GPS Forex Robot is a system that automates trading for users. The developer of this trading system is known as Mark Larsen. Overall, Mark seems to be a trustworthy individual. Moreover, we know that he is willing to provide updates for the GPS Forex Robot. This is a good thing because it makes sure the system stays up to date with strategies and market events.
However, this is not the only thing that matters when it comes to a forex trading system. We have to look at the system closely to see how it works and the results it produces. That is the only way to know whether the system is among the best forex trading robots in the market.
The last update of the system is from 2015. We are now on the third version of the software. Mark claims that this version is for a private group of traders. He assures clients profits by claiming that the robot is now making over 30% profit per month. We will have to see the trading results before we can verify this.
Sadly, Mark does not reveal where he operates from. We always want to know such details so that it is easy to track someone down in case of a problem. However, we will not count the system out yet. Here is our full review of the GPS Forex Robot.
GPS Forex Robot Review
It is refreshing to see a forex robot developer not hide in the shadows. The man behind this trading robot introduces himself to the community, and his name is Mark Larsen. We have looked into his identity and found that this is a real person.
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It is a good sign that a mysterious individual does not run this company. We all know the dangers of investing with unidentifiable people on the Internet. Mark claims that the system has a 98% accuracy level. This means that the system is almost perfect in its trading operations. From where we stand, we feel like this number is a little exaggerated.
The forex space experiences a lot of price volatility. This makes it very hard to win on all trades. Even with the best systems, it is common to have a few losing trades. We will have to look at the trading results to determine whether this number is truthful.
Mark claims that the new version of the system works four times faster than any other robot. Further, he claims that it is twice as safe and much more profitable. He believes that this makes it perfect for making passive income from the forex markets. All you have to do is sit down and let the robot do all the earning for you.
Clients can get in touch with the company via email on [email protected] However, the company does not reveal how long it takes them to respond to customer queries.
Pricing and Features
To gain access to the robot, clients have to pay a one-time fee of $149. This is a fair price for a forex robot. The company accepts payments through credit cards or bitcoin deposits. Further, the company offers a 60-day money-back guarantee.
Clients can contact the company within this period and get a full refund if they are dissatisfied with the robot’s performance. This shows that Mark has confidence in his trading software.
In terms of features, you get the usual. The robot allows automatic trading of several currency pairs. The robot works best with the EURUSD, EURGBP, USDCHF, and GBPUSD currency pairs. Additionally, the robot works best in any timeframe. The robot is designed to work on the MT4 terminal. The leverage recommended by the developer is 1:200.
GPS Forex Robot Trading Strategy
The developers of this forex robot do an excellent job of informing their clients about the trading approach they use in the market. Mark claims the system is based on trend and hedging. He claims that these approaches are what make the system achieve a 98% accuracy level.
Additionally, he says that in the 2% of cases, when it goes wrong, they have added a great reverse strategy. The strategy instantly opens a trade in the opposite direction and covers the small losses. This makes the robot undefeatable on both back tests and live trading.
The company claims that the best part is that the robot does not involve tricks like martingale, grid, or stop-loss trading. However, we feel like the company is dishonest to clients on this. On their MT4 statements, we see a trade reversal after a losing trade. The hedging trade, in this case, is seven times larger than the losing trade. This is the classic form of a martingale strategy.
The problem with this strategy is that it involves many risks. It reverses a trade risking a larger portion of the account. Market volatility could trick the robot into a series of losing trades. Consequently, it could blow up an account in no time.
One thing we have to applaud is the trading performance of the GPS Forex Robot. Mark provides a verified Myfxbook account to showcase the robot’s performance. The account he provides shows a gain of 545.92% from May 21st, 2012, to date. The overall win percentage is 94%, and the monthly gain stands at 1.87%.
However, we notice that the software takes a prolonged and systematic approach. It has only 480 trades in the time it has been active. Most of the trades are from the year 2012, and from there, the number goes down each year. In 2020, the system only has 19 trades. The system is trading only 1-2 times per month. The gains in this approach can’t be much. Not many traders will appreciate this approach.
Furthermore, the results also show a drop in monthly gains. The percentage gain per month in 2012 was at 15 %. Fast forward to 2020, and the gains are below 1%. The robot is still winning but at a prolonged rate.
There are many reviews about the GPS Forex Robot on the FPA forum. Generally, the system does not have a low rating. Most of the reviews are positive, and the customers seem to enjoy the robot’s performance. Consequently, the robot has a 3.7 rating out of 5. This is not bad, but we see room for improvement.
The developers can make some changes to make their trading system more efficient. Moreover, some scam affiliate marketers are pushing the software hard in the market. This is undoubtedly a cause for concern.
Overall, the GPS Forex Robot seems legit. Gpsforexrobot.com introduces us to the developer Mark Larsen, which is refreshing to see. Moreover, the company has a level of transparency, which we cannot make a fuss about. Additionally, they provide a verified record of trading performance.
However, we cannot recommend this robot to you just yet. The developers have a few details they need to iron out before we can fully trust the product. They need to be clear whether the robot uses the martingale strategy in some cases. Moreover, the gains are prolonged with this robot, and not everyone appreciates this.
Until they deal with these loopholes, we cannot place them among the best forex trading robots.
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