This is my full (and very honest) review of GPS Forex Robot 3, also sometimes referred to as the “GPS ea”. Watch this video review in full to discover if this bot is right for you…..
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Myfxbook live results from my trading (as shown in the video). Notice how stable my results have been since February 2020 when I got the settings just right.
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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 to above 65%. As I researched the bo more and tweaked the settings, the bot became much more reliable, with more consistent profits and very low drawdown. Getting the right settings is hugely important, but you have them the bot will run very 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 account (also with FXChoice) and the results have mirrored those I am getting in the demo account.
Frequently Asked Questions About GPS Forex Robot
- How Much Does GPS Forex Robot Cost?
The 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 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 with as little as $100 in your trading account if your broker accepts that amount.
- Is GPS The Best EA Out There (and are there any other good ones?)
In my opinion, GPS is one of the best and most stable EA’s out there right now, which is why I use it and am happy to promote it. I am always testing new bots though, and right now I’m testing 7 different EA’s. Hopefully some of these will be good enough for me to share with my audience, but I will always run GPS for as long as it remains profitable.
- I’ve Purchased And Set Up The Robot But I’m Not Getting Any Trades. Why Not?
The robot 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 members area of the GPS website.
- Can I Use GPS On My Laptop?
You can run MT4 and the GPS ea on a laptop yes, 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 then 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 the success/win rate is very high.
- Can I Use GPS Forex Robot In My country?
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.
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 explain why this is possibly the best ea for MT4 right now, as well as revealing some of the less positive aspects of the bot.
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 a 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 incredibly good value at just $149!
After purchasing the bot, you will be granted access to the members area. This is where you get access to the software and your license. It’s also got additional content such as some FAQ’s 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 are, you also have access to their customer support. Although many of my subscribers have purchased this EA and enjoy it, not many people have much 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 members area FAQ, and if you’re still struggling you can contact me and I will try to help if I can. Hopefully you won’t need their support anyway, but if you do don’t expect a swift response.
As one of the best EA’s for MT4 right now, the GPS Forex Robot 3 will work well with any broker as long as they use MT4. Different brokers have very different things 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 used the broker recommended by GPS Forex Robot 3 in their members area, who is FXChoice. If you sign up for account using this link then you will get some additional free bonuses from me, so it’s well worth considering. I find FXChoice to be very good across the board and their costs for trading seem to be very low, so I have no issue with them.
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 members area. Once you have the EA installed on the currency pairs 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 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 exeptionally 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 10% 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. This is why the returns are so impressive – and they are yours to keep 100% without splitting them with a broker or paying out huge annual fees.
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 536% 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. Whilst it’s true that many bots out there simply don’t work in the long term, there’s sufficient evidence with the GPS Forex Robot 3 that it is reliable and profitable. 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. Having tested dozens of useless bots myself, this has to be one of my all-time favourites, and I continue to use it to grow my personal wealth.
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/