Medusa X is developed by Oan Kar Lee, who declares himself as a Quant with +15 years of experience. The robot doesn’t use martingale and has grid implementation to profit in all situations. The developer makes a lot of claims on the website to convince newbies to purchase his system. Our Medusa X review will cover all the positive and negative outputs of the robot and declare if it is profitable or not.
The robot is available for $399. Traders can also rent it out for $80 for a single month. A three-month rent comes at a discounted price of $150. There is no money-back guarantee.
Medusa X Trading Strategy
The robot will be added to your MetaTrader experts tab once you purchase and log in at the MQL5 community with the trading software. Enable auto trade and place it on the designated charts to begin trading.
The developer states that the expert advisor is strict with the mathematical and statistical methods and uses the pullback algorithm to capitalize on the markets. It only works on major pairs with low spread, such as GBPUSD and USDCHF, at the hourly chart.
The trading history on MQL 5 shows that the robot uses grid strategies to profit and opens trades at the start of the H1 candle.
Medusa X Features
Medusa X has the following features:
- Backtested with real data with 99.99% accuracy
- Stress-free and easy to use
- Works on ECN brokers with a minimum account balance of $500
- Real account results are monitored on MQL5
Medusa X Backtesting Results
BAcktesting results are available for USDCHF, GBPUSD, and USDJPY. The developer changes the duration from 5 to 4 to 1 year, which is suspicious. The EA likely results in margin call over a longer period. The algorithm has a high drawdown in all the results, which wipes off nearly half of the initial account value. The average win rate stands around 85%, with a profit factor of 2. BAcktesting quality is 99.9%.
Medusa X Live Trading Results
Live trading statistics are available on the signals platform at the MQL5 marketplace. The robot had a maximum drawdown of 39.3%, which means that it loses nearly half of the account value during trading. With an initial deposit of $500, the robot’s gain has grown up to 107.75%. It uses the Singaporean dollar as a trading currency. The average loss is -6.85, while the win is 1.06 SGD.
We can deduce the following useful observations from the service:
- Profit factor and win rate. The profit factor is 2.6, with a win percentage of 94.37%. This is above the required mark to stay profitable.
- Deposit and withdrawals. The trader does not make any withdrawals during the trading period for a deposit of $500. The average holding time is 20 hours for any position.
Medusa X Reputation
The developer resides in Singapore and has an average rating of 4.8 for 78 reviews on the MQL 5 community. He claims to have more than 15 years of experience in trading. The developer has published ten expert advisors and had 25 signals.
Customer reviews are only available on the MQL5 platform. Most of the reviews are positive and look as if the developer himself has written them.
Medusa X Review Summary
- Strategy – 3/10
- Functionality and features – 3/10
- Trading results – 3/10
- Reliability – 4/10
- Pricing – 4/10
Conclusion
Medusa X uses a high-risk strategy known as grid, which can turn your account into dust at any moment. Severe trends render such robots useless. Therefore the expert advisor is not a good investment
There are many robots in the market that use high-risk approaches to profit. These experts are not good for the long run. Medusa X takes its place amongst them.
