We’ve got a short presentation of FXAutoPips. They started the presentation with an explanation of the average spreads problems when you start using a scalper: “the fact, that they earn 2-4 pips from a trade, creates a lot of problems, in particular compatibility with brokers, and often the inability to achieve such results on live accounts.” FXAuto Pips is a nighttime trading robot, that earns about 14 pips for a trade.
- Not a scalper.
- Compatibility with any broker.
- The minimum deposit is, as low as, $26.
- The lot size is 0.01.
- USD/CAD symbol supported.
- No martingale trading.
- Compatibility with other EA at the same account.
Backtests
A single currency pair become just a single backtest. The robot tested at the 30M time frame. The initial deposit was $1000. The total net profit was $264K. The profit factor was high and equaled 2.75. The max drawdown was 25.7%. The average win-rate was between 71% and 78%.
The 3rd-party verified real account trading results
So, We’ve got a real USD account on FXOpen. The robot trades without leverage on the MetaTrader 4 platform. The monthly gain is 9.25%. The max drawdown os 50.07%. For an account with leverage over 1:200, it’s a death.
There have been traded 94 deals with 841.5 pips. Long positions win rate is 73%, short one is 63%. The profit factor is 1.82.
As you can see, there’s a problem with trading shorts.
The robot trades with extremely high risks. So, for the average risks, you can receive even 9% of the monthly gain.
The risk level has been increased several weeks ago.
The profit varies depending on the set risks.
The offer
FXAutoPips costs $255. We’ll receive a one-lifetime license, user manual, free updates, and support. The devs provided a 30-day money-back guarantee.
Summing up
Pros
- The low requirement to the minimum deposit
- The 3rd-party verified real account trading results provided
- Good profit
- Solid “profit factor”
Cons
- The huge max drawdown
- Little trades traded
- Shorts position ended with losses
- Trading with high risks
- Medium price
As we can see, the robot is ok. It can be profitable, but we’ve got a lot of “but”. The max drawdown is huge and hasn’t ended the account just because of no leverage. a lot of investors and traders wouldn’t like to use risks like that in order to get 9% of the monthly profit. At least, the devs charge not so big price and provide a 30-day money-back guarantee.
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