Managed Accounts Review Blue Trading

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FX Blue trading simulator review

FX Blue simulator for testing manual strategies in MT4

FX Blue Trading Simulator: description of MT4 strategy tester, set of functions, settings. Practical example of testing a manual strategy in the Forex market. Advantages and disadvantages.

FX Blue is a Forex tester developed for the MT4 platform for testing manual strategies on no matter which time frame. The developers did their best to make this Forex simulator visually and functionally convenient. With FX Blue, one can test a strategy on multiple time frames simultaneously, manage all types of orders right on the chart, and set level lines. They’ve also added limit and pending One-Cancels-the-Other (OCO) orders to trade retracements and breakouts. We’ve reviewed the order of setting, functionality, testing methods, advantages, and disadvantages of FX Blue.

FX Blue Trading Simulator – MT4 functional tester

Before being launched on a real account, every trading system needs to be tested. A trader should understand if his/her trading strategies are profit-yielding and if the profit is comparable with risks and expectations.

A strategy can be tested in 2 ways:

  • on historical data
  • on a demo account.

Historical data testing does not guarantee future profitability, so testing on a demo account looks more logical. But first, a demo account doesn’t reproduce a real trading environment (cent accounts would be a better option). Second, testing on a demo account doesn’t guarantee future success either. Third, it will take weeks while a tester allows optimizing a manual strategy in a few days or hours.

In general, manual strategies are tested by use of a tester in the following way: quotes issued over a certain period for a required currency pair are downloaded into a platform (MT4, for example). For example, 10-year EUR/USD quotes. Then a tester analyses the whole period and forms a price movement chart.

Further testing depends on the functionality of the tester:

  • A trader may apply no matter which indicators, open/close trades at any moment, place pending orders or trail stop orders manually.
  • A trader may return to any point of the chosen period, replace orders and launch a tester again
  • A trader may use any testing methods, from fast but inaccurate to accurate testing of all the ticks.

The whole period analysed, a trader gets trading statistics (statement). His/her task consists in reaching the best result at the end of the trading period by changing the trades (i.e. working out the algorithm of the strategy).

What for is manual testing?

  • It saves time. If your strategy isn’t efficient, it will be wise to find something else without delays.
  • It allows finding an optimal combination of indicators for a particular currency pair or market situation.
  • It allows detecting the drawbacks of indicators, learning to see signals immediately and defining whether or not a signal is accurate.
  • It teaches you to analyse statistics, estimate risks, develop self-discipline and control emotions.

In the end, the analysis of statistics provides you with the information on average profitability and maximum drawdowns in your trading systems. In a real account, a trader understands which lot size is needed to achieve the same results as in a test and that trading should be stopped when the results don’t correspond to the statistics.

Simulators vary in functionality and visualization. MT4 is equipped with a manual tester, which still has its drawbacks. FX Blue Trading Simulator is a dedicated program developed as an addition to MT4 and provides an opportunity to test various time frames at the same time and install unique orders to trade retracements and breakouts. The programme isn’t flawless but the general impression is positive.

FX Blue Trading Simulator: functions, settings, operation

FX Blue Trading Simulator is a program that runs based on the MT4 visual test and is non-compatible with other platforms (beyond MT). The tester simulates real trading on historical charts. It allows trading by use of market/pending orders and fixed/dynamics lots, and it analyses several time frames simultaneously (by opening a few windows in MT4).

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1.Installing and launching

To my mind, the installing mode is overcomplicated. Some users tend to think that it’s a way to form a base of traders. I’m not a fan of conspiracy theories, though. In fact, the developers don’t demand too many personal data.

Still, you won’t be able to download the archive in a few minutes for free. The archive located here contains a setup file and an instruction for those who would like to get acquainted with the tester without having to go through a long registration stage. The instruction is quite detailed and is provided in English in pdf format. Those who still want to launch FX Blue in a real account will have to take the following actions:

1. Register at www.fxblue.com and verify an account. To register, enter your email address, login, and password. These data will be required to launch the tester.

2. You’ll be emailed a message containing a link to confirm your registration. True, the developers still require your phone number as if an email address wasn’t enough.

I’ve entered my first and last name in the 2 first windows using Latin symbols. There were a few comments reporting some troubles related to other alphabetic systems. However, there aren’t any problems with typing a phone number as the format is indicated in the window. An sms will be sent to the indicated email address in [email protected] format. It’s the address to which you need to send any reply from your email address. For example, “I adore Forex”. In whatever language.

3. If all has been done properly, you’ll see the following message in one of the verification windows:

Congratulations, registration completed! Then, download a free archive from the developers’ site. As you see, there aren’t strict requirements concerning verification. According to the authors, the registration is meant for a trader to be able to upload his/her test results to the site of FX Blue and analyse them later.

Once MT4 is relaunched, the tester will appear in the left window “Navigator”. The window can also be activated through the “View” menu. The procedure for downloading quotes through MT4 has been described in detail in my previous review of Forex Simulator, so I won’t provide a detailed description now. Still, there’s one difference to stress: if Forex Simulator is launched with a double mouse click or through dragging it from Navigator onto the chart (and can’t work via Tester), FX Blue, on the contrary, is launched only by use of Tester. The following actions shall be performed:

  • Click on “View” – “Tester of strategies”.
  • In the window below, enter the “Expert Advisor” title and select our tester in the new window.

If at some moment you notice that the tester isn’t working properly (can’t open an order, testing went down, etc), relaunch MT4. It helped me out many times. I don’t know why such failures occur but nothing is perfect. So, we’d better adapt ourselves.

Enter the currency pair you’re going to test in the “Symbol” line and the test type – in the “Model” line. Testing takes more time when you choose a more exact option. Set your dates and click on “Start”. Enter your registration data in the window that appears on the chart.

  • There’s an interesting moment here. Below the Date line, there must be the Visual mode line that you need to tick (obligatorily). I didn’t have any. Having read the forums, I resolved the issue in a second: it turned out that the tester window should be a bit extended. The Visual Mode displays a testing process on the chart while a slider controls its speed. If the speed if too high, the chart will run forward fast. But all is individual here.

2. Order placement

Once the tester is launched, a window for a fast opening of trades will appear on the chart. Lot size, stop and trailing stop, or take profit can be set here.

To calculate values, you need to activate the calculator. To do so, aim a mouse cursor at one of the windows, Trailing Stop for example, while holding down CTRL. Then, left-click on the window.

The quick trading window also allows setting pending orders. The menu can be activated by clicking on the orange icon in the right upper corner. Options:

  • Order type. Besides classic market, pending, and limit orders, there are also One-Cancels-the-Other (OCO) orders to trade breakouts and retracements. A trader places 2 pending orders: Stop orders in the former case and limit orders in the latter case. When either order is triggered, the other is cancelled.
  • Trade Volume. Fixed or dynamic lot size with the opportunity to set a fixed risk value in the deposit currency or a percentage of the balance/equity can be determined here. To calculate a dynamic lot, it’s necessary to indicate the length of a stop – a basic parameter on which calculations are based.
  • Stop Level: fixed or floating. You can indicate a % of balance/equity.
  • Take Profit Level.
  • Order comment and assignment of Magic-number.

The blue icon located nearby provides fast access to the settings for a fast confirmation of orders or no-hedging mode. Also, this menu allows activating the information on the account.

A saved template may be activated at any time. The title of a template is found in the first line “Templates”.

A placed order appears on the screen. The control process isn’t very convenient, but one can get used to it with time. One of the advantages is that you can move a placed order right on the chart by holding down the marker on its right side. Clicking on the marker, you can activate the window of the order where its values will be displayed and where you can close it.

The simulator is launched as of the date indicated in the tester (in the lower window). To pause the simulator, you need to click on the button located near the visualization scroll (the blue square in the next print-screen). During a pause, you can change a test speed (speed of candle building), add an indicator, assess the chart from the point of view of fundamental analysis. If you click on Stop, simulation will stop completely and the profit/loss registered at the moment of stop will be displayed on the screen. More detailed results will be imported onto the developers’ site. You can’t relaunch simulation from the moment where you stopped, you can only start it in a new window.

To close orders, you need to click on the window that displays your currency pair and the following suggestion will appear on the control panel: Close pending orders, all profitable, all loss-making or all orders. To close a specific order, left-click on it twice on the chart and press “Close”.

The picture also shows how open and closed trades are designated. Buy and Sell arrows are in different colours. Inverse arrows show closed trades. When aiming your mouse cursor at any of the orders, you’ll see opening/closing prices, the direction of the trade and who’s closed it. In our case, the trades were closed automatically by the tester through Stop Loss.

Smart-Lines. It’s an interesting function which allows testing a trading strategy by use of vertical, horizontal, and trend lines. The window is activated in the following way: plot a line on the chart (MT4 panel tool), un-pause the tester (the window won’t get activated in the pause mode), hold down Alt and left-click on the line. You’ll activate the window for setting Smart-Lines.

I won’t pay too much attention to this tool as the manual provides all the necessary details. But I’d like to mention that it’s a kind of level trading in which a trade is closed automatically. The lines serve as stop loss and take profit for open trades. Pending orders can be closed by lines as well if it’s specified in the settings.

Simulation on different time frames/ Another convenient function consists in analysing several time frames at the same time during simulation. Choose your main time frame in the window below. The current default value is H1.

Then click on “Expert properties”, choose the tab “Inputs” and scroll it down a bit. Choose additional time frames.

Next, start testing the main time frame, pause the simulator and click on “File – Open Offline” in the main menu of MetaTrader. The data generated as “!SIM” will be displayed here. Open necessary time-frames, place charts and run the tester that will work in 2 charts at the same time. The more charts you open, the slower simulation runs.

3. Analysis of trades

Once simulation is either interrupted by clicking on the “Stop” button or completed, there will appear a final window which displays information on profits or losses in all orders. The date specified in the tester will be the end date of simulation.

The final report is displayed on the browser. It can be imported to Excel. If judged by the amount of statistical information, it reminds of MyFxBook reports. How to analyse statistical data is another subject, even more so because there’s no single approach to it. I just recommend running through all the tabs, testing a strategy on different currency pairs, and comparing results.

Drawbacks of FX Blue:

  • Some features don’t work properly. The platform sometimes freezes up. I can’t say what the reason was, but it was the tester that froze up and I had to plot a chart from scratch after a relaunch.
  • There’s a problem with the time frame scrollbar. Its maximum number of units is 32. Logically, when the runner is moved from 1 to 32, the scrolling speed of a chart should be growing respectively and uniformly. But it does so only up to the value of 31. At the same time, the speed of 31 doesn’t correspond to a desired scroll speed, certainly. But if we set the speed at 32, the whole chart will be drawn in less than 30 seconds on the 2-year time frame.
  • There’s no option to pause simulation, go back and place an order post factum. I’m not speaking about upgrading the results (there are some cases when back-tests are falsified), I’m speaking about convenience and time-saving. The developers think the fact that statements cannot be falsified is an advantage.
  • The functions are tailored to MT4 exclusively. There’s a FX Blue version for MT5 too, but its set of functions is even poorer. For example, it’s impossible to open positions in several tools or test multicurrency strategies. Considering the fact that MT5 didn’t find many champions among traders, the developers chose not to design an enhanced MT5 version of the tester.

There’s another moment to remember for those who work with the tester: there’s no redrawing. This problem concerns not only FX Blue but also any other tester which draws charts based on historical data. Redrawing is a situation in the real market when a trader sees a signal (for instance, Bollinger bands breakout), decides it’s a start of a new trend and opens a trade in the respective direction. Then the price reverses and the indicator redraws itself in a way that shows a retracement instead of a breakout.

One of the main reasons for redrawing is that indicators depend on closing prices. Many oscillators’ formulas are built based on comparing a current candle’s value to previous candles’ ones. There won’t be any redraws in a tester where quote values are already known. In the real market, where large volumes can change a situation in a second, there may be any closing prices. As soon as a candle closes, an indicator redraws itself. For the purpose of testing, it’s advisable to use indicators without redrawing (those which aren’t affected by closing prices). Also, remember that testing results may differ from those achieved in the real market.

Still, in spite of all its drawbacks, this tester is considered to be one of the most convenient for testing simple MT4 strategies. By the way, pay attention to the manual’s separate section devoted to key combinations. For example, you can change the scroll speed by using keys as well.

Conclusion. FX Blue is another tester of manual strategies which has both advantages and disadvantages. The advantages include convenient visualization and quite a large tool kit for analysing statistics. Improper operation and a limited set of functions belong to its drawbacks. Given a fact that the simulator is free and the reviews are mostly positive, I recommend assessing its potential in practice. Feel free to post your questions and comments!

P.S. Did you like my article? Share it in social networks: it will be the best “thank you” :)

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Price chart of EURUSD in real time mode

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

Blue Trading Reviews

272 • Bad

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Reviews 272

BLUE TRADING-SCAM

BLUE TRADING-REAL, FRAUD, SCAM?
I was a registered client of Bluetrading. This entity has a habit of claiming that adverse comments are made by non-clients. Until this entity can demonstrate what the corporate entities are, who the directors are, what the physical corporate address is, where they are registered and by whom they are licensed to operate, stay clear! Numerous regulators have issues WARNINGS, not cautions.
COMPANY OR WEBSITE- This is not a registered company. It has no physical address. It does not have directors. It is a website full of smoke and mirrors like the magician likes to work under. It has lots of telephone numbers probably redirecting to one location somewhere, but where is the question.
REGISTERED BY ANY REGULATORS? – No it is not registered by any financial regulators anywhere. The website claims that it is a member of the FCA, the Financial Conduct Authority. This is a false claim. Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by the FCA and the Bank of England Prudential Regulation Authority, which has issued a warning not to deal with this entity. The website also claims that it is a member of the Global Foreign Exchange Committee. This is also a false claim. The Canadian Financial Regulator British Columbia Securities Commission has also issued a warning against dealing with Blue Trading.

BLUETRADING IS A SCAM- Google scamwatch
DEPOSITS TO BLUE TRADING- They use shadow companies with no registered ties with BlueTrading.
REFUNDS FROM BLUE TRADING- If you are lucky, or manage to convince Blue Trading that it is in their best interest to honour withdrawal requests, you may get your money back. That will be via a debit card system run by Moorwand Ltd in London under a Mastercard licence called Upaycard. This has no identification at all in respect of the origin of the funds. Just a card number: 385798-893118-001.
REMEDIES IF YOU ARE DEFRAUDED- Basically there are none, because the organisation is not physically anywhere. They just drift in and out, create impressions which bear no cursory due diligence. I got my funds back because I convinced them it was in their best interest to do so.
BLUE TRADING AUDIT- An audit letter of trading results by a CPA in South Africa is a joke. It is not an audit by any recognised standards by chartered accountant professional bodies. It is like most things with Blue Trading probably made up, smoke and mirrors.

BLUE TRADING CREATES ITS OWN INDEPENDENT REVIEWS:
If you Google Blue Trading, the first few pages of the search will show at least a dozen sites that in fact have been created by or are blatant paid for advertisements by Blue Trading and their associates to create an impression that they are legitimate and not a scam!

Your review is entirely inauthentic. The companies you reference are liquidity brokerages. Additionally, the Canadian stock exchange regulators cited us because an affiliate (who admitted on a forum) promoted us in a region we did not accept clients and it was reported to this regulator. Therefore, they issued a “caution notice”.

As for withdrawals, you will not find ONE client who has not received a withdrawal from our firm. If you can, please prove it. Your review is a disappointing and desperate slam we are disappointed to see. Good luck.

Best Crypto Fund Manager

I have had an account here over two years. I have MORE than made back my original deposit by a LOT. Their customer service is fast, they are aggressive traders, and I have met them at the Blockchain Expo in Singapore as well.

They are legitimate as you can get for a Crypto Fund. I am happy I found them and the 15% of people attacking them here should be ashamed of themselves. NONE of them have lost money if you read their reviews. Not one.

There is no better Crypto fund out there. Period.

STAY AWAY!

STAY AWAY!! DONT MAKE THE MISTAKE I DID. I am a sophisticated investor with a number of other investments. When I joined Blue Trading I did some due diligence, though my mistake was not following my process and doing enough – because I was referred to this company by friends who were saying they were very happy.. I opened a VIP account with them. While trying to do so, I needed more information for the “international liquidity fund’s” bank where I was sending the funds. As they had not included it in the wire transfer instructions, I tried googling the company and could not find it on Google. So I asked Blue Trading and got a response from “Hannah” who was very rude and basically told me no one else has ever needed the information I was asking for and so I had everything I need.. (the piece of info I asked for was required by my bank and I could not submit the transfer without it lol). This should have been a sign for me but I regret that I did not see this as a red flag at the time. I finally got the funds transferred by just putting something generic in the required field and my account was open. For the first 2 weeks things looked like they were going well, the account was profiting from trades and was up a few percent. Then a friend I referred told me of some red flags he found and so I dug deeper and found some of the negativity online. I tend to take reviews with a grain of salt because even the best companies have negative reviews by competitors or whiny people. But I decided to ask Blue about what I had found. When I queried about the expulsion from the FCA their response was: “Greetings, Thank you for writing! We would be glad to share with you the details surrounding the controversy with the Financial Commission. Our membership was terminated suddenly for no apparent reason in September 2020. This is not unusual at all for the Financial Commission. As you can see on their own website, they have as many ceased members (27) as active members(27): https://financialcommission (dot) org/members/participating-members-of-the-financial-commission/ In over three years, we have never denied a withdrawal request or had major issues with any clients. This was very sudden and we are still extremely puzzled to why they would behave so bizarrely so suddenly. In reality however, we are actively lobbying global regulators to begin regulating Cryptocurrencies through the Crypto Valley Association in Switzerland. There is no substitute for real regulation and services like the Financial Commission only provide basic services. As for the FCA – they are a British regulatory agency. We are an Asian Cryptocurrency trading firm with no operations in the UK whatsoever. Furthermore, the UK does not even regulate Crypto trading activity. Therefore, it would be impossible for two reasons for us to be regulated by the FCA. The “Caution” listing as they call it is simply because we are not a British company and they have placed us on a list with 1000s of companies. It is extremely important to note we have zero complaints and the list is a simple bullying tactic used by regulators to discourage people from trading outside of their country or in any Cryptocurrency product. We are currently in contact with the FCA through our legal team however to remove this listing. I hope that clarifies the matter candidly for you – please let me know if we can assist you further. Best regards, Hannah Smith”. Seems kind of fair enough. Til I thought that makes no sense, they wouldn’t just kick you out for no reason without telling you. Especially when on the regulators website it says “expelled for repeated offences”. So then I decided to ask about some other claims that Blue is just another version of Iiinvestments and that their accountant who apparently audited their results is in South Africa (?) And no one can find evidence of the accounting firm the address is just in the middle of the desert and the phone rings out and I again mentioned that I had trouble finding the company when making my bank transfer. Now let me be clear, I was very respectful in my email communication. I even said that I was very happy with them so far, that I wished to continue, that I understand every company gets negative reviews and that I was just doing my due diligence for myself and the people I referred. Well they didnt like that and here’s the response I got from “Hannah”: “Dear Mr. Farina, We honestly don’t pay any attention to this web negativity that all companies receive. We have far too busy of a thriving business to give it any concern. If you aren’t comfortable with our company we suggest trading elsewhere perhaps. Thank you. Best regards, Hannah Smith” Not really the service you’d expect for a VIP account holder who has just referred approximately 20 people to them in 2 weeks is it. Now the red flags started to stack up and it became clear that regardless of whether all the negativity online was true or not, something is not right with this company. So then I chose to withdraw my funds because of the stacking red flags. At first they seemed happy to process the request and got to it quickly. However that was on the 3rd November 2020 when I requested the withdrawal and at the time of writing this it is the 5th OF JANUARY 2020! and I still have not received my funds and I’m not the only one. The guys who referred me decided to pull some funds and some have still not received their money either and they asked before I did. I’ve emailed a number of times over the last week asking for evidence of the transfer being made and where it was sent, yet no evidence has been sent, just emails back from them saying: “Hi Justin, Yes you are correct your funds left our account on 6.11.2020 to your Suncorp bank account. Just wait for a few more days you should get them soon. Kind regards, Brian” Now isn’t that interesting.. Your money is supposed to be deposited to an international liquidity fund (the one in Hong Kong I couldn’t find on Google) and Blue is only supposed to have control of it to trade via a connection and yet you contact Blue to get it out and they say “the funds have left OUR account”. Then I tried calling last night 3 times to speak with someone and the call centre lady said Brian would call me back to discuss. After 3 calls and an email direct to Brian and it being 1am here, I had still not heard from him so I decided to go to sleep with my phone on loud. Well I woke up this morning, no call just another email from Brian saying: “Hi Justin, I have just checked with Finance now they confirmed your funds have already reached your account. IF you still did not get it today, please try to call your bank or wait until Monday to see if they are just floating in their exchange. Let me know if you have any other questions. Regards, Brian” How do they know funds have hit my account? And so I check again. Nope no funds there! And still no call from Brian despite my 3 calls, the lady I spoke with apparently leaving urgent notes for him to call and me emailing requesting a CALL. I am just glad out of those I referred only 1 had deposited and he got his money back through a BTC transfer – this seems to be the only way people can easily get their money back – funny that, it was the same thing the online negative reviews said when I read them. STAY AWAY FROM THESE GUYS

At the moment everything works very well

I have heard alot about bluetrading and…

I have heard alot about bluetrading and most of the negative comments I see come from people who have not invested a dime so I thought to give it a try. Also their support team has been very active and responsive so I invested today and will provide updates on my experience as time passes and also review my rating. I really hope I made the right choice.

Managed Accounts Review: Blue Trading

There are few good things if you are looking to invest with them.

They have lowest fees on profit sharing as far as I know that ranges from 12% to 18%
They have trading dashboard update all the time.
There is no problem regarding withdraw of profits.
Support is quite good and available during weekdays.
If you can afford to get VIP package then you get 45 days Fees Free.

If one wants to make money with short term plan, i think that their scalping trading strategy will be the best way to see some real time income. Scalping is one
the best and fastest trading strategy to make quick money consistently with the help of experienced forex trading account managers at blue trading.

What have shocked me about your trade management service is the fees which was based on performance and only a flat fee of 18% which is quiet low for the services you guys have provided. I am glad that I found your services in my early stage of trading with your experience I am feeling very positive vibes in coming days. The customer service is amazing and need a special appreciation. Thanks for standing out to my expectations.

There are many fund managers in forex market and some of them are just acting to be good but they don’t know much about making consistent profit. So when it comes to Blue trading, I can see their good trading performance and that is what I needed to make some extra money while doing nothing. Yeah, I contacted their support and asked many questions before handing my funds to them and they respond me well enough to start with them.

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