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 $36,436 at 86.92% accuracy.
View full 2009 Forex MegaDroid Strategy Tester results
Test 2: Demo Testing
I’m currently running Forex MegaDroid on Alpari UK. Testing started on 12th April 2010. Current results are as follows:
View Forex MegaDroid Live Test results
Demo Account disabled by Alpari on 20th October 2010. The above chart has stopped working now, so please refer to the chart below:
View Forex MegaDroid Live Test results
Demo Account disabled by Alpari on 4th April 2011. The above charts have stopped working now, so please refer to the chart below:
View Forex MegaDroid Live Test results
Demo Account disabled by Alpari on 10th July 2012. The above charts have stopped working now, so please refer to the chart below:
View Forex MegaDroid Live Test results
Demo Account disabled by Alpari on 10th January 2012. The above charts have stopped working now, so please refer to the chart below:
View Forex MegaDroid Live Test results
Demo Account disabled by Alpari on 10th August 2012. The above charts have stopped working now, so please refer to the chart below:
| Current Floating Profit ($) | Total Balance ($) | |||
| 0.00 | 19382.59 | |||
| View our Forex MegaDroid Demo Test Statement | ||||
Update 8th August 2010:
- Live Test above updated with MegaDroid Version 1.30
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 “No Dealing Desk” brokers, 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 has been added above and will be updated every 10 minutes.
Had 13 pips profit yesterday
Thinking about it L, neither trade was in draw down so i dont understand why you should have had a loss!
I have a suspicion I should change my broker or vps because when I’m in profit for few days constantly something happens like this. Do any of you guys have experience with FinFx and Beeks Fx (that is my current broker and vps). And how about Thinkforex with its free vps? Is it better?
In the past, I had one experience with FinFX.I think they manipulate the trades. I had LeoTrader Pro and the creators of the leo trader, had very good account with finfx, I purchase leotrader pro with account with FinFX , during the leotrader creators account was raised, my account was wiped out and finfx was caught 3 times to close prematurely trades or hit the stop loss or when my trades have some profit was closed automatically (not by bot) and acourding to the creators of Leotrader , they replicate the same trades so for my opinion , keep out from FinFX broker. I complained to leotrader creators and they create some updates might was some error in the system , but this happened again. So if we assume the Leotrader robot is working the FinFX is not a good broker, so I refunded my Leotrader and I will never recommend FinFX to anyone. That is my opinion. The fact for me is , I tried many bots with many live accounts , and I lost all my money with all brokers, all bots , all accounts even live or demos.
Conclusion: Forex+Bots=Fail.
I am not trust even MegaDroid, I had and FapTurbo in the past, it failed too.
If you do not belive me I can send you a snapshot. :/
Hi L, im based in the uk and use Alpari uk and run Megadroid on a micro account off my home computer
Hi L I have recovery mode switched on and it did 2 trades in the space of a minute a couple of weeks ago. I thought it just increased the size of the trade after a loosing trade.
Hi L when its in recovery mode it sometimes does 2 trades instead of the 1. so far its happened once to me when i was running on a demo account
-0.57$ last night. I think it isn’t the best recovery mode.
Hi L i think i would look at changing my broker if i were you! megadroid traded and won last night for me with no drawdown
Since my $333 loss last week the MD made 4 trades.
$-0.57 (above)
$36.7
And last night it opened a trade with 0.29 lot and one with 0.6 lot and made exatly:
$0.00
and $-0.20
The commission is around $6 for the 2 trades so I can say both of them closed with negative result.
Is the problem with the robot or with the broker (FinFx), or what???
Who else has same results with megadroid? I have one more licence and I was planning to put it another accout as well but after this I think I’m going to refund at least one of them.
Hi L, i also had a trade last night but it was a winning one! and it didnt go into drawdown. I think maybe you should look at changing brokers
Hi Cam, are brokers bothered about EAs or do they just want as many trades as possible? Im looking for an EA to run along side Megadroid, do you think million dollar pips would be suitable? I only have a small amount of capital £200 with an Alpari micro account) and would be running of a home computer.
Sorry Cam, didnt realise you had shut down conversation on MDP!!
where to download this EA, can i get a download link?
Hi Dhruba,
You need to order it via the “Visit Site” button link above.
hello Cam.can you please tell me how you ‘optimised ‘megadroid to make the most of its trading stretegy. i bought it about 1 month ago,am still on default settings. is good but does not trade often and usually takes very small pip targets,cheers,marka.
Hi cam, i was thinking of putting my alpari micro account through a company called cash back forex to get a rebate on my trading. Is there any downside to doing this? are Alpai going to increase the spreds?
Hi cam im thinking of running megadroid on a vps server, do i need the basic package? is there a specification that you would reccommend?
Avoid to pay for private servers , I used to use one small notebook with my internet connection.
Even if the power was off , the notebook have buttery for many hours.
Hi Jon,
I use, SWVPS which is cheap and stable. There’s more info on it here: http://www.forexreviewsrated.com/2010/swvps/
Hi Cam,
This may be answered already but what settings are you using? Default settings?
Hi Tim,
Yes, default
Megadroid target profit is around 4 to 5 pips. even if the trend is in wining condition the Megadroid close the position once it win 3 to 5 pips. It take around 2 trade per week. So to enter the BEP you have to run the EA at around 0.2 lot size. The default stop lost is to high , be prepare for big lost also.
So far so good for me with Megadroid! Just wish it would trade a bit more and i had enough money to put a bit more in my account! But better a robot that wins than one that emptys your accound!
I am looking forward to the updated version of MD. By the way I started to testing an EA called “free Fx trading robot” and the strategy of this EA is very similar of MD. It opens trades at the time like MD, the default take profit is 7, the stop loss is 80 pips but you can modify these settings. Does anybody have experience with this EA?
Are you risking 80 pips for 7 pips?
Very bad strategy.
My experience thought me to stop using scalp bots.
I was a big fun of scalpers
Scalpping seems to be nice , because you are entering and exiting fast and you take the money fast like a rogue. But what will happen if the spread is very high and you will remain in the losing position for very long time?
You will be forced to hit the stop loss of 80 pips and you will need to make 12 profit trades to recover one loss. 1 loss for 12 wins!! , what happen if you will have second loss in the raw?
2 loses for 23 winners you have to win 23 times in the raw to cover just 2 losses. In forex is impossible to not have 2 just losses in 23 trades. So you are going nowhere. You are trembling in each trade. I don’t like to be scared when I am in one trade. If I want to be scared , I go to the cinema and I see Dracula movies.
Hi L is the robot free? and is it making any money on your demo account?
most EA’s seem to have a high risk-reward stratagy i.e 10pips profit and 80pip stop loss, i often wonder why no one does it the other way round, you would loose more trades, but the rewards would be a lot higher when things go your way.
Hi.
Yes, the eurusd version is free and there is an advance version which trades 4 currency pairs. I haven’t tried yet the advance version, if the eurusd version is working well for at least a month I think I’m going to buy it.
I use it both on demo and live account. At this time it works better on my live account (last night it made $6.9 with 0.1 lot on my live ECN account and $1.88 with 0.47 lot on my thinkforex demo account).
Panagiotis. The megadroid is using the same or even worst rist-reward ratio with 10 pips profit and 100-150 pips stop loss but all of the other scalp EAs use similar startegies. I’am testing this EA on my live account with 0.1 lot and on a demo account with 5% risk and I’ll see the result. But if you have a good suggestion which EA to use don’t be shy, let me know please.
Hi Cam, do you know what stop loss Megadroid actualy uses?
There’s a difference between the actual on the chart which the broker sees (dummy) and the internal. The internal which is the lead is 60 pips, the actual will deter the broker from stop hunting and catch you if the platform crashes.
I’ve suffered 2 losses with MD since I use it and both were around 100 pips on live account. In the manual (or the website) they say it is around 100-150 pips.
Hi Cam, this might be a stupid question but if you have an EA on your home computer and decide to use a VPS package, do you have to purchase the EA again? or can you transfer it? many thanks
Hi Jon,
It depends on the EA. Most allow you to change PC’s but some (very few) restrict to one PC. You will be okay with MD.
Hi Cam, im based in the UK with an account with Alpari, would i be better of with a UK based VPS server? The American ones seem a lot cheaper, but im worried they may be slower than a VPS in the UK
Possibly. I have used Alpari UK from a New Zealand PC before and it worked fine. As with everything, test it out and use low risk. If it works then you can decide to increase risk and run it long term.
For MD you do not need any fast server. Or it is not a winning criteria for MD. MD avoid taking any position if market is moving fast. MD take the position based on support, resistance and CCI,RSI,MA, HIGHEST, LOWEST of given period. So running your EA in fast server is not critical. IF it is MDP yes, you have to run the EA in the FASTEST VSP in the world to make the highest money. because MDP take the multiple position when there is splash breakout.
Hi EALooker, its MDP im thinking of running with. What minimum specification would you reccommend for the VSP and are there any you can reccomend? Thanks
what is the suitable time frame foe this Forex MegaDroid
It sits on the H1 chart, but has been known to be used on the M5 and M15.
Hi Cam have you ever used megadroid on a m5 or m15 chart? does it still make money?
Not personally. I know others who made in the short term. But it still tends to trade at the same rate. If you’re looking to increase risk then I you may as well stay with the H1.
Turn MD off this week. Not a good week until after the holidays.
Trying to make money using MD, you need favourable market condition. Moreover MD is not a scalping EA. why you want to run at M5. MD uses S/R to take a position with the support of few more indicator as I said earlier. Those conditions will be too noisy in M5.
M15 may be but not ideal. However MD has hardcoded most the parameter inside. So can’t influence it much by changing time frame. Please keep in mind that if MD hit few consecutive stop lost it will take several month to recover the lost.
Hi Cam, A very mery xmas to you and yours! and a very profitable new year. I have switched megadroid off over the xmas period, when do you think its safe to start it again?
I would suggest WC 9th January.
Merry Christmas to you and yours also!
Hi i have a quick question does any actaully makes a living out of these ea i,m trying one at the moment it does alright but i,m researching the perfect ea one that would allow me to quit my day job any ideas?
Hi Autoincome, I think you need a lot of money in the first place and a lot of nerve, if your going to make a living from an EA. Everyone is seeking the perfect EA and i dont think it exists. Some EAs make money when others fail and then the same EA will make a loss and the other will make money. If you find the perfect EA, please let me know!!!!
Hi again Autoincome, For what its worth Megadroid seems like a very good EA, but to make a living from it I think you would need a massive account
Hi Cam, Hi all a happy new year to you! Does anyone know anything about Think Forexs free v.p.s service? has anyone used it? and is it any good?
using these two robots:
MDP or FAP TURBO? i know this all EAs must have losses and also win, but i need a robot that can beat the loss.. more winning than lose a lot. i need your advise cam? .. thanks:)
MDP wm.
hi cam
thanks thanks thanks a lot:)
hi cam,
can you privately send me the best broker,atleast 1 or 2, i should sign in for MDP base on your experience. thanks for the help in advanced cam:) btw my email sys_tem218@hotmail.com
Hi Cam, Im going to run MDP alongside Mega Droid are the add ons of USD/JPY or GBP/USD worth getting in your experience?
Hey Cam… I Can see on the Zulu Trade stats that Forex mega Dorid dont
Generate so Much pips anmode why is that p.s hope you solm cornect more eas to Zulu Trade happy Trading
Hi Tommy,
Their latest update includes a function where you can be more conservative about the times you trade. I have left this on as it’s one of their default settings.
Will add some more EA’s to Zulu this year.
hi cam i am a new member of your website.i have downloaded Blessing EA, and going fine.IT is very helpful to poor Forex bigners to get confident in Forex trading. because of most bigners lossing huge amount of their valuable money in Forex continuously.i will write more experiences in this website future.U ARE A GREAT MAN,MAY GOD BLESS U & UR FAMILY.THANXXXXXXXXXXXXXXXXXXXX A LOT, biju,india
Thanks for the kind words Biju. Might try and get Blessing EA up in the lab.
I just set up megadroid and Fapturbo ichimoku on the same live account in a vps. What’s your take on this?
Should work fine together. I have had MD and FAPT running together and had no problems.
Hi i bought Forex MegaDroid last week and shall test out with my live GFT account using Boston Technologies VPS this week from Singapore.
hi! i bought and install forex Megadroid since 13 march! it has a smile face on it but no trade.. could it be my setting? all i did is change the lots to 0.2 and leave the risk to 0.1 also true for recovery as it is. Im with the broker trading-point.is it ok with this broker?
Hi Chin, Megadroid does not trade that often, on the left hand side of the screen do you see “authenticated” if not you will need to contact the customer support
hi jon m,thank for the help! it does show “authenticated”! its my first time using ea so i got worry from not setting it well! i guess i gotta just wait then..
oops can i take back those star? i accidently..well nevermind..
i think is my broker trading-point.. i havent made any trade since.. do anyone as any experience with megadroid and broker hot forex? does it work together?
Hi Chin, my megadroid has not traded for about 2 weeks, it does that sometimes. its not one of those EAs that trades a lot
guys my megadroid traded on the 13th,14th,15th and 21st march,all winners.
really? what s your broker?
you could try intertrader.com but only if you are in uk.
I have megadroid and forex hacked! megadroid has only made one trade in 7 days! it may be a good program but never does trades!
no marka im from canada.. well i will try to contact their support and ask for their recommanded broker later because i refund it right away after 2 and a half week just waiting for it to make a trade in trading-point ..so i delete it everything then now just realise i should of check out their recommand broker at least..
no trades at all this week for megadroid
Chin, write me, i have some information that will guide you and others thinks that you definitely help you. ibupcom@gmail.com, or contact me on skype: ibupcom
Guys.
Megadroid doesn’t trade very often. Sometimes it trades every night, even open 2 trades at the same time and sometimes you can not see a single move for weeks. That is quite normal wih this bot. If the market conditions don’t met MD doesn’t enter the market. That’s why it’s a safe bot.
Using the recommended broker doesn’t relly effect it’s performence positively. Usually the EA vendors are affiliates/IB partners of those brokers whom they are recommending and just make money if you sign up via their IB links. What’s more, I wouldn’t use the recommended brokers because if everybody is using the same EA at the same broker they can be overhelmed with it and won’t be profitable any longer.
Hai guy,
Can anyone advice on MDroide, can i change the stoploss, any safe recomendation ? Lot size and only trade 1 lot at a time insteed multiple lot?
Please advice thanks
Hi Cam
I can’t seem to find your current live (non-demo) trading results for this EA. Are they available? The most recent seems to be 7th May 2010. Have you stopped trading this EA?
I’ve only just started looking around your site, but it looks very impressive.
Hi AJ, For the time being I’m keeping my live accounts private. I may open these up at a later stage.
I’m still trading everything in the Graduates and Live Trials parts of the site if you ever want to know.
Thanks for joining the community!
Well… I have always read good things about this one – never opted for it – seems I’m stupid.
Years Later I see the results are quite amazing.
Just been to their site – I cannot believe the price of this is just a few $$$
Really… Am I missing a trick here?
Of course they have much higher ROI than u cam lol