| Ratings | |
| Overall |  |
Personally, I have live traded Forex MegaDroid for over 6 months now, on 3 different brokers from across the globe and in summary I rate this as the best Forex EA on the market. The only limitations I have found are:
- It only trades Monday through Thursday nights (European time)
- It has been known to go a couple of weeks without a trade (but this hasn’t happened since their update)
- When it looses a trade, which isn’t often, it can be significant. With Recovery Mode I’ve claimed back my 3 loses in under 2 weeks.
Here’s a snapshot of their live trading results in 2009-2010, which I can confirm, match up with my live results also:
Now, let’s see what everyone else thinks…
Herman below talks about long term profits, however, if you hit a good period where MegaDroid trades often you can get some decent returns in the short term too.
Good to hear positive reviews from other longer term traders:
Here’s a more reliable MegaDroid review from a Senior Member from a popular and well respected Forex Forum. He’s brought in over $5000 running his EA on two different brokers. His “MT4 Stats” links aren’t working at the moment, but give them a try and you may be able to validate his claims.
Here’s an even better review from a trader who has used MegaDroid from it’s launch. This review was posted in May so close to the launch. Plus, he has posted his demo results and has an MT4 Stats account that is operational, although it looks like he has some other trades in there as well… The Megadroid trades are the ones on EURUSD that take about 10 pips in profit. http://hefe2hefe.mt4stats.com/
Customer Service
Here’s a blog comment from one of MegaDroids support staff… there’s good reason why they take upto 24hrs to respond:
Should we test it?
Well, I’m a bit biased when it comes to Forex MegaDroid. I live trade it myself on a daily basis so can only say good things about it. The reviews above only reinforce this. When looking at other reviews out there you’ll find a lot of newbies, who are unfamiliar with Forex MegaDroid, commenting on how they haven’t had a trade for 2 weeks. I can confirm that this was the case up until late 2009. Since then it has traded at least once a week and ended ‘09 in good form. So for the benefit of my readers I’ll retrospectively put MegaDroid through our testing process…
Test 1: Independent Strategy Testing
2000-2010 Strategy Test results show growth from $10,000 to $995823 at 95.59% accuracy.
View full 2004-2010 Forex MegaDroid Strategy Tester results
2009 Strategy Test results are choppy but still show growth from $10,000 to $36,436 at 86.92% accuracy.
View full 2009 Forex MegaDroid Strategy Tester results
Test 2: Live Trading
I’d usually move onto Live Trading as part of “Test 2″ but because I’ve live traded MegaDroid for almost a year now I thought we could skip that Test.
Lab Result:
Due to a messy live account I have called upon the help of MT4i to collate the trades in my account related to Forex MegaDroid. Below you’ll see the monthly pips generated by Forex MegaDroid during the 2nd half of 2009 and early 2010.
In the chart below you’ll see how I’ve optimised Forex MegaDroid to make the most of it’s accurate trading strategy eclipsing $4931 in profit in just a matter of months.
Please note that I currently run MegaDroid on two brokers, one ECN the other non-ECN and both tend to operate almost identically. Prior to the results shown above I ran MegaDroid on yet another broker and these results can be seen below:
And to see in more detail how it’s currently running take a look at the screenshot from MT4i below:
View Live Trading results until 7th May 2010
Note: The MegaDroid Live Trading account above was merged with other EA’s on 7th May 2010. It will therefore no longer be used on this site and instead a new chart will be added below and updated on a monthly basis with current Live Trading performance.
However, if you want to see how MegaDroid is currently performing, please see the Live Test chart below:
View current Live Test results
Update 8th August 2010:
- Live Test above updated with MegaDroid Version 1.30
6 positive user reviews 
0 negative user reviews.
I’m hunting round for new EA’s and trade megadroid so thought I’d post a review.
I’ve been trading it live since mid 2009 and have found out of all the robots I’ve tried this is the only one that consistently wins trades and wins enough to give you the confidence to trade it every day.
It does lose the odd trade and when it does it is usually quite a big loss, but it always makes back the loss quite quickly and continues its winning way to keep you well in profit even if another big loss occurs.
Definitely one to add to your portfolio!
been useing it for all most a yaer now and have been pushing it as far as i can go with it http://www.mt4i.com/users/kingdoom_5 is the website have a look eur/usd is the 1 it trades and the others am testing on the live yes i said live as in real cash
MD is one of the only solid robots on the market, it doesn’t trade often but has such a high win rate that it is a must for all traders. Proof is that I am about to purchase a second copy to run with a different broker.
Thanks for the reviews guys. Keep ‘em coming!
Kingdoom_5, you are indeed pushing it to the limits… nice work.
I’m still a bit skeptical about this Robot because the guy you mentioned above as a senior member (mr bravehoststamps) from a respected well know forum posted the exact same comment on another forum under the name Pipsbuster and also on a french forum under the same name….very confusing
Bruno, what comment are you referring to? The guy you mention doesn’t exist on this site.
Hi, do you still MegaDroid on zulutrade? I want to test it first there.
Thanks
Hi Cristobal,
Yes, it’s still running on on Zulutrade. You can see it in action here. Note, the Alpari Demo account that it runs on doesn’t pick up every trade that Megadroid places on live accounts, so it’s actually doing better than the results show on Zulu. Enjoy!
Thanks, and about the question I did on pipbot, can you answer me? Thanks!
I trade several EAs and the MegaDroid it the only one that I can really trust, even FAPTurbo can be shaky at times, but MegaDroid is just so consistent that I always have faith in it.
One thing though, it doesn’t trade that often. The first two weeks I ran it on a live account it traded 3 days each week, and sometimes two trades in a day using it’s aggressive and conservative strategies. Plus, it didn’t lose one trade or break even. Every trade was profitable and good profit to boot! None of this $3 or $7 crap, but $70 to $130+!
But in the few months since then there have only been three occasions where it traded more than once in a week and the odd week it doesn’t trade at all. This could be seen as a negative but the reality is that it’s staying out of markets that are unpredictable and only trading when the time is right. That’s the reasons why it’s only ever lost one trade for me. This was when the stop loss was hit (but it made up the deficit within 3 days using it’s ‘Recovery Mode’).
Forex Megadroid doesn’t trade often but when it does, you can be confident it will win. I have been trading it for a few months now and am very impressed.
The returns from other automated forex systems I have used, compared to the MegaDroid, have been significantly worse. I use the Megadroid for two simple reasons. 1) The backtests do confirm their claims in their site 2) All the parameters of Megadroid are “locked” except the very simple ones like “how much of the funds to risk each time in open positions”, and “how to make the reinvestment of the profits”. Which means I can’t get behind the interface to build my own Expert Advisor like I can with other auto systems on the market.
I notice the MD only have few trade in a month. Something wrong with the MD?
Hi lora,
I know what you mean. It has been a quiet month for MegaDroid. I don’t think anything is wrong with it, I think it’s just the markets aren’t right for it
I run it on 3 live brokers and 1 demo myself and have noticed that the spreads are making trades inconsistent between brokers, i.e. 1 broker may place 2 MD trades in a day and the other 2 won’t place any or just 1.
Hope this helps.
Tell me, do i have to use brokers recommended by Megadroid, or can I use my own? Will I have signals on the charts, or will buy and sell orders happen automatically and I don’t know about it.
The reason why I’m asking is, I already have 4 accounts with brokerage firms and not which ones is compatible with Megadroid.
Hi Niel,
No you don’t have to use the brokers they recommend by any means. And you will not have signals on the charts, it’s fully automated trading, i.e. as you say orders happen automatically without you knowing about it… unless you activate the email alert function where you’ll receive an email every time an order is opened. I use 3 accounts with MegaDroid, all very different and all work fine. I suggest you monitor the trades for a few weeks on this page and test out your brokers to see which ones pick up the most trades.
Hope this helps.
I notice the MD 1.21 can use the same ReceiptCode to run multiple live a/c as well as in diff computer. How can it be?
Well spotted lora! I’ve just done a quick test and, yes, it appears you can use one code on multiple accounts/computers… So no need to buy additional copies if you want to run it on different accounts.
The MD robot price have been reduce from 149 to 97 today. anyone know what happening?
Strange?? Maybe they noticed sales were down or refunds were up. Therefore it would make sense to drop the price again.
is it easy to install
Yes, one of the easiest. It’s almost as simple as it gets and there instructions are very thorough. Let me know if you get stuck anywhere along the way and I’ll help out.
MD is really having very less trade or no trade at all for the pass few weeks. as compare to Fapturbo, it work more effectively and having at least few trade a day.
Yes, MD has had a quiet spell. It seems to do this now and again, only picking ripe markets for it’s entry… that’s something I find quite nice about it, but takes a while to get use to when you first start using it.
MD just release a new version 1.30. Hope this version will trade better compare to previous version
Yes, received mine as well. Will update the demo account above with it (over this weekend) and also my live accounts.
hi friends
MD is working for broker fxopen ? is there any parameter to be define ?
thanks for help
Welcome Tony,
You might need to give further info for us to help. It hasn’t traded for the past 2 weeks so this may be what you are experiencing.
hi cam forex,
I knew MD since last year, but I never try it. I read it that MD is Ea with long history and stable performance. I plan to order it soon and I have 2 existing broker account ( fxopen and forex.com). is it working for both broker ? is there any special setting for each broker such as time server, lot etc ? MD can be used for more than 1 account ?
thanks a lot to answer my question
Hi Toni,
I’m can’t confirm it works for those brokers. I have it on Alpari, Gomarkets and LatitudeFX of which all work fine. Although they all differ in terms of which trades they pick up, sometimes all the same, sometimes different for each. My conclusion is that it’s to do with slippage and/or spread differences between brokers. So, I’d assume FXopen and Forex.com would work. If not, you can always get the refund or open another broker account.
As for special server time settings… the autoGMToffset will automatically configure this for you and your broker. Regarding lot size, you can set this as you like or choose a % of your account to risk. It’s not broker dependent from my experience.
Yes, MD can now be used on multiple accounts… however, they just launched a new version of it today so I wonder if they have turned this feature off… I’ll confirm tomorrow.
Hope this helps.
MD is very disappointing Cam. It hasn’t traded even single day after my purchase. I don’t know what to make of it, as I cannot make out its good or bad if it won’t trade. I thgt the version 1.3 would trade, but nothing at all. Anything on your end?
Nope, nothing for a few weeks now (on 3 live accounts plus 1 demo).
I have seen it hit a dry patch like this before… I can only assume the market isn’t ripe for the picking.
Earlier this year I have experienced weeks where it would trade every day (Tues – Fri) and sometimes multiple times a day… so I know it’s capable.
I think that’s why alot of people seem to give up on MD… they expect something straight away and don’t have the patience… sit tight, it will come… I’m sure of it!
And what do you know… 2 trades today on all three accounts… however, they were all breakeven so no joy on the profit front… but at least we all know it’s still working
MD got a bad trade today.. hit a big SL
Strange. Mine opened 2 trades. One spent a few hours in draw down before it closed out break even. The other, because it opened earlier and higher than the 2nd trade, didn’t make it back to break even and then closed out without hitting SL at 8pm NZT exactly. This was a feature I hadn’t noticed before. If I had known about it I would have exited the trade earlier, saving myself a few hundred dollars.
Another thing to think about it that this is a new version of MD, so we can’t be sure that it’s using the same logic that worked so well over the past year… only time will tell.