Thorex Review: Can We Trust This Service?

Thorex is a robot that was published on the MQL5 market. The robot includes fifteen trading bots behind a single system. It should be used on a good broker as IC Markets, $250 account balance, and acceptable leverage of 1:30. Trading results showed that the system requires some updates implemented.

Vendor transparency

We have a standardized level of transparency. Lorenz Vauck united 2 products and 4 signals in his portfolio that has a 3.4 rate .4 based on 10 reviews.

How Thorex works

The presentation includes information about the system and its functionality. For your comfort, we systemized all claims and details in the following list:

• The system can work automatically.
• The last update happened in May 2022.
• There’s a claim about price increasing every day for $10.
• There are fifteen robots behind a single system.
• You can set proper risks for every pair.
• It is able to trade all strategies apart at the same time.
• Traders are allowed to turn off some of them.
• The system received proper testing on data from various brokers.
• It allows you to place a single order in the market at the same time.
• SL levels can vary from 17 to 88 pips.
• We can expect to get free updates when the system needs them.
• The account balance is $250.
• The leverage can be 1:30.
• You should have $1000 to open orders with 0.02 lot sizes.
• The developer suggests we use an IC Markets broker. It’s a good one.

Timeframe, currency pairs, deposit

• It manages orders on the H1 time frame.
• We can open orders on the AUDCAD, AUDUSD, CHFJPY, EURAUD, EURGBP, EURJPY, EURUSD, GBPAUD, GBPCAD, GBPJPY, GBPUSD, USDCAD, and USDCHF cross pairs.
• An initial deposit can vary from $250 to $1000. It’s up to us.

Trading approach

• The dev claims that the system doesn’t perform risky strategies such as night scalping, martingale, grid, and cost averaging.
• We don’t know exactly what approach the system uses.
• There are plenty of strategies on the board. So, it has to spot entry points and check if they don’t conflict with data from other strategies.

Pricing and refund

The pricing was decreased from $459 to $399. Rental options were removed too. We can download a demo copy of the robot for free to check its settings on the MT4/MT5 terminal.

Trading results

There’s a report that gathers data of 13 symbols under one simulation. The data quality was 99%. The devs set an initial deposit at $1000 that has turned into $4.2 billions of the net profit. The maximum drawdown was 5.72%. It worked with a profit factor of 1.69. It has executed 100,368 deals with accuracy of 64-65%.

The robot manages orders on a real account that was created on IC Markets. It receives data from the MT4 platform indicators. The leverage is 1:500. The maximum drawdown is 31.8% when the maximum deposit load is 5.6%. The win rate is 59.7% only. Since the beginning, the total growth has amounted to 7.39% after significant losses.

For now, the system is going to lose for the second month in a row.

We’d like to note that the robot loses orders pretty frequently.

Thorex has managed to execute 586 deals. The best trade is €6.71 when the worst trade is -€8.09. The recovery factor is low, 0.16 when the profit factor almost equals 1, 1.03. We can expect the robot losses this month with -14.75%.

We still have GBPUSD as the most traded pairs. The advisor trades a long direction a bit more frequently.

People say that Thorex …

An acceptable solution. As a result, we have various feedback: both positive and negative ones. Alas, there are no customer reviews on 3rd party websites like FPA, Trustpilot or Quora to compare.

Verdict