GPS Forex Robot Review – Compare The Best Forex Robots EA Providers 2023

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Below you can read a profile of GPS Forex Robot provider. We have monitored and reviewed a wide number of forex EAs vendors. If you wish to check more forex expert advisors’ profiles – click here

GPS Forex Robot by Mark Larsen and the developer Antony and Ronald has been around for several years now, getting many traders’ attention. The latest version of the robot GPS Forex Robot 3 was launched in 2015 and has been regularly updated ever since. In this review, we focus on the software’s trading strategy, the performance results, and the customers’ testimonials.

GPS Forex Robot Overview

Mark Larsen is well-known in the forex market as a long-time developer of automated trading software. Several years ago, he joined his efforts with the graduates Antony and Ronald and together, they created GPS Forex Robot.

Putting names behind the project their openness towards the customers’ enquiries have won them the interest of both beginners and advanced traders. Today, they have a strong community of followers, Facebook and Twitter account where they answer many of their questions.

The first edition of GPS Forex Robot traded in only one currency pair. The latest version is upgraded to four – EUR/USD, EUR/CHF, EUR/GBP and USD/CHF. The software works with every MT4 broker account but, unfortunately, doesn’t support MT5.

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GPS Forex Robot Trading Strategy Review

Mark Larsen and his team of programming experts have revealed the trading strategies their product is using. They have merged several different approaches – martingale, trend trading, stop and reverse to create their own unique trading strategy.

According to Mark’s words, they are constantly working on developing the software and trade with themselves, aiming to provide the best possible solution to their customers.

GPS Forex Robot Performance Results

The website of the GPS Forex Robot is very detailed and informative. Mark and his team strive to provide updated information on how the automated software works.

He claims that the robot is 98% of the time right. To back that up, he gives the results from GPS Forex Robot’s myfxbook account. The account was open in 2012 and since then has gained 550%. The EA doesn’t use scalping but rather trades at a slow and steady pace.

As Mark Larsen says: “It doesn’t trade very frequently (sometimes not for a few days), but when it does, the success/win rate is very high.” And the numbers confirm his words. Since its inception in 2012, the robot has traded only 480 times. In 2020 it had opened only 19 positions.

This might seem too slow for traders who prefer a more dynamic style. Still, those who prefer quality over quantity will not be disappointed as the bot hasn’t marked a losing month in a very long time.

GPS Forex Robot Conclusion

GPS Forex Robot is well advertised by the developer, and the detailed website is quite persuasive. However, we have found some negative customer testimonials warning about a scam. In our opinion, GPS Forex Robot has been on the market for nearly a decade, which is a good reason to believe that at least part of its vendor’s claim is true.

Additionally, it comes with a very reasonable price (149 USD) and an easy setup, which makes it affordable for both novice and advanced traders.

Pros:

► Long history and verified results

► Developed by experts in trading and programming

► Low price

Cons:

► Doesn’t trade often

► Implement the Martingale strategy