Hi guys. I am wondering if there is a forex strategy backtesting software available for free? I only know about forextester 3 but its very costly for someone who’s just starting out so I am wondering if you guys know about any other free software?
Yes you should be able to back-test with broker data and the MT4 platform. To get more accurate data for 99% quality back-tests try: Tick Data Suite. They also have a free trial version although the license is circa £100.
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Why not to use built-in strategies tester in mt4 or mt5 terminal?
If you want any for free, then you can use MT4 or MT5 Tester (Click on View menu and choose Strategy Tester or press CTRL + R) but be ready that sometime when you run your strategy several times you can get different results. Therefore I trust them less, but it’s free, and you can’t demand good quality.
Yes, if you have your broker they can help you out by backtesting of your chosen strategy before implementing on your live trading transaction. If you are a beginner i guess Demo account can help you out.