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Home Forex Tools Forex Robots

GPS Forex Robot 3 Review

by Richard Brase
March 24, 2020
in Forex Robots
1
GPS Forex Robot 3
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Table of Contents

  • How good GPS Forex Robot 3 is?
  • Robot’s features and backtests
  • Real account trading results
  • The offer
  • Summing up

How good GPS Forex Robot 3 is?

GPS Forex Robot 3

The robot’s presentation starts from a video and photo of a developer. The robot introduced an EA that can make up to 30% of the monthly gain. The robot as many others opens trades in both directions. Wrong-way trading ended asap with a stop-loss, correct direction closed after hitting the take-profit level. “The robot does not involve any tricks like martingale, grid or no-stop-loss trading.” One of the investors, as devs said, invested $1M in trading via GPS Forex Robot 3. 

GPS Forex Robot 3 Myfxbook

Robot’s features and backtests

  • The robot works four times faster than the previous version
  • EA is twice (?) as safe and much more profitable
  • The latest version allows changing any parameters of trading
  • Trailing take-profit feature
  • Simple installation
GPS Forex Robot 3 strategies tester report

We’ve got the EUR/USD backtest on the 1H time frame. The initial deposit has been $10K, the total net profit became $101K. There have been performed 995 trades with the short position win-rate 100% and longs one 87%.

The main page also includes several hundreds of comments like these

GPS Forex Robot 3 comments

During a presentation, we’re pushed harder to buy it asap. 

Real account trading results

The devs provided about 5 real 3rd part verified accounts.

GPS Forex Robot 3 Myfxbook

The account has been funded for $100K, it’s the second devs account by the amount we’ve ever seen. The first place belongs to ROFX with $10M. 

So, the account has been launched in May 2012, During the period, the balance has grown in 5.2 times. The average monthly gain is 1.94% (not up 30% like the robot has been introduced in the presentation). The max drawdown is high and equals 31%. This account is a real USD one. The robot trades through FX Choice, with the mid-level 1:200 leverage, on the MetaTrader 4 platform.

GPS Forex Robot 3 advanced statistics

The account has the best win-rate on across the EAs (93% / 100%). During that long period, the robot has been traded just 465 trades with 406 pips. The average win is 8 times less than the average loss. This may warn traders so much. With 1:200 leverage it can easily blow the account. The profit factor is 2.14.

GPS Forex Robot 3 advanced statistics

The robot works with only one currency pair: EUR/USD. 

GPS Forex Robot 3 statistics

It trades only during scalping hours and it looks like it’s so close to WallStreet EA with the same patterns. 

GPS Forex Robot 3 statistics

EA prefers to trade Tue/Thu days.

GPS Forex Robot 3 statistics

The risk of the ruin is quite high and we have to lose 4 trades in a row in order to lose 10% of the account, but the robot runs with extremely high win-rate (93%) that compensate that risk level. 

GPS Forex Robot 3 monthly gain

GPS Forex Robot 3 started trading with extremely high risks to double the account asap. 

GPS Forex Robot 3 monthly gain

Now it trades smooth and sound. The last month with losing has been May 2014. It’s 6 years of profit with no risks.

The offer

GPS Forex Robot 3 offer

The robot costs $150. Probably, we’ll have a real account license. The devs provided a 60-day money-back guarantee. We don’t know about free updated and support, as well as, about the number of demo accounts. 

Summing up

Pros

  • Real persons behind the robot design
  • Backtests provided
  • Real account trading results
  • High deposits on the accounts
  • Extremely high win-rate
  • FX Choice proved trading results
  • Cheap price
  • People feedback
  • 60-day money-back guarantee

Cons

  • Little monthly gain with high-risk trading
  • An extremely low frequency of open trades
  • Just one currency pair to work with
  • Cheap price
  • Trades only during scalping hours two days in a week

If we sum everything up we can’t understand the reason to sell GPS Forex Robot 3 for $150. Any EA that works like this costs not less $350, but usually, the price is about $550-750. At the same time, this price is nothing in cost to try the robot, especially with the 60-day money-back guarantee. Why not? If the robot, taking into account the frequency of trading, will show not the profit you’ve seen, you can bring it back.

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Comments 1

  1. david says:
    3 weeks ago

    Hello traders,

    For me, reverse trade after losses is not working and reversal trade option is set to TRUE…
    Same for back test, not working, on my MT4 config, works for any other EA but not for GPS, get this message -> Currently backtests are not available, LOL.
    When I took a look on forum like forexpeacearmy and other, I’m not the only one…

    I tried to contact GPS support, but only got kind of automatic useless copy/past mail after one month…

    GPS work very well until the day…
    It just need one day, one trade and you’re TOASTED.

    GPS -> Useless…

    Reply

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