FxReply Review | Best Backtesting Software

Among 100s of backtesting tools available, FxReply is one of the best backtesting software. Whether you’re a beginner or an experienced trader, this tool offers an intuitive, user-friendly experience designed to help you refine your trading edge.

In this FxReply review, we’ll take a deep look at its features, user feedback, and why it stands out as the best backtesting software available today.

FxReply is a modern backtesting tool specifically designed for manual backtesting strategies and improving your trading skill. The software uses historical data to simulate trades, allowing traders to test their strategies without risking real money.

FxReply provides tools that allow traders to:

• Test their strategies against historical market data.
• Journal backtested trades
• Analytics of your backtesting

When choosing a backtesting tool you need to look for things that will make your backtesting experiences easy and repeatable in a live market. For instance, if you use TradingView as your chart analysis tool in your day-to-day trading, it’s an advantage to use a backtesting tool that uses a similar chart framework (TradingView).

Here are the top features that are available on FxReply that make it far superior to its competitors.

• Free Backtesting Plan
• No Annoying/Pop-up Ads on Free Plan
• Advanced Analytics of Backtesting Results
• Uses TradingView Advanced Charts
• Allows Multi Timeframe Backtesting
• Execute Trades While Backtesting
• Useful FxReply Custom Indicators
• Different Strategy Sorting
• No Historical Data Limit
• Build in Journaling
• Affordable Plans

FxReply offers a user-friendly backtesting experience with its free backtesting plan of no annoying ads. It combines the power of TradingView charts with features like multi-timeframe backtesting and useful FxReply Custom Indicators which is something not available from its competitors.

To get started with your backtesting using FxReply you need to first create an account by going to FxReply Signup you can either use an email or a Google account. Here is how you will be greeted on the next screen after creating an account.

Just choose the intermediate plan, and trust me you won’t regret it. The intermediate plan has everything you need as someone who wants to intensively test a completely new strategy. But if you already have a working strategy that still needs some refining based on different conditions go for the Pro Trader Pan.

If you decide to try out FxReply you can use the button below to sign up and get a whopping 15% off any plan.

Once you have an account log in and you will be redirected to the FxReply Dashboard. This is what the dashboard currently looks like.

You will see that from your left you have:

• Trading Sessions
• Trading Strategies
• Strategy Check List
• Trading Journal
• Advance Backtesting Analytics

Now you are ready to start your backtesting journey, just go to the session tab to prepare your account balance, assets to be backtesting, and the date you want to start from.

Under name, you can write anything you want but I just like to name them by Quarters(Q) of the year. For instance, backtesting Q1 I will go from (2021 Q1) (2022 Q1) (2023 Q1) and (2024 Q1) so I will be able to compare my performance of the first quarter on every year.

You can backtest multiple assets at the same time, doing this reveals whether you are someone capable of focusing on different assets simultaneously.

There is also an option for an advanced session which will allow you to assign a strategy to the session and also have spreads + commission during your backtesting.

By clicking start on your session you will be taken to the FxReply chart, where you will be able to customize it to your liking and also add indicators.

Before you place a trade on FxReply you need to first put in the Risk To Reward tool, then click it before you head over to place a trade in the top right corner.

Here is what you will be able to do in FxReply Charts:

• Add FxReply Custom Indicators
• Place A Simulated Trade
• Save the Trade In Your Journal

This is not all the list but just what I mostly use and believe it will be helpful to you.

FxReply allows you to journal traders in details detail during your backtesting. The journal has a trade rating, a confidence scaler from 0 to 100 %, and allows you to take screenshots.

When am backtesting I don’t just rely on the FxReply journal because it can sometimes be liming so I have developed an advanced journaling template that you can also copy and use. Click the button below to get your own notion trade journal template.

Analytics is where you get the picture of how good is your trading skills. I really love the depth of the analytics that they give you.

Here are some of the features FxReply Analytics has:

• Profit and Loss Graph
• Performance By Session, Time, Days, and Months
• Rewind

The rewind is a special one, it gives you a summary of your backtesting performance but is a cool-looking way. You can also share it as a QR code or link for anyone to view your backtesting results.

Here’s a comparison of FxReply with other popular backtesting software. I will only take their comparison of the cheapest plan they offer with backtesting: (Excluding the Free Plan)

Feature	FxReoly	TradeZella	Forex Tester
Tool
Chart Framework	TradingView	TradingView	Own Charting
Trade Journaling
Simulated Trading
Indicators
Price	$17.99 /Month	$49.00 /Month	$159.00 + $30/ month
Try Tool	Get Tool	Get Tool	Get Tool

Just from the pricing alone, you can see which option is the best, although TradingView seems the cheapest it just lacks most of the essential features. FxReply is the 🥇GOAT of backtesting software.

I also did a research and found some of the least known but best backtesting software competing directly with FxReply Features. Check out the article from the link above.