Forex Tester review: Pros, Cons, and Traders Ratings.

4.327 · 10 REVIEWS

Forex Tester Software, Inc

Updated: May 1, 2022 · ForexTester.com  · Is this your company?

What is Forex Tester?

Forex Tester is a forex software company that offers forex trading simulator where traders can practice forex trading, run backtesting on trading ideas, strategies etc. meanwhile get to learn how to trade forex as well.

ForexTester.com doesn't support binary options trading simulation.

Please read Forex Tester Reviews below and share your practice experiences with this trading simulator.

Forex Tester
Related sites include ForexSpeedUp.com and ForexCopier.com.

Live discussion

Join live discussion of ForexTester.com on our forum

Go to forums

Video

Your company video here? Contact ad sales

4.327 · 10 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Traders Reviews

manchester, United Kingdom,
Jul 11, 2021,
Registered user

Excellent

Service use: Other

Length of use: 0-3 Months

They are fast and easy to talk you. And super quick at giving back refunds.
Great team and software. Just didn't suit my laptop.
 
Zagreb, Croatia,
Feb 8, 2021,
Registered user

A great trading simulator

Service use: Live

Length of use: 0-3 Months

Forex Tester 4 is definitively the best backtesting application in the market. It is a very powerful trading simulator that is especially good for manual trading strategy backtesting. It is available at a very affordable price. The application itself is very intuitive and easy to use. When I install it for the first time, I needed less than a minute to realize how to start the backtesting process. The application interface similar to MetaTrader's, so most Forex traders will quickly learn how to use it. I like the variety of options that are available for setting the speed of the testing process. You can trade from the chart, enter marketing and pending orders, set stop loss, and take profit levels. Everything is like in real-time trading. It offers almost all the most popular indicators. There is a possibility to add custom ones. However, those indicators have to be coded in Forex Tester's file format. There is an online tool available that will convert the mql4 file to Forex Tester 4 file. You can also backtest expert advisors.
I highly recommend Forex Tester 4 to both beginners and to more experienced traders.
 
Sydney, Australia,
Dec 18, 2020,
Registered user

Use of Forex Tester and thebenefits of not blowing the trading account

Service use: Live

Length of use: over 1 Year

I started to use Forex tester when it first came out and have upgraded since. I started forex trading in 2010 and the first step was to use the forex tester with a demo Forex account. once i mastered my skills on the froex tester i replicated it on the demo for 3 months before i went to live trading. When i want to practise on another new forex pair i would go back to forex tester to train my skills before going to trade live. I would suggest to any trader to practise in forex tester before going to trade live. Its a small amount to pay rather than break your trading account
 
Kno,
won, USA,
Aug 7, 2020,
Guest

Lacking adequate customer service

Service use: Other

Length of use: 0-3 Months

Accurately simulating your broker's trading environment for short time frame strategy testing is critical for accurate back-testing results. Setting this up can be nuanced in a program like this but the company does not offer any live chat or phone support. The customer is required to send a message via email or website with a response no sooner that 24 hrs and often longer. If your question is complex or not understood correctly, the message process and associated time delay must be repeated several times. I hoped for more for the high price of the software and tick data This is almost certainly not an issue for long time frame strategy testing. I'm not sure the expensive tick level purchase is worth the customer service frustration.
 
Reply by Forex Tester submitted Sep 28, 2020:
Hello. Thank you for your review! We always appreciate the feedbacks from our clients, it help us to improve our services as well as the software itself for you.
Unfortunately, we do not have the phone support. Instead you can always schedule a skype call with Forex Tester team and tell us more about your experience and share your ideas.
The technical support department responds to letters within 24 hours (except Sundays) according to the company's working hours schedule.
You can always use the chatbot on our website, which can answer most questions, as well as get support from a technical support agent.
Moreover, on our site there are many useful video tutorials regarding the Forex Tester and a huge amount of information on the FAQ pages and in our blog.
Aaron,
Queensland, Australia,
Mar 13, 2020,
Guest

Great testing software and excellent customer service.

Service use: Other

Length of use: 0-3 Months

I've been "trading" (aka losing money) the forex market for around 4-5 years now. I've seen and tried a lot of software, EA, signal providers etc. So I know what makes a good investment (to learn to trade better).

In my opinion, Forex Tester is a sound investment if you want to test out strategies and techniques and don't want to waste months testing them in demo accounts. The ability to control time speed and adjust settings on the fly, as well as journal trades and log statistics (all included in the software) makes this one of the best investments you can make (to further your forex education).

Customer service is great as well, if I have a question it's usually answered within a few days.
 
Simran,
, India,
May 2, 2015,
Guest

The support is s*** and must say their sales manager does not understand simple english,I Mailed them 15 times that my PC is having IT issues and please issue me a new reg key but he mails back you can use same key for the existing hardware,for gods sake I need a different reg key for a different hardware,whats so hard to understand in it. 0/5 for support.
 
Norman,
Australia,
Oct 30, 2011,
Guest

I have been looking for a way to back test the various trading strategies I have been developing and those offered by so-called Forex gurus. The problem with using NInja Trader, Meta Trader or eSignal to back test is that, you need to learn a programming language related to the particular platform in question to properly back test. Unfortunately, I have no ability or desire to learn a programming language. Instead I discovered Forex Tester 2 (FT2), a Forex trading simulator.

I have been using FT2 for the past few months and it does work as promised on their website. I have been back testing the strategies I have been developing and to improve my tactile trading skills through trade simulations.

The basic software comes with 10 years price history at 1 minute intervals or the VIP subscription pack provides access to the tick and 1 minutes price history from a selection of brokers.

The best thing about the software is that I have been able to test various EAs, signal services and strategies from various so-called gurus to see if they work. You can assume after testing all of them that in the in the long run they are not profitably. So I have gone ahead to develop my own trading system and tweaking it with FT2.

If you are serious in succeeding as a Forex Trader, then unless you know how to code your trading platform or charting package to perform back testing, you need FT2 or some similar product to test whether a strategy works or not.

I have saved thousands of dollars by testing various strategies and finding they do not work.I rather find out if a particular strategy is crap or not via back testing rather than on a live account.

The difference between a demo account and using Forex Tester 2 is that in FT2 you can move time back and forth with a click of a button. I have back tested weeks and months of various pairs in a day. You simply cannot do this in a demo account.

I haven't found a better Forex trade simulator for non-programmers.
 
Evelyn Jacob,
Santa Barbara,
Sep 9, 2010,
Guest

We are HUGE fans of the Forex Tester 2, and have been using it for a few years now. It's what we use to test our strategies and it's also the best tool for practicing trading over the weekend when the market is closed. Once we've reached our daily target, we also switch over to the tester to satisfy our trading "itch". The only way you can get good at something is to practice. Trading is the same thing! We practice all the time using this amazing program. You can get through a year of back testing very quickly by advancing the speed and there's no peeking ahead to see what happened, so your judgment isn't at all influenced by looking forward. It's almost like real trading. Uses all time frames and currencies, with ten years of historical data available.
To help our Forex Smart Tools customers understand how important it is to use other tools like this, we gave a 1 hour webinar just about the Tester. The video of that webinar is available here: www.forexsmarttools.com/tester/simulator_webinar.html, and also shows you shortcuts and explains a lot of the tricks to using the program. We give this Forex Tester 5 Stars!
 
Julie Hatch,
United Kingdom,
Jul 12, 2007,
Guest

Good if you are getting to grips with Forex Trading and using a demo account to practice. With time you fully appreciate the importance of support and resistance and all that jazz. Not sure about it's ability to be effective in the longer term but useful if you are just starting out.
 
Roman,
Russia,
Dec 14, 2006,
Guest

Very useful tool for practice. Trader can test different trading ideas, especially based on graphical technical analysis - support/resistance levels, trendlines etc. With this software you can understand that trading is not an easy task and you won't anymore waste your time on trading with demo-accounts. So it is better to see on it than to read about it.