Mr. Martin is a Forex robot that requires a minimum deposit of $1000 for trading. But you will have to acquire its license first at a costly price of $360. The EA comes with some default settings, but the vendor asks you to contact him in case you want some conservative and aggressive settings. We are assured that the robot can trade over a long time period. 

Mr. Martin is the work of a Russian-based developer, Vasiliy Kolesov. He has also authored several other trading tools, including CloseProfit, MartinManual, PanelManual, and EA Monolith, and others. Sadly, his profile doesn’t say anything about his experience, qualifications, or achievements in trading. 

Mr. Martin: characteristics

The features of the robot are listed here:

  • It runs on both the MT4 and MT5 terminals
  • Opens and closes trade on a “closed bar,” which enables it to work with any broker and any spread
  • Mainly created to work on hedge accounts
  • It cannot work correctly on “netting” accounts

Currency pairs, strategy & timeframe

Mr. Martin’s default settings are optimized to support the EURUSD currency pair and to work on the M1 timeframe. 

The expert advisor is claimed to utilize the principles of averaging unprofitable positions. Unfortunately, the developer stops at that. He doesn’t explain in detail what this strategy really entails. We are informed that several filters, a unique input system, and a deposit protection system are incorporated to protect your deposit. 

Mr. Martin trading performance

There’s a backtest report for the EA, proving that the dev tested the efficiency of the trading strategy described above. 

Backtest results.

This is a 4-year backtest report for the EURUSD currency pair. The test was done on the M15 timeframe using historical data from January 2014 to October 2018. During this trading period, the EA reported a profit factor of 2.75, a sign that it produced significant returns. 

A total of 689 trades were completed using a deposit of $750. As a result, 74.43% of the orders were won. Each successful order must have earned very small profits, given that cumulatively, the total net profit was $5919.49. From our estimations, the robot made about $1400 per annum, an amount which is undoubtedly low. The drawdown rate of 11.27% was good as it meant that the trading activities were safe. 

Live trading data.

We can see that this demo account was activated in February 2019, and to date, the gains made amount to 424.65%. Mr. Martin began trading using a $10,028.51 deposit and has made a profit of $42,492.52. Clearly, these outcomes project the EA as a very lucrative tool. 

The average monthly gain is 4.93%, whereas the drawdown rate is 26.26%. So, the risk/reward ratio is about 5:1. This is bad. It indicates that more risks are involved in trading, and lesser returns are obtained as a result. 

Performance of trades.

A total of 512 trades have been completed already, and the resulting win rates are not good. Out of the 156 buy orders placed, only 102 have been won. The accuracy rate for short positions is 75%. On average, the EA holds trades for a day, and so far, the profit factor is 2.50. We have more losses than wins. This is demonstrated by the average loss (-35.85 pips), which is higher than the average win (21.23 pips) by 14 pips. 

Trading summary.

The short positions were more successful than the long ones. 

Monthly returns.

The EA has been profitable throughout the year. November was the most lucrative month so far, with 8.54% profits. 

Weekly trades.

Wednesday is the most active day, followed by Tuesday. The robot’s trading activities reduce drastically on Friday.  

How much does it cost?

To get a lifetime license for this EA, you will have to part with $360. The package does not come with any refund policy. So, you cannot ask for your money back in case the robot fails to meet your expectations. 

Mr. Martin’s price.

Reviews from customers

Most of the reviews for this robot are positive. The traders acknowledge that the EA is indeed bringing them profits monthly. There’s one customer who asserts that Mr. Martin is useless and outdated. However, he doesn’t disclose the reason behind this conclusion. 

Customer testimonial on MQL5.
Customer review on MQL5.
User reviews.

Should you use Mr. Martin?

ProsCons
Long trading historyVendor transparency is insufficient
Backtest results are availablePricey
Poor risk/reward ratio
Vague strategy explanation

Conclusion

Mr. Martin has been trading in the live market for quite a long time and generating profits for the account all this while. Some customers have also revealed that it can earn income in real market conditions. But you should be aware that the vendor’s qualifications and trading experience are unknown. Another thing is that the robot risks a lot to only receive lower rewards in return. This might likely cause your account to end up with more losses than profits.