FXReplay is one of the most complete manual backtesting platforms on the market, and today it's AlphaNex's main competitor. Both target the same user: the serious trader who wants to test strategies as in live, with a journal, AI Coach and prop firm simulator built in.
This comparison is written by the people who build AlphaNex. The platforms are very similar in feature set — the choice comes down to specific details. Let's look at them honestly.
Real 2026 pricing
FXReplay
- Free forever: limited, email required
- Intermediate: $17.99/month (or $15/month annual = $180/year). Limited sessions, limited AI queries, no futures/stocks data, no seconds data
- Pro: $35/month (or $29.17/month annual = $350/year). Unlimited everything + futures + stocks + seconds timeframe
AlphaNex
- Basic: €19.99/month (VAT included)
- Pro: €24.99/month
- Max: €44.99/month
Entry-level pricing is very similar ($17.99 vs €19.99). On the Pro tier, FXReplay is more expensive ($35 vs €24.99). AlphaNex Max ($44.99) includes advanced features that FXReplay already covers in its Pro tier.
Feature side-by-side (the truth)
Both offer the essential core of modern manual backtesting. Let's see where they really differ.
Available assets
- FXReplay: Forex + Futures + Stocks + Crypto (Pro tier for futures+stocks)
- AlphaNex: Forex + Indices + Commodities + Crypto (85+ instruments, all tiers)
Tie on the main markets. FXReplay has individual stocks, AlphaNex doesn't. AlphaNex includes indices and commodities in all plans, FXReplay only in Pro.
Built-in AI
- FXReplay: Mentor AI (beta) — LLM-based trading assistant
- AlphaNex: Edge AI (personal coach) + Auto Strategy Builder (describe a strategy in plain English, AI translates it into testable rules)
Both have AI. The difference is that AlphaNex includes a Strategy Builder that converts natural language into executable strategies. FXReplay has FXR Script for custom indicators, a different concept (more technical, less chat-based).
Prop Firm Simulator
- FXReplay: available, with popular prop firm rules
- AlphaNex: 17 prop firms simulated with Pass Probability calculated via Monte Carlo
Both have it. AlphaNex differentiates with Pass Probability calculated statistically from your historical trades — a feature that FXReplay doesn't document in the same way.
Minimum timeframe
- FXReplay: seconds (Pro tier)
- AlphaNex: M1 (minute)
FXReplay wins here. If you do aggressive scalping or tick analysis, seconds are essential. AlphaNex starts at the minute level.
Journal
- FXReplay: Live Journal, P&L tracker, performance calendar, time-based analytics, on-chart trade review
- AlphaNex: Journal with auto screenshots, 30+ metrics, calendar P&L, correlation matrix, Monte Carlo, What-If Simulator, AI Diary
Both advanced. AlphaNex includes the What-If Simulator (replay how your real trades would have gone with different parameters) — a unique feature. FXReplay has a more visual review.
Monte Carlo
Both include it. Same concept (1,000 simulations on historical trades to estimate the likely worst-case drawdown).
Custom indicators
- FXReplay: FXR Script beta (proprietary language)
- AlphaNex: Auto Strategy Builder (describe in plain English, AI generates code) + 47+ predefined indicators
Different approaches: FXReplay is programmatic (you write code), AlphaNex is natural-language (you ask the AI). It depends on your preferences.
Languages
- FXReplay: English (with pricing in BRL for Brazil)
- AlphaNex: native Italian + 4 other languages (EN, ES, FR, DE)
For the Italian trader, AlphaNex speaks your language. FXReplay is English-only.
Where FXReplay is better
1. Seconds timeframe
For aggressive scalping or studying micro-movements, seconds are irreplaceable. AlphaNex doesn't offer them.
2. Individual stocks
FXReplay includes stocks (Pro tier). AlphaNex has indices (S&P 500, NASDAQ, etc.) but not individual shares like AAPL, TSLA, etc.
3. Maturity
FXReplay has been on the market for more years with a well-established Discord community. A more mature track record of feedback and bug fixes.
4. Advanced multi-chart
FXReplay has very well-developed multi-pair multi-chart. AlphaNex has multi-TF and MTF charts but fewer "simultaneous multi-pair" features.
Where AlphaNex is better
1. Price (Pro vs Pro)
AlphaNex Pro €24.99/month vs FXReplay Pro $35/month. About 30% difference in AlphaNex's favor on a comparable plan.
2. Italian language
Native Italian + 4 languages. FXReplay English only. For non-bilingual users this matters.
3. Auto Strategy Builder with AI
Describe a strategy in simple Italian ("scalping with oversold RSI and sweep low") and the AI converts it into testable rules automatically. FXReplay has FXR Script but it requires writing code.
4. Explicit Pass Probability
For prop firms, AlphaNex calculates via Monte Carlo the statistical probability of passing each challenge on your real trades. See how to use it for FTMO.
5. What-If Simulator in the Journal
Replay how your real trades would have gone with: different RR, automatic partials, auto break-even, different stop, different % risk. A unique AlphaNex feature.
6. Multi HTF Candle Overlay PO3
Native indicator that shows up to 3 higher timeframes overlaid on the right side of the current chart (see PO3 guide). Specifically for ICT traders.
Which one to pick
Pick FXReplay if:
- You scalp at seconds level
- You trade individual stocks (beyond Forex/futures)
- You're comfortable in English and prefer an English-speaking community
- You want a more established platform with years of development
- You have budget for the Pro plan ($35/month)
Pick AlphaNex if:
- You prefer an Italian interface
- The Auto Strategy Builder in Italian interests you more than scripting
- You trade Forex/indices/commodities/crypto (no individual stocks)
- You want explicit Pass Probability for prop firms
- You're looking for a What-If Simulator to optimize real trades
- You want to pay less on the Pro plan (€24.99 vs $35)
Honest verdict
FXReplay and AlphaNex are very close in feature set. Both have AI, prop firm simulator, advanced journal, Monte Carlo, multi-asset. The choice depends on specific preferences:
- Language: Italian (AlphaNex) vs English (FXReplay)
- Assets: native indices/commodities (AlphaNex) vs stocks (FXReplay)
- AI: natural language strategy builder (AlphaNex) vs scripting (FXReplay)
- Timeframe: M1 minimum (AlphaNex) vs seconds (FXReplay)
- Pro pricing: €24.99 (AlphaNex) vs $35 (FXReplay)
For the average Italian trader, AlphaNex offers more value in the native language at a lower price. For aggressive English-speaking scalpers who want stocks, FXReplay wins.
Both have a free plan. The most sensible move is to try both for 30 minutes and decide which UI you prefer.