Today’s review will be about a quite well-known EA – GPS Forex Robot 3.

GPS Forex Robot presentation

As soon as we stay several seconds on the site, we have this pop-up offer. Sharing any of our emails, we can get a demo account license and investor access to trading results.

GPS Forex Robot: Characteristics

GPS Forex Robot Characteristics

The main video was telling us about Mark Larsen, who he is, and about his way of trading and making profits.

GPS Forex Robot Characteristics

Next, we see a list of questions. Most profitable traders answered them much time ago, but for newbies, they’re hot ones.

GPS Forex Robot presentation

Slowly but surely, we go to the core – an EA and trading system behind it.

GPS Forex Robot Myfxbook

There’s a 3rd-party account that belongs to a rich investor with the availability to deposit $1M in trading. Now, the account is tripled.

GPS Forex Robot presentation

Also, the presentation includes many photos from exhibitions and so on, so those people should be real and influential.

Currency Pairs, Strategy & Timeframe

Let’s systemize what the developers told, first of all, about strategy.

  • The EA opens intraday trade between 11 p.m. and 2 a.m. depending on the broker GMT offset.
  • A reverse strategy allows opening a trade in the opposite direction with increasing Lot SIze (we can manage multiplier or turn this option off) to cover previous losses.
  • The robot doesn’t use Grid, Martingale, and trading without SL, only hedging.
  • The robot works on the H1 time frame.
  • The EA executes several times faster after receiving the 3rd update.
  • We can change many parameters to customize the trading experience as we want.
  • There’s a Trailing Stop Profit (but it’s a Trailing Stop Loss) feature to cover gained profits.
  • It works with EUR/GBP, EUR/USD, GBP/USD, and USD/CHF symbols.

GPS Forex Robot Backtests and Trading Performance

The presentation included both: backtest reports and real-account trading results.

GPS Forex Robot Backtests

There are several strategy reports. It’s a EUR/USD symbol on the H1 time frame. The test was performed from 2007 to 2020, with 90% modeling quality. The robot closed 995 deals with a 2.84 Profit Factor. An initial deposit of $10000 became $100951 of the total profit. The maximum drawdown was 5.68%. The win-rate for Short positions was 100%, for Longs was 87.51%. An average of consecutive wins is eight deals.

GPS Forex Robot Myfxbook

It’s a real USD account on FX Choice with 1:200 leverage. The robot trades through the MetaTrader 4 platform. Track Record is Verified for this account. The account was created eight years ago on May 21, 2012, and got a $100k deposit. An absolute gain became +548.29%. An average monthly gain is +1.85%. The maximum drawdown was 37.70% on April 16, 2020.

GPS Forex Robot advanced statistics

It opens trades now so frequently, so there were just 482 closed deals with 362 pips for eight years. An average win in pips is (5.08) when an average loss is fourteen times higher (-69.45). Longs’ win-rate is 93%, Shorts’ one is 100%. The robot trades a Long direction more often (461 deals) than the Short one (21 deals). An average trade length is around six hours. The Profit Factor is 2.08.

GPS Forex Robot advanced statistics

Trading 461 deals on BUY direction has brought -14.8k of the profit. Twenty-one deals of Shorts covered, having gained +$563,1k of the profit.

GPS Forex Robot Trading results

Most time, it opens trades at Midnight or 1 a.m., depending on the FXChoice’s GMT offset.

GPS Forex Robot Trading results

Most trades were opened on Tuesday and Thursday after collecting the previous day’s data.

GPS Forex Robot Trading results

The robot trades with quite high risks.

GPS Forex Robot Trading results

The EA has hidden SL and TP levels. If it loses a deal, it increases Lot Size to cover previous losses.

GPS Forex Robot monthly gain

The average monthly profit in 2020 was around 1%. That’s not so much comparing to risks.

GPS Forex Robot Trading results

There are other accounts of him, including the $1M account.

How much does it cost?

GPS Forex Robot cost

The robot costs $149 and is delivered with a 60-day money-back guarantee. The package includes the EA, user manual, installation file, EAs file for direct copying, access to the member area. 

Reviews from customers

GPS Forex Robot Reviews from customers

Many people recommend this site.

GPS Forex Robot Reviews from customers

The wall includes only positive comments.

GPS Forex Robot Reviews from customers

The EA has its own page on FPA with a 3.688 rate based on 93 reviews.

GPS Forex Robot Reviews from customers

Here, we have a person who didn’t read the user manual on how to install the EA on MT4. 

GPS Forex Robot Reviews from customers

There are positive comments like this when people dream about getting the first million.

GPS Forex Robot Reviews from customers

It’s the person who decided to trade immediately on the market.

GPS Forex Robot Reviews from customers

Some people experienced problems with their refund policy.

GPS Forex Robot Reviews from customers

This is another trader who didn’t try the EA on a demo account before going live.

Should You Use The GPS Forex Robot?

ProsCons
The team was revealedNo strategy explanations provided
Backtests providedNo trading results for no EUR/USD symbol
Real account trading resultsNo settings explanations provided
Good Profit FactorLow Trading Frequency
Cheap pricingMixed comments are on FPA
A 60-day money-back guarantee

Conclusion

It’s hard to tell if it’s good or not. The main reason is that according to trading results, the EA can trade a single trade in one-two weeks. If you run a $100k account, one little trade that often can be good for a $150 price, but if you’re an average person with $1000 – $10000 on the account, just ask a question how long it takes to cover the price and make some profits for you. With less than 1% of the monthly profit, it’ll take half a year just to cover purchase for a $1k account. Comments vary, depending on the traders’ experience. Negative ones noticed that only EUR/USD looks like a currency to trade.