GPS Forex Robot is an expert advisor that has a fully automated design. It claims to provide consistent results with high returns. The developer assures a monthly return of more than 30%. He maintains that this FX EA can work in any market scenario and produce the promised returns. To purchase this FX robot, you need to pay $149. The price includes a lifetime license, video tutorials, and webinar recordings as bonuses. A 60-day money-back guarantee is present for the product. As per the developer, this system has been in the market for more than four years.
Is GPS Forex Robot good?
From our overview of the system, we find that the developer provides verified trading results and backtests which help in evaluating the FX EA. But the high drawdown seen in the results and the lack of sufficient explanation for the approach makes us suspect this is not a profitable EA.
Features of GPS Forex Robot
The key features that the developer reveals for this FX robot are:
- Optimized settings that ensure safe and successful trading.
- Use of trailing TP.
- Ability to make changes in the parameters to adapt the system to your specific trading style.
- Easy installation and use.
As per the developer, this system does not use the grid, Martingale, or no-SL trading methods. It uses the trend following approach and a reverse trend method for increasing returns and limiting losses. From the features and info provided, we can see that the very minimal details are present which makes it difficult to analyze the system and its functionality.
|Bad (3 out of 5 rating based on 113 reviews on FPA)
What strategy does GPS Forex Robot use?
According to the info that the developer provides, this FX robot identifies short-term profitable price movements accurately. Mark Larsen, the developer, explains the origin of the name due to its high accuracy in identifying the right movements, which makes it similar to a GPS. A reverse approach is also used wherein an opposite direction of trade helps to cover losses if they occur. We find the explanation vague and insufficient making us suspect the dependability of the ATS.
Backtesting vs live trading results
A few backtests are present for this MT4 tool. Here is a strategy tester report for the EURUSD pair using the H1 timeframe.
From the above report, we can see a total net return of 100951 was generated for an initial deposit of 10000. A total of 995 trades were executed with profitability of 88.74% and a profit factor of 2.84. The maximum drawdown for the account is 5.68%. For the test done from 2007 to 2021, we find the profits are not very high. The low drawdown and decent profitability percentage indicate an effective approach. But since the test was based on historical data, we cannot predict a similar result in the live trading.
Live verified trading stats are present for the ATS. Here is a real USD account using the leverage of 1:200 on the MT4 platform.
From the trading stats, we can see a total profit of 566.97% and an absolute profit of a similar value. The daily and monthly returns are 0.06% and 1.68% respectively. A drawdown of 37.70% is present for the account that started in 2012 with a deposit of $100,000. The total number of trades executed is 500 with 94% profitability and a profit factor of 2.01.
From the trading history, we see a lot size of 55 is used. The high drawdown and big lot size reveal a high-risk approach. Further, the trading frequency for the EA is very low which will not be acceptable for many traders.
The core team
As per the website info, Mark Larsen is behind the creation of this FX EA. Antony and Ronald, programmers, are part of the developer team. There are no details about their experience in trading. We could not find a location address for the company. A phone number is provided for contacting the developer. Support is via an online contact form.