Forex Auto Millions is a fully automated Forex robot that works on the MT4 trading platform. Unlike most systems that trade in multiple pairs, this one is optimized for a single pair only. The vendor has tested this EA using historical data worth 18 years.
Forex Auto Millions: characteristics
There is no minimum account balance for this robot. You can get started with any amount you are comfortable with. Also, you can make it operate with any leverage. To make it run properly, you must have the desktop app of MT4. It won’t work on the web trader platform or the mobile app.
Forex Auto Millions does not rely on broker conditions. Therefore, you can use it with any broker that supports MT4. The vendor recommends choosing one that offers low spread/commissions, and faster execution speed. Even a person with no experience can easily work with this system since the vendor provides instructions for running it properly.
The developer has programmed default settings into this EA based on several years of testing. It is possible for the trader to select their own risk and lot size. If you wish to experiment with different timeframes, currency pairs, and settings, you should do so on a demo account.
Currency pairs, strategy & timeframe
This expert advisor trades exclusively in the EUR/USD pair. The vendor recommends running the EA on M5 charts. We don’t exactly know what kind of strategy the robot follows. However, the vendor has mentioned that the robot uses 40 technical indicators and 11 candlestick patterns.
Forex Auto Millions trading performance
This backtest was performed from 2003 to 2021 using an every tick model for the EUR/USD pair. There were 7382 trades placed during the testing period, out of which 100% were won. The EA didn’t lose a single trade, generating a total profit of $318895.70 using an initial deposit of $5000. Forex Auto Millions had a relative drawdown of 20.87%, which is slightly higher than normal. The average profit for this test was 43.20.
Here we have the live trading results on Forex Auto Millions presented in a demo account on Myfxbook. This account has been active since April 08, 2021. To date, the EA has conducted 628 trades through this account, winning 98% of them. Similar to the backtest, it has a very high win rate. However, the drawdown is also much higher at 39.73%. This tells us that the EA follows a strategy that has a high level of risk.
The time-weighted return for this account is 77.68%, while the profit factor is 3.06. At this moment, it has average daily and monthly gains of 0.20% and 6.38%. Here, it should be mentioned that the vendor has chosen to hide some of the parameters like balance, equity, profit, interest, deposits, withdrawals, average win, and average loss. The account was last updated on January 12, 2022, and the trading history is set to private. Thus, we are not able to perform an in-depth analysis of the EA’s trading style.
How much does it cost?
The original price of this EA is $99. However, using a coupon code, you can get $50 off, which brings the price down to $49. By purchasing the robot, you get access to a single live MT4 license and an unlimited number of demo licenses. If you require more licenses, you can buy more through the link shared in the instructions.
It is possible for each user to change the license to another MT4 account. You can use one license on several devices. When you make the purchase, you get the software along with the instructions and an activation link. There is a 60-day money-back guarantee for this product.
Reviews from customers
There is only a single review for this expert advisor on Forex Peace Army. Here, the user claims to have made a large profit after using the robot for 4 weeks.
Should you use Forex Auto Millions robot?
|Verified trading statistics||High drawdown|
|Lack of strategy insight|
|Lack of vendor transparency|
Forex Auto Millions is a robot that has a very high win rate. However, it suffers from a lack of transparency. The vendor has not shared too many details about the parent company and has hidden some of the important trading parameters. We have no idea what strategy this EA uses and it trades with a high drawdown.