FXQUASAR is a 100% Forex trading robot that is compatible with the Metatrader 4 and Metatrader 5 trading platforms. As per vendor claims, this EA works on any account type and can bring profit to traders. However, we need to analyze the performance of this system at our own end before reaching a final verdict.
There is virtually no information on the parent company behind this Forex EA. The vendor has not shared any contact details or an official address. We don’t know when it was founded or whether it has built similar systems in the past. The lack of vendor transparency makes us think that this system cannot be trusted.
Before purchasing a Forex trading system, we need to conduct a detailed analysis of the system. There are a lot of scam services available on the market today, so every platform needs to be analyzed in terms of trading performance, features, price, and trading strategy.
Unfortunately, we don’t know when this robot was launched. However, the live trading account has been active since July 06, 2020. To date, it has no notable achievements.
What is behind the FXQUASAR EA?
This Forex robot does not trade using indicators. It works on the basis of internal algorithms and quotes for assessing the market situation. Also, it analyzes the price shifts for the recent past. Based on the outcome, it decides whether to initiate an order or stand by and in which direction to trade.
FXQUASAR only trades in AUD/USD. It is compatible with brokers that are regulated by the NFA. The robot has six different sessions. Out of them, three trade exclusively using long positions, and the rest are for short positions. Each session has its unique way of analyzing the market. The sessions do not depend on each other while trading. Looking at this information, we cannot tell how the sessions work. The vendor should have explained the differences between them.
This EA has a risk-limiting system which, according to the vendor, protects you from losses. Again, they have not clearly explained how the system works. The lack of details when it comes to the features is not a sign of a reliable robot.
We have no idea about the trading strategy used by this EA. The vendor has not shared enough information on the trading scheme, which is a major red flag. Seasoned traders always look for strategy insight, so this comes as a major disappointment.
This backtest was conducted on the AUD/USD pair from 2015 to 2021 for the H1 timeframe. The EA placed a total of 1362 trades and generated a net profit of $3425803.93. It had a win rate of 74.60%. The relative drawdown for this backtest was incredibly high at 92.62%, indicating a high-risk strategy.
You can purchase FXQUASAR for the price of $279. This provides you with a single lifetime license. You can change the account number online if you wish. The vendor provides you with a user manual along with free updates. There is a 30-day money-back guarantee for this product.
Trading performance of FXQUASAR
Here we have the live trading results for FXQUASAR presented on a verified Myfxbook account. To date, the EA has placed 317 trades through this account, winning 74% of them. The win rate is more or less similar to what we saw in the backtest. Although the drawdown of 32.77% is lower than that of the backtest, it is still quite high. The daily and monthly gains are 0.37% and 11.88% respectively.
Every user can access customer support on a 24/7 basis. However, we don’t know through which medium the support is provided. The website doesn’t have live chat functionality and the vendor has not shared an email address.
We were unable to find any user reviews for this Forex EA on third-party websites. Thus, we can assume that not many people know about the existence of this system.