GPS Forex Robot 3 Review

How good GPS Forex Robot 3 is?

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. 

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

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

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.

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.

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.

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

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

EA prefers to trade Tue/Thu days.

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 started trading with extremely high risks to double the account asap. 

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

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.