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Forex Review: Guidingstar

Today we are looking at a lesser known Forex robot, Guidingstar. This service is advertised as “a system that can bring you profit almost constantly.” This is a very different sales approach than we are used to. Normally, you will see developers push their software with much more confidence so it’s rare to a see a sales page where the headline is second guessing their ability to be consistent.

Outside of this tagline, they do claim to be reliable and proven traders that utilize competent auto risk management with a proven algorithm. The location of the offices for this product are undisclosed, but are likely in India, as the domain is a .in. Support can be contacted via guidingstarforex@gmail.com.

For our current robot tests please go here.

Guidingstar Review

The Guidingstar sales page is not what we are used to in 2017. Honestly, the website looks like it was out of date over 10 years ago. This is important because an intelligent development should have the foresight to understand their weaknesses and strengths. Building websites is clearly a weakness, and they should have gone out of their way to either utilize a theme or pay someone to put the website together for them. This wouldn’t be overly expensive and it would show the product in a much better light. This website is a 1 out of 10 in terms of professionalism.

Details:

  • Type: Forex Robot
  • Price: $97
  • Strategy: Not disclosed
  • Timeframe: M15
  • Pairs: EUR/USD

Trading Results

We are left wanting quite a bit more information from the Guidingstar developers. Thus, we have to rely quite heavily on the results being provided to get a better understanding of the software.

The results are hosted with FXBlue and show a total return of over 280% in a period of 93 days. This shows some very fast growth, alongside a 70% winning percentage. Overall, there is a gain of 676 pips throughout this period.

There are no client results available for us to analyze and discuss at this point. The only account available is provided and managed by the vendor.

User Reviews

There are only a few comments online about the Guidingstar product, and a couple of them refer to the EA as a “high risk martingale” system. This is not a positive. We do not recommend martingale trading systems here at Forex Robot Nation because they have a high probability of wiping out accounts.

Conclusion

We can’t recommend the Guidingstar EA because it goes against the principles of Forex Robot Nation. We do not recommend martingale based trading systems. Yes, with martingale you can always take your profits, before the account is blown, but that is essentially playing with a grenade that already has the pin pulled. We will watch over this product as time passes and leave it at 3 stars for now as we continue to analyze the market.

Thanks for stopping by and please let us know if you need help with anything. You can contact us any time.

Summary
Review Date
Reviewed Item
Guidingstar
Author Rating
31star1star1stargraygray

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