Killa Gorilla FX Master is a high-frequency trading system that uses price action for its trading. The automated system claims to use the Grid and Martingale approaches in addition to several other characteristics that ensure minimal risk and high returns. This FX EA is free if you use it on a trading account opened using a broker endorsed by the vendor.
Killa Gorilla FX Master: to trust or not to trust?
With plenty of expert advisors in the market, it is difficult to identify effective and reliable systems. We have analyzed the various aspects of this FX robot that include its features, performance, support, and more. Our initial evaluation reveals that this is not a trusted EA. Some of the key reasons for our initial conclusion include the lack of verified trading results and backtests. Let us first look at the main features of this ATS before we go into the main factors that prevent this system from being a safe and reliable MT4 tool.
Features
Developed by James Cross this MT4 trading tool is a basket trading system that trades frequently. As per the vendor info, this FX EA is very profitable and can give profits ranging from $50 up to $20,000 per day based on the starting balance and settings. Built-in characteristics include SL, protection for trends and spikes, News filters, and various other safety methods that reduce the drawdown and increase the profits.
The vendor adds that this EA can work on all major currency pairs but the main pair it focuses on is the EURUSD, which is known for its high liquidity and low spreads. You can download this EA for free but you need to use one of the endorsed brokers of the vendor to start your account. The dev points out that suggested brokers do not have high spreads and they exhibit an acceptable trading environment.
The minimum account balance that the vendor recommends to start with ranges from $5000 up to $10,000. The AUDUSD pair is another recommended pair but the vendor suggests that the EURUSD is better as it has lower spreads. The vendor also mentions that this EA is not effective in trending markets hence it should be used during the opening sessions of the US and Asian markets.
After a thorough evaluation of the EA, we have identified the following significant drawbacks that made us decide this is not a trustworthy FX robot. The downsides include:
No verified trading performance
Even though the vendor mentions that the EA has been in the market since 2015, there are no verified trading results for the FX robot. The vendor does provide an account with an opening balance of $50,000 verified by the myfxbook site. But the link to the site appears to be broken, so we are unable to know the details of the results and its authenticity. Here is a screenshot of the performance proof provided on the site.
Lack of vendor transparency
While James Cross claims to be part of the development team for this EA, we could not find any other details related to the developer or the team behind the system. There is no location and phone number info. A live chat feature and online contact form are the two support options provided by the users of this EA. Further, there is no proper explanation of the trading approach used. The lack of transparency on the part of the developer raises a red flag. We suspect this is not a reliable EA.
Negative user reviews
We found 5 reviews from users of this Gold EA on the Forexpeacearmy site. Here is a screenshot of the feedback:
From the reviews, we can see that support is not effective and there is no response to user queries and complaints. More than one user indicates a bad support service. Another user states that the system has resulted in wiping out his entire account. As we suspected, the reviews confirm that this is not a reliable system.