Expert AdvisorsForex

Galileo FX Review: Things You Need to Know Before Investing

2 Mins read
2.7

Galileo FX is the system that manages orders on the real market. The presentation includes details and features about the system and its possible ways to trade on the market. 

Galileo FX trading strategy

  • The presentation doesn’t reveal details about the strategy.
  • We can work with Silver according to trading results.
  • The time frame wasn’t mentioned.

Galileo FX backtesting report

Galileo FX backtest report on mYfxbok
Galileo FX backtest report on mYfxbok

The system was tested on the seven-day data in 2021. Using insane risk, the system could manage to generate 33.75% of the profits. The maximum drawdown was 7.09%.

Past trading results of Galileo FX
Past trading results of Galileo FX

There were 157 deals executed with 3530 pips gained. An average win was 28.83 pips when an average loss was -42.36 pips. The win rate for longs was 97% and for shorts 84%. It had a solid profit factor of 6.55.

Galileo FX live results

Galileo FX trading results on Myfxbook
Galileo FX trading results on Myfxbook

The developers removed their real account, but we could manage to take screenshots before this happened. Galileo executed orders on a real IC Markets account with 1:500 leverage. The platform was cTrader. The account had a verified track record and verified trading privileges. It was created on October 04, 2020, deposited at $2,186, and withdrawn at $1,987. The total gain has amounted 824.74%. An average monthly gain was good–24.29%. The maximum drawdown was 21.57%.

Galileo FX trading details
Galileo FX trading details

The system performed 1636 orders and generated 15,124 pips. An average win was 12.57 pips when an average loss was -8.88 pips. An expected win rate lied between 80% for shots and 87% for longs. An average trade length was 14 hours and 46 minutes. The profit factor was 4.44. 

Galileo FX trading pairs
Galileo FX trading pairs

The advisor was focused on managing orders on XAGUSD (1629 deals).

Galileo FX risks
Galileo FX risks

It worked with acceptable risks to the balance.

Galileo FX closed orders
Galileo FX closed orders

The developers decided to hide the column with lot sizes.

Galileo FX monthly activities
Galileo FX monthly activities

The system provided various profits over half a year ago. It looks odd that the trading account was stopped and removed from Myfxbook.

Some features of Galileo FX

There are various features explained in the presentation provided in the following list.

  • We can work with the system on the market automatically.
  • It’s possible to work with any broker house.
  • We should work with $1000 on the balance to start smoothly.
  • The system can be used quickly after downloading,
  • The developers provide 24/7 support.
  • It will receive updates and upgrades.
  • The system works completely legally.
  • It will protect our orders with relevant stop loss levels.
  • There are features such as Jumping Stops, Break Evens, and others.
  • The system is already well-customized.
  • We can work on Micro, Mini, And Standard account types.
  • It has to be tried on a demo account before using it on a real market.
  • We are allowed to customize risks.
Total return823.74%
Maximal drawdown21.57%
Average monthly gain24.29%
DeveloperN/A
Created, year2020
Price$199, $499, and $899
TypeN/A
TimeframeN/A
Lot sizeN/A
Leverage1:500
Min.depositN/A
Recommended depositN/A
Recommended brokersN/A
Currency pairsXAGUSD
ECNYes

Main things to consider if you invest with Galileo FX

Automatic trading 

The advisor will trade for us on our account. We may check its performance to be sure that everything is alright.

Past trading results available

Galileo FX had a real account where the system performed profitably, but something happened and the account was removed.

Official Galileo FX website

The presentation includes information about how the system works. Alas, it lacks of proof of the current trading activities and profitability.

Pricing details

Galileo FX pricing
Galileo FX pricing

The pricing allows us to subscribe for $199.95. We are limited to $1000 profit monthly. The next price is $499.95. The limit is $5000 profits monthly. A pack without restrictions costs $899.95. The offer is absolutely overpriced.

Other notes

Galileo FX Trustpilot page
Galileo FX Trustpilot page

We have various testimonials published on the Trustpilot page. There are 2205 reviews published with a 4.8 rate.

Galileo FX testimonials
Galileo FX testimonials
Galileo FX testimonials
Galileo FX testimonials

There are plenty of negative testimonials published where people weren’t satisfied with the quality of signals. 

Galileo FX Summary

2.7
Galileo FX is a trading solution that worked on the real account that was stopped several months ago. The offer looks overpriced compared with the similar solutions on the MQL5 forum or Forex Store. There are various negative testimonials published.
3.0

Functionality

4.0

Reliability

3.0

Strategy

1.0

Price

3.0

Trading Results

2.0

Vendor Transparency

Pros

  • +Trading results available

Cons

  • -No team revealed
  • -No risk advice given
  • -No backtest reports provided
  • -No actual trading results
  • -Many negative testimonials written
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