GALILEO FX presents their trading robots with a huge monthly ROI that raises suspicions over the authenticity. Their program works on both MT 4 and comes with a complete installation guide. They fail to provide any actual proof of their experience and location.
GALILEO FX EA Features
The robot has the following features:
- Requires no trading experience
- Has 24/7 support through email with lifetime support
- Trades automatically without requiring any intervention from traders side
- It runs on both demo and live accounts
Pricing
The expert advisor is available for $199, which includes the personal version. For $399 you can get the plus version that guarantees profits of $5000 a month. You can also buy the pro version for unlimited profits for $899.
The asking price is way too high. Similar systems in the market are sold for a much lower cost.
How it works
After making a payment for the desired program, the developers of GALILEO will send you the expert file. You have to enable auto-trading and attach the software to a chart to begin trading. The developer suggests loading presents or using your own custom settings for the robot to work efficiently. They suggest running it for five hours a day without interruption.
Trading Strategy
The developer does not provide much information on the trading strategy of the system. They only state that the expert advisor trades on bullish and bearish signals, the frequency of which you can customize. It is possible to use stop loss and trailing stop for maintaining proper risk management. Using the trading history on Myfxbook, we can see that the robot uses both martingale and grid strategies extremely risky. It uses a day trading approach, meaning that it opens and closes out trades on the same day.
Trading Results
Live results are available on Myfxbook for multiple systems. GALILEO also includes their demo accounts for consideration which has a reasonably high performance in contrast with live. Virtual portfolios can not be used to determine if the expert advisor is good enough, which is a con for the system. These accounts do not respect real market liquidity and slippage.
Most of the live accounts have started tracking recently since October 2020. The initial gains are pretty high, which shows that the developer used more risk to show more significant returns. They have relatively small deposits from which we can discern that GALILEO does not like to risk big money. To save their money and keep profits
For their crusher system, the monthly gain is 48.20%, with a drawdown of 11.23%. The win rate is 82%, with a profit factor of 3.04. The best trade was $9.5, and the worst was -$9.8.
The monthly gain is 28.13% for the millionaire plan account on myfxbook, while the drawdown is 21.57%. The best trade was $43.09, and the worst was -$25.34.
Customer reviews
The website openly shows the customer reviews on TrustPilot, which are super positive and look as if the developer himself writes them. However, they fail to address the negative reviews on the noted forum Forex Peace Army. The two feedbacks indicate that their system performs terribly and they are scamming customers.
