GPS Forex Robot Review: Things to Consider Before Investing

GPS Forex Robot

GPS Forex Robot was introduced to the public several years ago. The system is said to be rock-solid and able to work through any market situation. The developer also confesses that the bot doesn’t apply risky strategies like martingale, grid, or no-stop loss trading that are known to empty accounts. The truth to these claims will be ascertained in this review.  

GPS Forex Robot is the creation of an individual called Mark Larsen. He developed this system with the help of two other programmers: Antony and Ronald. Larsen has also been writing Forex system reviews and producing Forex videos in the last 16 years. He has developed a Forex trading course called Secrets.bz as well.  

The highlights of GPS Forex Robot

Here are some features that, according to the developer, set GPS Forex Robot apart on Forex market:

Generates up to 30% of monthly income

Apparently, the robot is a very potent and an unwavering tool that can generate up to 30% of monthly profits. This is thanks to its trading style that is correct 98% of the time.

Executes trades fast

The vendor optimized the newest version of this bot, which enables it to work 4 times faster.

Trades safely

It is said that this latest version of the robot is two times safer and more profitable.

Customizable

Allows the trader to alter all the main parameters to fit their preferred style of trading.

Unfortunately, we cannot trust some of these claims. As you will realize later, the robot’s trading approach is far from being safe because it generates many losses that can cause your account to have a high drawdown. The profits made are also very low and nowhere near the 30% mark. 

Trading strategy of GPS Forex Robot

The vendor says that the system works like a GPS navigator in a vehicle. In essence, it tracks the short movement in the market to find profitable opportunities. A reverse strategy is also included. This approach focuses on opening trades in the opposite directions to cover small losses. 

Backtesting reports

Backtest results
Backtest results

The system underwent some testing between January 2006 and January 2021. A deposit of $10,000 was placed, and for a 15-year period, the bot only made 590 trades. Clearly, it didn’t trade frequently. The resultant net profit was $44,065.43. The success rates for short and long positions were 95.58% and 100% respectively. The relative drawdown was high – 42.62%.

Trading results in real time

Trading stats
Trading stats

The robot has been trading in the live market for a long time now, since May 21, 2012. A gain of 565.65% has been gotten out of a deposit of $100,000. So, the profit value is $565,649.34. However, the monthly profit, which is, 1.69% is very small. The drawdown (37.70%), on the other hand, is high, meaning a risky trading approach on board. 

Performance of trades
Performance of trades

We have 499 trades. The short positions have performed well as they have attained 100% win-rates. The long positions (93%) did not perform badly either. The profit factor is 2.01. We are concerned about the average loss of -70.23 pips, which is 14 times higher than the average win of 5 pips. The system is making bad trades at disturbing rates.  

Account’s risk of ruin
Account’s risk of ruin

The many bad trades have weakened the account, and 35 consecutive losses, which are highly probable, will be enough to wipe it out completely.

Monthly profits for 2021
Monthly profits for 2021

Despite the huge investment, the bot has not been generating substantial returns. From January to date, the system couldn’t manage to make even 1% in profits.

GPS Forex Robot price

GPS Forex Robot’s price
GPS Forex Robot’s price

GPS Forex Robot is currently retailing at $149. In addition to getting a real account license, you will get webinar recordings, free video tutorials, a 60-day money-back guarantee, and full support at this price. 

Customer support

You can get in touch with the developer through his number, which is available on the presentation. 

Are traders happy with GPS Forex Robot?

GPS Forex Robot has received mixed reviews from customers on FPA. Currently, its rating is 3.2 out of a possible 5. We looked at some of the negative feedback, and we were perturbed by what we found out. Some clients admit that the system doesn’t work properly and it blew up their accounts. 

Feedback from clients
Feedback from clients

GPS Forex Robot

GPS Forex Robot
3 5 0 1
By the looks of it, GPS Forex is not the solution for traders who want to make quick profits in Forex within a short time period. The system doesn’t trade much, and when it does, it generates minor gains. Furthermore, it is associated with high-risk trading, a habit that can threaten the existence of your account. So, we advise you to be extra careful with this product.
By the looks of it, GPS Forex is not the solution for traders who want to make quick profits in Forex within a short time period. The system doesn’t trade much, and when it does, it generates minor gains. Furthermore, it is associated with high-risk trading, a habit that can threaten the existence of your account. So, we advise you to be extra careful with this product.
3/5
Total Score
  • Profitability
    3/5 Neutral
  • Strategy
    3/5 Neutral
  • Reliability
    2/5 Bad
  • Price
    4/5 Good
  • Client testimonials
    2/5 Bad

Advantages

  • Fully automated
  • A 60-money-back guarantee is present
  • Live trading results and backtest report are availed

Disadvantages

  • Low return rate
  • High risk of ruin
  • Negative customer reviews
Total
0
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