In this post I will be reviewing the Maxturbo EA (expert advisor) which is a fully automated forex trading system that has been developed for the ever popular MetaTrader 4 (MT4) trading platform which is used by millions of traders all over the globe and free to download from most online forex brokers.
It is worth noting that you will need the desktop version of MT4 in order to run a forex robot such as Maxturbo EA rather than the mobile MT4 app. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
I always prefer to use an ECN forex broker for the best possible trading conditions which includes low spreads, competitive commissions, minimal slippage and good trade execution speeds.
Maxturbo EA Trading Strategy
The Maxturbo EA is a set and forget trading system. You can simply follow the provided instructions to place the forex robot on your charts in MT4. It can then analyse the markets for potential trading opportunities using its built-in algorithm. It will then place and manage trades on your behalf depending on the lot size that you specify from within the EA’s parameters.
Maxturbo EA is equipped with several indicator sets, which helps it try to detect when the market may reverse. The strategies implemented by this particular forex robot just use default MT4 technical indicators. This means that the EA may not be taking into consideration fundamental factors which can have a huge impact on the market movements. A built-in news filter would have helped to tackle this issue and help the EA to avoid especially volatile market conditions.
The Maxturbo EA trades primarily on the EURUSD, EURCHF and EURGBP currency pairs. The more experienced traders amongst you may wish to experiment with optimising in the MT4 strategy tester for other currency pairs to create your own bespoke settings for the EA. If you do decide to do that, it would be a wise idea to implement Birts Tick Data Suite (TDS) into the strategy tester for 99% modelling quality back tests.
Maxturbo EA Back Testing
Unfortunately, there are no back tests on the Maxturbo EA official website. These would have been beneficial for us to get a rough idea of how the Maxturbo EA could have performed historically.
Maxturbo EA Live Results
Maxturbo EA Summary
Overall, I would personally avoid using this particular forex robot. I find that it is too risky for my personal taste. I have conducted many forex robot reviews and there are alternative options that I would prefer over this EA. It does however come with instructions, full support and a money back guarantee.