Amaze is a Forex robot that comes with a built-in news filter to avoid trading in poor market conditions. Traders can use a virtual stop loss or take profit with their positions. It is possible to use the system with a minimum deposit of $100 and a leverage of 1:500. Let us go through various other features of the EA to determine whether it is a good trading tool to invest in.
Anton Kondratev is the author of the EA who resides in Russia. He has a total of 4 signals published in the MQL 5 marketplace and has no trading experience. The rating for the author stands at 4 for 33 feedback. Investors can contact the developer by sending him a message on the MQL 5 marketplace.
Investors can buy Amaze MT5 for $345. There are no return or exchange policies available for this robot, making the purchase less promising. The algorithm is costly compared to others in the market.
The developer accepts payment by many means including Visa card, Paypal, Unionpay, and Webmoney.
Some of the major features of Amaze are given below:
- The algorithm has built-in protection against broker slippage, gaps, repetitive levels, and high speeds.
- The EA has the in-built quality of analyzing the broker and adapting independently to gaps and slippage.
- Amaze is an open system enabling users to choose the settings which suit them best corresponding to each currency.
- It has the main currency pair of EURUSD and other instruments, including AUDUSD, GBPUSD, and USDJPY.
Amaze trading approach
The developer states that their robot trades on multiple currency pairs, and each trade comes with a fixed stop loss and take profit. Traders can use the virtual and trailing stop if they wish. News filters and averaging options are also at hand.
The company has not provided any information about the dates for any backtesting records, which is a liability. For the currency, EURUSD, gross profit remained $297987.24 while no statistics are available for gross loss. The total net profit was found to be $282117.87. There is a huge percentage of profit trade at 99.76%. Balance drawdown is 0.65% compared to equity drawdown of 20.96%.
Amaze live trading results
It is key for every developer to provide live trading results. The records on the MQL 5 marketplace start from 24 March 2022. Within this short duration, the algorithm had a drawdown of 9.8% and a total gain of 13%. There were 38 trades where the best execution was $16.86 while the worst one was -$9.61.
What are the risks with Amaze?
Some of the risks associated with Amaze include.
Short history of live records
The live records present on the MQL 5 marketplace were started from 24 March 2022. This is not enough to gauge the true output of the system.
A little information regarding the developers is available on the site. They do not provide us with email support, details about the author, and their contact numbers.
Amaze is not supported by any customer review on famous sites like Trustpilot or Forex Peace Army. This is extremely unfortunate about the Amaze as we cannot know what the general community feels about the product.
On MQL 5 marketplace, one of the traders states that he is only losing money with the robot so far.
What are the pros and cons of investing in Amaze?
|The EA is completely automated||There are no reviews available for Amaze on Trustpilot or Forex Peace Army|
|It does not use grid or martingale strategies||No detailed statement for backtesting records|
|It requires a high leverage of 1:500|
Amaze has trading records for a short duration on the MQL 5 marketplace, and there is little information on the strategy. Furthermore, there are no customer reviews on any established websites. The reviews on MQL 5 are also not good.