Forex Auto Millions trades automatically for the user on autopilot 24 hours daily. All you need to do is to attach it to the currency charts on your MT4 terminal. The devs warn that the EA does not provide any guarantee on the percentage of winning trades since trading online is risky.
The vendor of this EA is anonymous. We have no idea who the developers are or where they operate from. Their qualifications, expertise, and trading history are also unknown.
Forex Auto Millions features
You can find the main features of the robot below:
- It is created to support the EURUSD currency pair and trade on the M5 timeframe.
- It includes a detailed setup guide.
- The system works on the MetaTrader 4 Platform and uses any leverage.
- It can run on any account size, so there’s no minimum balance needed to utilize it.
- You can use any MT4 Forex broker. However, it is recommended that you use brokers with lower spreads/commissions and faster execution speeds.
- It provides 24/5 customer support through email only.
- The system allows you to change the stop loss, take profit, filters, and other parameters depending on your needs.
The price of Forex Auto Millions is $49. The software features a single live account license, but there’s an option of buying more using the link available in the instructions. Unlimited demo account licenses and a risk-free 60-day money-back guarantee are also part of the package.
How it works
Once you purchase the EA, the vendor will send the software and instructions as an instant download link. You will also get an activation link, which you can use to activate the robot after installing it on your MT4 platform.
We are reminded that the EA comes with default settings stemming from numerous years of testing. Therefore, its trading activities will be based on the settings and the in-built strategy. If you don’t want the system to work with the parameters, you can adjust them, but the advice is to use a demo account first.
There is no information at all about the approach the system employs to find trades. The vendor just confirms that the EA doesn’t apply any martingale strategies, grid trading, or hedging positions.
We have the backtest results for the EURUSD currency pair. The EA traded on the M5 timeframe using real tick data from May 2003 to March 2021. With a deposit of $5000, the robot conducted a total of 7382 trades. Notably, only sell orders were placed. Eventually, all of the trades were profitable, as we had a 100% profitability rate. This was equal to a total net profit of $318895.70. A low maximum drawdown of 5.04% was recorded, which means that low-risk trading was applied.
We can see that the EA trades dangerously in the real market, unlike when it was under simulation. Within 9 months of trading, it made a large drawdown — 39.73%. On the other hand, the monthly profitability rate was much lower — 6.38%. So, there was an unhealthy risk/reward ratio of 6:1. Other data values are hidden.
For the period the account was active, 628 trades were completed, and 98% of them were profitable. The total pips made were 2345.6. The average loss (-74.12 pips) was much higher than the average win (4.99 pips). As such, the robot had a higher chance of losing trades than winning them.
The EA was very active at the beginning of the week, on Monday and Tuesday.
The robot’s risky trading activities threatened to wipe out this account.
October was the only unprofitable month ever since the account was opened in April 2021.
There’s a single customer review for this system on FPA. This client, who provided her feedback on the product in 2018, gave it a 5 star. The robot made a profit of $600 for her while trading on 0.2 lots. She was also impressed by the customer support provided by the vendor.