GPS Forex Robot Review

My Review of GPS Forex Robot

I read various reviews about GPS Forex Robot before purchasing it. Learning that Mark Larsen is a real Forex trading expert made me think that this software will probably be better than the ones I tried before.

GPS Forex Robot was first launched in 2008 – that’s almost a decade from now, and it still has lots of positive feedback. Anthony and Ronald also launched their own trading software after the success of the GPS EA, and so far, they are doing good in the industry. The newest version 3 offers more features and advancements.

What I love about this Expert Advisor

• This software does not require a broker registration. This means you can trade with any broker you want.
• You are not required to deposit hundreds of dollars before being able to use the EA.
• The user-interface is friendly, and newbies can easily understand the process of trading with the robot.
• Trusted and has good credibility online.
• Has a stable performance since launching.

Broker Choices

As I mentioned in this review, I did some research before purchasing this product. One important aspect of trading successfully is knowing which broker to choose. I started with FXChoice because there are good reports of trading with this broker and the GPS Forex Robot 3.

FXChoice proved to be a good choice, and all my first few trades won. When I saw profits coming from this broker, I started trading with two more – IamFX and ibfx. Not long after that, ibfx closed their account. I was able to withdraw my money from them. Until now, I am still trading with IamFX.

When comparing my results with the ones on their site, I saw that my results are just slightly worse than theirs, which means that they have honest marketing and that their robot works like they claim it would.

Trading Frequency

For the first weeks, I noticed that GPS Forex Robot 3 does not trade as often as the other robots do. At the end of the week, I would only have 2 to 3 trades on my live account. It was not a big deal since all of my trades won. It is designed that way to have more winning trades.

I then learned that you could set the frequency of your trades. You can actually trade every day. By default, new accounts are set to have safe settings that you can configure to make your software trade more often, by setting your Auto Analyze function off.

Sure, you may get more profit when your robot trades every day, but keep in mind that the more you trade, the higher your risk of losing. I choose to trade only a few times a week. It may be slow, but the possibility of winning is much greater.

Trading Results

I have a $10K account with this robot. The good results I have seen for months made me feel confident that I will profit from GPS Forex Robot. So far, my profit is at $2,800, which I can say is decent. I lost some trades with this robot, but it’s amazing how it can recover from the loss.

Because I set the robot to trade only a few times a week, I can’t say that I make a profit, but with my 2 years of experience from them, I can assure you that the result is almost always stable. If you are looking for a robot that you can trade with for a long time, GPS Forex Robot is your choice.

Some robots in the market can make you huge profit in the first few weeks, but will quickly blow your earnings in the next coming days. I never saw that happen to my account in GPS Forex Robot. In fact, my profits are always rising. It can be slow, but it’s steady.

Conclusion

If you are a long time trader, you may have already heard of GPS Forex Robot. This robot is best for beginners who do not want a complicated process of using an EA.

You can trust this robot because their sample results are verified. They also have verified documents from brokers – things that you should be looking for when choosing an EA.

Like with other EAs, you can expect losses while trading with GPS Forex Robot. However, the robot will immediately open a recovery trade that will work to cover the losses. So far, all of my recovery trades are profitable and are successful at covering my losses.

Some traders are so confident with this robot that they trade 100K on their accounts. Some are seeing $300,000 profit (unverified). If you are a new trader, I recommend starting with a small amount and go up from there.

Additional Reviews

These reviews are older. More recent user reviews were posted above.