Launched on 18th September 2021, GOLD M STOPS is a fully automated EA that can trade in multiple currency pairs. According to the author, this system is well-suited for both beginners and expert traders. However, to determine whether this robot is profitable or not, we need to analyze the live performance, along with some other factors.
On the MQL5 product page for GOLD M STOPS, the vendor has explained in brief how the system functions. We have a few lists outlining the EA parameters, requirements, and features. The vendor has also shared some links to live trading signals as well as the pricing details. Overall, the presentation is not too detailed and leaves a lot to be desired.
The developer behind GOLD M STOPS is Noorullah Aimaq, a developer based in Afghanistan. On their MQL5 profile, it says that they are the CEO of Topco Finance. However, we have no background information on this company or the developer. The lack of vendor transparency is quite disappointing. Other EAs built by this person include Paeez, Nitro Gold, Fire Power, Star Bot, Tondar, Big Score, HunterX, Saitama, and Topco. Looking at the unprofessional presentation and the death of information, our expectations from this system are quite low.
Currently, you can purchase this robot at the price of $600, which is a hefty price tag for a newly-launched robot. You can get reliable robots on the market at half this price. There is a rental option for this EA where you can use the robot for a month in exchange for $75. You can download a free demo version of the system for testing purposes. Unfortunately, the vendor does not offer a money-back guarantee.
|Currency Pairs||XAUUSD, AUDUSD, USDCAD, EURUSD, GBPUSD, AUDCAD|
|Recommended Min. Deposit||$200|
GOLD M STOP works on XAUUSD, AUDUSD, USDCAD, EURUSD, GBPUSD, and AUDCAD, you can optimize it for other pairs as well. You need a hedging account to run this EA. The minimum deposits for the Gold Power and AUD/USD strategy are $800 and $200, respectively, but you can also use cent accounts. You should load this EA on M5 charts.
The vendor recommends using a low latency VPS and raw spread accounts for this EA. It uses risk-management measures like trailing stop-loss and stop-loss and has a spread protection system. Since the vendor has not explained how this protection system works, we cannot determine its effectiveness.
From the EA parameters, you can change the fixed order size, the stop loss and take profit per point, the maximum spread, and the balance and equity for each 0.01 lot. As such, you can trade with both automatic and fixed lot size.
The vendor has explained the strategy in a vague manner. They have mentioned that the strategy is based on breaking through price levels and market time. The robot uses an input filter after analyzing the price movement on the chart, but we don’t know how this filter works. Due to the lack of strategy insight, many traders might not feel too confident about investing in this system.
Unfortunately, the vendor has not shared the verified trading results for this expert advisor. Seasoned traders always look for trading statistics that are verified by third-party websites. The vendor has no chance of manipulating these results, so you get to see the actual performance of the robot.
We have a trading account on MQL5 that has a trading history of 30 days. Because of the short trading history, it is difficult for us to accurately analyze the profitability of the EA. To date, GOLD M STOPS has placed 69 trades through this account, and its win rate is currently 84.05%.
There are no backtesting results for GOLD M STOPS. The vendor clearly doesn’t want to reveal the historical performance of this system. This is not a sign of a reliable expert advisor.
We were unable to find any user reviews for this EA on websites like Trustpilot, Quora, Myfxbook, and Forexpeacearmy. We cannot possibly trust the reviews posted on the MQL5 website, since the vendor could have manufactured them.