Amaze Review: Does It Win or Lose?

Amaze EA has multiple built-in settings such as protection against broker slippages, large spreads, gaps, and repeated levels to help avoid poor trading conditions. Traders have the option to set their own custom settings to tweak the performance of the system. We will go through its historical data, live records, company profile, price, and customer reviews to gain more information on the EA’s compatibility, performance, and transparency.

What is Amaze?

The algorithm uses the H1 time frame for trading on the EURUSD currency pair and supports additional symbols such as AUDUSD, GBPUSD, and USDJPY. It requires a minimum deposit of $100 and a leverage of 1:500.

Features 

The expert advisor comes with the following key characteristics:

• A free demo is available. 
• The algorithm allows trading on multiple currency pairs including EURUSD, AUDUSD, GBPUSD, and USDJPY.
• It comes with numerous adjustable settings. 
• The system has a built-in protection feature.
• Ability to turn averaging on or off.
• Optimization mode is available.
• Does not use risky strategies such as martingale.

Vendor info

Anton Kondratev is the developer of Amaze and other multiple robots, as seen on his profile on the MQL5 website. He is from Russia and holds skills in computer languages such as C++, Java, etc. The author has an overall rating of 4 based on 35 feedback on MQL5.

How can we use Amaze? 

Users must follow the following steps to set up the system:

1. Click on the ‘buy’ option available on the MQL5 website 
2. Login to MetaTrader 4 or MetaTrader 5 platform 
3. Take the algorithm to the expert directory and reload the panel
4. Connect the robot with the chart, and you are good to go

Pricing & refund

The algorithm is available for an asking price of $345 on the MQL5 marketplace. The author provides no information on the product’s refund policy.

Trading strategy

According to the developer, the robot uses a fixed stop loss and take profit for every execution to determine the maximum allowable drawdown. It does not use the grid, martingale, arbitrage, and risky strategies. The MQL 5 records dictate that there is some sort of averaging involved with the implementation of virtual exits for trades.

Backtests analysis

The robot backtesting records for EURUSD are available in an image form. The stat showed that the initial deposit was $2011.00, where the system managed a total net profit of $282117.87. The robot conducted 414 trades, resulting in a win rate of 99.76%, which is quite high and suspicious. For this backtest, the profit and recovery factors were 18.78 and 9.46, respectively.

Current performance

The live records on the MQL5 website are present for a short duration from March 2022 till the current. After placing 66 trades, the robot had a win rate of 89.39%. The initial deposit was $136, resulting in a profit of $46.19. From the stats, we observed the account had a monthly growth of 4.47% with a profit factor of 1.57. The high win rate is because the system is implementing averaging strategy, which only closes trades when they are in a certain profit.

What customers say 

The bot has a rating of 3.86 for 23 total reviews on the MQL5 website. One trader commented that he faced two significant-stop losses in 1 day, and the backtest did not show the same results as in real conditions.

Another user states that the algorithm is not good enough, making him lose four trades in a single week.