Forex Robot Reviews

GPS Forex Robot Review | Any Good?

Gps Forex Robot is developed by Mark Larsen, an avid Forex Robot reviewer with many videos and websites around the net.

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This entry is reserved for our official review of the Forex GPS Robot.  If you are interested in more information on this forex robot then check out the link or any comments below.

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55 Comments
  • Rahadian Dimas - Posts:
    May 13, 2013
    Reply #1

    I think all of you that think this robot doesn’t work just got this ea from some idiot forum and download it and did some stupid back test, just shut up because that crap is not original robot you stupid. JUST BUY THIS ROBOT AND TRY IT YOUR SELF MORON, THIS ROBOT IS MY HOLY GRAIL….!!!

  • Julian, a.k.a. The Professional Bum - Posts:
    July 10, 2012
    Reply #2

    This seems to be a copy of the very risky “Fish Forex Robot” by Rita Lasker, or the other way round.

  • jrgkop - Posts:
    August 5, 2011
    Reply #3

    Hi, I have stress with the developers! I have this EA since 2 month and its not trading (onto 2 different ac.) or when its trading, it kills accounts in just one night. I`ve lost a demo account with ONE trade over 140.000$ and I lost real money at a live ac. more than 500$. After testing several settings, and I know what ist to do, it`s still sleeping.
    So, I trie to get back my money , but the developers didn`t answer my mail(s, 4 or more)! Sorry for wording, “it`s shit!” Don`t use GPS anymore!

  • Rio - Posts:
    August 1, 2011
    Reply #4

    Oh my God, I’m scared when reading these review, not only people here, but I’ve lost $2000 real money that I’ve earned hardly….

  • alva - Posts:
    July 9, 2011
    Reply #5

    I used GPS EA more than 1 year. I had 2 – 3 very small wins every week; all during night (european time) with EURUSD. The EA never traded with EURGBP and USDCHF.
    July 5 one trade has eaten up more than all the small gains of more than 12 months.
    After all: it’s not worth it. Mark Larsen is busy with all sorts of reviews and robots and has little time for measly buyers of GPS.

  • Richard - Posts:
    June 7, 2011
    Reply #6

    BEWARE OF GPS FOREX ROBOT. STAY AWAY AS IT WILL BLOW YOUR ACCOUNT IN A SECOND TIME IT LOST. FIRST TIME IT LOST IT WILL INCREASE THE LOST SIZE 5 TIMES. WHAT HAPPENS IF IT LOST AGAIN IN THE SECOND TIME???? LET HEAR WHAT MARK HAS TO SAY BECAUSE HE DON’T KNOW HOW TO ANSWER THAT QUEST EITHER…………………………………………………………………………………………………………………………………..Hi Dear Richard,

    I use this system on my live real money account already more than one year.. but for today
    I have 100% of profit in the trade after the 1 loss.. you also can see it on the backtests.. which
    can give you more information about last five years for example on the usdchf:
    http://gpsforexrobot.com/tests/GPS_Forex_Robot_USDCHF.htm

    so as you can see it’s also 100% of winnings. But if you asking me about.. what will if not?

    So in this case gps robot will use analyses of the current situation on the market for the next step
    and will make a decision about it.. also I should say.. it not will worked on the backtests.. only on the
    forward tests. But even without this trick it works well on the backs during last five years.

    Best regards

    DOES HIS ANSWER MAKE ANY SENSE REGARDING WHAT HAPPEN IF THE ROBOT LOST AGAIN FOR THE SECOND TIME????????? YOU WILL BE THE JUDGE BECAUSE I HAVE LEARNT A LESSON WHEN IT BLOWN MY ACCOUNT WITH REAL MONEY

  • Wan - Posts:
    May 25, 2011
    Reply #7

    dont put this piece of junk on yout metatrader. it wiped out my account twice

  • David - Posts:
    May 17, 2011
    Reply #8

    I have the GPS robot for 4 months and it didn’t loose yet but it is very important to know the folowing points.
    1) The GPS robot works two or three time a week with a take profit of 5 pips and on a leverage of 10.
    2) Sometime it closes the negative trade and after that it will open a reverse trade, which will make profit and cover previous loss trade. in this case the leverage 10 is multipied by 5.3. so it wil became very risky, and if it will loss than it will wipe out all your account.
    3) It is forbidden to close the GPS robot manually , when you close a position the
    gps robot open a reverse trade and you risk all your account.

  • shawn - Posts:
    May 11, 2011
    Reply #9

    Please do not believe with this EA. I’ve just got my account wiped out in 2 trades this morning and a total lost of USD6.5k. Is a very expensive lesson for me.

  • andieliu - Posts:
    May 7, 2011
    Reply #10

    this ea same with the forexsteam metode.scaping with huge drawdown….

  • N. L. - Posts:
    April 29, 2011
    Reply #11

    No trades on the EURGBP. Perhaps, I’m the only one with this result?

  • tom - Posts:
    March 19, 2011
    Reply #12

    hi

  • tom - Posts:
    March 19, 2011
    Reply #13

    I haven’t got acces, but I write email to support. And they send me the pw in one hour!
    Clickbank is send me also

  • Dagger - Posts:
    March 9, 2011
    Reply #14

    Don’t see any real problem with it after trialling it extensively. You have to religiously observe the lot-size versus account size or YOU WILL get margined out. Happened to me today on one account (3.5 lot size on a $5800 account lost me $536). It seems to buy when it should be selling and vice versa – so ends up in deep loss chasing its tail for many hours on end (i.e. until there’s a news announcement (USDCHF today) or trend reversal (EURUSD today) that rescues it short of the 88 pip reversal play at 5 times the initial lot-size. That seems to be the real fun and joy killer….. when you get to that 88 pip “point of must return”. Hopefully the next version might offer some alternatives to sitting there helplessly watching it crash and burn. When it happened to me previously (approaching that 88 pip inferno), I had to quickly fax an authority to my broker to transfer funds from another account to preclude the margin out result that I could see coming like a steam train. It trades very infrequently, but 50% of its trades put you in heart attack country because they buy when they should be selling etc.
    If you stick to the Auto money-managed lot sizes you’ll not make 3 figures on less than a $13K account – simply because it’s a strict 0.1 per $100 lot-sizing. Manually up the lot-size and you can expect unavoidable losses. I suspect that they are auto-triggering the trades at 2300 and 0000 GMT via the Clickbank authentication link. 2300 and 000 is when you can reasonably expect least volatility in the markets. However it doesn’t always work out that way. Today was a 8 hour grind to get those five pips back.
    If you’re on a high-spread broker, all you get is about 4 pips per trade anyway. That’s why you need a raw spread broker like IAMFX and FinFX etc., or it’s hardly worthwhile. Stick to the rules and mount it on a VPS for relaibiliyty and you will see your account grow exponentially over the next two decades (if they’re still triggering the trades at that time).

    • Michele - Posts:
      February 8, 2013
      Reply #15

      What do you recommend a newbie who knows nothing hardly anything about Forex who can start with $250 use as far as robot, broker and VPS?

  • LS - Posts:
    March 8, 2011
    Reply #16

    My opinion is that this system is a piece of crap. I have bought it yesterday. Now was doing simulations using MT4 strategy tester with lot size suggested by the author (0.1 lot for 10k$). And I was doing simulations for one month ,two months, 3, 4 and so on. And it fails on 3 months test period. Basically what it does is it makes a trade – only one trade – which will wipe out your account. I have not even tested this on demo account. I think simulations is enough proof. Anyone else had same experience ?

    • Lament - Posts:
      March 16, 2011
      Reply #17

      Hahahahaha…WHO PAID YOU MAN?

      I have been using GPS for 2 fking months and with a account balance of 1000$ and now up 1297$ using GPS…You said only one trade sssht it makes 3-4 trades a week and 99% of its trade were profits…Go take your RANT some where else..

  • Fadzli - Posts:
    March 4, 2011
    Reply #18

    this EA can work for fxclearing Meta Trader??

  • Hamish - Posts:
    March 3, 2011
    Reply #19

    This is not a scam. Mark has done an excellant job with this ea and I had no hesitation in buying it after following his EA testin/evaluating webpage for over two years . To date this has been the most successful EA I’ve used. I’ve tested over 110. This is the only one I’ve actually used on a live Classic account where 1.0 lot = £10

    I used this EA initially on a demo account, then a micro live account and now a regular classic account with Alpari uk. It has worked very well so far. On the 13th I managed to make a profit even before the reverse trade was initiated so was lucky. We should have options on chnaging inputs which I believe are coming with the next version. An 88 pip stop loss and reversal stragey for the USDCHF pair is too large with respect to the daily ATR (20 period) it needs to be maybe ~ 20% less@ approx 66 pips than for the EUR/USD which has a larger daily ATR.
    On the live accounts the spread at 24:00 hrs uk time can be as large as 2.5+ pips each way a total of 5 pips which only allows a 2-3 pip profit to be obtained on the 8pip TP target. With a changeable TPlevel (coming in the next version) profitability will be greatly enhanced. I’ve started backtesting at 25 and 40 pips respectively.

    Those are my thoughts

    • Roger - Posts:
      September 10, 2011
      Reply #20

      Hamish, thanks for your intelligent response. I have been running this ea for almost a yr. now and am wondering about the new version update that just came out. Would you like to share some info. on it?

  • pascal - Posts:
    March 2, 2011
    Reply #21

    Test it on 4XP Broker since january, NO LOSS¨! But it also trades only one trade per night! Never seen two trades or more…. but one with no loss is also good 🙂

  • Ral - Posts:
    February 10, 2011
    Reply #22

    HI everyone. I am looking for a way to get this EA. Can anyone please email me on how to get it.
    I wish to know if anyone has tried forex hacked robot yet. I have all three version.. I must say its vry profitable. If you wanna try it jst email me….

    • Los - Posts:
      March 3, 2011
      Reply #23

      Hi my friend used FH but he has not tried v 2.3. have you tried it? the only issue with the previous version were drawdowns caused by being overly agressive. i would love to try v 2.3. thanks

      • Ral - Posts:
        March 15, 2011
        Reply #24

        u can send a mail to ralozoma at gmail dot com.. and i will send u forexhacked 2.3 to try..
        I use it on my live account with sunbirdfx

    • Abiodun - Posts:
      March 24, 2011
      Reply #25

      I will like to try it. send details to ijoabiodun at yahoo . com

  • Pierre - Posts:
    February 4, 2011
    Reply #26

    Hello,

    I use gps robot already during one month and it makes almost 20% of clear profit for me.. and 24 consecutive profitable trades! I really happy with the results and want to go on.. I know that gps is risky a little bit, but I not use all my money with trading on the forex market. My friend Olivie already make widrawal of profit, he use gps robot since 24 december and it makes 34% of profit with one loss trade which was restored by the big recovery profitable trade. 🙂 Lets see what will be in the future.. but I satisfied so far.

    Pierre

  • Dan - Posts:
    January 28, 2011
    Reply #27

    I received same message than Joy. I’m now testing for a month and will ask for a refund.

  • Reza - Posts:
    January 28, 2011
    Reply #28

    This EA will blow your account. more than that i am very sad that someone like Mark, who used to have a good reputation created a such a loser EA

  • Joy - Posts:
    January 20, 2011
    Reply #29

    I asked for a refund yesterday and despite having a copy of the site’s original Terms & Conditions, Mark emailed me (via Clickbank ‘s refund procedure) with the following:
    First of all let me explain the 60 day Money Back Policy:
    Trade GPS Robot on a DEMO account (they are FREE to open with any FX
    broker) or live account, as you wish, for 30 days. If you are not happy
    with the results, NO MATTER what they are, send us your account statement
    within 60 days of purchasing and we will give you a FULL refund – no
    questions asked.

    If that had been in the Terms & Conditions when I purchased it, I wouldn’t have bothered. It certainly wasn’t and I still have a screenshot of the webpage.

    I think it’s sad that someone like Mark, who used to have a good reputation for his integrity, is now lying just to avoid a £100 refund!

  • Markus - Posts:
    January 17, 2011
    Reply #30

    This EA is a scam.
    Ask for refund as soon as possible.
    Look here what will happen to your account: http://www.mt4i.com/users/gps-forex-robot-bfr

    • S - Posts:
      January 26, 2011
      Reply #31

      Markus, that’s exactly what happened to my real account. Just in one bad trade I got margin called.

    • yyu10 - Posts:
      February 3, 2011
      Reply #32

      Which broker were you with? FPA is running a demo for GPS. It covered the same period as your account. Your losing trade was not in FPA’s demo. And your account traded EURGBP almost every day. The majority of those were not in FPA either. Thought the robot would generate pretty much the same trades for all GPS traders.

      • Shahram - Posts:
        February 21, 2011
        Reply #33

        I traded this EA on my Live account at Iamfx with Iamfx VPS. It went wrong on USDCHF and got unfortunately margin call. Game Over. Will never use such a EA.

  • jacob - Posts:
    January 16, 2011
    Reply #34

    I am pretty satisfied with GPS robot so far. I have been talking to russian guys, developers, antony and ron via google talk for a while and testing robot on my live account. it performs pretty stable and they have a verified 1 year live tests on different brokers and an investor password to one of the accs as a proof which is a good sign.

    to the previous reviewer – risk reward does not matter here because robot has a reverse strategy, in case of loss it covers it with a reverse trade (not by martingale).

  • S - Posts:
    January 14, 2011
    Reply #35

    Just to let you know guys that this is the biggest SCAM. After 2 weeks testing this EA I went this week live on my VPS account with 2300 USD at Iamfx. I’m using the standard settings with setting mmManagment True.
    With one bad trade (USDCHF) is my hole account wipeout (MarginCall) and unfortunately have only 209 USD left.
    First the EA took a short position on USDCHEF pair with 10% of my account (standard settings) and after 88 pips lost the GPS closed the short position and went long with 5 times more lots exactly on the top and the trade went again 150 pips against the trade.
    This EA has absolutely no Stoploss and you can lose your money in only one bad trade.
    I guess right now I’m not the only one. Is there anybody have the same experience as me?

  • Mark - Posts:
    January 8, 2011
    Reply #36

    GPS will not survive two losing trades in the row and at default settings it will blow your account. Total loss after second looser would be greater than 100% equity on you account.
    With 1K account and default settings of 0.01 per $100.00 it would need $1,800.00 to close two consecutive losing trades. (first losing trade $135.00 0.1 lot with STP Loss at 88 pips plus second trade with STP Loss of 220 pips and $7.50 per pip on EUR GBP, position 0.5 lots)
    M.

  • bubbles - Posts:
    January 8, 2011
    Reply #37

    I purchased forexgps immediately as I have enormous respect for Mark and his reviews site. I have made all wins so far. I do notice the losses are recouped on a sort of martingale strategy but look to the records – not one fails? Baaring in mind this i didnt mind openeing another account and putting a little money in it with a win or lose mentality. I actually dont believe i will loose… A consistent winner so far and I got immediate response to my initial query whihc i must admit – if i had read the manual properly I wouldnt have needed to ask – but Mark replied immediately and was extremely helpful. I beleive the doors are now closed to this ea for a while – and i am too pleased I am in. 🙂

  • Mark - Posts:
    January 8, 2011
    Reply #38

    GPS is good for two losing trades only!
    When you add-up loss on first trade of up to 12% of equity (EUR GBP 80 pips) and second loser up To 66% (88 pips on EUR GBP) and margin up to 20% it appears that you are done!
    What is probability of getting two losing trades in the row – 100%
    Good luck 🙂
    M

  • James Dominguez - Posts:
    January 7, 2011
    Reply #39

    The GPS Robot is good compare to others I have seen. I have a lot of respect for Mark. He does have a good heart for informing the public about everything about Forex world for free without any commission. But the robot does do little trades. Some where around $2 to $10 per trade with 2 to 5 trade per day. Well I know mark won’t give up easy. I Believe he will build a better robot soon.

  • Jim - Posts:
    January 5, 2011
    Reply #40

    This EA operates with no stop loss or take profit transmitted to the broker during it’s trades. God help you if the power to your computer or VPS happens to go out while the EA is actively trading.

    JIm

  • marlea - Posts:
    January 1, 2011
    Reply #41

    I had installed correctly on demo acc…for 2 days no trade & email to GPS support and they replied to my inquary..on 31 Dec the GPS EA took 2 trading position and close with profit…will monitor for 2 weeks before trying it on real account. Happy New Year to all ..

  • PW - Posts:
    January 1, 2011
    Reply #42

    I’ve had 12 successful trades so far and no losses on my demo. I’m nervous to try it on my live account. If you look closely at the statements you will see that when there is a loser, the robot buys or sell 5 times the lot size of the loss to make up ground quickly. I’m worried about this strategy, so I will be testing for while to see the losses in action.

  • JOSE G - Posts:
    December 31, 2010
    Reply #43

    3rth day live trading.
    1st day 3 winning trades,
    2nd day 3 winning trades.
    3rth day 2 winning trades.
    Did not loose once.

    Hi George, also got Leo Trader Pro but at the moment and after sufferinf for the stable installation it only traded once and susccessfully. I think that Leo’s server is waiting until january to actively trade.

  • JOSE G - Posts:
    December 28, 2010
    Reply #44

    I must to confess that I had a problem with intalling the EA. Support reacted instantaneously but we did not understand eachother untill I understood myself what I was doing wrong to activate the live account. Tonight (23.00 hrs) it opend 3 trades and all 3 winning ones. My start amount is only 500 € and the EA is using 0.05 micro lots. So far, all fine. I’ll keep posted the next days.

    • George - Posts:
      December 30, 2010
      Reply #45

      The demo for this on Iaxfx and Alpari Us are working great. averge profit 10.00 per trade on 2000 dollar accounts with about 3-4 trades a day no lossers yet .I didnt realize that I was using fixed lots so all trades have been at .2 I just set everyting for MM at risk 8 Will let you know how it goes Question? Anyone tring Leo Pro? Boy do I have a tale of woe for that so far!

    • Ling - Posts:
      January 26, 2011
      Reply #46

      hi,

      Anyone noticed that this EA opens trades only at the time 00:00, and so it trades only once a day for each currency pair. The only exception is that when it does a big loss, it will open a reverse trade, so this would be the only time it trades at a different time other than 00:00. It is not set for the max. profit as they said. Well, but I can’t say if this is a scam or not, because sometimes the simplest thing works the best. Anyone got some ideas?

      However, I think it’s still better than those which get a big loss and cannot recover it immediately. However, I wonder if it will still work on our real live trading in a long run. Many EAs just worked in their early releases. Hope Mark has not fooled us…..

      Linger
      hi, Anyone noticed that this EA opens trades only at the time 00:00, and so it trades only once a day for each currency pair. The only exception is that when it does a big loss, it will open a reverse trade, so this would be the only time it trades at a different time other than 00:00. It is not set for the max. profit as they said. Well, but I can’t say if this is a scam or not, because sometimes the simplest thing works the best. Anyone got some ideas? However, I think it’s still better than those which get a big loss and cannot recover it immediately. However, I wonder if it will still work on our real live trading in a long run. Many EAs just worked in their early releases. Hope Mark has not fooled us…..

  • George - Posts:
    December 28, 2010
    Reply #47

    Out of all the Eas Ive bought 30 plus, only the original Fab turbo, Forex bullet proof and now this GPS have actually worked, and only on demo, as my one live money account failed misably with fab turbo 36. So far so good, althought the promo for this claims it is not a martidale trader

  • Frank - Posts:
    December 28, 2010
    Reply #48

    I am far from an expert on EAs, but when I see an 88 pip stop loss and a 3 to 5 pip take profit I start to worry. This EA may possibly do well, but I would want to trade with a very small lot size and watch my account very carefully.

  • Greg - Posts:
    December 27, 2010
    Reply #49

    Yes..I bought it! I used customer support and got a repondes in a few hours! I was shocked.. So far NO trades.. I will be watching this like a hawk!!.. Will keep you all posted!!!

  • M Wain - Posts:
    December 25, 2010
    Reply #50

    EURUSD backtest starts from 2007 and USDCHF from 2006.
    Guess why?
    You will realize that this EA is a shit when will be to late.
    Before to use it in live just run a backtest 2005-2007 to see what will happen to your account.

  • Chucky - Posts:
    December 24, 2010
    Reply #51

    I bought it yesterday and it made me 3 profitable trade so far 🙂

  • M Wain - Posts:
    December 24, 2010
    Reply #52

    This EA will blow your account.
    Is a martingale EA with a huge risk and very small profits.
    Stay away.

  • Required: Name - Posts:
    December 24, 2010
    Reply #53

    Scam. I can’t receive access to product or members area. I have sent numerous emails without any reply. They were very efficient taking my money but terrible giving me what I paid for. Terrible customer service right from the get go. Stay away… I will be requesting a refund.

    • Ling - Posts:
      January 24, 2011
      Reply #54

      I can’t receive the email to access to the product or members area either! How can this happened?! And I purchased it twince! Nothing happened excepts that my money had been taken away instantly…! and I don’t know how to get it back! Shiiiiiiiiiiiiiiitttttttttttttttt!

    • Ling - Posts:
      January 25, 2011
      Reply #55

      Hey, I got access to their product finally. It just took some time…I saw their live account report which performs so well by far…I am tring the demo account and hope it’ll realy work like that…

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