In this post I will be reviewing the MFM7 Forex Robot. This is a fully automated forex trading system for the MetaTrader 4 trading platform developed by a guy named Matthew who claims his forex robot can make around 50%+ gains every month with low draw downs. Now, these claims are usually taken with a pinch of salt but credit where it is due as Matthew has published live verified by MyFxBook real trading results on the MFM7 website showing a total gains greater than 500% at the time of writing this review. Very impressive although the average monthly gain is around 11%, those are still fantastic return for a forex robot that does all your trading for you.
MFM7 Trading Strategy
The MFM7 Forex Robot does not use any dangerous martingale, hedging or grid strategy so is low risk. It has 2 forex trading systems coded inside that can have up to 2 trades open at a time on each pair traded. Interestingly it can trade any forex currency pairs which show the accuracy and consistency of the trading systems used and also concludes that it is adaptable to varying market behaviours. In addition to the live verified real account results there is also a page on the website dedicated to back testing MFM7 which help to confirm somewhat that it has been successful over a sustained period of time. Other fantastic features of the MFM7 Forex Robot include settings being automatically updated from the server in real time to ensure it is up to date and it can switch itself off when there are impending major news releases. It is recommended to use an ECN forex broker that is regulated – which you should do anyway. I believe that it only trades in one direction on each pair (long or short) unless this has been changed by the developer.
MFM7 Back Testing
There are no less than 20 back tests on the website showing good profitable gains over 5 years periods with a high frequency of trading activity and relatively low draw downs. The profit factor is also high although the modelling quality is 90%. The developer has made an effort to change the spread in back testing depending on the currency pair to try and be more realistic with the testing but I feel they are still at least a few pips short on most pairs. That being said, you can choose to trade the pairs with the lowest spreads such has the majors.
MFM7 Live Results
The MFM7 Forex Robot is suitable for anyone with no prior trading experience or knowledge of MetaTrader 4 required. You simply download the MFM7 robot and follow the easy to understand instructions and you will have it setup in minutes. It comes with full support a live account that you can follow should you wish to verify your trades. You can get started with a small trading account and start making profits on auto-pilot from the moment you download and setup the MFM7 Forex Robot.