Thorex is a Forex trading robot that can be found on the MQL5 market. The presentation includes explanations about how the system functions, its list of features, and what we have to expect from it. So, it’s the right time to check everything out.
Detailed Forex robot review
We have various details explained about how the system functions and what features it has on the board.
- The robot can work completely automatically on a terminal. So, we may do nothing in addition.
- We can use it on the MT4 or MT5 terminal.
- There are 15 separated EAs behind one trading solution.
- We can work with the following pairs: AUDCAD, AUDUSD, CHFJPY, EURAUD, EURGBP, EURJPY, EURUSD, GBPAUD, GBPCAD, GBPJPY, GBPUSD, USDCAD, and USDCHF.
- We are allowed to customize the combination of risks and pairs to create our own portfolio.
- All strategies trade independently.
- It’s possible to turn some of them off.
- It was tested on the tick data received from various brokers.
- The robot doesn’t work with night scalping, martingale, grid, cost averaging.
- There will be one trade placed on the market at a time.
- It works with different stop losses from 17 to 88 pips.
- We can receive free updates when needed.
- We should work on the balance of $250.
- The leverage is 1:30.
- We have to trade with 0.02 lot sizes for every $1000.
- IC Markets is a suggested broker.
- We have to attach the system to the H1 time frame.
- The robot allows to enable and disable each of the strategies in the EA independently.
Lorenz Vauck is a developer from Germany with a 2455 rate. His portfolio includes two products and four signals. His products have a 4.3 rate based on six reviews. It’s a good sign.
Thorex strategy tests
The robot was tested on the 99% history quality with 13 cross pairs involved. An initial deposit was $1000. The total net profit has become $4258947950025. The maximum drawdown was 5.72%. It worked with a profit factor of1.69. There were 100,368 deals performed with a win rate of 64-65% on average.
Thorex live trading results
The system performs orders on the real EUR account that was created on IC Markets. The leverage is 1:500 and the platform is MT5. The maximum drawdown is 31.8% when the maximum deposit load is 4.4%. Its win rate is below average–59.9%.
The system couldn’t show predictable and stable performance. It closed May 2022 with losses.
The robot performs orders on the market without Martingale.
There were 543 deals performed. The best trade is 6.71 EUR when the worst trade is -8.09 EUR. The recovery factor as well as the profit factor are impossibly low: 0.13 and 1.03, respectively. An average monthly loss is -15.10%.
We can purchase a copy of the system for $459. Also, it’s possible to rent it out for $196 quarterly, $314 for half a year, and for $433 annually.
People experience good performance with this EA. Traders claim that the vendor offers good trading tools and provides excellent customer support.
Thorex is a trading solution that works with fifteen trading strategies on the terminal. Alas, the robot couldn't prove that it can master all of them well. It closed May 2022 with loses. Moreover, the pricing is a little bit high and the system does not comes with a refund policy.