Metatrader expert advisors dissected.
Expert Advisor Top – Compare Live Forward Performance
This page is meant to help everyone find and follow the live results of the best Forex robot that suits their trading style. The performances are analyzed and indexed in a way that permits the best trading system to make it to the top of the chart in a reasonable length of time – please see the details below the table for more information. All expert advisors on this page are running on live accounts.
| System | Weeks in test | Total gain | Closed pips | Monthly return | Risk reward ratio | Winning trades | Max closed drawdown | Max drawdown (incl. floating) | Max floating drawdown pips | Average trades per day | Profit factor | Birt's index | Balance chart |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Million Dollar Pips EURUSD | 28 | 429.48% | 2351.5 | 28.09% | 0.68:1 | 56.42% | 15.07% | 15.07% | 78.8 | 6.17 | 1.92 | 3.62 |  |
| Fast Forex Millions | 4 | 17.95% | 709.7 | 15.70% | 0.58:1 | 43.12% | 6.09% | 6.09% | 101.4 | 9.08 | 1.30 | 2.76 |  |
| Oddbot | 16 | 21.48% | 391.4 | 5.21% | 2.86:1 | 84.82% | 8.50% | 8.50% | 128.9 | 1.35 | 1.95 | 1.50 |  |
| Forex Flow | 13 | 16.18% | 467.0 | 4.80% | 0.45:1 | 58.55% | 1.96% | 7.36% | 279.7 | 2.24 | 3.12 | 1.37 |  |
| Kangaroo - PFX | 5 | 4.90% | 101.5 | 3.96% | 0.95:1 | 77.78% | 2.90% | 3.98% | 77.6 | 0.33 | 3.66 | 1.02 |  |
| Forex Growth Bot | 58 | 53.07% | 2684.0 | 3.17% | 0.56:1 | 40.59% | 23.10% | 23.10% | 266.0 | 1.87 | 1.22 | 0.86 |  |
| Smart FX Master Scalper | 16 | 17.57% | 1624.1 | 4.28% | 2.86:1 | 78.79% | 10.48% | 10.48% | 234.1 | 9.94 | 1.30 | 0.67 |  |
| Forex Combo System EURUSD | 74 | 31.05% | 1486.0 | 1.56% | 1.27:1 | 58.75% | 17.25% | 17.25% | 136.0 | 1.54 | 1.13 | 0.66 |  |
| Forex Combo System | 26 | 15.53% | 1082.5 | 2.37% | 1.24:1 | 58.91% | 12.51% | 12.51% | 151.7 | 2.62 | 1.16 | 0.65 |  |
| Wallstreet Forex Robot | 47 | 23.95% | 870.2 | 1.97% | 2.67:1 | 75.26% | 16.92% | 16.92% | 263.4 | 2.81 | 1.14 | 0.63 |  |
| Magic Champ II | 9 | 6.60% | 170.6 | 2.99% | 4.28:1 | 80.56% | 5.99% | 5.99% | 49.8 | 0.77 | 0.97 | 0.61 |  |
| ParaSwing | 21 | 9.27% | 517.6 | 1.80% | 1.11:1 | 57.95% | 8.10% | 8.10% | 77.0 | 0.82 | 1.24 | 0.61 |  |
| Interbank Trade Advisor | 6 | 9.85% | 858.4 | 6.78% | 0.63:1 | 43.84% | 17.35% | 17.35% | 262.4 | 8.90 | 1.23 | 0.52 |  |
| Smart FX Breakout Hunter | 16 | 6.47% | 401.1 | 1.64% | 1.88:1 | 73.53% | 9.66% | 9.66% | 214.2 | 0.41 | 1.48 | 0.50 |  |
| Hyper EA | 10 | 2.07% | 26.7 | 0.86% | 0.42:1 | 83.33% | 0.27% | 0.93% | 9.4 | 0.12 | 11.80 | 0.41 |  |
| PhiBase Pro | 1 | 1.51% | 75.9 | 5.81% | 0.00:1 | 100.00% | 0.00% | 1.63% | 81.6 | 0.17 | - | 0.40 |  |
| Forex Winning Solution | 16 | 1.63% | 476.3 | 0.43% | 2.71:1 | 77.78% | 1.16% | 1.16% | 139.4 | 0.89 | 1.29 | 0.32 |  |
| MyFXDuplicate | 12 | 14.54% | 446.0 | 4.74% | 0.60:1 | 41.34% | 36.00% | 38.35% | 878.5 | 4.03 | 1.18 | 0.26 |  |
| WindFall | 37 | 11.67% | 291.3 | 1.25% | 2.94:1 | 76.64% | 11.58% | 11.58% | 127.2 | 1.28 | 1.12 | 0.24 |  |
| Forex Gale | 21 | 48.88% | 12235.4 | 8.34% | 1.45:1 | 61.72% | 58.12% | 68.72% | 15212.4 | 17.94 | 1.11 | 0.21 |  |
| Euro Smarter | 28 | 4.79% | 174.2 | 0.71% | 1.67:1 | 65.22% | 9.20% | 9.20% | 167.3 | 0.48 | 1.12 | 0.15 |  |
| FX Speed Trader | 26 | 7.15% | 321.3 | 1.12% | 1.67:1 | 68.05% | 27.16% | 27.16% | 66.8 | 4.52 | 1.27 | 0.09 |  |
| Forex Gold Trader v4 | 16 | 12.73% | 4000.0 | 3.15% | 0.00:1 | 100.00% | 11.00% | 43.45% | 14162.2 | 0.24 | - | 0.09 |  |
| Forex EAs Trend Scalper | 12 | 2.05% | 165.6 | 0.68% | 2.55:1 | 75.34% | 10.33% | 10.33% | 180.0 | 2.28 | 1.20 | 0.09 |  |
| KangarooEA | 64 | 12.81% | 453.0 | 0.81% | 1.71:1 | 64.69% | 46.96% | 46.96% | 360.0 | 1.05 | 1.07 | 0.09 |  |
| Million Dollar Pips GBPUSD | 17 | 1.67% | 76.4 | 0.41% | 0.78:1 | 48.19% | 10.47% | 10.47% | 100.7 | 0.94 | 1.20 | 0.08 |  |
| IrisFX | 28 | 2.69% | 426.1 | 0.40% | 7.02:1 | 89.40% | 7.19% | 7.19% | 81.2 | 5.21 | 1.20 | 0.04 |  |
| Forex Real Profit EA | 51 | 12.71% | 264.8 | 0.93% | 1.76:1 | 67.23% | 14.64% | 14.64% | 172.9 | 2.98 | 1.16 | 0.03 |  |
| Forex Shocker | 21 | 1.01% | 125.5 | 0.20% | 6.83:1 | 89.93% | 2.34% | 2.34% | 52.6 | 1.39 | 1.31 | -0.10 |  |
| EuroRise | 58 | 1.98% | 38.0 | 0.14% | 1.65:1 | 62.59% | 16.40% | 16.40% | 46.0 | 0.47 | 1.02 | -0.16 |  |
| Forex Megadroid | 1 | -0.64% | -15.5 | -1.74% | 7.65:1 | 83.33% | 1.51% | 2.29% | 57.2 | 0.75 | 0.65 | -0.27 |  |
| Steady Growth | 28 | 0.06% | 107.7 | 0.01% | 0.57:1 | 37.97% | 1.49% | 1.49% | 148.8 | 0.55 | 1.07 | -0.28 |  |
| Forex Combo System GBPUSD | 49 | -3.15% | -39.0 | -0.28% | 1.65:1 | 61.58% | 24.23% | 24.23% | 260.0 | 0.82 | 0.97 | -0.61 |  |
| Silver EA | 23 | -2.22% | 110.1 | -0.41% | 2.08:1 | 71.23% | 11.59% | 11.59% | 107.4 | 2.42 | 1.19 | -0.96 |  |
| Two Percent Daily | 16 | -3.10% | 307.9 | -0.82% | 6.26:1 | 84.96% | 10.17% | 10.18% | 298.8 | 1.36 | 0.90 | -0.97 |  |
| FAP Turbo | 1 | -2.45% | -43.6 | -6.55% | 3.16:1 | 71.43% | 5.67% | 5.67% | 114.9 | 7.00 | 0.79 | -1.09 |  |
| Forex Cleaner | 17 | -4.51% | -151.9 | -1.13% | 5.22:1 | 81.58% | 10.08% | 10.08% | 136.9 | 0.86 | 0.85 | -1.25 |  |
| Forex Trend Hunter | 16 | -7.07% | 36.2 | -1.91% | 0.72:1 | 40.00% | 44.59% | 44.59% | 285.4 | 0.85 | 0.93 | -2.07 |  |
| Harvester 2 | 51 | -29.16% | -615.0 | -2.80% | 1.39:1 | 44.44% | 31.72% | 31.72% | 197.0 | 0.42 | 0.57 | -3.35 |  |
| PipRider | 34 | -22.52% | -431.0 | -3.08% | 2.55:1 | 65.20% | 30.48% | 30.48% | 104.0 | 1.17 | 0.73 | -3.40 |  |
| FX Smart Invest | 11 | -11.47% | -59.3 | -4.52% | 1.86:1 | 58.06% | 13.34% | 13.34% | 113.7 | 2.72 | 0.74 | -3.89 |  |
| QuantumFX Bot | 28 | -28.04% | -133.5 | -4.77% | 1.79:1 | 61.27% | 43.50% | 43.50% | 56.1 | 2.19 | 0.88 | -5.05 |  |
| Genial Invest | 12 | -17.56% | -6285.4 | -2.87% | 2.53:1 | 55.21% | 23.08% | 23.08% | 7803.2 | 1.57 | 0.49 | -5.95 |  |
| Forex Morning Trade | 47 | -46.83% | -1372.0 | -5.53% | 0.71:1 | 27.71% | 48.53% | 48.53% | 55.0 | 0.70 | 0.54 | -6.12 |  |
| Orange Forex Robot | 14 | -31.55% | 12.8 | -10.27% | 11.75:1 | 91.91% | 41.94% | 41.94% | 104.0 | 9.89 | 0.97 | -9.33 |  |
| Million Dollar Pips USDJPY | 17 | -45.06% | -488.0 | -13.70% | 1.27:1 | 30.56% | 47.56% | 47.56% | 115.4 | 1.23 | 0.35 | -27.61 |  |
| Forex Gold Trader v3 | 12 | -76.93% | 0.0 | -19.84% | 1.00:1 | 0.00% | 87.19% | 97.77% | 76394.7 | 0.00 | - | -66.53 |  |
Brief description of the column headings
- Weeks in test – self explanatory.
- Total gain – the total amount gained calculated in relation to the sum of the deposits (in most cases, it’ll be just the initial deposit).
- Closed pips – the total number of pips realized by all the trades that were closed. Please note that this does not include the number of floating pips that might be the result of any open trades.
- Monthly return – the monthly return figure calculated by Myfxbook.
- Risk reward ratio – calculated by dividing the average losing trade by the average winning trade.
- Winning trades – the percent of trades with a positive outcome.
- Max closed drawdown – the maximum “realized” drawdown, meaning the largest drawdown ever encountered during the account lifetime. Please note that this does not take equity into account, so “unrealized” drawdowns from floating profits are not taken into account here. Basically, it’s the drawdown calculated by Myfxbook as the largest difference between a balance peak and the lowest following bottom.
- Max drawdown (incl. floating) – unlike the closed drawdown above, this also includes floating (unrealized) drawdowns so in some cases it will be larger than its counterpart, especially for grid, martingale and hold-and-pray EAs.
- Max floating drawdown pips – the maximum recorded value of floating negative profit, in pips.
- Average trades per day – the number of average trades per day. Naturally, the calculation only includes trading days, the weekends are excluded.
- Profit factor – the sum of all positive trades divided by the sum of all negative trades. A profit factor below 1 means the system is not currently profitable which should also be easily visible from the other stats.
- Birt’s index – a performance index of my own based on a Sortino Ratio calculated on a weekly period, but also factoring the system lifetime and the floating drawdown. More details about its calculation are available. Please note that it’s a work in progress and it’s likely to change as time passes and its potential flaws are observed.
- Balance chart – this one is pretty obvious.
Update frequency
The system details are updated about once every 30 minutes. The balance chart images and the Birt’s index figures are updated 4 times per day.
General info
This page is designed to continuously grow and list a wide array of expert advisors together with signal services. There are no limitations to the systems that will make it here. Even if an EA is on my No Review List it might still show up here. I recommend doing your due diligence before purchasing any systems that have not been fully reviewed.
As a general rule, I will stop systems that reach a drawdown in excess of 50% but I might make exceptions and stop them earlier or later depending on other factors.
To have an even ground, I am attempting to target a 5% monthly return and a maximum of 20% as drawdown for each system, but that’s mostly guesswork and it will surely vary wildly.
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#7 written by peter August 2, 2011 (6 months ago)
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#9 written by peter August 3, 2011 (6 months ago)
Hi Birt
Wow! EA Top is destined to become No1 page in Robo World.
I wonder if you could consider a small addition to the template. A column showing what Risk level you have used
would be very helpful to me at least. We all have different
appetites for risk and you seem to be conservative whether
by nature or experience. I run quite a few accounts and I vary risk so I have some accounts in the Fast Lane (when they don’t have much money) move to Medium when they have doubled and go conservative when I stand to lose
a lot.
Just a thought. It’s your baby.
Cheers
Peter-
#10 written by birt August 5, 2011 (6 months ago)
Glad you like it!
As for the risk, you are perfectly right I am very conservative, part by nature but mostly by experience. One can’t realistically expect to get rich overnight and I personally view the Forex world just as an investment with more potential but also with more risk than most other investments.
I will leave the risk column you mentioned out for now because of the misc issues with it (e.g. FGB only has lots and the same goes for a number of EAs) and also because of the lack of space that the column would require if I were to convert it into a more flexible display that would allow lots as well as risk percents. What I might do instead is set up a download of the .set files that I am using for each EA. Not going to happen very soon, though.
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#12 written by Abdulmajeed September 23, 2011 (5 months ago)
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#13 written by birt September 23, 2011 (5 months ago)
What do you mean by “rare”?
As for the two EAs you mentioned, I already wrote about them ages ago. I won’t forward test them because in my opinion they are not profitable. The article links: FAP Turbo and Forex Hacked
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#14 written by biz October 11, 2011 (4 months ago)
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#15 written by birt October 30, 2011 (3 months ago)
Although I am not sure how come the 100% thing was there, I found a small issue with the EA that was calculating this figure. Since the terminal didn’t have all history displayed, it was only calculating the figure for the last month. This was fixed for all the forward tests and it will update as soon as the market starts today.
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#16 written by Ash October 11, 2011 (4 months ago)
Birt,
As Tom pointed out, it seems the TFOT EA from iticsoftware is running on real $10k account on Alpari US and has made $20K in the last one year. That’s a great return.
Would you be able to review it ? The links are:
http://iticsoftware.com/expert-advisors/forex-expert-advisor
http://www.myfxbook.com/members/iticsoftware/expert-advisor-tfot/65539-
#17 written by birt October 29, 2011 (3 months ago)
I’m going to stay away from TFOT. It is an almost identical copy of an early Forex Combo System version (I believe 2.1) with the reversal strategy removed and with a steeper price tag.
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#18 written by Eben October 28, 2011 (3 months ago)
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#19 written by Sam October 28, 2011 (3 months ago)
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#20 written by birt November 26, 2011 (2 months ago)
I added it to my No Review List. It’s an overpriced martingale that will likely blow quite a few accounts.
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#21 written by Sam October 28, 2011 (3 months ago)
Hi Birt
If you got the chance could please review on the follow EAs what you think?
Forex EA Lab
http://forexealab.comRapid Forex Profits
http://www.rapidforexprofits.comAuto FX Firing Pin
http://autofxfiringpin.comand friend of mine email me this site with free EAs but I’m bit worried about installing there activator any review about them will be great.
http://fexea.comThanks for your time.
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#22 written by Alex Booth December 10, 2011 (2 months ago)
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#23 written by birt December 11, 2011 (2 months ago)
Thanks for the appreciation. However, I’ve taken a quick peek at your EA and I haven’t been able to find any forward test of it nor any backtest on years prior to 2011. The backtests you posted only have 57 trades each, which is a sample that’s too small to be relevant, especially in the case of a Martingale EA. If you would like me to post a forward test, please use the contact form and send some relevant backtests.
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#24 written by Garry Higgins December 16, 2011 (2 months ago)
To Birt and other traders:
I have built my own EA and its doing well on back testing and demo. It uses multiple pairs. My question is, Is there a platform or app out there that would allow me to back test multiple pairs? My MT4 platform only allows one pair at a time. Id like to trade 4 to 6 pair at once. ( its not a scalper)
Garry
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#25 written by birt December 16, 2011 (2 months ago)
You can do that with MT5 or, even better, with JForex. There are many other platforms that support multicurrency backtesting but these two are the easiest to get. If I’d have to choose, I’d go for JForex seeing that MT5 interpolates ticks. There’s a catch, though: no matter what you choose, you have to rewrite the EA completely.
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#26 written by Garry Higgins December 16, 2011 (2 months ago)
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#28 written by Novan December 19, 2011 (2 months ago)
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#29 written by birt December 19, 2011 (2 months ago)
FxVoodoo is a scam EA and I would never ever risk real money with it, so I will not run a forward test. It’s curve fit for a single year. For more details, please check out the No Review List.
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#30 written by Aspro January 13, 2012 (1 month ago)
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#31 written by birt January 13, 2012 (1 month ago)
Just in case you missed it, Forex Shocker is in the top chart above your comment
It’s been doing moderately well for me. The only way I would see it get to the top would be if it was running on a demo account or perhaps if it was the only one in the list. It’s not a bad EA, but it’s very sensitive to spread and execution.
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#32 written by dalec January 19, 2012 (1 month ago)
Hi Birt!
Just a question. You have added to your ‘no review’ list FXPAPA. And your reason stated was that it is the same as cyber-forex, which blew its account 2 months in.
Whilst it appears it is the same vendor, the system is actually different upon questioning and a bit of myfxbook research:
There is a max open orders of 3.
It trades EUR and GBP.
Position sizes are not increased after a loss or after successive opens.So there is a slight chance it could be a viable system.
You can see it run live via myfxbook if you are interested:
http://www.myfxbook.com/members/FxPapa/fxpapa-expert-advisor/198366Any chance of a review after seeing the differences?
Thanks birt.
Top of the day/night to you!
Dale-
#33 written by birt January 19, 2012 (1 month ago)
To me it still looks very much like Cyberforex. I’ve taken it off the No review list for the time being as I don’t have proof that they are identical, but judging by their forward tests and backtests they’re pretty much the same. The vendor mentions fxpapa is limited at 3 concurrent trades, but seeing that there’s no stop loss, that’s quite meaningless. Unless the vendor decides to post some 1999-2011 backtests (which they didn’t in spite of the numerous requests on myfxbook), I am still inclined to believe it’s an account-crashing grid EA.
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#35 written by Aspro January 23, 2012 (1 month ago)
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#36 written by birt February 6, 2012 (2 weeks ago)
Yeah. I believe it is a tweaked copy of MDP. The vendor was even caught red-handed and had to come up with a lame excuse (read the beginning of the myfxbook thread). Just to give you some background info, it’s the same vendor that sells EA Shark – take a look at that on my No review list to get an idea of his bullshitting capabilities. Moreover, if you read the myfxbook thread carefully you will notice how the vendor keeps dodging questions about a live account.
As a side issue, there seem to be two opinion groups: some people say that an EA that’s based on another EA (aka it contains stolen code) is worth considering as long as it brings profits; the other group advocates that such EAs should be boycotted without a second thought. While I completely understand the point of the people that are open to trying such EAs, I’m more of a member of the other group myself, so if I can avoid copied EAs I will.
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#37 written by Geoff February 4, 2012 (2 weeks ago)
On myfxbook, I asked FxPapa what safety nets are in place for the EA. He responded:
“FxPapa EA uses equity stop loss. Default value is 10 which means the EA would close the positions if the total loss be more than 10% of the account balance. The EA may open up to 3 positions at the same time. In this test we have used 15% risk.”
As far as profit-taking, for example, he also said this:
“When there is 2 open positions like that you are talking about, the EA close 2 positions when the total net profit be 10 pips. If you review the history you can see that the EA has closed the 2 positions in the same time, first one on +36.5 pips and the second one on -24.7 pips.”
So, barring its losing control of trades or some gross coding error, would this be safe? 10% total risk for all open trades seems a bit high but doesn’t sound insane. What do you think?
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#38 written by birt February 6, 2012 (2 weeks ago)
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#41 written by Paul February 6, 2012 (2 weeks ago)
Check out this Expert Advisor:
www dot fxpapa dot com
http://www.myfxbook.com/members/richowl/rich-owl/236455Very Interesting. What is the strategy
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#42 written by birt February 6, 2012 (2 weeks ago)
It’s a grid EA with an equity stop (or so the author claims). Despite numerous requests for backtests on myfxbook, the author has failed to produce any backtest other than the very limited one displayed on the website, which is likely curve fit seeing that there was no equity stop. Personally, I don’t trust it and I won’t post a forward test until the author cares to back it up and to answer the less comfortable queries that the users have.
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#43 written by Paul February 6, 2012 (2 weeks ago)
Check out this Expert Advisor:
www dot richowl dot com
http://www.myfxbook.com/members/richowl/rich-owl/236455Very Interesting. What is the strategy
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#44 written by birt February 6, 2012 (2 weeks ago)
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#46 written by Geoff February 20, 2012 (2 days ago)
GridMeUp just crashed after about a one year run and restarted a new test this month (the previous year’s data appears to be wiped). The author is convinced that he can fix problems with the strategy (apparently it did not close all trades at a certain DD point – 40% I think he had it set at).
http://www.myfxbook.com/members/odrisb/gridmeupfx-2012/107990
It’s worthwhile to read through all the comments.
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Birt 3.0 – wow!