Last updated on April 20th, 2022 at 11:06 am
This forex EA was running great for many years, and below I have a lengthy review about the success I had with it. However, after taking profits on my live account and closing that down, the demo account I was running got destroyed, so I no longer use or endorse this EA.
You can still see the investments I’m having success with here, but the GPS forex robot is no longer one of them.
Here’s a link to my demo account on myfxbook. You’ll notice that it had a very long and profitable run but just couldn’t sustain it forever:
My old review is below. I leave it here as a record of my journey, even though I have moved on from using this forex EA….
This is my full review of GPS Forex Robot 3.
My Results With GPS Forex Robot
My initial tests with this robot using the basic settings were profitable but also did open some losing trades and took my drawdown levels over 65%. As I researched the bot more and tweaked the settings, the bot became much more reliable, with more consistent profits and a very low drawdown. Getting the right settings is hugely important, but once you have them, the bot seems to run much more smoothly.
In this image, you’ll see some past performance of trading with the standard settings:
Once I found the perfect settings (which I’m happy to share with you) the results have been fantastic; Once I knew the trading was stable and profitable using these settings, I have traded with live accounts, and the results have mirrored those I am getting in the demo account.
These are the Myfxbook results from the very first demo account I set up to test this EA. Notice how stable my results have been since February 2020 when I got the settings just right.
The GPS Forex Robot will work with just about any broker. However, the developers suggest using the leverage of 1:200. Most brokers who offer this much leverage are unregulated and can be hard to find (especially for those living in the USA). Here is a list of brokers that will offer 1:200 leverage (and the countries they will accept):
- LQDFX – Unregulated but accepts customers from the USA
- FXPrimus – Leverage up to 1:1000 but does not accept customers from USA
- Roboforex – Up to 1:2000 leverage (does not accept the USA)
- FXChoice – Leverage up to 1:200
Frequently Asked Questions About GPS Forex Robot
How Much Does GPS Forex Robot Cost?
This trading robot costs just $149 (USD) for a LIFETIME license. This includes any future updates, and there is absolutely no rebilling or subscription. You can use it on unlimited demo accounts and 1 live account for this price.
What Is the Minimum Investment Amount?
There is no minimum investment amount for your new GPS Forex Robot, but your broker might have a minimum deposit amount for the MT4 account that it’s connected to. You can certainly start trading with as little as $100 in your trading account if your broker accepts that amount.
I’ve Purchased And Set Up the Robot, But I’m Not Getting Any Trades. Why Not?
The GPS bot does not trade every day. Sometimes a few days can go by without a trade (and it doesn’t trade at weekends because markets are closed). However, you should make sure that you have a smiling face on the top right-hand side of your MT4 screen, and don’t forget to add your live MT4 account number into the member’s area of the GPS website. Also, in MT4, check if you have any error messages under the EXPERT tab at the bottom. Any issues with the EA will be reported here.
Can I Use the GPS Robot On My Laptop?
You can run MT4 and the GPS ea on a laptop, but you need to be careful that it never goes to sleep. Often a laptop will power down when not in use, even when plugged in, and you don’t want to miss any trades. I use a dedicated PC to run MT4, but a VPS could also be a good solution for you as an alternative to a laptop.
Does GPS Work On Mac OS?
GPS ea runs on MT4, so as long as you can download and install MT4, it can be run on various devices and operating systems (including Mac OS).
Is This a Scalping Bot?
No, GPS Forex Robot 3 is not a scalping bot/ea. It doesn’t trade very frequently (sometimes not for a few days), but when it does, there is a very high probability that it will succeed in turning a profit.
Can I Use GPS Forex Robot In My Country’s Forex Market?
The robot will work on the MT4 platform in any country around the world. However, not all brokers accept every country, so it’s more about the broker (MT4 provider) than the robot itself. As long as you can find a broker that operates in your country of residence that uses MT4, then the robot can be installed and run with that broker. You can contact me if you’re not sure which broker you should use, and I will try to help.
Full GPS EA Review
I’ve been monitoring the performance of this bot for about 1 year now and purchased it in November 2019. Since then I’ve been testing various settings so that now I have a bot that trades my account very consistently and profitably. In this detailed review, I will share the facts about this EA as well as describing my own experience of running the bot for over one year now.
This forex robot (EA) has been around for almost 10 years, and it has certainly stood the test of time. On their sales page, you can see that they have various verified trading accounts that have made substantial profits. Not only that, but the accounts have not been manipulated or altered, and some show profits going back 8 years or more (when earlier versions were being released).
It’s important to see various verified sources of long trading history. Many other forex robots hide their past performance because the bot will suffer huge losses as market conditions change, and therefore, they can’t show a full history. As we shall discuss, it’s not just on the GPS sales page where we can find a long track record, but their results have been proven in various third-party sources. You’ll see as we go through this review that GPS Forex Robot 3 is an incredibly good value at just $149!
After purchasing the bot, you will be granted access to the member’s area. This is where you get access to the software and your license. It’s also got additional content such as some FAQs, some bonus strategies, and tutorial videos. Some of this content is a little dated now, and it could benefit from being refreshed, in my opinion. However, everything you need in order to get set up is in this members area, and some of the bonus content is helpful for absolute beginners who know little about the forex market.
From inside the members area, you also have access to their customer support. Although many of my subscribers have purchased this EA and enjoy it, not many people have many good stories to tell about their support! It’s probably the biggest negative of this product. If you need billing support, that can be done through ClickBetter (who will have emailed you an order confirmation document). For anything else, you might be better checking if your question is already answered in the member’s area FAQ or my FAW’s above. Hopefully, you won’t need their support anyway, but if you do, don’t expect a swift response.
The GPS Forex Robot 3 will work well with any broker as long as they use MT4. Different brokers have very different services to offer, and you do need to consider factors such as whether or not they offer free MT4 accounts, where they are regulated if they accept customers from your country and the cost of trading (spread and swap rates). I have used GPS forex ea with multiple brokers, including FXChoice, FXPrimus and LQDfx. The suggested leverage for running the bot (according to GPS developers is 1:200, so your broker needs to offer this.
Setting Up The EA
Setting up this bot on MT4 is very easy. If you’ve already set up expert advisors on MT4 in the past, then you will find the process to be the same and only takes a few minutes to complete. If you’ve never done it before, though, then installation instructions are provided in the member’s area. Once you have the EA installed on the currency pair you want to trade with, you should see a smiling face on the right-hand side of the screen, which means you’re ready to trade. At this point, you can load my settings if you want to use them (I share my settings free of charge to those who sign up to the bot using my referral link). I explain how to load these settings on the free bonuses page, so make sure you contact me, so you have access to this page.
Personal Track Record
We’ve already mentioned that on their sales page, GPS Forex Robot shows some of their own verified trading history using the bot. However, I have published my own trading history and have found other 3rd party proof of exceptionally good profits using the GPS Forex Robot 3.
My full trading history is published here – https://www.myfxbook.com/members/TradeWise1/trade-wise-gps-ea/6186094
Even during extremely volatile markets, in which most traders were getting wiped out, my trading remained profitable. I have so far averaged about 8% per month and expect the returns to remain consistent now that I have found the best settings. Many investors pay thousands of pounds to fund managers, independent financial advisors, brokers, and the like to earn them 5-10% returns per annum. This bot exceeds those returns quite considerably and is available for a fraction of the cost. You should always remember that forex trading is high-risk, though, and your capital isn’t always safe, especially in the current worldwide economic situation.
There are some interesting reviews on forexpeacearmy for this product. Some of them are from people who clearly gave up on the bot too soon without finding the best settings, but others are from people who have been getting consistent profits, as I have. Perhaps more importantly, though, FPA themselves have been running a live test of this bot for many years, and their tests are showing a 552.91% return! See here for more details – https://www.forexpeacearmy.com/forex-strategies/704/gps_forex_robot
It’s very rare that FPA test bots, and getting such strong results goes to show the quality of this EA.
A lot of people buy bots such as the GPS Forex Robot 3 and test it for a short time before writing a negative review and looking for the next shiny object, buying that, and repeating the whole process over and over again. Some bots fail miserably when analyzing forex indicators or pulling out when their reverse trade starts losing.
Whilst it’s true that many bots out there simply don’t work in the long term, there’s sufficient evidence to suggest the GPS Forex robot works and is, in fact, quite reliable in helping you get outstanding and stable profits. Based on my own positive experiences, I think that anyone looking for an automated way of profiting from the forex markets should seriously consider it. My trading results so far have been excellent and consistent.
I hope you enjoyed this GPS Forex Robot Review. If you have any questions, please post a comment below. Thanks for visiting.
This review is for https://gpsforexrobot.com/
If you enjoyed this review you might also like our Yieldnodes review
I’m Jon, owner of Trade Wise at https://tradewise.community/ and https://www.youtube.com/channel/UC7VmOx8DbvX4Rbrac2pPcjw
I review forex and crypto trading products and services to find the best of what’s out there for creating a passive income without becoming a full-time trader.