This is the Best Trading Simulator to Become Profitable
- CPP Trading
- Oct 12
- 7 min read
Understanding how to backtest your manual trading strategy effectively can be a total game changer and is the key to becoming a profitable trader.
You’ll learn exactly how to install, set up, and use the most powerful and realistic backtesting tool available today — the Soft4FX Simulator.
We’ll walk through the installation process, ideal settings, and a few important tips to help you start practicing and perfecting your trading strategy like a professional. Everything is done without risking real money.
–> Watch the video at the end, for a step-by-step tutorial with trade example.
Why Soft4FX Is the Best Backtesting Software
When it comes to backtesting, there are a lot of simulators on the market, but they all have limitations or are very expensive. Over the years, we’ve tested multiple programs and platforms, and the Soft4FX Forex Simulator stands out as the best and most reliable option. It works as a convenient plug-in for MetaTrader (MT4 & MT5). It’s very affordable and a must-have for any trader who wants to become profitable.
It’s easy to use and gives you full control over every aspect of your trading. You can:
Simulate real market conditions with historical data going back 10+ years
Trade multiple pairs simultaneously directly on charts (like in a live market)
Adjust spreads, leverage, commissions, and more
Use realistic money management — including percentage risk per trade
The software is a great tool for beginners and professional traders to test a price action strategy and other setups, or to fine-tune an advanced manual strategy with different indicators. The simulator lets you practice efficiently and build real consistency.
How to Install Soft4FX Simulator on MT5
Step 1: Download the Software
Start by downloading Soft4FX from the official website (link in the description).Make sure you choose the MT5 version, then open your download folder and double-click the installer.
Scroll to the bottom, click Accept, and the program will automatically detect all MT5 installations on your computer. Click Install, and you’ll see the process complete with a “Success” message for each version of MT5 found on your computer.
Once that’s done, you can close the installer and open MetaTrader 5.
Step 2: Launch the Simulator
In MT5, open your Navigator panel (on the left). Find the Soft4FX folder, and double-click on “Forex Simulator”.
When the setup window appears, click "OK". If you already purchased the full version, just enter your email and activation code.
If not, use the link in the description to get the full lifetime version at a 20% discount — it includes both the MT4 and MT5 simulators, plus over 10 years of historical data.
As a bonus, you’ll also receive 1 month of free access to the CPP Traders Master Group, where you can join live sessions with other traders and learn price action strategies that are used by hedge funds and proprietary trading firms.
Download Data and Chart Templates
Step 3: Open the Data Center
Before running your first simulation, you must download historical data. Click Data Center, select your preferred data folder, and choose a data provider. We always use
Dukascopy for accurate tick data, but you can select any of the other options.
💡 Pro Tip: Only download data for the pairs you actually trade. Downloading all symbols can take hours, especially if you’re pulling 10 years of data.
For example:
Select EUR/USD, choose a 2-year range, and click Download
Then repeat the same for XAU/USD, GBP/JPY or any other pairs you plan to backtest
Step 4: Customize MT5 Charts (with Templates)
Once the installation is complete, you can load your chart templates to quickly apply your preferred setup—indicators, colors, and chart styles—so that every pair and timeframe looks consistent. This saves you from manually adjusting each chart.
If you don’t have any templates saved yet, you can Learn How to Create or Download Templates
Best Settings for Realistic Trading Simulations
Now that you’re ready to start a New Simulation, here’s how to set it up properly.
First, choose the pairs you like to trade — you can load several at once if you like. Set the spread manually to match your broker’s average so your results are realistic. If you leave it too tight or at zero, your trade results might look better than they would in real market conditions.
Add a small commission per lot as well, ideally matching what your current broker charges. If you want to trade with lower commissions and access institutional trading conditions, you can use one of the brokers tested by CPP Trading.
Next, adjust your leverage and starting balance to whatever you normally use.
Make sure the rewind option is turned on. It allows you to go back in time during the simulation and see how the price moved, which is great for practicing different entry and exit strategies.
Lastly, set the time zone to your preference. Try to match it with your local time so you’re trading during the hours you’d normally be in front of the charts.
When you’re done, click Start Simulation and your full trading panel will open, ready to go.
Access Economic News & Session Map
When you’re using the Soft4FX Forex Simulator, two really useful features you’ll want to have open are the Session Map and the News Panel. They help you trade in a more realistic environment, just like you would in the live markets.
Session Map
The session map shows you exactly where you are in relation to the Asian, London, and New York sessions. This is super helpful because volatility changes throughout the day. For example, the London and New York sessions usually bring the most movement, so if that’s when you normally trade, you’ll want to practice during those hours.
Economic News
You also have the News Window, which shows upcoming news events. The low-impact news are usually not very relevant, but it's a good idea to keep an eye on the high-impact events like CPI, NFP, or Unemployment Rates — those can move the market fast. It’s a good habit to check what’s coming up so you can manage open trades or stay out of the market if needed.
How to Place Trades & Use Rewind Function
You can place trades directly from the panel on the left inside the Soft4FX Forex Simulator. Here you can choose between a fixed lot size, risk percentage, or risk in dollars. Using a risk percentage (for example, 1% per trade) is generally the best option since it keeps risk consistent across all setups.
Next, select Visual Mode. This mode lets you drag your stop loss and take-profit levels directly on the chart. The simulator automatically adjusts your lot size according to your risk settings, just like a real professional trade manager would do.
Managing Trades and Partial Profits
You can view and manage your open trades at any time:
Modify stop loss and take profit levels
Move your stop to breakeven
Close partial profits (e.g., close 50% or 80%)
This flexibility allows you to test multiple trade and risk management strategies.
Once your trade is placed, you can:
Run the simulation in real time or speed it up
Skip forward to the next candle
Pause and rewind to go back in time
The rewind feature is especially useful because it lets you go back in time to study your setups and understand what worked or what went wrong. This helps you progress much faster.
Save and Load Simulation Sessions
The Soft4FX Forex Simulator lets you pause, save, and continue your trading practice exactly where you left off. This feature is essential for backtesting strategies efficiently and keeping your progress organized.
How to Save a Simulation
To save your session:
Select "Simulation" on the top left on your Soft4FX panel in MT5.
Click “Save Simulation”.
Choose a folder and give your session a name, e.g., "Simulation_Session_1".
Click "Save".
Your trades, chart settings, and pending orders are now stored, ready to continue anytime.
How to Load a Simulation
To continue a saved session:
Click “Load Simulation” after opening Soft4FX in MT5.
Navigate to your saved file and open it.
You’ll return to the exact point where you left off, with all your trades, stop-losses, and take-profits still in place. This makes it easy to jump back into practice, skip to specific sessions, or review past trades to improve.
Trade History and Backtesting Results
At any time during your session, you can check all your trades in the Trade History tab. It shows everything from your entries, exits, lot sizes, and profit or loss, plus a clean graph that tracks your balance and equity over time.
The equity graph makes it easy to see how your performance changed throughout the trading session and where you did well and where things went wrong.
You can also export the full report with all your stats to keep track of your results or compare different strategies later. It’s one of the best ways to review your progress and see how consistent your trading really is.
Video Tutorial (Step-by-step)
Watch this YouTube video tutorial for a complete, hands-on demonstration of the Soft4FX Forex Simulator for MetaTrader — including installation, settings, and real backtesting examples.
You’ll learn how to simulate market conditions, test your trading strategy, and practice trading faster than on any demo account to become profitable.
✅ Bonus: Use the Free 20% Discount Code below to save on your lifetime license.
Includes both MT4 & MT5 versions, 10+ years of data, and one-month access to the CPP Traders Master Group.
Free Soft4FX Discount Code: MINUS20-ID13342
At CPP Trading, we learn, earn, and grow together as a community!
Have questions or thoughts? Leave them in the comments below – we’d love to hear from you! If you found this post helpful, give it a like and make sure to stay tuned for more content.
Trade safe.
Ian - CPP Trading
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