Gold M stops Review

Gold M stops is an FX robot for the MT5 platform. It is a completely automated software that works on multiple currency pairs. This ATS uses the breakthrough price and market time-based method for its strategy. As per the developer, this trading tool is appropriate for newbie and seasoned traders. Protection from high spreads and automated lot selection are some of the features of this FX EA.

Is this a reliable FX trading tool to use now? 

Noorullah Aimaq is the developer of this FX robot. The developer is based in Afghanistan and is the CEO of Topco Finance. As per the MQL5 site info, the developer has no experience in the industry but has created 13 products and 3 signals. We could not find company details, location address, or phone number for contact. We find the absence of vendor info suspicious and it indicates an unreliable product. 

XAUUSD, USDCAD, AUDCAD, AUDUSD, GBPUSD, and EURUSD are the currency pairs this FX EA works on. A loss recovery system and spread protection are part of the features of this FX EA. As per the developer, this EA is resistant to unexpected market events. The developer claims that the system can be optimized to work on other currency pairs. For the strategy, the developer states that this FX EA uses breakthrough price levels and Market time for identifying every entry point. An advanced filter is present for the input of data and works based on the price movement analysis. We find the strategy explanation is inadequate and does not provide a proper insight into the effectiveness of the strategy and performance.

How to start trading with Gold M Stops

This FX EA is sold for $600. For those who find the product is overpriced, the developer offers rental options that include a one-month rental of $75, three months rental costing $180, 6 months rental that costs $320, and an annual rental for $450. A free demo is present. We could not find a money-back guarantee which makes this an unreliable product. Further, comparing the cost of this FX EA with other products of similar type, we find the price of this FX EA is exorbitant and not worth it.

Recommendations for using this ATS include a hedging account, a minimum balance of $200, or the use of the cent account. The time frame used is M5. A raw spread account and low latency VPS are other recommendations by the developer. This EA has a default setting for the XAUUSD pair. 

Gold M Stops backtests

No backtests are present for this FX EA. Even if the strategy tester reports are based on historical data, the tests help to provide a better perspective of the approach used and its efficacy. The absence of backtests in addition to the vague strategy explanation raises a red flag for this FX robot.

Trading results

The developer provides a demo signal for this FX EA on the MQL5 site. As per the trading stats, the account started on September 23, 2021, and has completed 44 trading days. For an initial deposit of $1000, the account has generated a profit of $19,385.87 and reveals a growth of 4.96%. The maximum drawdown for the account is 38.5% and profitability is 82.4%. While the profitability is high, the high drawdown indicates a risky approach that can put your capital at risk. Further, the sample size is small so the consistency of the profits cannot be guaranteed. 

Customer support

The private messaging option on the MQL5 site is the only contact method the vendor provides. We find the support is inadequate. For users who require an immediate response to their queries and concerns, the lack of support methods like phone contact or live chat is disappointing.

People feedback

We could not find user reviews for this FX EA on reputed sites like Forexpeacearmy, Trustpilot, etc. The absence of feedback indicates this is not a well-known product in the market. 

Summary 

Advantages

• Fully automated software
• Use of SL and Trailing SL for each trade

Disadvantages

• Vague strategy explanation
• High drawdown in demo results
• No money-back guarantee

Gold M Stops claims to perform well in all market conditions. Our evaluation of the features, strategy, and other aspects, reveals the system is unreliable. The vague explanation of the approach, the high drawdown in trading results, and the expensive package are major downsides we have identified in this FX EA. Further, the lack of user reviews, inadequate support, and absence of backtests confirm our suspicions that this is not a reliable FX robot.