GPS Forex Robot 3 is a foreign exchange trading robot that doesn’t require much technical knowledge to use. It is claimed to perform up to 4 times faster than other EAs. It is a very profitable system for those who have the time to invest in it.
Users need to pay attention to market charts and volatility especially. They need to be aware that this software program can blow a large account completely.
Pros
The vendor claims that the software was created after careful optimization and that this has led to it performing 4 times faster than other forex robots. The software automatically senses the current market condition and finds the best settings based on this. It also uses a trailing take profit whenever applicable, which is claimed to make it twice as safe compared to other trading robots. The software is easy to use and doesn’t require any coding or super technical knowledge to set up and trade with it. It runs on the free MetaTrader platform and comes with a detailed instruction manual for fast and simple setup. It also provides support and updates for life.
Another plus point is that the GPS forex robot is affordable, with a one-time fee for the program and no ongoing fees. It’s also said to guarantee high profits without the need for a large account balance or risky strategies like Martingale.
However, some users have complained that the program does not trade as frequently as they would prefer. This is especially true if they are using a small account size. Additionally, market volatility can cause the robot to lose money and double its exposure amount on losing trades. This is a major risk that can quickly deplete an account and requires close monitoring of the market.
Some users have also reported that the GPS forex robot does not trade well with certain currency pairs. This is likely because the software uses a Martingale strategy to recover losses, and it can be hard to predict what is going to happen in the market. This is a significant risk for traders, and it is important to be aware of it before deciding to invest in this system.
Some of the other complaints that have been noted about forex robot are the customer service response times, which can be slow at times. This is a concern, as some users expect quicker responses if they are investing in a product that can significantly affect their financials. Overall, the gps forex robot seems to be a legitimate trading system that is suitable for beginners and experienced traders alike.
Cons
If you are a beginner and looking for a system that will automatically trade on your behalf, GPS Forex Robot is an option worth considering. It is an automated trading system that scans the forex market for potential trades and executes them based on pre-determined rules. It is compatible with MT4, which is a popular trading platform among forex traders, and offers a members zone where users can ask questions and take part in forum discussions. It is also easy to set up and doesn’t require a lot of background knowledge.
However, GPS Forex Robot is not without its disadvantages. It has a tendency to make large reversal trades, which can lead to losses if they are not managed correctly. In addition, it doesn’t trade frequently and may not be able to make a profit during volatile times. It is recommended to use caution and test this EA on a demo account before using it with a real money trading account.
Another concern is the fact that this robot is not transparent about who created it, despite being advertised as having been developed by a seasoned professional. This is a common issue with Forex robots, and many traders prefer to choose one that has been created by a known expert in the field.
While GPS Forex Robot has a long history of generating profit for its customers, it is important to research the system and the company before making a decision to purchase. In addition, it is crucial to make sure that the robot is being used properly and that it is paired with a reputable broker. In addition, it is always a good idea to learn as much as possible about the system by trialling it on a demo account and asking any questions that arise before using it with a live trading account. This will ensure that the robot is safe to use and will not cause any significant losses. This is especially true for new traders who may not be familiar with how to optimize the robot’s settings. This will minimize losses and maximize profits.
Bottom Line
Gps Forex Robot is an EA that can trade automatically. It has been used to earn a consistent income for users, and is suitable for both beginners and advanced traders. It uses unique algorithms to make trading decisions, and has a high probability of success. The product also has a member’s zone and forum, where users can ask questions and discuss the robot’s performance. However, customer service can sometimes be slow. It is recommended that you test the EA on a demo account before using it with real money.
GPS Forex Robot 3 is compatible with MT4, the most popular trading platform for FX. It comes with four files that allow it to trade different currency pairs. It also has an auto analysis feature that allows it to identify the best time to trade. It can also set up a trailing stop and reverse trade settings. In order to minimize losses, it is important to use these safe settings.
Its claim to profitability is backed up by verified trade results, which are available on the developers’ website. These trades show consistent profit development and winning percentage rates. It is recommended that you carefully choose your settings and opt for the lowest drawdown and highest profitability, as well as pay close attention to market volatility forecasts. This will ensure realistic, sustainable profits.
While the exact algorithms that this robot uses are a closely guarded secret, it has been shown to have a good track record in actual trading tests. It is also easy to use, and offers a low risk of loss. The software is capable of generating effortless profits, even under volatile conditions. This is because the robot uses a Martingale-type strategy to recover from losses, which can lead to large profits. However, it is also possible to blow a large account with this EA, so users should carefully consider their own trading style and risk tolerance before using it. It is also important to research and test the robot on a demo account before committing any capital to it. This will give you a chance to see how it performs and tweak the settings according to your needs.
Final Words
Despite mixed user reviews, GPS Forex Robot 3 has an impressive track record of creating profit for its customers. The creators of the EA even offer a money-back guarantee for consumers who are not satisfied with their product. This shows the seriousness of the company and the confidence they have in their system.
The website also offers a members zone, which provides support and guidance to users who are having trouble with the program. This is a great feature for beginners who are new to forex trading. The member’s zone also contains a detailed PDF user guide that provides step-by-step instructions on using the robot.
A big part of the GPS Forex Robot 3 is its ability to predict future market movements based on various indicators. This allows it to generate profits with a 98% accuracy rate. In the other 2% of cases where a trade is losing, the robot will automatically enter a reverse trade to cover the loss, which helps to preserve the profits.
However, many users have highlighted that this robot uses a Martingale strategy. Although the developers of this robot deny that, the software does use a Cease and Reverse technique that is similar to the Martingale method. This is why it can recover from large losses but will also lead to more losses if the trade isn’t halted in time.
Another concern with GPS Forex Robot 3 is that it can sometimes make a lot of trades during volatile times. This can lead to a lot of volatility and large losses on smaller accounts. It is important to understand the risks involved with this type of EA before committing to it.
Overall, GPS Forex Robot 3 is a good EA for traders with a small account size. It has the ability to create large profits when the markets are smooth, and it is easy to use. The site also provides proof of its effectiveness by showing various verified Myfxbook and MT4 strategy tester results. It would be helpful if the site included back tests with 99% modelling quality, however.