FXQuasar Review

Nov 15, 2021 06:45 PM ET
FXQuasar Review

FxQuasar trades only on AUDUSD and is available for an asking price of $279. The algorithm is present for both MT4 and MT5 platforms and comes with technical support available 24/7.

Traders can see the robot on the website, where all the information is detailed under a single page. The developer presents it neatly but makes it hard to find the relevant details as there are no subheadings.

FxQuasar Strategy

Type

Fully-automated EA

Price

$279

Strategy

Grid and martingale

Compatible Platforms

MT4 and MT5

Currency Pairs

AUDUSD

Timeframe

M15

Recommended Min. Deposit

N/A

Recommended Deposit

N/A

Leverage

N/A

Trading strategy explanation

The developer states that the algorithm does not use any indicators but employs internal algorithms for trading. There are six sessions in work within the robot. The explanation goes like this: three of the session's trades use buy while the rest open sell orders. From the history present on Myfxbook, we can see some sort of martingale and grid under operation.

Trading history.

How does the EA work?

Traders can install the robot in the following steps:

  • Purchase the system from the provider through their website and provide the account number.

  • When the provider sends you the robot, place it on the chart to start trading.

Features

The robot has the following features:

  • One lifetime license for the algorithm

  • Technical support that is available 24/7

  • The robot comes for both MT4 and MT5

  • There are live records available for tracking performance

Customer reviews can not be found anywhere, which shows the lack of interest from traders in the product. This shows that no one has tested the system as of now. Without any feedback, we cannot get any good views of other traders.

Backtest data analysis

Backtesting results are available for AUDUSD, where the relative drawdown was around 92.62%. This value is extremely high, giving us the idea that the system can cause a high loss of account balance. The winning rate was 74.6%, with a profit factor of about 1.81. With a starting balance of $1000, the robot tanked an average profit of $3425803.93.

There were 1362 trades in total, in which the best trade was $581720.92, while the worst one was -$220158.39.

Backtesting records.

Live trading data analysis

Verified trading records are available on Myfxbook that show performance from July 06, 2020, till the current date. The system made an average monthly gain of around 11.81%, with a drawdown of 32.77%. The stated drawdown is high, which means that the system loses nearly half of the equity. This can badly impact the psychology of a trader.

The winning rate stood at 74%, with a profit factor of 1.82. The best trade was $1149.54, while the worst was -$437.46 in a total of 319 trades. The developer made $2000 in deposits and $0 in withdrawals. 

Live records.

FXQuasar Strategy

Myfxbook Account

Real (USD), FxOpen

Started

July 02, 2020

Deposit

$2,0000

Balance

$12,520.73

Gain

526.04%

Daily

0.37%

Monthly

11.81%

Drawdown

32.77%

Profitability

1.82

Vendor transparency

The developer does not disclose their name or portfolio on the website. This is a poor approach which leads us to believe that the robot is not profitable and the author is hiding behind the bad strategy. 

Review summary

Pros

  • Live records on Myfxbook

Cons

  • There is not enough transparency on the strategy

  • No transparency on author

  • Uses grid and martingale

FxQuasar uses risky strategies, which makes it an unfit algorithm to use. We cannot put it on our live accounts as there is always a chance it may receive a margin call on the account. This can affect the psychology of a retail trader badly. Beginners and amateurs should avoid it as of now.

Rating: 5/10


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