In this post I will be reviewing the MQL.me Forex Robot. This is an automated forex trading system (expert advisor) for use on the MetaTrader 4 trading platform. It places and manages trades for you fully automated without you needing to do anything other than take 5 minutes to follow the simple instruction manual and set it up. It is therefore suitable for beginner and advanced traders. There is no minimum account balance required to make trading profits on auto pilot with MQL.me. All you need is the MetaTrader 4 trading platform and a trading account with a forex broker. I highly recommend that you use a true ECN forex broker for the best possible spreads and fast execution.
MQL.me Trading Strategy
The MQL.me forex robot will analyse the forex market for you and place trades when it finds the ideal opportunity. It has a built in money management system and does not use any dangerous martingale, hedging or scalping strategies. The money management system will adjust according to the current market conditions to ensure that it makes as much profit as possible whilst also remaining as low risk as possible. It increases the lot size as the account grows through compounding which can see accounts grow fast when the EA hits a consecutive run of winning trades.
MQL.me Back Testing
There is a back test on the mql.me forex robot website which shows it turning $100 into over $600,000 in just 2 years. The profit factor is >5 and the win rate high around 86%. The draw down is acceptable and the modelling quality 90%. I would like to see how it would perform with tick data and over a longer period of time but we have live results to follow to check it’s most recent performance.
MQL.me Live Results
Overall, this is a very decent automated forex trading system. It is simple to setup and takes all the hard work out of trading for you. It has been making good profits on a real live account verified by MyFxBook with gains of over 200% in just a few months. It does not have a very high frequency of trades which is expected for a system on the 1 hour charts but it does have good consistency for those who prefer slow and steady profits. It comes with licenses, full support, detailed instructions and a money back guarantee.