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FX Multi Trader EA Review

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FX Multi Trader is located on the MQL5 marketplace, it was uploaded by its creator Keisuke Tsutsui on the 15th of March 2020, it received its most recent update on the 20th of April 2020 and is currently at version 2.42.

Overview

FX Multi Trader is an expert advisor that was developed for the MetaTrader 4 trading platform, it was created as a multi trading EA that also has a standard market strength function for the major currency pairs (USD, JPY, GBP, CHF, CAD, AUD, NZD) and also JPY crosses.

The system apparently has a special intelligent multi pairs recovery system which is actually another EA, the bad news is that this is a martingale system of recovery which can lead to additional drawdown and if left unchecked, it can blow the account. The martingale strategy works by looking at the current trade, if the markets move against it, it will place an additional trade in the same direction as the first trade, but at a large lot size, if it continues against the trade, and additional trade is open, again slightly larger, this continues until either the markets revers and it closes in profit, or the account blows. It is a dangerous strategy that most should avoid, even with people with large accounts.

It is recommended that you use a balance of at least $400 for each currency pair that you use, you should also use an account with at least 1:300 leverage. It has been optimized to be used with the M5 timeframe rather than any others.

The EA comes with a fee different parameters, these can be altered to change the way that the Ea functions. Some of the settings include whether to use martingale recovery, the loss cut mode, maximum distance in pips, maximum order numbers, the multiplier to use, currency power settings, what information to display on the screen, and more.

This is the full version of the EA, there is a lite and free version available too which some added restrictions.

Service Cost

The FX Multi Trader EA can be purchased with a single payment of $240, purchasing it will get you up to 5 activations of the EA and does not come with any other limitations. There is also the option to rent the EA if you prefer that way of accessing it, this can be done on a monthly basis and will cost you $40 per month. A free demo version is also available, the free version is limited to a lot size of 0.01 lots and it can only be used with the UEURSD and USDJPY currency pairs.

Conclusion

At the time of writing, there were no reviews or ratings from those that have purchased or rented the EA, this makes it hard to know whether they are finding it profitable and useful. There are three comments which are all from the developer of the EA, they are providing some tips and new settings for the EA. While this does not show the sort of customer support that you will receive, it does at least show us that the developer is active in their support and will be around to offer help should you need it.

This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/47293

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