Forex Auto Millions is a system with a very inspiring name but demo account trading results. We don’t know why the developers don’t make money on the real market if this robot is truly good to go. We can’t be sure that the robot is what we see on a demo account.
The developers avoided providing information about their legal registration. We couldn’t find any other robots in their portfolio. Most likely, the service was created in April 2021 when the robot was deployed to trade.
The presentation looks simple without huge explanations about settings and features. We couldn’t find any sign of legal registration of this system.
What is behind Forex Auto Millions?
The advisor has a few features, details, and settings explained.
- We can execute deals automatically on our terminal.
- The system doesn’t use risky strategies like Grid, Hedge, and Martingale.
- It places orders on the M5 time frame.
- The advisor was tested on the original tick data of 99% of the modeling quality in total.
- But this won’t guarantee feature performances.
- We have to customize risks that would be suitable to us.
- The system is delivered with a refund policy on the board.
- It was originally designed to work with EURUSD only.
- The system opens and closes orders for us.
- It calculates lot sizes, TP, and SL levels.
- The only platform to work is MT4.
- It works on the M5 time frame.
- We don’t know details about recommended leverage.
- Probably, for trading on M5, we should have $100-$300.
- For trading on a low time frame, the broker should be ECN.
The developers avoided telling us about the trading strategy. So, we there can be price action, trend, or news trading.
We have a backtest report of EURUSD on the M5 time frame based on 18 years data. The modeling quality was 99.90% with variable spreads. The maximum drawdown was 5.04% ($14,987). The robot has executed 7382 deals with a 100% win rate for short trading direction.
The offer informs us that a real account copy costs $99. We have no pack details explained about what features we will receive after purchasing.
Trading performance of Forex Auto Millions
The system executes orders on a demo account on a well-known broker, FXOpen. It works automatically (wasn’t mentioned) without leverage on MT4. The account has a verified track record. It was created on April 08, 2021. Since then, the absolute gain has become 77.68%. An average monthly gain is 6.38%. The maximum drawdown is 39.73%. This may not fit conservative traders’ expectations.
The advisor traded 628 deals with 2345.6 pips. An average win is 4.99 pips when an average loss is insanely deeper, -74.12 pips. The win rate for shorts is 98%. The advisor skips trading the long direction. An average trade length is 9 hours 57 minutes. The profit factor is 3.06.
Forex Auto Millions trades with significant risks to the balance.
The developers avoided sharing closed orders not to reveal Martingale.
The advisor closed October 2021 with big losses.
We don’t know how good the support is. There are no verified testimonials about it.
As usual, there are only positive testimonials written. The list of them hasn’t changed for years.
There’s a page on Forex Peace Army created. There is a single testimonial written.
It doesn’t seem to be a trustful one.