ForexTester Software Review

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ForexTester Product Offering

ForexTester is an effective trading simulation and backtesting software. Traders use the platform to practice trading and test strategies before entering the forex market. ForexTester software also has a crypto tester for those who want to try their hand at crypto trading. The backtesting software helps traders to hone their skills before putting any funds at risk.

Data is loaded directly onto the ForexTester platform, so you need no internet connection to run forex backtesting. This means that you can practice your strategies anywhere and at any time. ForexTester offers users access to 10 popular forex strategies, so you can get the show on the road and start practicing as soon as you sign up. 

Users can choose one of three packages Basic, Standard and Super. If you’re unsure, you can test the software free of charge before you commit. The test is subject to limitations, but it will give you a good idea of how the system works. On the test version, you can to the software but with one month’s historical data, only the capability to run a single simulation for an hour at a time and the inability to save or load projects. The full subscription version offers much more. 

How the Forex Tester Simulator Works

The trading simulator is easy to use and works as follows.

• Choose a historical timeframe to run your forex backtesting
• Take a close look at prevailing market conditions during the timeframe
• Select a currency pair
• Open a trade
• Analyze the results as you look forward and backward across time
• Simultaneously test multiple currencies over several time frames to see how they compare 
• Run detailed statistics to compare different strategic results

You define the spreads, leverage and lot size so you can test real-life scenarios before you commit your money to the strategy. If you subscribe to Super ForexTester 5, you can also set floating spreads to ensure that you simulate circumstances as they exist. 

You can upload automated strategies and use the AI backtesting software to optimize your trading plans. 

ForexTester Features

The platform offers users access to historical news records and drawing tools. If you subscribe to the Basic package, you’ll have access to 18 symbols compared to the 860 that include exotics available on the Super version. Those subscribing to the Super ForexTester 5 package can also use tick data and floating spreads. Super users can practice trading in commodities, metals, stocks, futures and indices as well as forex. 

ForexTester logs all trades so you can use the records for later analysis. You can also export all your records into a spreadsheet if you prefer to use Excel tools for further investigation. 

ForexTester offers multilingual customer support. You can expect telephonic assistance in English, Spanish, Japanese or Russian. There are also online chat facilities and an email address for logging queries. In the community forum, users can interact with one another. Users also have access to TeamViewer for real-time problem resolution. 

Your personal information is safe and secure on the ForexTester site. ForexTester servers are protected using Secure Sockets Layer (SSL) technology. All data is encrypted before it goes through the payment gateways. ForexTester does not retain any personal payment information on its servers. 

You will need a user license to start using ForexTester. The fee for a single license is $399, but ForexTester runs promotions from time to time, discounting license and subscription fees. Claim a special 10% discount now with your BENZ23 coupon. 

The Basic package is free to use. If you upgrade to the Standard or Super package, you can pay monthly, annually or with a single lifetime subscription. 

ForexTester offers a 14-day money-back guarantee. 

Onboarding is easy and takes a few moments.  

The ForexTester platform is intuitive and easy to navigate. If you’re familiar with the MetaTrader4 or 5 platforms, you’ll quickly get used to using ForexTester as the screens are similar. You can access the software in 16 languages. 

ForexTester has loads of educational tools, including an interactive training course, video guides and a written PDF download. Users can also head to the FAQ page to find quick answers to questions.

ForexTester vs. Competitors

Many broker platforms like MT4 and Forex.com offer traders demo accounts, allowing users to test their trading skills. Demo accounts usually have an expiry date or require you to hold an amount in your account if you want to use the demo. Some charge inactivity fees. Demo accounts don’t offer the full range of tools you will receive with ForexTester. Web-based social trading platforms, like Tradingview, also give users access to trade backtesting. 

ForexTester gives traders at all skill levels a tool to practice and test forex trading strategies.  Traders use historical data to track and adjust entry and exit strategies. They can simultaneously backtest several currencies in various timeframes, gaining insights for future trading. 

Users can download backtests onto a spreadsheet and use projects to save related tests for easy reference. Traders can hone their skills without risking any funds and then find a reputable broker to start making trades on a brokerage platform. 

ForexTester offers users educational tools and quick and responsive customer service in a secure environment.

Claim a special 10% discount now with your BENZ23 coupon.

Frequently Asked Questions

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