Forex Truck Review: Things to Consider Before Investing

Forex Truck

Forex Truck is a trading advisor that focuses on working with a single cross pair – USDCAD. The presentation doesn’t look pretty informative because it lacks settings details and features explanations. The developers insisted that the system is our reliable trading solution on the Forex market.

The highlights of Forex Truck

It was a challenge for us to find all pieces of useful intel that could help us with making the final decision. 

  • We can expect that the advisor helps us with automated orders execution.
  • We may not worry about opening and closing deals.
  • There are two terminals supported: MT4 and MT5..
  • The solution can be used on any broker.
  • It can open orders using fixed lot sizes.
  • It’s possible to protect all our orders with relevant SL and TP levels.
  • The advisor does its best to close orders with a short profit or even a loss if the market goes against the orders.
  • Stop Loss levels aren’t deep.

The developers think these features make Forex Truck a  good choice for traders:

Money management

The advisor calculates entry points, lot sizes, stop losses, and take profits for us.

Generates stable yield

The system is profitable for two years.

Drawdown control

The advisor cuts drawdowns before it’s too late.

Trading strategy of Forex Truck

  • It works with a combo of Grid and Martingale strategies.
  • Trading is possible only on USDCAD.
  • The time frame to open orders is H1.

Backtesting reports

Forex Truck backtest report
Forex Truck backtest report

We have a report that was received after testing USDCAD on the six years data. The time frame was H1. The modeling quality was 90.00%. The trading account was deposited at $5000. It turned into $75,759 of the total net profit. The maximum drawdown was 23.42%. There were 1609 orders with a win rate of 54% for short and 67% for long  trading positions traded.

Trading results in real time

Forex Truck trading results on Myfxbook
Forex Truck trading results on Myfxbook

The robot trades on a real USD account under the FXOpen brokerage. It receives data from the indicators from MT4. The leverage wasn’t mentioned by the devs. It was created on January 16, 2020, and deposited at $2000. Since then, the total gain has become 643.10%. An average monthly gain is 8.31%. The maximum drawdown is 18.67%.

Forex Truck statistics on Myfxbook
Forex Truck statistics on Myfxbook

There were 479 deals traded and 2728.2 pips obtained. An average win is 45.43 pips when an average loss is -46.96 pips. An average accuracy is 55% for longs and 58% for shorts. The advisor keeps orders on the market for two days. The profit factor is 1.94.

Forex Truck trading directions on Myfxbook
Forex Truck trading directions on Myfxbook

The advisor trades both directions and they are equally profitable.

Forex Truck risks
Forex Truck risks

We may note that the risks are moderate. There’s a 7.52% chance of losing 10% of the balance.

Forex Truck closed orders on Myfxbook
Forex Truck closed orders on Myfxbook

The SL levels can be as deep as 191.8 pips. The robot uses x6.5 Martingale to recover after losses.

Forex Truck monthly activities
Forex Truck monthly activities
Forex Truck monthly activities
Forex Truck monthly activities

The profitability in 2022 doesn’t look as good as it was in 2021.

Forex Truck price

Forex Truck pricing details
Forex Truck pricing details

The price can be found on the site and on the Forex Store. The system is available for $329. The package includes a license for a real account, many licenses for demo accounts, user manual, MT4 and MT5 versions, and a 30-day money-back guarantee.

Customer support

The devs provide average support. We can expect to get our questions answered within half a day.

Are traders happy with Forex Truck?

We don’t know about this for sure because there are no testimonials provided. So, we may only guess if it works well for clients.

People say that Forex Truck is …

Alas, we don’t know what exactly people say about the robot. There is no customer review on third party websites like Forex Peace Army, Quora or Trustpilot.

Forex Truck

Forex Truck
3 5 0 1
Forex Truck is a trading solution that works with a Grid and Martingale combo to make profits from the market moves. The presentation looks simple and provides no strategy or settings details. Also, we don’t have testimonials to be sure that our investments will be secured.
Forex Truck is a trading solution that works with a Grid and Martingale combo to make profits from the market moves. The presentation looks simple and provides no strategy or settings details. Also, we don’t have testimonials to be sure that our investments will be secured.
3/5
Total Score
  • Profitability
    3/5 Neutral
  • Strategy
    3/5 Neutral
  • Reliability
    4/5 Good
  • Price
    4/5 Good
  • Customer Testimonials
    2/5 Bad

Advantages

  • A backtest report provided
  • Trading results revealed
  • A refund policy applied

Disadvantages

  • No team revealed
  • No risk advice given
  • The advisor uses a risky strategies like a Grid with Martingale
  • No people’s testimonials provided
Total
0
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