Autopip EA Gold is an FX robot that uses an aggressive approach for providing profitable trades. It is a fully automated system with an integrated news filter and a drawdown reducing algorithm for efficient trading. As per the developer, the exit approach of this EA helps to safeguard your profits in the event of a change in the trend. Published in August 2021 on the MQL5 site, this MT4 tool boasts real backtesting info and real trading results that reveal better performance due to the addition of a news filter.
How Autopip EA Gold works
Neill Thomas Campbell Forbes is the developer of this EA. He is a software developer based in the United Kingdom and has developed three products and 12 signals. He has been developing trading systems for a few years. There is no location address or phone number present for support. A telegram channel link and the messaging option via the MQL5 site are the support methods present for this EA.
The developer does not reveal much info on the features, functionality, and other aspects of this expert advisor. From the minimal details present, the system is a fully automated software that has manual tools integrated for controlling the expert advisor. A news indicator is added to the FX EA. The FX robot works on the XAUUSD, EURUSD, and XAUAUD pairs by default using the M15 timeframe. We could not find recommendations like the minimum recommended balance, leverage, and other related details.
Other than the mention of the strategy being aggressive, the developer does not reveal info on the approach used. The lack of explanation of the approach raises a red flag for this EA. However, the developer provides a backtesting report on the MQL5 site. Here is a screenshot of the strategy tester report.
From the above report, we can see that the backtest was done from 2016 to 2021 on the XAUUSD pair using the M15 timeframe. A 99.9% modeling quality was used for the test. For an initial deposit of $1000, the total net profit generated was 13619 with a profitability of 67.86% and a profit factor value of 1.49. A maximum drawdown of 13.40% was present for the account for a total of 9526 trades. From the results, we find that the profits are low despite the low drawdown indicating a risky approach.
Autopip EA Gold trading results
A live signal of this FX EA is present on the MQL5 site. Here is a screenshot of the real USD account.
From the above results, we can see the account reveals the growth of 81.04%. For an initial deposit of $1000, the account has generated a profit of $810.36 and a drawdown of 50.4% for a total of 49 trading days. Profitability of 70% and a profit factor of 1.69 are present for the account. From the high drawdown and low profits, we can see that the system uses a high-risk approach which is also seen in the backtesting results.
Pricing & refund
To purchase this FX EA, you need to pay $100. A rental option of $40 per month is also present. The developer mentions that the price will increase to $150 when the growth of the signal reaches 100%. There is no mention of the features available with the package. We could not find a refund offer which makes us suspect this is not a reliable EA.
We could not find user reviews for this FX EA on reputed sites like Forexpeacearmy, Trustpilot, etc. While the MQL5 site has reviews from users, since the site promotes the EA, the chances of manipulation are high. The lack of feedback reveals this is not a popular expert advisor in the market.