is $5000. This MT4 tool works on four currency pairs- EURUSD, USDJPY, USDCAD, GBPJPY, and EURJPY.
According to the vendor, the Advanced Recovery feature in this FX Robot allows it to make profits even in the dynamic and constantly changing market conditions. There is no other info related to the working of the EA which is disappointing.
Other than mentioning it is a trend-following system, the vendor does not elaborate on the trading approach used. This lack of transparency makes us doubt the dependability and efficacy of the system. However, backtests are present for the EA. Here is a backtested report for the EURUSD pair done with the H1 timeframe done from 2010 up to 2021.
Modeling quality of 90% is used for this strategy test which is not sufficient to know about important details like the slippage, commission, etc. A total profit of 19992.52 is revealed for the account which had an initial deposit of 10000. The profit factor is 1.72 and the maximum drawdown is 25.47%. The percentage of profitable trades is 59.05%.
Two demo account trading results are present on the official site. Here is one of the demo USD accounts verified by the myfxbook site.
From the above screenshot, we can see leverage of 1:500 is used for this MT4 compatible account and IC Markets is the broker. The trading stats reveal a total profit of 20.87% and an absolute profit of 20.97%. A drawdown of 16.47% is present with the daily and monthly profits of 0.04% and 1.08% respectively.
For the account started in February 2020, deposits of $10000 have resulted in a balance of $12,037.37 on the execution of 82 trades. Profitability for the account is 76% and 3.58 is the profit factor value. From the trading history, we can see the lot sizes vary from 0.10 up to 0.50. The big lot size, low frequency of trades, and low profits reveal that the performance is poor and the approach is of a high-risk type.
We could not find user reviews for this FX Robot on trusted third-party sites like Forexpeacearmy, Trustpilot, etc. The absence of feedback indicates the system is not a popular one among the trading community.