Gold M Stops is an expert advisor that boasts complete automation in its trading. This MT5 compatible FX EA works on the USDCAD, AUDUSD, and XAUUSD pairs. As per the developer, it can be optimized to work on other FX pairs. It uses market time and breakthrough price levels for its trading approach.
The price of this FX robot on the MQL5 site is $450. A rental package is present costing $75 per month. No details are present concerning the features available with the package. We could not find a money-back assurance which makes us suspect this is an unreliable product.
When compared to the price of other similar FX EAs in the market, the cost of this product is expensive. Furthermore, the quoted price is a launch offer and the original price is $600, as per the developer. We do not find the price is worth it.
GOLD M STOPS trading strategy
According to the developer, this FX robot uses breakthrough price levels and Market Time for identifying profitable trades. It calculates every entry point using an advanced input filter. The filter works by assessing the price movement. We could not find further details on the trading approach. We find the explanation offered is insufficient to know the efficacy of the approach.
GOLD M STOPS features
This MT5 trading tool is claimed to be ideal for newbie and seasoned traders. The features include protection from high spreads and it allows the use of fixed lot size or an automatic lot size. Other features include SL and trailing SL, two special trailing SL, a great recovery system, maximum spread input, and spread protection. As per the developer, the system is easy to install and use and it works well even during unexpected market events.
For the requirements, the developer recommends the use of a hedging account and a minimum balance of $800 for the Gold Power strategy and $200 for the AUDUSD strategy. The M5 timeframe is recommended and for the XAUUSD, the developer recommends the use of default settings. Other suggestions include the use of low latency VPS and raw spread accounts.
GOLD M STOPS backtesting results
No backtesting results are present for this FX EA. Strategy tester reports help to understand the trading approach and its effectiveness. Even if the tests use historical data and cannot predict similar results in real-time performance, traders find the backtests a vital tool to assess the reliability of a system. The absence of backtesting results raises a red flag for this EA.
GOLD M STOPS live trading results
The developer provides a few trading results for this EA on the MQL5 site. Here is one of the trading results for a demo account using the GP Strategy Standard.
From the above stats, we can see the account started on September 23, 2021, shows a growth of 2.63%. The total deposits for the account include an initial deposit of $1000 and further deposits of $8000. For a total of 32 trading days, the account reveals a profit of $18,754.72 and a maximum drawdown of 38.5%. Profitability for the system is 82.2% and the profit factor is 6.63. Although the profitability looks good, the high drawdown indicates a risky trading approach. Further, only a small sample is present so the profits found may not be consistent.
GOLD M STOPS reputation
Noorullah Aimaq is the developer of this MT5 tool. The developer is based in Afghanistan and is the CEO of Topco Finance. He has developed 13 products and 5 signals. Other products by him are Saitama, Topco, Hunter X, and Nitro Gold. The private messaging option on the MQL5 site is the only method to contact the developer. We could not find details like location address, phone number, etc. which makes us suspect the reliability of the vendor.
Feedback from users is not present on reputed sites like Forexpeacearmy, Trustpilot, etc. A few reviews are present on the MQL5 site. But since the site promotes the product, the chances of the reviews being manipulated are high. The lack of reviews reveals this is not a popular FX EA.
GOLD M STOPS review summary
- Strategy –4/10
- Functionality & Features – 4/10
- Trading Results –3/10
- Reliability –4/10
- Pricing –4/10
Our analysis of the features, functionality, trading approach, performance, support, and other characteristics of this FX EA reveals this is not a trustworthy EA. The inadequate strategy explanation, lack of backtesting results, and high drawdown in the demo results indicated the unreliability of this FX robot. Furthermore, the expensive price and inadequate support also confirm our evaluation.
