Amaze is a fully automated Open trading system for the MT5 platform. It claims to identify and exploit the global market vulnerabilities. This FX EA works on multiple currency pairs and uses a fixed SL and TP position for every trade it executes.
With its various settings and features, the MT5 tool assures traders of a safe trading process that is not affected by slippage, spreads, and other influencing factors. To purchase this EA, you need to pay $395.
A rental feature is present which costs $345 for a rental period of 3 months. The vendor also offers a free demo. No money-back guarantee is present, which shows that you can rely on the system to work as promised.
Amaze trading strategy
The vendor does not reveal the trading approach this FX robot uses. Instead, there is mention of the system being an open one for identifying and taking advantage of the global market vulnerabilities. As per the developer, the open system does not use any inbuilt mechanisms or indicators for averaging historical quotes. The absence of strategy explanation and the lack of info related to the strategy makes us suspect the trustworthiness of the EA.
Amaze features
The significant features and recommendations of this MT5 tool include:
- Inbuilt protection against broker slippages, large spreads, gaps, and repeated levels.
- Only one trade per currency pair is allowed
- Users can activate the virtual SL and Trailing Stop or the Grid with fixed stop loss for optional averaging.
- The news filter feature is optional.
- This EA can assess the broker you use and adapt to the delays and slippages that occur.
- Default settings of the system are for the EURUSD pair with the H1 timeframe.
- The ATS does not allow nighttime trading.
- A minimum deposit of $100 and the leverage of 1:500 form part of the vendor recommendation.
- Another broker assistance is in the form of using brokers with zero or minimal spreads and the ping in VPS less than 5 cms.
Amaze backtesting results
A few backtests are posted on the MQL5 site by the developer. Here is the strategy tester report of 100% modeling quality for the EURUSD pair.
From the above report, a total net profit of $282117.87 is present for an initial deposit of $ 2011. A profit factor of 18.78 and profitability of 99.76% are shown for a total of 414 trades. While the profit is considerable, since the test is based on historical data, the performance, although high, cannot be predicted in the future trading approach of the EA.
Amaze live trading results
We could not find live trading results verified by sites like myfxbook, FXBlue, FXStat, etc. However, we found a live trading result of the EA in Debug mode on the MQL5 site.
The stats displayed reveal the growth of 38% for an initial deposit of $1800. A total of 103 trading days, the account which started in July 2021, shows a maximum drawdown of 29.2% and profitability of 88.15. The profit factor is 1.36 and the total number of executed trades is 252. From the results, we can see the drawdown is high when compared to the backtest report. Further, the low values of the profit factor and the high drawdown indicate a risky approach and poor performance.
Amaze reputation
This MT5 tool is developed by Anton Kondratev, a software developer based in Russia. He has two products, 3 signals, and 875 demo versions to his credit. Contacting the developer is via the telegram channel and through the message board on the MQL5 site. The lack of adequate support options raises doubts regarding the reputability of the site.
We found 16 customer reviews for this FX EA. Here are some of the feedbacks from customers:
From the feedback, we can see the EA is giving mixed results and is not profitable. One of the reviews indicates canceled trades and low profits. Looking at the user testimonials we find that our doubts concerning the efficacy of the EA are confirmed.
Amaze review summary
- Strategy –4/10
- Functionality & Features –5/10
- Trading Results –4/10
- Reliability –5/10
- Pricing –4/10
Conclusion
Amaze EA for the MT5 platform claims high profitability with low risks. Our evaluation reveals that this is not a trusted system. With the difference in the backtests and real trading results, lack of transparency concerning the customer support options, and the approach used, we feel that this is not a reputed FX EA. Furthermore, the package is overpriced without a money-back guarantee. In short, we do not recommend this FX robot.
