Thorex Review

by Forex EA Top Team
Thorex

Thorex provides the flexibility of using any combination of strategies to make your own portfolio and risk. This FX robot works on the MT4 or MT5 platform and is made of 15 separate EAs in a single product. It is a fully automated system working on multiple currency pairs. As per the developer, this ATS does not use risky methods such as the Martingale, night scalping, grid, recovery trades, and entry averaging. 

Lorenz Vauck is the author of this FX EA. He is based in Germany and has more than 6 years of experience in creating FX trading tools. Lorenz has two products and 4 signals to his credit. You can contact him only through the direct messaging option on the MQL5 site as he provides no other support methods. 

When choosing an FX robot, there are many things you have to consider and evaluate such as the features, performance, support, pricing, and more. Since it is not possible to analyze every system on the market, we have come up with an easy and effective way. Have a look at our list of the best FX robots which has been created by our experts with meticulous care. All you need to do is choose a suitable one from the list.

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Thorex offering 

Here are the main features that the author focuses on for this FX EA:

  • The FX EA comprises 15 EAs with all the strategies capable of working independently.
  • AUDCAD, AUDUSD, EURGBP, EURAUD, EURJPY, CHFJPY, EURUSD, GBPAUD, USDCHF, USDCAD, GBPUSD, GBPJPY, and GBPCAD are the main currency pairs the FX robot is effective on.
  • This ATS executes one trade at a time for a system with each trade protected by a tight SL ranging from 17 pips to 88 pips. 
  • Free ongoing support and updates are provided for eliciting the best performance.
  • The system has been backtested on 35 years of historical data.
  • A minimum of $250 is the recommended balance.
  • The recommended minimum leverage is 1:30.
  • The IC Markets broker or a broker with low spreads is recommended.

Pricing

You can purchase this FX EA for $399 which is a limited launch offer. As per the author, the price will increase by $10 daily. A free demo account is available to test the system. The developer does not reveal info on the features you get with the packages. There is no money-back guarantee which makes us suspect the reliability of the system.

How it works

This FX robot works by executing one trade at a time. It has a portfolio combined equity growth stability of more than 99% and a maximum stagnation of fewer than 90 days in 35 years. The return to drawdown ratio is more than 400. 

Trading strategy

As per the author, the EA works on autopilot using the strategies you have chosen. It secures every trade with a tight SL. The strategies can be used independently and activated as per your requirements. They have uncorrelated daily losses and profits. There is no other mention of the approaches. We find the info provided is insufficient to assess the system. 

A backtesting report is present on the MQL5 site. The report is shown below:

Backtesting results of Thorex on the MQL5 site.
Backtesting results of Thorex on the MQL5 site.

From the above strategy tester report, we can see the EA had generated a total net profit of $4,258,947,950,025 for an initial deposit of $1000. The testing was done from 1986 to 2022. A total of 50194 trades were executed with 65% profitability and a profit factor of 1.69. The drawdown was 5.72%. The low drawdown and high profits show that the approach used is an effective one.

Trading results

A real EUR account using the high-risk-all strategies automated mode on the MT5 terminal is present. The account verified by the Myfxbook site is shown below.

Growth curve of Thorex on the Myfxbook site.
Trading stats of Thorex on the Myfxbook site.

From the above stats, we can see the system is on a losing streak. It has a 2.37% total loss with a daily and monthly loss of 0.02% and 0.46% respectively. The drawdown is 32.59% for the account that started with a deposit of €200. A total of 613 trades have been completed with 59% profitability and a profit factor value of 0.99. The trading history shows a lot size of 0.01 is used. While the lot size is low, the drawdown is high. The growth curve shows a series of losses indicating poor risk management and an ineffective approach.

Customer reviews

Unfortunately, we could not find user feedback for the FX EA on reputed third-party sites such as Forex Peace Army, Trustpilot, etc.

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