Forex Auto Millions is a trading advisor that has received some updates in 2021. It got tests based on 21-year tick data. The presentation looks incredibly simple. We don’t know if the system is a viable option.
Forex Auto Millions: to trust or not to trust?
It is difficult to trust this system. The reason is that the robot provides little profits but trades with huge drawdowns. It may not satisfy the trading expectations of conservative traders.
The presentation can provide us with the following explanations about how the system works.
- The system can work automatically for us. So, we may do whatever we want.
- It can execute orders on the MT4 terminal.
- The advisor is free from Martingale, Grid, and Hedge.
- The system can work with EURUSD as the main cross pair.
- The time frame is M5.
- Backtests were performed with tick data, variable spreads, commission and 99% of the modeling quality.
- So, they can’t guarantee future performances.
- We have to accept the risks of the real market.
- There’s a money-back guarantee provided.
- It’s provided without questions asked.
- There’s a user manual.
- We may start trading without previous trading experience.
- There’s a three step way to start working with it.
We can purchase a lifetime (?) copy for $99. There are no explanations provided about the pack and its details. So, it looks like we are going to purchase a cat in the bag.
Verified trading results
The system was tested on the M5 time frame on EURUSD. The data period was 18 years long. The modeling quality was 99.90% with variable spreads. The maximum drawdown was 5.04% only. The system has 7382 with a 100% win rate for short without a long direction traded.
The robot works only on a demo account on FXOpen without any leverage on MT4. The account has a verified track record. It was created on April 08, 2021. Since then, the absolute gain has become 61.72%. An average monthly gain is 5.90%. The maximum drawdown is 39.73%. It’s a huge number.
The robot closed 591 deals with 2161.3 pips. An average win is 5 pips when an average loss is 15 times deeper, -74.12 pips. It looks like another GPS Robot with 90 pips stop losses. The win rate for shorts is 98%. An average trade length is 10 hours 8 minutes. The profit factor is good – 2.63.
The system traded only EURUSD on the short direction only.
The system trades all the day focusing on proper hours.
It’s rare to see that Wednesday traded that few – 61 orders.
The advisor works with high risks. It needs to lose 4 orders to lose 10% of the account.
We have no closed orders shown. Most likely because there’s Aggressive Martingale on the board.
The system couldn’t close all months in a profit.
The robot had significant and long-term periods of drawdowns.
We can easily find many positive testimonials on the site. Unfortunately, we can’t check if they are real.
The company has an empty page on Forex Peace Army. There’s a single review written and no trading accounts connected.
This review looks fake. It was written three years ago by a faceless account.