Amaze is an MT5 trading system that is fully automated to identify the best trading opportunities. The ATS can work on multiple currency pairs including EURUSD, USDJPY, and GBPUSD. With fixed SL and TP settings, this EA claims to take advantage of the market vulnerabilities and profit from them. Promoted on the MQL5 site, this FX EA is developed by Anton Kondratev. 

Amaze: Characteristics

Amaze: Characteristics

Published in May 2021, this FX EA uses low spreads, optimized settings, low ping, and fine-tuning. The constant analysis and verification of the broker by the EA, when the spread exceeds the set values, results in the system optimizing the strategy accordingly. In case of low spreads, the EA opens trades earlier to gain more returns. Thus, with this ATS, you will find varied opening prices which are also based on the slippage. A larger spread results in greater slippage. 

Important features of the system include protection from broker slippage, large spreads, gaps, and repeated levels. The news filter feature is optional and the user can activate the Grid approach with a fixed SL value for the averaging. Inclusion of buy or sell orders is optional and due to the open system design, all the settings made influence the trading. 

Currency Pairs, Strategy & Timeframe

Amaze presentation

While the developer does not divulge the precise trading approach used, there is mention of the system independently analyzing the broker and adapting to the delays and slippages that occur. For averaging historical quotes, inbuilt mechanisms or indicators are not used. 

The trading approach requires a more elaborate explanation to understand its efficacy. This EA uses the H1 time frame and focuses on the EURUSD pair mainly. All default settings are for the EURUSD pair and the recommended broker is ICMarkets. The developer recommends the use of brokers with minimal or zero spreads VPS. 

Amaze Trading Performance

Backtesting results are provided for this FX robot on the MQL5 site. Here are screenshots of the strategy tester reports of this FX EA verified by the myfxbook site.

Amaze trading results
Amaze trading results

From the report, we can see that the test was started in January 2020 and was conducted up to May 04, 2021. It was run on the one-hour time frame showing a total profit of 31024.72%. Daily and monthly profits of 1.22% and 43.7% are shown. The drawdown value was 35.27%. This Every Tick model of 99.9% quality reveals profitability of 99% and a profit factor value of 137.52 for a total of 356 trades. 

From the trading history, we could see lot sizes of 100 were used. While the profit appears to be high, due to the test being based on historical data, we cannot predict a similar performance in real account trading. Further, the high drawdown and huge lot size are shortcomings that indicate the performance of the system is not reliable. As no real account trading results are present for this EA, we are unable to compare them with the backtesting results. 

How much does it cost?

Amaze pricing

Traders interested in purchasing this EA need to shell out $335 or opt for the three-month rental that costs $275. The developer also offers a free demo and so far, 524 demo versions have been downloaded. No mention of a money-back guarantee is present which makes us suspect this is not a reliable FX robot. Compared to the prevailing prices of FX robots, the price quoted is very high.

Reviews from customers

Being a recently published EA, there are no user reviews for this site on reputed sites like Forexpeacearmy, Trustpilot, etc. There are a couple of user feedbacks present on the MQL45 site. Here are the responses:

Amaze Reviews from customers
Amaze Reviews from customers

From the above feedback, it is clear that the users find the EA is capable of decent returns. One of the users mentions the manual adjustment of GMT stating that it is a big downside. 

Should You Use AmazeRobot?

ProsCons
Fully automated EAThe strategy is not explained
Optimized settingsNo live verified results
Price is expensive
No money-back guarantee provided

Conclusion

Amaze EA boasts of high profitability with its optimized and customizable settings. However, our analysis reveals that the claims are totally false. For starters, the developer does not provide a proper explanation of the approach used for trading. Although backtesting results for the three currency pairs are provided by the developer, we cannot rely on them entirely. The EA may not generate a similarly good performance in the future. 

Without verified real account trading results and the expensive pricing, we find that this is not an expert advisor that we would recommend for a novice trader or a professional expert. Furthermore, there are no customer support options provided on the site other than messaging to the developer. With the lack of vendor transparency in the strategy explanation and the absence of live trading results, this is a scam EA that you should avoid.