Backtesting your trading strategy is an important part of becoming a successful forex trader. It allows you to simulate historical market conditions to refine your approach without risking real money.
While Forex Tester is one of the most well-known tools for this purpose, but its price does not justify the available features it offers. Fortunately, there are excellent Forex Tester free alternatives that offer the best backtesting functionalities at no cost.
My name is Thabiso a.k.a deguru, been trading since 2020 all these tools are tools I have used for my backtesting. In this article, we’ll explore the top five free alternatives to Forex Tester, their features.
Why Look for a Forex Tester Free Alternative?
Forex Tester is a powerful backtesting tool, but it has limitations that might make you look for alternatives, for Example:
Free alternatives provide flexibility, accessibility, and unique features that suit different trading styles
Top 5 Forex Tester Free Alternatives For Backtesting
Forex Tester free alternative is FxReplay, TradersCasa, GoCharting, Exness Terminal, and TradingView
Tool | Features | Ratings | Price |
|---|---|---|---|
 FxReply |
|  | Free |
 TradersCasa |
|  | Free |
 TradingView |
| | Trial |
 GoCharting |
| | Free |
When choosing an alternative to Forex Tester , look for software that provides plenty of historical data and allows switching between timeframes during backtesting. It should let you add custom indicators or scripts for better strategy testing and allow trade simulations in real-time conditions.
1. FxReply
FxReply is the best free Forex backtesting tool. It combines simplicity with powerful features, making it ideal for traders who value functionality and convenience. Its interface is nearly identical to TradingView, which makes it easy for experienced traders to adapt.
FxReply Key Features:
Why Choose FxReply:
FxReply, using TradingView’s chart engine, brings a familiar charting system while offering advanced analytics for free, making it a standout choice.
The built-in trade journaling is a bonus for serious traders who want to refine their approach.
2. TradersCasa
TradersCasa offers similar features to fxReply that are great for traders looking for free backtesting tools. Its interface uses the TradingView charting engine, but it also introduces additional analytics for strategy refinement.
Key Features:
Shortfalls:
Why Choose TradersCasa
TradersCasa’s advanced reports make it a valuable tool for traders who want detailed feedback on their strategies. However, its ad interruptions and lack of custom indicators might not be as good as compared of its competitor.
3. TradingView
TradingView is widely regarded as one of the most versatile platforms for trading analysis. While it’s primarily a charting tool, its bar replay feature enables manual backtesting.
TradingView Key Features:
Shortfalls:
Why Choose TradingView
If you already use TradingView for live trading, its free backtesting tools can be a natural extension of your workflow. However, its limitations might be a deal breaker for some traders.
4. GoCharting
GoCharting is another TradingView-based backtesting tool that offers unique features but has a steeper learning curve.
Key Features:
Shortfalls:
Why Choose GoCharting
GoCharting offers every backtesting feature you will need for free but requires some patience to navigate its interface. It’s suitable for traders who can overlook its minor inconveniences.
5. Exness Terminal
Exness Terminal rounds out our list as a minimalistic backtesting platform with a TradingView-like interface.
Key Features:
Shortfalls:
Why Choose Exness Terminal
Exness Terminal’s simplicity makes it an option for absolute beginners. However, its lack of essential features like multi-timeframe testing and trade execution limits its use.
Conclusion
While Forex Tester is a popular choice for backtesting strategies, free alternatives like FxReply and TradersCasa offer the best features without paying a dime.
FxReply stands as the best free backtesting tool with its combination of advanced analytics, fxreply custom indicators, and a user-friendly interface.
FAQ
FxReply is the best free alternative due to its powerful features, including trade execution, unlimited historical data, and advanced analytics.
Yes, TradingView offers a free plan with bar replay functionality. However, it’s limited to daily (1D) timeframes and lacks features like trade execution during backtesting and detailed analytics, which are essential for optimizing strategies.
While TradersCasa offers similar features to FxReply, such as free backtesting, journaling, and no historical data limits, it falls short due to intrusive popup ads and the absence of custom indicators. These limitations make it less user-friendly compared to FxReply.
Most free tools focus on manual backtesting, but some like FxReply allow limited custom indicators and scripts.
Exness Terminal has significant drawbacks, including a lack of key features like trade execution, timeframe switching during backtesting, and time zone adjustments. These limitations make it unsuitable for comprehensive Forex backtesting, though it does offer free bar replay.
I’m using FxReplay which one are you using