Forex Tester 5.0 is the latest release of the forex strategy tester and trade simulation software. This is a trading simulator and a strategy tester software that is ideal for serious forex traders. Even for those who are just beginning to trade, the Forex Tester software is a must have.
The Forextester software allows you to back test your trading strategies on forex, stocks, commodities and even custom instruments.
When it comes to the world of trading, there are numerous software that are available. However, not many have stood the test of time like Forex Tester has. The developers behind Forex tester have been around for decades. Therefore, we can certainly vouch for the longevity and validity of this trade simulation and forex strategy tester software.
As a result, it goes without saying that when it comes to reliability and the functionality, Forex Tester 5.0 wins. This forex strategy tester stands head over heels apart from the rest of the competition. In fact, this is probably the most important forex trading simulator and strategy tester that you will need in your trading journey.
This is a review of the Forex Tester 5.0 platform. For those of you are who are impatient, you can take a look at the video I made below as well.
What is the Forex Tester 5.0 software?
The Forex Tester 5.0 is a trading strategy and a trading simulation software. But unlike its competition, the forex strategy tester and trading simulator stands out from the rest, due to the fact that it was built by traders, for traders.
There are a lot of features in the Forex Tester 5.0, which is simply astounding. And when it comes to reliability, this software has been around for decades. Because of this, chances are that you might have come across Forex Tester at some point in time as well.
You can use the Forex Tester 5.0 to:
- Practice how to trade the markets (at your own pace)
- You can back test any automated or manual systems that you might have
- Back test any custom indicators that you have developed
- View the price evolution at your own pace (by using the slider)
Forex Tester 5.0 Features – Summary
The Forex Tester software looks strikingly similar to the MT4 trading terminal. And this is for a reason! Because if you are using the MT4 or the MT5 trading platforms, you will find it easy to use this trading simulator.
But that’s not all. Even those who are not very familiar with MT4 or MT5 trading platform, will find the learning curve to be quick and easy.
The entire interface is built to make the user feel comfortable. Even complete beginners to trading will find it easy and intuitive to use. But we do not recommend that you should purchase this Forex testing tool right from the word go.
It is advisable that you have a good level of trading experience in your kitty first.
Forex Tester software features
- Ability to use historical market data for visual trading
- You can make use of Expert Advisors (mq4 files) to visually back test your strategy
- It is easy to use a custom mq4 indicator for visual back testing
- Quickly back test custom trading strategies using a choice of indicators (default and custom)
- You have the flexibility to choose from Forex, Stocks, Futures, Metals and many more
- Ability to create your own instrument and upload timeseries data
- Use custom charts (Renko and Range bars)
Who is Forex Tester 5.0 useful for?
The Forex Tester is a trading simulator and strategy backtesting software. It is useful if you are a serious trader or considering online trading as a potential.
In your journey as a trader you have come across moments where a trading system looks absolutely perfect when presented. But try using that same on your trading and the live trading results will be totally different. Utilizing a new trading strategy in a demo trading account can help. But the fact that you don’t have much control on your trading system.
When you make use of a trading simulator such as Forex Tester, it allows you to control the market as well. This means, that you can make use of the timeseries to slow or fast and this enables to trade on the historical data.
The Forextester trading simulator is a great feature which allows you to practice your trading strategy and build confidence.
One of the biggest reasons why a trading system that apparently works for some but doesn’t work for you is the fact that there is more to the strategy than just buying and selling. Getting familiar with your trading system can help you to better your odds as a trader.
Forex Tester software allows you to do just that!
Even strategy developers will find the Forex Tester software to be very useful. This will enable you to truly fine tune your trading strategy to the point of including the risk management aspect as well.
How must does a Forex Tester license cost?
- Firstly, you can download a demo version of the Forex Tester software
- This demo version limits you to just three currency pairs and for a limited timeseries data. The demo version will not allow you to save any changes, but more than enough for you to test this backtesting software
- Forex Tester software demo version limits testing to one hour.
- The base version of the Forex Tester costs $149 (or $279 if you purchase two licenses). Historical data is free, but it is of medium quality.
- With the Standard license, you have the option to choose between a monthly or an annual subscription for data. Final cost for annual subscription comes to $290 a year.
- A Forex Tester software VIP license offers you to choose high quality data with an annual subscription. There is also a cost for the historical data, which is $299 a year. This is just $9 extra comparing to the standard license.
The below table summarize the pricing plans for the Forex Tester software
In short, when you go for an annual data subscription, you pay less for the Forex Tester 5.0 license.
For traders who prefer just paying once, there is also a lifetime payment option available. And for those who are tight on the pocket, you can buy the basic version and upload data for any additional instruments that you may want to use manually.
Every purchase of the Forex Tester software comes with a 30-day money back guarantee!
How can Forex Tester software help you as a trader?
The next time you blindly fall for a trading strategy, you can make use of Forex Tester. Traders can easily import any mq4 file into Forex Tester software. With this, you can back test the indicator or strategy with ease.
Trading in real time as the markets evolve can be difficult. Forex Tester allows you to get comfortable with your trading system.
You are no longer limited to your demo trading account and only from Mondays through Fridays. This is because the Forex Tester software allows you to practice your trading strategy even when the markets are closed.
This can be a great way for you to jump start your trading system over the week and prepare for the week ahead.
Since you are trading on the trading simulator, you can easily apply and replicate the same market conditions as your broker would.
Before you purchase the Forex Tester software
- Make sure to download the demo version and test it out yourself
- Forex Tester works best on Windows machine. Mac users will need to make use of the Virtual Machine or Parallels
- The Forex Tester software demo version limits your back testing to one-hour. You can only use three currency pairs (EURUSD, GBPUSD, USDJPY) in demo version
- There is a 30-day money back guarantee. Payment can be done using Paypal, Webmoney, Credit/Debit card