FXGoodWay Review

by Forex EA Top Team
FXGoodWay

FXGoodway is quite a well-known EA among the Forex community. This robot is for those who want to make profits, not losses, devs mentioned. Now the EA is available in 2 different packages: FXGoodway and FXGoodway X2 (updated version). 

FXGoodWay Features

  • The robot trades fully-automatically on the MT4 and MT5 platforms.
  • There’s a multisession logic.
  • We can trade Settings1, Settings2, or both packs of Settings at the same time.
  • The minimum deposit should be $700.
  • It works with any type of accounts and any broker.
FXGoodWay Features

Pricing

FXGoodWay Pricing

The EUR/USD package with two packs of settings costs $315. The USD/CHF pack costs $275. Both packages are featured by a single license for any type of an account, free account changing, free and welcome support, and updates. There’s a 30-day money-back guarantee provided.

How It Works

  • The EA was designed to trade EUR/USD and USD/CHF currency pairs based on a Grid strategy in the direction of the trend.
  • The system decides what pattern should be used to open a Grid of orders.
  • The system calculates Lot Size automatically based on the account balance.

Trading Strategy 

The robot is based on Grid strategy. The dev tells us that the EA trades ‘in the direction of the trend using certain patterns (sessions) of settings’. With the help of a unique system of recognition of the market condition, FXGoodWay decides when and what pattern to use in the current market situation.

FXGoodWay Trading Strategy
FXGoodWay Trading Strategy
FXGoodWay backtests

There are three backtests EUR/USD set1, EUR/USD set2, and USD/CHF. This is the last one on the H1 time frame. The data unites almost a six-year period. The modeling quality was 90%, with 30 pips spreads. An initial deposit was $20k. The total net profit was $866k. The Profit Factor was 2.21. The maximum drawdown was high as well (38.90%). The robot closed 2742 deals with 64% of the win-rate in both directions.

Trading Results

FXGoodWay Trading Results

The developers provided three widgets with real-account trading results.

FXGoodWay myfxbook

The robot runs a real USD account on FXOpen. It uses technical indicators to trade automatically with 1:500 leverage on the Metatrader 4 platform. This account has a verified track record. It was created on March 27, 2020, and funded at $5000. Since then, the absolute gain has become +130.37%. An average monthly gain is +9.92%. The maximum drawdown is high – 21.18%.

FXGoodWay advanced statistics

The EA closed 260 deals with 3638 pips. An average win is 31.72 pips when an average loss is -29.73 pips. The win-rate is available only for the SELL direction – 71%. An average trade length is two days. The Profit Factor is 3.18.

FXGoodWay trading results

All trades were opened only in the Short direction.

FXGoodWay trading results

The EA focuses on nigh scalping more than on trading for the rest of the day.

FXGoodWay trading results

Tuesday is the favorite day to trade for the robot.

FXGoodWay trading results

The account is run with incredibly low risks.

FXGoodWay trading results

As we can see, the EA uses a little Grid of orders.

FXGoodWay monthly gain

As we can see, all months were profitable. December’s profit is questionable compared with the other months.

Customer reviews

Unfortunately, we have found no customer review neither on FPA nor on the other third party website. 

FXGoodWay Customer reviews

The company

FXGoodWay price

These EA’s packages are supported with good rates on the Forex Store.

Willing to try automatic trading?
See the best forex robots rating to make the right choice.

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