Have you been wondering whether GPS forex robot 3 is legit or a scam? Do you want to know the GPS forex robot 3 reviews? This article completely breaks it down for you, telling you if you should trust the GPS forex robot 3 reviews and every other thing you need to know.
GPS Forex Robot is based on MT4, so as long as you can download and install MT4, you can use it on a variety of devices and operating systems (including Mac OS).
GPS Forex Robot 3 is not a scalping bot or expert advisor. The GPS Robot has already been shown to be extremely profitable.
You now have the opportunity to become a member of a happy, money-making family. You can get instant access to this amazing robot for only $149.
Also, you have a full 60 days to decide whether you are satisfied with the results, so you have plenty of time to see if the program is right for you.
What Is GPS Forex Robot 3?
A forex robot is a piece of software that acts as an expert advisor, or EA, advising you on when to trade. You can program the software to initiate and execute trades with your approval based on your preferences.
For traders who use the MetaTrader 4 (MT4) or MT5 platforms, EAs are a popular option. Traders can either use an existing EA or create their own based on their trading parameters. MetaQuotes Language is used to create EAs (MQL).
GPS Forex Robot is an EA developed by Mark Larsen, a well-known forex developer. GPS Forex Robot 3 is the most recent software update.
This forex robot predicts short-term market movements with a high degree of certainty, much like a GPS navigator in a car – hence the name.
According to the GPS Forex Robot 3 reviews, GPS Forex Robot claims to be 98 percent accurate in all cases.
In the remaining 2% of cases, it employs a reverse trading strategy to open a trade in the opposite direction right away.
This is done to make up for the minor loss. According to the official website, this robot generates more than 30% of profits for a private group of forex traders each month.
GPS Forex Robot 3 Reviews of Key Features
What Support Does GPS Forex Robot 3 Provide?
There is a detailed PDF user guide available that provides step-by-step instructions for using this EA. It also contains troubleshooting advice.
You can contact the dedicated support team directly for specific issues. The GPS Forex Robot 3 reviews show that it offers great support.
What is the price of GPS Forex Robot 3?
The GPS robot is available for a one-time fee of $149, which includes access to educational resources such as webinars, video tutorials, and support.
If you are dissatisfied with your purchase, you have 60 days to return it. The GPS Forex Robot 3 reviews show that the price is absolutely worth it.
What Brokers Can You Use GPS Forex Robot 3 With?
GPS Forex Robot 3 is compatible with the majority of brokers. The developers of this EA recommend leverage of 1:200. Because the majority of brokers who offer this much leverage are unregulated, it can be difficult to find one that you like.
FXChoice is regulated by the IFSC, provides leverage up to 1:200, and accepts US clients, so it is worthwhile to open a demo account with this broker.
The GPS robot 3 reviews show that the fact that you can use a majority of brokers makes it really great.
You can read this: 10 Best Forex Pairs to Trade in 2022
What strategy does GPS Forex Robot 3 use?
This robot is neither a high-frequency trading EA nor a forex scalper. In fact, it may not trade at all on some days. The algorithms are programmed to execute a trade when there is a high probability of success.
Also, the algorithms themselves are a closely guarded secret. However, the most common strategy is to stop and reverse.
So, this means that if a trade fails, the robot is programmed to open a trade in the opposite direction.
When a trade goes against you, the contract size is automatically increased. This is part of the built-in coding of this fully automated EA.
Can the GPS Forex Robot 3 Settings Be Modified?
The GPS Forex Robot 3 settings can and should be changed. The following are the most important settings to be aware of:
- Setting your account to ‘true’ means that the robot will automatically analyze market conditions to determine the best times to trade.
- Pairs – When you download GPS Forex Robot 3, you will receive four files. The EA can trade a different currency pair with each file. Profits are most likely to be made when trading the EUR/USD pair.
- Reverse Trade – If you set this to ‘true,’ the robot will execute reverse trades to help you recover from a loss. You must specify how many pips can be lost before this setting takes effect.
- When you set this to ‘true,’ the robot will intervene to stop the loss when a trade begins to lose money.
- Use MM – If you set this to ‘true,’ the software will automatically adjust your lot size based on the capital in your account.
- Experimenting with a demo account allows you to determine which GPS Forex Robot 3 settings are the most effective.
The GPS Forex Robot 3reviews also show that this one of the coolest features of this program.
Can GPS Forex Robot Be Used on a Demo Account?
GPS Forex Robot 3 can be used with both demo and real money trading accounts. Using it with a demo account allows you to become acquainted with the system while fine-tuning the settings to suit your trading style, strategy, and preferences.
Pros of GPS Forex Robot 3
According to the GPS forex Robot 3 reviews, the pros include-
- Transparency of the company – Since 2012, this company has provided evidence of documented, verifiable profits. These are simple to use and available in real-time.
- Designed by industry professionals – The team behind this robot consists of an experienced group of forex brokers with extensive knowledge of FX trading and markets.
- Low purchase price – The $149 initial investment provides lifetime access to the robot and additional resources. The 60-day money-back guarantee adds to your peace of mind. It enables you to request a no-questions-asked refund if you are dissatisfied with the software or support.
- High success rate – When making trades, this robot has a success rate of at least 90%.
- Efficient – The robot operates in a timely and effective manner. Traders experience few losses as long as the optimal parameters are used. You will need to conduct research and learn about the best robot settings.
- Compatible with MT4 – This robot is compatible with MT4, one of the most popular trading platforms for currency traders.
- Members zone – There is an exclusive members zone where you can ask questions and participate in forum discussions.
Cons of GPS Forex Robot 3
While there are numerous advantages to using GPS Forex Robot 3, added to the GPS forex robot 3 reviews, it is always advisable to take precautions before purchasing an EA.
If you are thinking about purchasing GPS Forex Robot 3, you should be aware of the following potential downsides according to the GPS forex robot 3 reviews-
- It is critical to use the proper settings in order to minimize losses. Spend some time investigating the most secure settings to use. Reverse Trade and Trailing Stop settings, for example, should be set to ‘true.’ If they are not, you could face a much larger loss.
- Finding a broker. Finding a broker who is willing to support high leverage can be difficult. If you do find one, it will most likely be unregulated, so you should be aware of the risks this may pose.
- Customer service can be slow. GPS Forex Robot users have access to a dedicated support team, but they can be slow to respond at times. It is best to learn as much as you can about using this EA by first testing it on a demo account. As questions arise, ask them so that you are comfortable using the robot by the time you use it with a cash trading account.
- Infrequent trading – This robot does not trade as frequently as other EAs, which may irritate some users.
- Volatility in the forex market – Volatility in the forex market can have an impact on the success of this robot.
- Significant capital is required for reverse trades – Users must ensure that they have enough capital in their accounts because the GPS robot will require this for reverse trades to be successful.
- Mixed user feedback – Many users have stated that this robot employs the Martingale strategy, despite the fact that the creators of GPS Forex Robot 3 insist that this is not the case.
Martingale is a high-risk strategy that uses cost averaging and doubles the exposure amount on losing trades. The primary risk is unanticipated market volatility.
This can lead to the robot making several losing trades, increasing the size of the trade each time it loses.
If this occurs, your account will be quickly depleted, so you must keep a close eye on market conditions and volatility.
How Can You Verify the Profitability of GPS Forex Robot 3?
GPS Forex Robot 3’s creators invite FX traders to view their trading accounts. Also, the GPS forex robot 3 reviews show that anyone with an investor account login can view live trades in read-only mode.
Accessing this account is the only verifiable way to check the GPS Forex 3 Robot’s profitability.
To view the account, go through the following steps:
- Download and install the FXChoice MT4 trading platform.
- Start MT4, then select File/Log in.
- Enter your login information as follows: Login 77193; Server FXChoice-Classic Live; Investor gpsrobot250 (password for read-only access).
- Select Account History to view a list of all trades made on the account in real-time.
Also, you can check this: 15 Best Paying Jobs in Major Banks | 2022
How to Set up GPS Forex Robot 3 with MT4
GPS Forex Robot 3 is available for purchase and download. Make a note of the location on your computer where you saved it.
Choose and copy the file
Locate the MetaTrader4 folder, which is usually saved to the C: drive.
Copy the GPS Forex Robot 3 files and paste them into the Experts folder. A pop-up window may appear, requesting the administrator password.
Launch your MT4 platform.
Navigate to the Expert Advisors section, which can be found on the left-hand side of the Navigator panel. To expand the list of available EAs, click the plus sign.
Drag GPS Forex Robot 3 onto one of the charts displayed on your MT4 platform.
Remember to change your settings when prompted by the pop-up box. Check that you are satisfied with each setting.
FAQs On GPS Forex Robot 3 Review
Is the GPS Forex Robot 3 compatible with an FTMO challenge account?
Yes. There are no restrictions on the types of robots and strategies that can be used as long as they are legal.
Where can I get a GPS Forex Robot for a one-time fee?
When you buy through the official GPS Forex Robot website, there is a one-time fee of $149 and a 60-day money-back guarantee.
Are the GPS Forex Robot 3 reviews real?
Yes. These reviews are mostly from people who have used the program and have a thing or two to say.
What is the GPS Forex Robot’s accuracy?
According to the GPS Forex Robot, it is up to 98 percent accurate.
Is GPS Forex Robot a profitable investment?
GPS Forex Robot, when used correctly, can be used to create automated trading strategies that can result in higher returns on your trades and investments.
Is GPS Forex Robot a scam?
No. However, you should be aware that some platforms will not allow the use of robots, so always check the policy of your preferred platform before using a robot.
Is it possible to trade GPS Forex Robot on MT4?
Yes, the GPS Forex 3 requires MetaTrader4 or higher.
Signing up for GPS Forex Robot 3 gives you access to a legitimate, profitable EA that can trade automatically.
It will not make you a millionaire overnight, but if used properly, it may allow you to make a reasonable profit over time.
However, in order to do so, you will need to research GPS Forex Robot 3 settings, strategies, and techniques. Unless you have tested it with a demo account, you should never trade with real money.
Use a demo account to learn more about the robot’s features. You can then put it to good use in a live trading environment. According to the GPS forex Robot 3 reviews, this program is a great buy.