Are you considering investing in the GPS Forex Robot but unsure if it’s worth it?
In this review, we will take a closer look at the GPS Forex Robot to determine if it lives up to its claims and if it is a worthwhile investment for traders.
Maybe there’s something special about this robot, or it’s only doing well in its marketing department; this review will reveal the truth.
Let’s quickly find out using the table summary of its features below
|Refund?||60 Days Money Back Guarantee|
|Currency Pairs||Major Pairs Especially EUR/USD|
|Historical ROI||30% Monthly ROI|
|Website||GPS Robot Website|
Should You Buy The GPS Forex Robot?
Before I answer that question, I would do a quick breakdown of my findings of the GPS forex robot.
It’s encouraging that there is a refund policy where you can get your money back.
Also, there are live account proofs on the website, which I have checked and verified to be truly live accounts on my Myfxbook website.
Another thing to applaud about this Forex robot is that there is a real person behind it, surely not out there to scam you.
Still, the decision to either buy or not buy this expert advisor lies in your hands.
I found some problems with this robot that I will reveal below
- The drawdown is high compared to the monthly ROI
- The Live account proof shows a little above 2.5% monthly ROI against the 30% ROI Claim on the Website.
- The strategy behind this robot is ambiguous.
- The Pricing tells you what to expect.
GPS Forex Robot Review
Mark Larsen created the “GPS forex robot”, and the results are not bad. Over 300% ROI over a period of 10 years. Suppose you are okay with 2.5% ROI every month, then it is a good buy for a good price.
9 Years Results
Ambiguous Trading Strategy
GPS Forex Robot Has Over 30% Drawdown
This would not have been a problem if the GPS robot had delivered considerable profit every month.
But from the proof on the website and my personal experience with this robot, an over 30% Drawdown does not make sense for a robot that delivers a 2.5% ROI every month.
Analysis Of Live Account on Myfxbook
An important of any Forex robot review is the check on the live account proof.
Looking through the GPS Forex Robot Website, I found quite a number of live accounts to check.
At least, this shows that creators have tried the system on a real trading account.
The results were published on Myfxbook, and that makes sense.
But a further dig into the live account results revealed information that will determine the direction of this review.
The Claim Of 30% Monthly ROI is VAGUE
Yeah, if you have looked through the website, there is a bold claim of 30% ROI, whereas when you use the same robot on your account, you will reap little to no profits on your account.
At best, this robot makes a 2.5% ROI monthly.
You can also confirm the unprofitability of this robot by checking live accounts on the website. The highest ROI recorded is 3%.
This kind of situation then makes it tricky; looks like someone is making some empty claims.
Another important stuff I like to know before I use any Forex robot is the strategy and maybe the indicators and mathematics behind it.
Although most forex robot creators would hide this information and claim it’s intellectual property, it’s still a good idea to share some part of what to expect.
The strategy behind the GPS forex robot is ambiguous.
GPS Forex Robot Alternatives
Investing in the Forex market can be challenging, but with the right tools, the road to success becomes more navigable. If you are seeking alternatives to the GPS Forex Robot, two noteworthy options to consider are:
- Bollinger Bands EA: Utilizing the principles of Bollinger Bands, this Expert Advisor (EA) intelligently reads the market’s volatility, allowing you to take advantage of both tight and wide trading ranges. It’s perfect for those who prefer a more technical approach to market analysis.
- Smart Hedging EA: The Smart Hedging EA employs a strategy that helps you reduce risks and maximize profit by hedging your positions. It is meticulously designed to adapt to market trends, making it an excellent choice for those looking for a more cautious and strategic investment.
These alternatives offer unique and varied approaches to trading, ensuring that you can find a tool that aligns with your trading style and goals. Whether you prioritize technical analysis or risk management, Bollinger Bands EA and Smart Hedging EA stand as powerful options to explore.
Summary – GPS forex robot review
Here is a summary of my findings on the GPS Forex robot
- There’s a 60 Days Refund Policy
- I don’t know which strategy this Forex robot operates.
- This Forex Robot is not profitable.
- The drawdown is high for a robot with low profitability.
So, do you still want me to tell you whether to buy or not buy the GPS robot?