In the event you’re undecided about paying for FX Replay otherwise you’re already a consumer and are searching for one thing totally different, then this quick listing will present you the very best options which will fit your wants higher.
I have been utilizing and reviewing buying and selling software program since 2007 and my purpose is to provide the greatest FX Replay options based mostly on my expertise, and assist forestall you from losing your cash on inferior merchandise.
I am going to present each free and paid choices.
Alright, let’s get into it…
The Backside Line
In the event you simply desire a abstract of the small print under, listed below are my picks for the very best free and paid options.
Finest Free
MetaTrader 4 and 5
I’ve used MetaTrader since 2007 and it is the very best free choice for Foreign exchange merchants who do not wish to pay for software program. This is the way it compares to FX Replay.
- Completely free software program
- Free historic information
- Handbook backtesting is sluggish as a result of it’s important to use a spreadsheet
- Simple to make use of interface
- Works greatest on Home windows, however can be utilized on Mac and Linux through VM
Finest Paid
NakedMarkets
NakedMarkets was launched in 2021 and has grow to be probably the greatest backtesting software program options for Foreign exchange merchants. That is the way it stacks up.
- One-time value, no subscription price
- Up to date historic information included, no subscription price
- Quickest backtesting answer, with drag-and-drop, no-code Guidelines, for partial or absolutely automated backtesting
- Superior analytics instruments
- Works greatest on Home windows, however can be utilized on Mac and Linux through VM
If you’d like extra particulars, this is what it’s worthwhile to learn about every various.
Paid FX Replay Alternate options
There are numerous paid backtesting options for Foreign exchange merchants.
I’ve filtered the listing down to those 3 finalists.
Earlier than I get began, you could be questioning why TradingView is not on this listing.
Since FX Replay provides options on prime of the TradingView chart interface, I will not embrace TradingView on this listing. FX Replay offers much more guide backtesting advantages in comparison with TradingView, so there is no must listing TradingView.
NakedMarkets (Finest Paid FX Replay Various)
NakedMarkets is my favourite guide and automatic backtesting software program.
It is a a lot better alternative than FX Replay.
The first advantages are a one-time price, superior analytics and the flexibility to construct automated backtests with none coding information.
You possibly can learn my full assessment of NakedMarkets right here.
Advantages Comparability
Downsides Comparability
- Not browser based mostly
- Home windows based mostly or Mac/Linux through VM
Be taught extra about NakedMarkets right here.
Foreign exchange Tester
Foreign exchange Tester shouldn’t be fairly nearly as good as NakedMarkets, nevertheless it’s nonetheless a really strong alternative.
I’ve used it for a very long time and solely switched to NakedMarkets just lately.
When it comes to the way it compares to FX Replay, this is what it’s worthwhile to know.
Advantages Comparability
- One-time software program value
- Comparatively cheap
- Skill to backtest MetaTrader EAs
- Simple to make use of interface
Downsides Comparability
- Historic information subscription is paid
- Not browser based mostly
- Home windows based mostly or Mac/Linux through VM
Soft4FX
I am not a fan of Soft4FX, nevertheless it does fill a professional area of interest on this listing.
I’ve bought and used it previously.
It is a plugin for MT4 and MT5 that can flip these platforms into guide backtesting software program platforms.
This is the way it compares.
Advantages Comparability
- Low, one-time value
- You get free information out of your MetaTrader feed
Downsides Comparability
- Just a little complicated to put in and use
- No browser choice, may not work with a VM
- FX Replay has barely higher reporting
Free FX Replay Alternate options
It is truly an in depth name within the free division.
These 2 platforms each have their advantages and disadvantages, however after some cautious consideration, this is the one I’d use if I used to be going to go the free route.
MetaTrader 4 or 5 (Finest Free FX Replay Various)
These platforms are very related, so I am going to embrace them collectively.
MT4 has extra customized indicators and EA obtainable, however MT5 is a more moderen platform and can be utilized to commerce extra markets.
Decide the one that you simply like higher.
For guide backtesting functions, they’re equal.
Advantages Comparability
- Free information software program
- Free historic information
- Many customized indicators and EAs obtainable on-line
Downsides Comparability
- A lot slower backtesting than FX Replay as a result of it’s worthwhile to use a spreadsheet
- No built-in stat monitoring and evaluation
- Not fairly as straightforward to make use of
- Not browser based mostly, Home windows is greatest
Merchants Gymnasium in ThinkTrader
Merchants Gymnasium is a free backtesting software program that I’ve featured a few instances on my YouTube channel.
It is a first rate free answer as a result of it has extra built-in backtesting options than MetaTrader.
However it does have some limitations that makes MetaTrader a better option.
You possibly can learn to use it on this tutorial.
This is the way it compares to FX Replay.
Advantages Comparability
Downsides Comparability
- Pauses typically when it loses web connection
- Not as many markets obtainable
- Interface shouldn’t be as intuitive as FX Replay
- Just a little clunky to make use of
- Not browser based mostly
FX Replay Overview
If you have not checked out FX Replay but, this is my abstract assessment of the software program and what I consider it.
Full disclosure, I’ve solely tried the free model, however I’ve additionally researched it extensively.
I have been doing this lengthy sufficient that I do know what to search for.
Based mostly on my evaluation and former expertise with backtesting software program, I did not see any cause to modify from what I presently use.
Advantages
- Obtainable on any laptop through a browser. No clunky software program to put in.
- They use TradingView charts, that are the very best browser-based buying and selling charts on the planet.
- The platform offers extra backtesting upgrades on prime of the advantages of TradingView charts.
- Customized indicators can be found, a few of which aren’t obtainable on different platforms.
- Wide selection of markets obtainable.
Downsides
- It’s a subscription service, so should you ever resolve to modify platforms, you may lose your backtesting information.
- Restricted evaluation metrics.
- No automation instruments.
- The interface is just a little too easy, not sufficient options.
Ultimate Ideas
So these are the very best choices should you’re searching for backtesting software program that is a substitute for FX Replay.
Based mostly on my intensive analysis of the product, it would not have the identical advantages of the paid options on this listing.
Nonetheless, I am positive that they are going to be including new options into the long run, so I look ahead to seeing what they provide you with.
Remember the fact that expertise can change shortly, so my evaluation is predicated on the data obtainable on the time this was written.
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