How does TestMax backtesting work?

TestMax replays real historical market data candle-by-candle at adjustable speeds (1x to 50x). You place market, limit, stop, or stop-limit orders in real time as the chart progresses. The platform tracks your positions, calculates P&L, and provides detailed analytics including win rate, Sharpe ratio, profit factor, equity curves, and calendar heatmaps.

Is TestMax free to use?

Free includes the latest two months of data on NQ and ES futures, EURUSD, and other Free-enabled instruments, with simulated orders, drawing tools, analytics, and journaling. MNQ, MES, and GC futures currently require Pro. Pro starts from $14.99/mo. See pricing at https://test-max.com/pricing/.

What markets and instruments does TestMax support?

TestMax supports futures, forex, crypto, spot metals, and selected CFDs. NQ and ES futures, EURUSD, and other Free-enabled instruments are available on Free with the latest two months of data. MNQ, MES, and GC futures currently require Pro. WTI crude oil is available as LIGHTCMDUSD, a CFD; CL futures are not currently available. Check the instrument catalog for current access.

What analytics does TestMax provide?

TestMax provides comprehensive trading analytics including: win rate, profit factor, Sharpe ratio, maximum drawdown, equity curve visualization, calendar heatmap showing daily P&L, time-of-day analysis, trade journal with tags and ratings, session-by-session breakdowns, and per-instrument performance metrics. All analytics update in real time as you trade.

What is Challenge Mode in TestMax?

Challenge Mode (Pro plan) runs a replay session under evaluation-style rules: trailing and static drawdown, a daily loss limit, profit targets, consistency rules, trading-hour restrictions, and weekend/overnight holding rules. Every figure is simulated — it is a practice environment for rule discipline, not an evaluation and not an account.

How is TestMax different from paper trading?

Unlike paper trading which uses live markets (requiring you to wait in real time), TestMax replays historical data at adjustable speeds. You can compress hours of market action into minutes, practice on specific historical scenarios (like high-volatility days), and complete multiple trading sessions in a single sitting. This makes deliberate practice far more efficient than traditional paper trading.

What drawing and analysis tools does TestMax offer?

TestMax includes 40+ professional drawing and analysis tools including: trendlines, horizontal lines, Fibonacci retracement, channels, rectangles, measurement tools, and more. Volume Profile is available on the Pro plan. Every plan gets minute-to-daily presets on its enabled instruments; multi-chart layouts require Pro, allowing you to view context timeframes alongside your trading timeframe. Pro adds the seconds timeframes supported by the instrument data and custom timeframes: type any value you want, such as 7m or 90m, plus weekly, monthly, quarterly and yearly bars.

What timeframes does TestMax support?

Every plan gets the preset ladder: 1m, 5m, 15m, 30m, 1h, 4h, and daily bars. Pro adds the seconds charts supported by the instrument data and custom timeframes, so you can type any value you want, such as 3m, 7m, 45m, or 90m, and switch to weekly, monthly, quarterly, or yearly bars. Which values are available varies by instrument, and the timeframe picker shows the rule for the instrument you are on.

Can I track my trading journal on TestMax?

Yes, TestMax includes a built-in trade journal where you can log notes, assign tags, and rate your trades. Journal entries are linked to specific trading sessions, making it easy to review your decision-making process alongside your actual trade results and analytics.

Does TestMax work on mobile devices?

Chart replay supports computers and tablets with mouse, trackpad, touch or pen input. Touch-only screens need a viewport at least 768 pixels wide; narrower phones show a screen-size notice. Your account, analytics, billing and settings pages work on a phone. The platform is installable as a Progressive Web App (PWA).

How does TestMax pricing compare to alternatives?

TestMax Pro starts from $14.99/mo, which is significantly less than FX Replay ($35/mo) or TradeZella Pro ($59/mo), using monthly billing before tax. TestMax also offers a free plan with market replay, order types, drawing tools, and analytics. See pricing at https://test-max.com/pricing/.

Master Your Trading
Risk Nothing.

Start free with NQ and ES futures or EURUSD forex replay. Practice on historical data, place simulated trades, and review your performance. Explore all backtesting features.

Start Free

4,000+ traders have signed up · Free plan · No credit card · Pro just $14.99/mo — see how we compare

ES · 1min+$1,240.00

09:3010:1511:0011:45

See the Platform in Action

A professional-grade trading replay environment built with the tools you need.

PRO

Balance:$100,000.00

Equity:$101,240.00

Realized P&L:+$1,240.00

Unrealized P&L:+$240.00

ES · 1min

0.382

0.5

0.618

09:3010:0010:3011:0011:3012:0012:3013:00

40+ Drawing Tools

BUY

SELL

Place Order

Order Ticket

ES · Mar 2024

4,521.25

Live

BUY LongSELL Short

MKTLMTSTPS-L

Qty

−1+

Entry

Mkt4521.25

12510

PXTKPT

SL4515.00

TP4533.25

Set On Chart

Loss

-$125

Gain

+$250

R:R

1:2.0

BUY · 1 @ Market

Positions (1)

LONGES x1

+$240.00✕

Pending Orders

No pending orders

Risk : Reward

Jump

Speed1x2x5x10x25x50x

TF5s10s1m5m15m

ESJan 15, 10:23

35.3%End

NQ5M

ES5M

NQ1H

ES1H

TradesAnalyticsLogsNotesSave Session

Multiple Instruments. One Replay.

Compare ES with NQ, or EURUSD with GBPUSD, in up to four synchronized charts on Pro. Mix supported instruments and timeframes while trading from your primary chart. Secondary panes are read-only and follow the same replay clock.

Up to four charts with supported instruments and timeframes
Synchronized crosshairs across timeframes
Read-only context panes; orders stay on the primary instrument
Flexible layout presets

Pro Feature

Trade Under Evaluation-Style Rules

Practice only. Every balance, target, and limit is simulated.

Multi-Phase Evaluation
Clear Phase 1, then Phase 2 — each with its own target and limits.
4 Drawdown Types
Static, trailing intraday, trailing EOD, and EOD with lock.
Daily Loss Limits
Hit the limit and your day ends automatically.
Consistency & Rules
Min trading days, consistency score, profit targets.

Try Challenge Mode

Challenge Mode

Phase 1 of 2

Active

Profit Target$6,200 / $10,000

Daily Loss Limit-$800 / -$5,000

Max Drawdown · Trailing EOD-$1,600 / -$10,000

Trading Days 7 / 10

Consistency OK

From trades to understanding

Know Exactly Where You Stand

Find the sessions and decisions behind your results. Explore the curve and time breakdowns, then open Daily review to trace a result back to its trades.

Performance Analytics

Sample workflow

Total P&L+$2,09066 closed sample trades

Win rate54.5%36 wins · 30 losses

Profit factor1.66Gross wins ÷ gross losses

Max closed-trade drawdown−$670Largest peak-to-trough decline

Equity curve

Closed-trade balance · starts at $50,000

Ending balance$52,090

Mar 2Mar 18 · $51,285Mar 31

The risk behind the return

Read the size of wins and losses together.

Average win: +$146
Average loss: −$105
Largest loss: −$240

Best dayMar 9+$540

Worst dayMar 11−$640

When you trade matters

P&L by trade close time, across the filtered sample.

11:00 UTC+$7508 sample trades

Trading calendar

March 2026 · choose a day to inspect its trades

22 active days

Sun

Mon

Tue

Wed

Thu

Fri

Sat

SELECTED DAY

March 18, 2026

3 sample trades · closed in UTC

+$480

Sample trades for March 18
Time	Market / setup	Side	P&L
08:35	NQRange break	Short	−$80
11:46	NQPullback	Long	+$320
14:24	ESPullback	Long	+$240

Illustrative trade history. Values are before costs and do not represent expected returns.

Review the outcome. Understand the decisions. Plan your next session.

Explore TestMax analytics

Drawing tools, indicators, timeframes, Volume Profile, the Python Algo Playground and timezone settings are all on the features page.

See every feature

Simple, Transparent Pricing

Free plan with full backtesting features. Upgrade to Pro for unlimited historical data, Challenge Mode, and algo backtesting.

Free

For your first backtesting sessions

Free forever. No credit card required.

Get Started Free

What's included:

Last 2 months of data
Historical market replay
Full charting & order ticket
Trade analytics & journal
Equity curve tracking
Ad-supported

POPULAR

Pro

For daily practice and challenge drills

$14.99/mo

Billed monthly. Cancel anytime.

Start Pro

Everything in Free, plus:

Unlimited historical data
No ads — clean interface
More US futures — MNQ, MES & GC
Multi-chart layouts (up to 4 charts)
Seconds timeframes — where supported by instrument data
Custom timeframes — any value, plus weekly & monthly bars
Volume Profile — session, visible & fixed range
Auto break even — moves your stop to entry once a trade is in profit
Real-time speed — 1x plays a 5-minute bar in five minutes
Economic calendar — releases revealed as they print
Challenge Mode — evaluation-style rules
Algo Playground
Pine Script indicators & strategies
PDF report export
Priority support

Compare all plans →

How TestMax Compares

See why traders are switching to TestMax for backtesting.

Save $528.12/year vs TradeZella Pro

Included
Partial or limited
Not available

Capability

TestMax Pro

$14.99/month

FX Replay

$35/month

TradeZella

$59/month · Pro

Backtesting Engine

Candle-by-Candle Replay

Real historical data, 1x–50x

Futures on Free Plan

NQ and ES, latest two months

Free Plan Available

Full replay engine, no credit card

Forex only, 1-week data

No free tier

Drawing Tools

40+ tools

30+ tools

Challenge Mode

Replay Challenge Mode

Pro — rule presets + custom

No rule presets

Drawdown Rule Types

Pro — 4 incl. trailing

Max/daily loss, no trailing

Multi-Phase Evaluations

Pro

Analytics & Journaling

Trade Journal & Analytics

Win rate, Sharpe, profit factor

Equity Curve & Heatmaps

PDF Report Export

Pro

Automation

Python Algo Backtesting

Pro — templates + code editor

Bot API

Pro — common futures-gateway schema

TradeZella Pro pricing: September 2026. Monthly billing, before tax. Swipe sideways to see every column.

Start Free — Upgrade Anytime

Frequently Asked Questions

Everything you need to know about TestMax and trading backtesting.

TestMax is a backtesting platform for historical futures and forex replay, simulated orders, and trading analytics. Start free on NQ and ES futures, EURUSD, and other Free-enabled instruments; check the current catalog for plan access and available history.

Free Trading Tools & Guides

Free calculators and in-depth guides — no signup required.

Drawdown Calculator

Model trailing, EOD & static drawdown floors, buffer, and risk per trade.

Win Rate Calculator

Win %, expectancy, profit factor and breakeven win rate.

Futures P&L Calculator

Tick values and live P&L for NQ, ES, GC, CL and more.

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Latest From the Blog

Trading guides, strategy breakdowns and risk-rule explainers.

View all posts →

Master Your Trading
Risk Nothing.

See the Platform in Action

Multiple Instruments. One Replay.

Trade Under Evaluation-Style Rules

Know Exactly Where You Stand

March 2026

Equity curve

The risk behind the return

When you trade matters

Trading calendar

March 18, 2026

Simple, Transparent Pricing

How TestMax Compares

Backtesting Engine

Challenge Mode

Analytics & Journaling

Automation

Frequently Asked Questions

What is TestMax?

How does TestMax backtesting work?

Is TestMax free to use?

What markets and instruments does TestMax support?

What analytics does TestMax provide?

What is Challenge Mode?

How is TestMax different from paper trading?

What drawing and analysis tools does TestMax offer?

What timeframes can I chart on TestMax?

Can I track my trading journal on TestMax?

What is the Algo Playground?

Does TestMax have an API?

Does TestMax work on mobile devices?

How does TestMax pricing compare to alternatives?

Free Trading Tools & Guides

Drawdown Calculator

Win Rate Calculator

Futures P&L Calculator

Latest From the Blog

How to Backtest Forex Manually: A EURUSD Walkthrough

NinjaTrader Market Replay: Playback Setup and What to Compare

Guppy Multiple Moving Average: Read the Ribbon Before Testing It

Master Your Trading Risk Nothing.

See the Platform in Action

Multiple Instruments. One Replay.

Trade Under Evaluation-Style Rules

March 2026

When you trade matters

Simple, Transparent Pricing

How TestMax Compares

Backtesting Engine

Challenge Mode

Analytics & Journaling

Automation

Frequently Asked Questions

What is TestMax?

How does TestMax backtesting work?

Is TestMax free to use?

What markets and instruments does TestMax support?

What analytics does TestMax provide?

What is Challenge Mode?

How is TestMax different from paper trading?

What drawing and analysis tools does TestMax offer?

What timeframes can I chart on TestMax?

Can I track my trading journal on TestMax?

What is the Algo Playground?

Does TestMax have an API?

Does TestMax work on mobile devices?

How does TestMax pricing compare to alternatives?

Free Trading Tools & Guides

Drawdown Calculator

Win Rate Calculator

Futures P&L Calculator

Latest From the Blog

How to Backtest Forex Manually: A EURUSD Walkthrough

NinjaTrader Market Replay: Playback Setup and What to Compare

Guppy Multiple Moving Average: Read the Ribbon Before Testing It

Master Your Trading
Risk Nothing.