Expert AdvisorsForex

GPS Forex Robot Review: Things You Need to Know Before Investing

3 Mins read
7.3

GPS Forex is a trading solution that was published in 2012. It’s probably the longest living trading solution that is sold freely on the whole web. 

GPS Forex Robot claims
GPS Forex Robot claims

Mark Larsen is the person standing behind this EA. He has a video about how everything works on the sales page. Let’s analyze what we have.

GPS Forex Robot trading strategy

  • It works using a price action strategy focusing on trading when the market calms and isn’t affected by high-volume trading. 
  • It uses a Martingale strategy to recover. 
  • We can trade on the H1 time frame. 
  • It works with EUR/GBP, EUR/USD, GBP/USD, and USD/CHF symbols. EURUSD is the only frequently traded symbol. 

GPS Forex Robot backtesting report

GPS Forex Robot backtest report
GPS Forex Robot backtest report

The system was tested on the EURUSD pair on H1. The data period was from 2007 to 2020. The modeling quality was 90%. An initial deposit was $10,000. The total net profit has amounted to $100,951. The maximum drawdown was 5.68%, when the profit factor was 2.84. The system has executed 995 orders with a win rate of 100% for short and 87.51% for long trading positions. 

GPS Forex Robot live results

GPS Forex Robot’s trading results
GPS Forex Robot’s trading results

It’s nice of the developers to provide us with trading results from the account that worked for years. The robot ran a real account on the FX Choice broker with short leverage of 1:200 on MT4. The account had a verified track record. It was created on May 21, 2012, and deposited at $100,000. Since then, the absolute gain has become +566.97%. An average monthly gain was 1.68%. The maximum drawdown was 37.70%.

Trading statistics
Trading statistics

The system executed 500 deals with 317.5 pips. An average win was 5.00 pips when an average loss was -70.23 pips. The win rate was 93% for longs and 100% for shorts. An average trade length was 5 hours 59 minutes. 

Trading risks
Trading risks

The system worked with medium risks to the account balance. 

Closed orders
Closed orders

We may note that the system tried to recover using Martingale. 

GPS Forex Robot monthly profits
GPS Forex Robot monthly profits

The advisor traded profitably. However, there was no trading activity since September 23, 2021. Why? What is the reason? It looks odd.

Some features of GPS Forex Robot

We have some features and other intel explained. 

  • The advisor knows how to trade for us automatically on a terminal. 
  • It works on the MT4 platform. 
GPS Forex Robot’s intel
GPS Forex Robot’s intel
  • We can note that the developers visited various events. 
  • There’s an investor password to get trading results. 
GPS Forex Robot’s features
GPS Forex Robot’s features
  • The last version executes orders faster. 
  • There are parameters that we can change. 
  • It calculates Entry Points for us. 
  • There’s a Trailing Take Profit feature.
  • The installation process takes little time.
  • It should be used on an ECN account. 
  • We have to run it on a VPS service.
  • The system is featured by Trailing Stop Profit to save gained profits.
Total return566.97%
Maximal drawdown37.70%
Average monthly gain1.68%
DeveloperMark
Created, year2010-2012
Price$149
TypePrice Action robot
TimeframeH1
Lot sizeN/A
Leverage1:200-1:500
Min. depositN/A
Recommended depositN/A
Recommended brokersFX Choice
Currency pairsMostly EURUSD 
ECNYes

Main things that make GPS Forex Robot doubtful EA

  1. Deep drawdowns

It’s a con because the robot requires more margin to keep orders on the market.

  1. Executes most orders only on EURUSD

Adding some extra pairs to trade will diversify risks of losses on EURUSD.

  1. Martingale is a risky strategy

The robot consumes much more margin to recover. We can easily reach the Stop Out level.

  1. The advisor gains little profits

The system requires many win orders to close several losing deals.

Pricing details

GPS Forex Robot’s pricing details
GPS Forex Robot’s pricing details

The offer includes a single lifetime license for $149. We can expect to get a user manual, access to the member area, change a real account as many times as we want online, and a 60-day refund policy. 

Other notes

People testimonials
People testimonials

The site has some fake testimonials that tell us almost nothing about the system.

People testimonials
People testimonials

The company created a page on Forex Peace Army. The rate is 3.2 based on 110 reviews.

Customer testimonials
Customer testimonials
People reviews
People reviews

We have many negative testimonials. They are based on the next pros: the system requires a VPS service and ECN account, it makes 2-3 pips on average, a broker should be perfectly fine, and so on. 

GPS Forex Robot Summary

7.3
GPS Forex robot works with a price action strategy on a real account. The system is profitable so far, but an average trade brings approximately a 2-pip profit. The testimonials show that many clients couldn’t customize everything well. The GPS Forex robot hasn’t opened orders for almost two weeks. We don’t know the reasons for this delay.
6.0

Functionality

7.0

Reliability

7.0

Strategy

9.0

Price

7.0

Trading Results

8.0

Vendor Transparency

Pros

  • +Trading results provided
  • +The refunds provided
  • +Many testimonials published

Cons

  • -No risk advice given
  • -Short profitability
  • -The system requires many customizations to be done
  • -There are many negative testimonials
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