Thorex Review

Thorex is available on MT 4 & MT 5 platforms. It claims that it has combined 15 EA strategies into one robot. It can trade on multiple currencies and run under any risk management setting. You can read on to learn more about the algorithm’s drawdown, live record, reliability and strategy before making your purchase.

Trading strategy explanation

According to the developers, night scalping and martingale are not used by this bot. The minimum deposit required to make it work is $250 and the leverage must be 1:30. According to live data, the system usually closes and opens trades after the last hour of an hour. The system uses a day trading strategy to trades, with an average hold time of 10 hours and 51 mins.

EA: How it works

These steps will help you get your system set up.

1. The MQL5 marketplace allows you to purchase the algorithm

2. Sign in to MetaTrader 4/5 platforms using your details

3. Copy the algorithm and then reload this page.

4. Start trading by linking the robot to the chart

The account will be able to place trades whenever there is an opportunity.

These are the features

This robot has the following features

• You get free updates via MQL5 and continuous maintenance.

• You can rent or purchase the robot.

• This product will be on sale only for a short time.

• You can trade it on the MT4 or MT 5 platforms.

• You can try the EA for free.

Backtest data analysis

Backtests are available for currency pairs AUD/CAD from December 1986 to April 20,22. The initial deposit was €1000 and a win rate of 69.85%. The stats showed that the total net profit was €10345.99, with a profit factor of 1.75 in 2753 total trades.

Live trading data analysis

From April 2022 to the present, this trading account has been in use on Myfxbook. Daily and monthly gains of -0.03%, respectively, are disappointing. The drawdown of 9.98% shows that this system doesn’t take high-risk measures.

Theorex has placed ten trades through this account, winning 60% and generating a total profit of -€0.67. The current balance is €99.33, and the robot has an average win of €3.66 with a loss of €2.66 .

Vendor transparency

Lorenz Vauck owns the product. He is located in Germany. This seller currently has 2 products and 6+ years of experience. For six MQL5 reviews, the overall vendor rating is 4.3.

Pricing

The product is available in different pricing options, including rental or purchase. Each option comes with multiple options and features. The product can be purchased for only $419, which is a one-time payment. You can rent the product for $395, $179 and $287 each, respectively. These packages will be valid for three, six, or one year.

Review summary

Theorex is compatible with MQL5. No information is provided by the vendor about a money back guarantee. Trustpilot has no reviews of the product, nor information about support from the developer.

There are pros

• Thorex Trades on the MT4 or MT5 Platforms

Cons 

• As you can see on Myfxbook, live records are short in duration.

• Trustpilot has a low number of reviews from customers

• Prices are too high