Fastron is a rather new forex robot that’s recently entered the industry and tries to make a name for itself so I decided to dig into it to see how competent it is.
In this Fastron forex robot review, I’ll try to study the different aspects of this EA especially its results, and analyze them so that you can have a general picture that can help you to decide whether you want to buy it or not.
My first impression of the website of Fastron was …
…Mmm, OK! A standard typical EA sales page.
But when I started reading the content, to be honest, I didn’t find much.
The information there is not what you expect from a professional EA vendor. There is just some general info that basically says: this is a good EA from a professional trader. No explanation about the system, updates, support, Developer, or other things.
Although some of them like the system of the EA doesn’t matter to me, unless they’re fully explained and taught, others such as knowing about updates and how we can receive any support do matter.
Despite all that, the vender of Fastron forex robot has provided something that we need the most for our review and that’s analytical results from a third-party website.
So let’s start the review of Fastron forex robot by looking at an overview of this EA.
Fastron Forex Robot Overview
|Timeframe||n/a, Probably higher TF|
|Currency pair||All Forex Pairs|
|Real Account Test||Yes|
|MAX Drawdown||Balance: 1.7%, Equity: 60%|
|Average Expected Return||20.3% Monthly|
|Price||$99, $199, $310|
|Website||Fastron Forex Robot|
Fastron Forex Robot Trading Strategy
As I said earlier, the vendor doesn’t give us much about the system of Fastron EA or how it works. There is some general info saying that the EA uses MT4 standard indicators for entry points and it combines them with some strategies!
Basically nothing valuable
The only useful lines about the system on the Fastron website is that the EA isn’t affected by some brokers’ conditions such as spread, requotes, or even swap!
At first, that statement seemed somehow vague to me because a strategy is either short term, which becomes sensitive to spreads, requotes, or slippage; or it’s long term which is affected by swaps.
However after looking at the average trade length in the FXBlue stats of the account presented by the vendor, and of course the account’s statement, I figured out that the EA can be insensitive to all those factors to some extent.
Because first, the average trade length is 2.6 days which puts the strategy of the EA in the medium-term system category and second, the average winning trades is 14.41 pips and the average of losers is 28.07, therefore, it’s understandable that the EA is not too sensitive to those factors, however, both spread and swap influence the results to some degree.
Long story short, although brokers’ conditions don’t have a big impact on Fastron EA, they can change the results to some extent.
By the way, since some trades are kept open for a long time and also the drawdown of equity or floating P/L, I can say that the Fastron EA uses a grid system.
Fastron Forex EA Results
The vender of Fastron EA provides the results of a real account from one of the independent websites offering statistical service called FXBlue.
Well, having an account connected to one of the third party results sharing websites is one of the strong suits of a commercial EA, however, the quality of these websites is different.
Although FXBlue is a strong website with up to par analytical metrics, I prefer Myfxbook (another service) because it asks the strategy or EA sharers to have their accounts verified and indicates whether an account is verified or not.
Anyway, we still have the stats of a real account that Fastron EA traded on, so let’s analyze the account to see what we can find.
Age and Number of Trade
They are the two metrics that I always look at because it shows how well an EA reacts to the market in different period of time.
The results that are selected from a specific part of a system are worth nothing because every forex robot has its profitable days or months but it’s important to see its performance in the different conditions.
Other than that, a few months or a small number of trades are not reliable because they don’t give us enough data. We need a larger sample size for a robust analysis.
The minimum age that makes the results of an EA acceptable to some extent is one year and the minimum for the number of trades is 300 closed positions.
Of course, that’s a rule of thumb and can vary according to other factors but I think that’s a reliable gauge.
In terms of age, Fastron forex robot account doesn’t have a good lifespan. Fastron traded for 127 days on that account, from October 2019 to March 2020.
However, the EA has 809 trades in his statement that makes it somehow even but still; a four-month statement is not something reliable.
The Fastron account has grown 77.6% within those 4 months. That amount of return shows that the EA has made a very good profit but again it’s just related to 4 months and you don’t know how it would be if there was a one year statement.
It raised even more doubts when I saw that the EA stopped trading when it’s in the drawdown phase with 17 open trades worth $-452.30 in a $2228.09 account. I think that the vendor speculated that Fastron EA is going to either ruin the account or decrease its profit so he/she decided to stop the EA.
All in all, the account still shows 77.6% as profit but I don’t think that it would have lasted if the vendor had let the EA trade.
This metric shows how much risk an EA is willing to take or how aggressively an EA trades.
The maximum number that keeps an EA from being rogue and trading aggressively is 30%. Under this number is considered low risk and above that belongs to risky forex robots.
When you look at the drawdown of Fastron Forex Robot, you’ll see that it has a very low MAX drawdown, 1.7%, that puts this EA on the category of low drawdown or risk forex bots.
But it’s just the drawdown of balance. It means this drawdown is calculated for closed positions or trades not open ones. As a result, if the account goes deeply in the red but then recovers and goes back in the green, no drawdown is taken into account.
For finding out how much a strategy or EA is prone to lose, we need to look at the drawdown of equity or floating P/L.
By checking out the historic floating P/L of Fastron Forex EA, you can see that the maximum equity drawdown of this EA is more than 60% which is much further from its balance drawdown.
That’s why we can’t categorize Fastron EA as low risk or low drawdown. It’s actually the opposite and this EA is considered too aggressive and risky.
We talked about gained profit and saw that this EA has gained around 77% as profit but how the gained profit has been distributed to the months that the EA was trading?
I mean, do you think an EA that has made most of its profits from one or two months is as worthwhile as an EA that its profits are distributed evenly among all its trading lifespan?
An EA can be profitable for one or two months but stop trading for several months or lose money for those periods. That indicates that the EA is not consistent in terms of making profits.
Regarding Fastron EA, you can see that this forex robot has traded every month so the results are distributed between all the months of the statement; however, the profits aren’t distributed at the same level.
It’s not a big deal though because in trading you always have some more profitable days or months and it’s understandable.
In spite of that fact, I prefer strategies that their gains are shared more evenly but again it’s a minor problem and we can’t see that as an Achilles heel of Fastro forex robot in this review.
The only way that you can have access to the vendor of Fastron EA is email; however, I don’t think that you receive good support from them.
The reason is, I emailed them and asked a few questions. First off, I didn’t receive a response for two days and after that, they replied in few words, which wasn’t the answer to my question though.
It seems that they didn’t understand my question at all because their response was basically a misunderstood paraphrase of my question.
Overall, poor customer service.
Fastron Forex Robot Price
There are 3 plans that you can choose from.
In the Basic plan, you pay $99 and you can run Fastron EA on 2 real accounts and one demo account.
If you pay $199 and buy Premium plan, the EA can be run on 4 real and one demo accounts.
And Unlimited plan comes with unlimited real accounts and one demo and for owing it you need to pay $310.
The price of Fastron EA is in the medium category, it’s not too expensive and not cheap as well.
They also have a 30 day money back guarantee that you can find it in the terms section of their website.
They say that they will take your money back if you use their recommended settings and run the EA for the first 30 days without interruption and get a larger drawdown than expected.
However, they don’t say that what is considered as expected drawdown. It definitely isn’t 1.7% as you see in the result of the FXBlue account. So what number is acceptable for them as the normal drawdown of FastronForex EA?
When you don’t see that in the terms section on an EA website, it means a refund is not gonna happen because the condition is unclear and they can interpret that as they desire.
The Bottom Line
In this Fastron Forex Robot EA review, I tried to go through the details of an account that the EA was run on to exploit the pros and cons of it.
The result of the account isn’t bad in general, however, the EA trades too aggressively and risks too much.
Moreover, the data is not reliable because first, the age of the account is not long enough and second, the EA stopped trading when it went into drawdown.
What it tells me is that the developer of the EA wasn’t confident about the recovery of drawdown and thought the account turned into a loser so he/she decided to terminate the account.
To wrap it up, I don’t think that you can make constant profits should you run Fastron EA on your account. You may gain some profits by chance or lose your account in the first place but nothing steady and reliable would come out of Fastron Forex Robot regarding what I see from the results.
There are some alternatives that you can find in the best forex robots article.