Forex Tester Review

Keeping with the theme of forex simulators another popular software platform is forex tester

(If you haven’t already done so you may want to read my previos review on forex simulator.)

Allow me to start by saying that forex tester is a much more refined package than Forex Simulator. In fact, user of MetaTrader will recognise the interface almost immediately.

So in what ways is Forex Tester different besides cosmetically?

Here’s a list of things I like about the Forex Tester platform:

• Stop and limit entry orders (as well as market orders) - also applies to exit orders
• You can program a dll using their API library and employ your own strategies
• You can import your own csv, txt or MetaTrader 4 (hst) forex history files - I like it how they use free forex data from sites such as Forexite and Alpari
• You’re not restricted to just forex data you can test anything - even stocks or indices!
• You can exit positions partially
• You can have multiple charts on multiple time frames
• You can take screen shots of your trades
• You can export your account trading history so that you can analyse your trades in Excel
• They provide a chart on the equity curve of your trades
• You can add comments to each trade so that you can analyse your performance better
• They have support by way of a public forum
• The ability to import data and append it to already existing data
• And they allow you to test their platform for free for 14-days

The enhancements that I’d personally like to see in the Forex Tester software, which are also enhancements I’d like to see in Forex Simulator, would be:

• Including economic announcement alerts
• When placing an order slow the speed of the chart down to, at most, the time event of each tick that is plotted on the chart (i.e. 1 minute)
• Automatically take snapshots of each trade entry and exit
• Randomly select an entry time to trade and preferably hide the X-axis

How much does it cost?

The Forex Tester is sold at a good price program selling for only US$135.

In summary the Forex Tester is a better program than it’s competitor Forex Simulator. I wouldn’t hesitate in recommending this product to anyone who is seeking to “train” their mind and better their forex trading.

Test their platform for free and see whether it fits in with your trading requirements.