GOLD M STOPS is a fully automated Forex trading robot that is compatible with multiple currency pairs. It was launched on 18th September 2021, which means it is a newcomer to the Forex market. According to the vendor, the EA is suitable for both beginners and experienced traders.
There are multiple rental options available for this robot and you can optimize it for multiple pairs. However, we have little information on the vendor. There are no verified trading accounts on third-party websites, which makes it difficult to analyze the system’s profitability. Also, the vendor offers it at a very high price. Overall, it does not look like a trustworthy expert advisor.
What is GOLD M STOPS?
This EA uses stop loss and trailing stop loss with each trade. It has a recovery system, along with spread protection and a maximum spread input. GOLD M STOPS is designed to trade in pairs like XAUUSD, AUDUSD, USDCAD, EURUSD, GBPUSD, and AUDCAD. The vendor recommends using the M5 timeframe for this robot. For the Gold Power strategy, you can use a minimum balance of $800. The starting balance for the AUDUSD strategy is $200.
Official GOLD M STOPS website
After providing a short introduction to the system, the vendor has listed the requirements and features. We have a long list of EA parameters and their descriptions. There are also some screenshots of the live trading account. The vendor has shared the live monitoring links for different strategies as well as the pricing details.
GOLD M STOPS is sold by a person called Noorullah Aimaq who is based in Afghanistan. They claim to be the CEO of Topco Finance, but we don’t know if this is a legitimate company. There is no background information available for the developer and the people they work with. Other systems from this vendor include Tondar, Big Score, HunterX, Topco, Saitama, Star Bot, Paeez, Nitro Gold, and Fire Power. There is a clear lack of vendor transparency and we don’t have high expectations from this EA.
How can we use GOLD M STOPS?
GOLD M STOPS lets you trade with automatic or fixed lot size. The vendor recommends using a hedging account for best results. Also, you should use a raw spread account and a VPS with low latency. You can only run this EA on the Metatrader 5 trading platform.
Pricing & refund
This robot carries a hefty price tag of $600. Compared to other systems, it is quite expensive. The vendor claims there is only one copy left at this price and that afterward the price will be increased to $750. There are several rental options available and you can download a demo version to test the performance. However, the vendor does not offer a money-back guarantee.
The strategy used by this robot is based on breaking through price levels and market time. It calculates each entry point using an advanced input filter that is based on price analysis. The vendor has not explained the details of the strategy properly, which is quite disappointing.
There are no live trading accounts for this EA on independent websites. The authenticity of the live monitoring account on MQL5 is questionable. This account has a trading history of 51 days. After conducting 544 trades, the win rate currently stands at 82.53%.
GOLD M STOPS has generated $19508.48 through this account. Considering the short trading history, the profit amount seems unrealistic. The profit factor for this account is 6.54 and the maximum drawdown is 38.5%. To date, the EA has made 49 maximum consecutive wins and 16 maximum consecutive losses.
What customers say
At this moment, there are no verified user reviews for this expert advisor on the reputable third-party websites like Quora, FPA or Trustpilot. Clearly, it does not possess a stellar reputation in the Forex trading community. The reviews on MQL5 seem to have been manufactured by the vendor.
Summary: is GOLD M STOPS a trustworthy EA?GOLD M STOPS
Trading Results1/5 Awfully
- Multiple currency pairs supported
- Verified trading results not available
- No money-back guarantee
- Lack of strategy insight