Amaze is an MT5 tool that works on multiple currency pairs. This EA is a fully automated open system capable of identifying and leveraging opportunities the market provides. As per the developer, all trades have fixed SL and TP levels. Founded by Anton Kondratev, this FX EA works mainly on the EURUSD pair. Kondratev is a software developer skilled in C++, .Net SQL, and more. He is from Russia and has two other products, 684 demo versions, 3 signals, and 12 subscribers to his credit.
How Amaze Robot Works
The expert advisors promoted by the MQL5 site provide as little info as possible when it comes to expounding the features of the EAs here. This is true for this MT5 tool. Furthermore, we could not find info on the company or their location number and phone contact. Customer support options are also not present which makes the system unreliable.
As an automated software for trading, this FX robot uses only on trade for a single currency pair. Protection is inbuilt for issues such as broker slippages, large spreads, repeated levels, and gaps. The developer mentions that only a single trade can be used for a single currency pair. Other settings that the developer mentions include optional activation of the VS and TP levels.
Users can activate the Grid using fixed SL and do optional averaging. Recommendations include a minimum deposit of $100 using the leverage of 1:500 and ICMarkets broker or brokers with minimal spread or no spreads.
Applied Strategies
While the developer does not mention the strategy used, there is info about the EA being an open system where changes in the settings influence the trading. Either buy or sell transactions can be used. The developer claims that since it is an open system all changes in the settings affect the trading outcome.
A few backtesting results are posted on the MQL5 site. Here is a screenshot of the strategy report:
From the above image, we can see the history is of 100% quality and shows a healthy profit of 282117.87 and a profit factor of 18.78. For a total of 414 trades, 710 deals have been completed with the drawdown for balance showing 0.65%, while the equity drawdown indicates 20.96%. While the profits look good, we do believe that the stats are not predictive of a similar performance in the live trading scenario. The developer also provides a 7-year backtest posted on the Myfxbook site. Here is a screenshot of the test:
The above test stats reveal a profit of 331.69M% for a deposit of $50. For the test done from 2015 up to May 2021, using the H1 timeframe the drawdown is 33.64%. From the two backtesting results, we can see the high drawdown values which indicate an ineffective approach.
Amaze Trading Results
No verified trading account is present for this FX EA. There are a few trading performance images posted by the developer on the site. As you can see from the image below the results do not reveal important information needed for assessing the performance of the EA.
The lack of verified results from sites like myfxbook, FXBlue, and FXStat show that this is not a reliable system. With verified results, we can know about genuine info of the EA. This will help in knowing about important trading details like the performance, lot size, and more.
Pricing & Refund
As an ATS, this FX robot costs $299. A rental option is available for 3 months costing 245. The vendor also offers a three-month rental package and a free demo. There is no mention of a money-back guarantee which is disappointing. This indicates the system is not reliable. Further, compared to other competitor FX robots, the price is expensive and not worth it.
Other Notes
We did not find user reviews for this FX EA on sites like Forexpeacearmy, Trustpilot, etc. However, the MQL5 site has 12 user responses for this ATS. Here are a few of them.
From the reviews, we can see that there are big stop losses and the users mention that the backtest did not reveal a similar result. It is clear that the system is using a high-risk approach which is resulting in big losses.
