MyForexPath Review: Things to Consider Before Investing

MyForexPath

MyForexPath is a trading solution that can work on the real or demo account, providing automatic orders execution. In this MyForexPath review, we explained and analyzed all the impoartant points of this EA to help you make the right investment decision.

The highlights of MyForexPath

The developer highlines the following features of MyForexPath:

Automatic orders execution

You can expect that the system will open and close orders for you as a user. So, no interaction with it is needed on your end.

Money management system

The robot can manage lot sizes, SL, and TP levels placing.

Support

The robot customer support provides efficiently for the needs of clients and visitors.

The other details explained about the system are as follows: 

  • It works with a trend strategy that focuses on the high-volatile market moves.
  • It trades only in the trend direction.
  • There are indicators such as Moving Average and Parabolic involved. 
  • If our deals are going against the market, the robot closes them ASAP.
  • The system works with low drawdowns only.
  • It knows how to compensate for losses.
  • There are pairs allowed to trade: AUDUSD, EURUSD, and USDCAD. 
  • The advisor works on MT4 and MT5 terminals.
  • You can trade with a win rate of 65-70%.
  • It opens a session for every pair it trades.
  • There’s no broker restriction applied.
  • The advisor covers our orders with TP and SL levels.
  • It manages orders using a trend strategy.
  • We have no explanation of the time frame provided.

Backtesting reports

MyForexPath backtest report
MyForexPath backtest report

The developers tested the system on AUDUSD on H1. The data period was from 2015 to 2022. The modeling quality was 90.00%, with spreads of 30 pips. An initial deposit was set at $1000, which has turned into $9,355,224 of the total net profit. The profit factor was 1.93. MyForexPath works with an accuracy of 69.47% for shorts and 71.23% for longs.

Trading results in real time

MyForexPath trading results on Myfxbook
MyForexPath trading results on Myfxbook

The system managed orders on the real well-deposited account. The broker was chosen as FXOpen. It works with leverage of 1:500, and it receives data from MT4 indicators. The account was created on November 21, 2019, and deposited at $2000. The absolute growth has amounted to 1145.58%. An average monthly gain is 8.54%. The maximum drawdown is 49.30%. It’s twice as much as it should be. No one tracks the trading results.

MyForexPath statistics
MyForexPath statistics

The robot executed 678 deals and lost 2759.3 pips. So, this looks like there’s an aggressive Martingale applied. An average win is 33.16 pips, when an average loss is 72.45 pips. It works with the win rate from 57% for shorts to 69% for longs. An average trade length is three days. The profit factor is 1.50. This is not too close to the common level for paid advisors–1.6. 

MyForexPath directions
MyForexPath directions

It’s clear that the short positions are profitable only because of the martingale system enabled.

MyForexPath daily activities
MyForexPath daily activities

The robot prefers working during Asian and European trading hours.

MyForexPath weekly activities
MyForexPath weekly activities

The system opens more orders on Wednesday (169 deals).

MyForexPath risks
MyForexPath risks

The robot works with medium risks to the balance. There’s a 36.28% chance of losing 10% of the balance.

MyForexPath closed orders
MyForexPath closed orders

We may note that it’s possible to lose even four orders in a row.

MyForexPath monthly profits
MyForexPath monthly profits

The advisor has been showing stable profits for a significant period of time.

MyForexPath price

We can purchase a copy of the system for as low as $285. It’s a pretty acceptable offer. It’s featured by an unlimited license, a possibility to change account number online, both versions of the system, a user manual, free updates, and the best support 24/7. The developers cover us with a refund policy for 30 days.

Customer support

The robot team provide quality support, trying to answer questions within several hours.

Are traders happy with MyForexPath?

We don’t have testimonials to confirm this, but a profile on Forex Store has a 10/10 rate.

Alas, we don’t have testimonials from clients to be convinced that the system is good.

MyForexPath

MyForexPath
4 5 0 1
MyForexPath is a robot that works on the real market profitably. It uses Martingale to recover after losses. So, all of this pressures the available margin in a big way. To protect us the developers allows us to get a refund during the first 30 days.
MyForexPath is a robot that works on the real market profitably. It uses Martingale to recover after losses. So, all of this pressures the available margin in a big way. To protect us the developers allows us to get a refund during the first 30 days.
4/5
Total Score
  • Profitability
    4/5 Good
  • Strategy
    3/5 Neutral
  • Reliability
    4/5 Good
  • Price
    2/5 Bad
  • Customer Testimonials
    5/5 Amazing

Advantages

  • A backtest report provided
  • Trading results available
  • A refund policy provided

Disadvantages

  • No team revealed
  • No risk advice given
  • There’s a risky strategy (Martingale) on the board
  • No testimonials published
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