Trading Robot Reviews - MT5

I will be posting results and feedback on commercially available Trading Robots that I have myself been testing - some on demo and some live accounts. I have been developing bots for some time and whilst I wait until they complete solid forward live testing I will be turning my attention to help others avoid costly mistakes of purchasing losing or risky bots. I won't be selling my own work so dont ask .. and I dont get any kickbacks for anything mentioned in this thread. I can imagine some vendors are not going to like this thread (if their bot is rubbish that is). I hope I can deliver some value to FF by exposing the fraudsters and supporting the genuine bot developers.

Criteria: MT5 only (for now)
All else goes. I will setup the bot on one of my VPS and outline the assets and timeframes etc when I make posts. I will create trade explorers for them but I dont know how often I will post.

I will maintain the list here:
1) Galileo FX Bot


PS : Can't quite remember why I was labelled a commercial member - not selling anything here.

First bot up is the Galileo FX Bot. They seem to be advertising a lot and have a heavy and refined support team (too many comms). First impressions are not good - they boast of allowing various risk settings and other simple parameters but by running the bot in MT5 and optimising its seems to be simply curve fitting. The settings they give on their website dont work - more on that later.

Demo testing status: in progress
Live testing status: not started
Verdict: nil
Scam Sensory: High
Trade Explorer: FXQU_GalileoFXBot_1

Whilst the profit increases it was by pure luck .. the bot did not close out any trades prior to the high impact news.

at this stage I agree ... I am annoyed that we cant get a refund and hence this test. The TP and SL are changeable and can be optimised. I see the problem as the system out of the box doesn't work. They want you to continually optimise the settings then fool yourself into believing you have a good setup but in fact you have just done a classic curve fit and you will be lucky for sometime (perhaps) then the bot fails. The bot settings I am using is from running the optimiser for this year across the majors. I expect this bot to eventually fail.

Another flaw .. there is no setting to close all open positions over the weekend nor to sit out any news events. There was a news article on finzennews claiming this bot has AI - thats a lie based on the actual vendor's website. Here is the article : https://finzennews.com/news/index.php?#

I will start on bot #2 shortly.

yeh I dont quite know what the signal generation is .. it is definitely counter trend but what exactly I dont know. I am running settings that the optimiser discovered for those pairs and timeframes... it should have a mechanism to shut all trades if say trailing pnl is above a certain amount.

So Galileo has a ton of trades open .. no news filter and the FOMC rate decision is a big one tonight .. if the spreads blow out then the account will take a big hit but if they dont then the bot might be hedged enough to withstand big moves. Anyways we'll see.

didnt blow up the account but it did take a good sized hit - first one since inception. If someone has happened to get good results for over a year then please let me know. I still think this bot is too expensive for the functionality it gives.

Good trading bro. Keep it ip

Well this hasnt blown up yet .. its ignores news events, rollovers and weekends .. what could possibly go wrong but so far its been lucky ..

I am talking to the support lead about the curve fitting approach that the company seems to push the narrative on (without calling it curve fitting) - we'll see how this goes. I still dont believe its a safe bot to purchase but I will keep this test going. By the way the settings used are conservative.

quick update .. account hit $70k but still has a sizeable count of open positions ... still not confident this account will last .. I gave up dealing with support - gas lighting all the way .. anyways we keep going.