According to its creator, “GPS Forex Robot generates outstanding and stable profits 98% of the time, and nothing is stopping it.” This is a very bold claim that needs verification. The creator also claims that the robot has helped the programmers gain 30% profit from their initial profit. Throughout this article, we perform an EA review on GPS Forex Robot to ascertain whether it’s a worthy investment. We will analyze its website, trading technique, stats and user reviews to get an in-depth understanding of how it works.
What is GPS Forex Robot?
This is a forex trader created by two programmers Antony and Ronald, in conjunction with a renowned EA beta tester and reviewer, Mark Larsen. This is a good sign because most robot creators hide their identities.
The creators claim that the robot doesn’t use Martingale, grid testing or scalping. They claim that they’ve come up with an entirely new approach that works as a GPS navigator, locating short-term market movement with a high probability of winning. GPS Forex Robot is compatible with MetaTrader 4 and requires a minimum $100 deposit.
The robot costs $149, which is incredibly lower than other traders today and is favorable to amateur traders. It trades on several currency pairs, including EURUSD, EURCHF, EURGBP and USDCHF. With the purchase, you get the robot (version 3), compatible with any OS, video tutorials, webinar recordings, dedicated user support and a 60-day money-back guarantee using Clickbank.
EA Review: GPS Forex Robot
The robot is an automatic, infrequent trader, sometimes skipping a few days. It uses trend trading and stop and reverse for loss recovery. The EA has been modified to recognize more market metrics than regular traders. The creators don’t talk much about their trading strategy other than what techniques it doesn’t use. Despite insisting that their product doesn’t use Martingale, we know that stop and reverse is at least a modified version of this technique.
EA Review: Stats and Community Reviews
Mark Larsen has been gracious enough to showcase his clients’ winning accounts as proof of quality, and despite his cluttered, wordy-as-hell website, we are impressed by the bot’s success rate. His biggest success story is a $1M deposit that has grown to $3.1 M. To show that it works on small accounts, we see a $250 deposit that has expanded to $3700.
GPS Robot’s backtest runs with 90% modeling quality and shows an expected 2.84 profit factor. The expected drawdown is 5.68%. According to the backtests, the trader is expected to win at least 98% of its trades.
We discuss the $100,000 deposit that has gained +557.75% in profit though we display two winning accounts. The current daily profit is 0.06% and a 37.70% drawdown which is relatively high for the trader. The highest drawdown witnessed for this bot before this was 12%. Myfxbook verifies its track record.
Despite looking good on paper, the user reactions to this bot are less than stellar. We will let you decide.
Despite the bot showing great results for more significant accounts, smaller investments are being massively blown up. The creators seem to know what they are doing, and the success rate is massive for some accounts but extremely low for most. The drawdowns have grown exponentially. It’s a great trader, but we recommend being cautious when investing with this robot.