MyForexPath EA Review

MyForexPath is 100% automated trading robot launched by the ForexStore group. This group has a reputation as a great and reliable robot designer. The MyForexPath EA works on three currency pairs – AUDUSD, EURUSD and USDCAD.

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ForexStore is a long-standing company that has various trading solutions in their portfolio: FXParabol, ForexExtract, FXQuasar, FXConstant, FXCipher, and more. So, the developer of this robot provides the Forex-related community with great products consistently. That’s why we decided to check it.

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MyForexPath Robot Review

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MyForexPath EA Review

We’d like to say yes. The system looks pretty stable and predictable. The presentation is featured by various claims about the system and its performance.

  • MyForexPath was designed as a fully automated robot (EA) for trading on the Forex market.
  • The system can determine a trend and open orders in its direction.
  • It uses special algorithms and indicators such as MA and Parabolic.
  • It manages AUDUSD, EURUSD and USDCAD as the core Forex pair.
  • It has 4 independent sessions for each pair.
  • It has a drawdown control in-built the system
  • It is compatible with any broker of choice.
  • We can work on MT4 and MT5 with the robot.

Strategy Report

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MyForexPath EA Strategy

The EA uses specials algorithms and indicators to determine the direction of the next trade. The drawdown control system enables it to close previously opened trade in case of an unsuccessful entry and a change in trend. After which the MyForexPath auto trading system is able to compensate for any accrued loss as soon as possible.

Breakdown

  • Type: Forex Robot
  • Strategy: Trend
  • Pair: AUDUSD, EURUSD and USDCAD
  • Time frame: H1
  • Price: $285

MyForexPath License

The offer goes for a one time price of $285 for 1 unlimited license. There is no discount available now. The package is featured by one license for an unlimited number of real and demo accounts, free updates and upgrades, version of the EA for MT4 and MT5, detailed user manual and a 30 days money back guarantee. There is a possibility to change account number online using the technical support available 24/7.

Backtest Report

Backtest Report

There’s a report of AUDUSD (Normal Risk) on the H1 time frame. The modeling quality was 90% with very high spreads of 30. An initial deposit was $1000. The system managed to obtain $25032.90 of the total net profit. The profit factor was 1.92. The maximum drawdown was 32.69%. MyForexPath auto software performed 1839 deals with the win rate of 69.23% for short and 71.25% for long trading positions.

MyForexPath EA Result

MyForexPath Result

MyForexPath robot runs a real USD account on FXOpen automatically with 1:500 leverage on MT4. The account has a verified track record. So, it was created on November 19, 2021, deposited at $2000. So far, no withdrawal has been made. Since then, the total gain has become +1,364.93%. An average monthly gain is 7.28%. The maximum drawdown is 53.81%. There are currently 6 people who track the results of this MyForexPath trading account.

myforexpath trade statistics

MyForexPath EA has executed 846 deals with average profitability of 66%. An average win is 32.34 pips pips when an average loss is -71.89 pips. The system trades with an average trade length of two days and a profit factor of 1.45. This is exactly a good number for a paid advisor.

myforexpath trade summary

The MyForexPath advisor trades mostly in the Long direction.

Risk probability

The risks are not too bad. The system has to lose 8 deals in a row to lose 10% of the balance.

Conclusion

MyForexPath is Forex robot that comes with 4 risk settings to configure. The team of developers are well experienced and provides a standard 30-day refund policy. Their MyForexPath program  has positive trading result that convince us about purchasing this trading tool. A live trading result backs up the fact that MyForexPath EA is a trading advisor working on the real market and making stable profits.

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Compare Robots

Wallstreet Forex Robot is a piece of software that works based on scalping. The latest version comes with a broker spy module that prevent unfair play by brokers during trading.

WallStreet Robot

It costs just $367 and you also get a bonus auto bot systems. Get the complete robot package at: wallstreet-forex.com

Where to Trade?

Remember you will need to integrate the EA software with your trading account. In order to do that smoothly you will need a broker that offers Metatrader 4/5 and allows you to use Expert Advisor in their Terms of Use. You need a compliant broker with fast transaction processing (no delays, no platform freezing) and a relatively cheap trading costs (remember your EA can do lots of transactions, so you don’t want forex broker which will shave you on commissions, overnight fees or high spreads)

Avatrade – (Recommended for Non-US Traders), sign-up here.

HankoTrade – (Recommended for US Traders), sign-up here.

In order to maintain maximum availability for all automated trading accounts for all times, you better use a 100% uptime VPS server, like ForexVPS.

MyForexPath Expert Advisor

$285
7.3

Trading Result

7.5/10

Strategy

6.8/10

Website

8.0/10

Pricing

7.6/10

Transparency

6.5/10

Pros

  • Myfxbook result
  • Performance result
  • Fair pricing
  • Recommendations
  • Experienced vendor

Cons

  • High drawdown
  • Average win-rate

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