Expert Advisors Reviews

FX Monetizer: The Brother of the Forex Growth Bot

Today we'll be reviewing a robot that delivers some rather strong results – the FX Monetizer. I'll admit at the onset of the article that my attention regarding this expert advisor was drawn by the fact that it was programmed by Eugene L -  the author of the famous Forex Growth Bot (FGB). This is one of the most followed and commented automated trading systems on Myfxbook. And we had hard time believing that the team of AutoTrade gave the boot to the FGB in May last year. So we were very glad to know that Eugene has programmed another robot, with a different strategy and some solid results.
 
In our review of FX Monetizer we'll be using a real account linked to Myfxbook – it's with Synergy FX and has been active since January 3, 2012, which gives us more than two years of activity. But unlike its popular robotic brother FGB, the FX Monetizer is rather conservative in its trading. During this rather extensive period of time, it carried out only 177 trades. I'm also happy to tell you that the robot does not use any gambling strategies, and hence fans of traditional trading methods may rejoice. 
 
The robot trades solely with the EUR/USD and aims to generate profits from the market volatility, associated with this pair. The average duration of trades is about 12 hours, which is in tune with the mild trading approach of this piece of software. There is a hard stop loss at $50, or 25 pips, which should bring some consolation to those who shun aggressive trading.
 
You can easily see the contrast with the FGB – it trades using a very risky method, called (unofficially) pyramid building: groups of positions are opened against the trend and then closed simultaneously. The FX Monetizer trades a step at a time, with each position opened in tune with the trend. No gridding or pyramiding is in place here.
 
And now let's take a peek at the performance of this bot. It has shown an ability to deliver profits as you can see from the chart.
 
Photo credit: Myfxbook.
 
The gain after two years (with a rather humble number of trades) is significant at 133%, while the relative drawdown is modest at 8.5%. This indicates low risks of losses and results in a very good return-to-drawdown ratio of 15. The latter shows that one can expect some substantial returns in exchange for what is invested. 
 
The average pips per trade are also robust at 10, pointing to the fact that the system is capable of surviving periods of sudden market changes, while also withstanding the effects of spreads and slippage. Putting it bluntly, the trading system is stable.
 
In case you have fallen for this bot, you may purchase it from the designated website for $127. That's a humble price, compared with the tags of more than $300 we saw for the last bots (the two scalpers) we've reviewed. Moreover, the vendors of the FX Monetizer promise a money-back guarantee for 60 days, which is a good bit of news.
 
Regarding the mysterious Eugene L., I can add on a personal note that he has always replied to my e-mails, although in a laconic manner. I believe that this is due to the fact that he has been overwhelmed with work and prefers to stick to programming rather than to chit-chatting.
 
 
 
Any opinions and statements in this article are strictly subjective and should not be treated as investment advice. Forexbrokerz.com and all of its authors are not affiliates of any of the discussed signal providers, expert advisors and their vendors.
 
TAGS: fx monetizer  fx monetizer review  expert advisor  ea review  forex robot  automated trading  forex growth bot  fgb  eugene l  forex trading  eurusd  pips  stop loss  volatility  profit  return to drawdown  drawdown 
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
US, UK, Australia CFTC/NFA, FCA, ASIC MT4, Web,
Mirror Trader,
Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Australia, Singapore FCA MT4, Web,
ProRealTime,
2Dealer
$1 Review Website
UK, Cyprus FCA, CySec MT4, MT5 $5 Review Website
Cyprus CySec MT4,
proprietary
web-based
$100 Review Website
UK, Cyprus FCA, CySEC MT4, MT5,
cTrader,
SuperTrader,
FxPro Markets
$100 Review Website
Cyprus CySEC MT4, MT5 $300 Review Website
Belize IFSC MT4, MT5 $100 Review Website
UK, Cyprus, Bulgaria FCA, CySec, FSC Web $150 Review Website
Seychelles FinaCom MT4 $10 Review Website
Belize IFSC MT4, Web $500 Review Website
New Zealand FMA MT4 $1000 Review Website

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