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Million Dollar Pips – Forex Robot Review

Million Dollar PipsMillion Dollar Pips – Forex Robot Review

Updates have been pretty frequent lately guys, I have another forex robot here to discuss. I will take a look at and break down a system called Million Dollar Pips.

See how a shockingly accurate Forex robot skyrocketed my Forex earnings to over 2 million while I kicked back and did nothing.

FRN Testing: 

From the start, there is one thing that I like about million dollar pips immediately. They are using myfxbook to prove some of their results and most people feel that this is a very reliable statistics provider. So right away how about we get into the results.

Million Dollar Pips Results

Looks pretty good, I have to say. I am surprised today is the first day I have heard about this forex robot. So lets go over some of the basic properties that make this Forex robot what it is:

  • This is an automated Forex trading robot
  • It utilizes a safe and unique scalping strategy
  • Million Dollar Pips has effective money management
  • It does not use any martingale strategies
  • It is NFA compliant

There is one oddity that I have found on the Million Dollar Pips page. This is some of the results they provided outside of myfxbook. If you scroll down the page there are some supposed live results but they stop on the 24th of May. Maybe they stopped running this account, but if they have they should have removed this from the Forex robot results.

If you have any information you would like to add to the million dollar pips review please leave a comment below. Start the discussion and we will find out exactly what this million dollar pips system is all about. Let me know if you need any help!

Try Million Dollar Pips

Million Dollar Pips

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their investment goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

144 comments

  1. Hello Andrew,

    Mr. Morrison would be the best to explain his systems diagnostics….ThinkForest may have an ECN but is your demo/live account an ECN ??…In Finfx demo it asks whether you want to use the Finfx ECN demo account …So if commisions are not being taken out then it’s not an ECN account with its low spreads…Check that you have Stop order and Hard stop trailing = true

  2. RTRT,
    Not noticed it before but on the chart there are messages saying ECN Entry condtions failed, Exit conditions failed and Conditions for order modification time failed. How to change this? ThinkForex is an ECN broker.
    Thanks,
    Andrew

  3. Spoke too soon…Another EurUsd spike…Demo account now $38,800

  4. Hello Doris/Andrew,

    I’m back on Finfx demo ECN account…Started 2 weeks and a day….w/$5000 currently $28,900….This includes the immediate $1248 loss I wrote of before…I did get an 16% requote error yesterday at one point…..No finances to go live at the moment, missing out on the best MDP week in history….

    Andrew, the only thing I can think of is the settings and possible requote errors…How are their spreads in comparison to Finfx, which is an ECN demo, taking commissions and still profiting wildly ??

    I’m using level 2, channels 4, max orders 8…optomistic, funky exits false trailing 5 hardstop and trailing true….

  5. Hi RtRT/Doris,
    I’ve been using v1.1.6 on a live ThinkForex account (their recommended broker) using default settings, and it’s consistently lost me money. Contacted Wm Morrison and his reply was they used default settings on their accounts and EA was working for other people. That doesn’t help. Any suggestions?

  6. Hi Doris, Do you experience requotes with GoMarkets. They say no requotes..ever! on their website.

  7. RTRT, I’ve also noticed the requote. But I’ll stay with them till I recover my losses, and may be I’ll switch to ThinkForex standard..as they claim is the same as its demo on price & speed. Hope that’s true…then I don’t have to “copy” my trades…& free use of their VPS. Please continue to share your live results with Finfx….

  8. Thanks Doris, but as mentioned in my previous letters, I’m out with Hotforex….If you have 1.1.6 look at the requote errors…This is a problem with HF verses nearly 0 requote errors on Finfx…Also on HF they withdrawed my “bonus” when they wanted to, so I do not trust them anymore….

  9. RussellB, the personal trade copier can be downloaded from: http://www.mt4i.com/personaltradecopier.aspx, but you need to register to download.

    RTRT, I’ve changed my Hotforex standard to currenex and bought an additional license to run on it, setting to level 0 didn’t open any trade, setting to level 1 open trades but less than myfxbook…although in profit but not so satisfy..worser than my GoMarkets account (setting to level 2..additional channel to 4). I finally switched it to Thinkforex demo and “copy” to Hotforex currenex (real) last Friday…results seems fine. Although not 100% match with myfxbook, results are more satisfy than run on Hotforex. May be you can give it a try.

  10. Make that -$1248.18 to be exact….0-12 on Eurusd

  11. A quick -$1530 on Finfx demo…Since Finfx opens 1 hr earlier than most…..

  12. Thanks Jim S.

    Very interested in your live account results….I lost my Hotforex 2 weeks ago…Have been using Finfx for these 2 weeks, going from $5000 to $23,000 with both EurUsd and UsdJpy EA’s….The Usdjpy plays less but is more accurate…Last week was the best demo week ever and have you see the increase on their fxbook page ?? Note that these results I received were on a ECN demo…It did not do as well on the non ECN live account I had before with Finfx… I hope to get on the Currenex Finfx account later…

  13. HI;
    All I can say about MDP is “OMG”. I bought MDP on Aug. 3 at 5:00 pm and installed it on Finfx demo account ($5000.00) .
    With the eception of some minor adj. to settings it has proformed great. It has placed 67 trades (15 of them losers but small) and has increased the $5000.00 account to $8161.00 in just 48 hours. That is a 61.1% increase. WOW, I can’t beleive it either but it’s true.
    I am opening a live account and I have purchased the USD/JYP EA and I hope it works as well.

  14. Ral, I went to the link of your trade copier, but link is no longer valid. Is a valid link available?
    I just bought the software today.
    What version are you using with good success?

    Cheers

  15. Your welcome admin.
    Doris, Did you study the manual yet?. Are your trades not copying because you fiddled with some settings. What pairs did you use for the sender and receiver respectively. Settings for BroadcastAllOrdersAtMarket and TRadeAllOrdersAtMarket would differ with brokers. If you study the manual properly you would know what settings are best for your broker combination. Cheers

  16. I’ve also tried it a little bit..it worked (not all trades copied)..but was troubled by the settings. HeartbeatPeriodSeconds: 1? TradeWatchFrequencyMS:10? BroadcastAllOrdersAtMarket & TradeAllOrdersAtMarket: true?

    Ral, will really appreciate if you can share your settings.

  17. Looks good Ral, thanks for that.

  18. Here I have uploaded trade copier .Manual is included It is free and is far better than most of those paid ones. automatically remove suffix and prefix, adjust broker time differences and so on. Copies trades in less than one second, and can copy from investor password logged in account. Enjoy !!

  19. MDP has added another recommended broker Pepperstone..anyone can share result using this broker?

    Ral, what copier are you using? I think it will be great if MDP can offer master/slave service..but that may have a monthly fee incurred. I don’t mind my trades not exactly match with myfxbook, have profit is my target…so just need to find a broker that can profit using MDP.

  20. HI Doris, Results rarely varies. However it depends on the EA. A high speed EA like MDP requires a high speed copier. a pair with very good tick an so on.

  21. http://www.forexcopier.com/Home/Purchase
    This copier at USD$149 would seem to be the answer for getting productive MDP trades from a frisky and profitable demo account across to your live account on the same (or a distant) computer – and supposedly within 0.5 seconds. The live real money account can be with the same or a different broker.
    If anybody uses it to generate a live (from demo) trade, can they report here? There is a demo version available but it has some restrictions on its trading capabilities. It may however give one an idea of what could be expected from a transcription of those potentially productive MDP DEMO trades to a live real money account.

  22. Hi,

    I am interested in buying this piece of software. I am interested to know what broker would you recommend using with it?

    I live in Australia by the way if location/citizenship is a consideration.

    Thanks,

  23. Ral, I’ve also considered to use your method before, just don’t know whether it’ll work..as different brokers have different spreads. Can you share your results using this method?

    So far, my live GoMarkets account seems working fine with MDP, at least in profit around USD100 till now (http://www.mt4i.com/users/ombhrum)..click Stats-EA..Magic#112226.

  24. US citizens not allowed on Thinkforex, but many ideas opened up to me….Thanks Ral

  25. Demo is ThinkForex

  26. My live account is with Exness and Hotforex. I use “meta trader account copier”, the fastest i know. Lot size can be changed from the trade copier settings. You can download and try the copier from 4shared but its a demo version and would only copy buy orders.

  27. Very interesting…What demo and live accounts are you using ?? What trade copier are you using ??? Does it copy the same lot sizes over to the live account ???

  28. Hello Guys,
    From experience this bot works best on demo account. So i use it on demo account with a trade copier..SO when trades are place on demo account they are copied to my life account Instantly. I think it is best that way.

  29. Hello Tom,

    Was your amount of trades close to the fxbook posted on website ???
    I’m not too happy with 1.1.5 and I wrote Mr Morrison and told him it was the worst…No comments in response…I also told him that I’m looking forward to 1.1.6 ….I suspect I may be having problems with my Hotforex MT4 so, I plan to download a fresh MT4 this weekend…

  30. I started a real ECN account with FinFX because my demo account with them had done so well. 5 days later I’m at a loss of $945.00 on the real account but, the demo has increased $200.00. I’m using v1.1.5 of MDP and trading with the default settings. This EA seems to only work on a demo account!

  31. My thinking too for Finfx…The ECN is Currenex so it should be the same…I had a micro account and the spreads were not great….Yes, there commission is lower….I needed a $2500 account to start ECN that is why I switched to Hotforex…I hope to be back, using another license…I never kept copies of previous versions of MDP, so I was updating each time…1.1.3 didn’t have USDJPY so I couldn’t use both until 1.1.4…I excepted each version to improve, but I think 1.1.3 was the best so far….I’m sure he’ll bring the next version up to speed if enough customers speak up….

  32. I also have the same question, 1.1.4 & 1.1.5 didn’t open any trade on my live hotforex standard account but many trade when using 1.1.3…it’s better after I switched to Gomarkets. Doesn’t Finfx have low spreads? Yours–ECN account?…I’m thinking to open a Finfx ECN and buy an additional license to run on it to see if the results match…Although I can change my existing hotforex standard to currenex, the commission seems higher than Finfx.
    My live account for your reference: http://www.mt4i.com/users/ombhrum

  33. Just as I said in previous letter…I wrote Morrison with the same message…Only 1 MDP Eurusd at a time….Something is very wrong….When I was on 1.1.3 I was getting more than the fxbook results…1.1.4 and 1.1.5 only 1 at a time…When I was on Finfx I was getting almost 1 for 1 trades with fxbook, except more losses since it had higher spreads…

  34. I’ve changed level to 3 with additional channels set to 4…still only 6 trades open on my live (ended up with small profit) vs almost 30 trades shown on myfxbook (just today)…crazy…How many trades you open today on Currenex? If matched with myfxbook…then a big profit to cover your loss the other day.

  35. Just went 0 for 5 on USDJPY and 2 for 2 on Eurusd net -$20

  36. My misfortune was on EURUSD….USDJPY hasn’t played since the 6/30….Missing many trades on Eurusd at level 2…Only 1 trade for -$6 yesterday…No response on what happened the other day…My best guess was that it was a no-no during a backtest while the live account is on at the same time….My reason was that for any new version, I like to backtest them to see what has changed profit wise…I am reluctant to go to level 4 because the profit factor goes down, the winning percentage goes down and I’m paying commisions that brings the overall profit down per trade….

  37. Sorry to hear about that, did it stuck on EUR/USD or USD/JPY or both sets? I’m considering to buy the USD/JPY set…hope you can share your results here.
    GoMarkets missed profitable trades today – only two 12:52 trades opened but closed at small loss–profit shown on fxbook is due to low spreads? I’m wondering whether the missed ones are due to “Additional Channels”..I’ve just changed it to 4 and wait next trade to see…although William said fxbook’s setting is default…
    Hotforex Currenex running ok for MDP? Will change my existing Hotforex standard to currenex account next week..and continue testing live with low risk level first….

  38. Terrible morning….Somehow my Hotforex platform got stuck on one spot of the charts…It must have hit an order loop, made 41 orders, loss $300 and would be still ordering had I not checked on it this early morning and turned it off….So this morning I checked and saw that it was using up a lot of memory so I closed and re-opened the terminal to get it back to normal…I wrote this to Mr Morrison and I am awaiting an answer…Until this happened it was ordering less than the fxbook…I’m hoping this was just a fluke, but there goes my bonus…

  39. Finally switched MDP to GoMarkets (EUR/USD spread 1.1-1.4, they don’t charge commission) & changed the level to 3, risk to 0.1 (trade with 0.02 lot). 1st day 5 trades opened (vs 10 trades showed on myfxbook) profit USD6, result seems OK & better than HotForex standard but still can’t match with its myfxbook trades. Will increase the risk level.

  40. Another note…Take into account that Currenex has the lowest spreads, but with commission..Also the bonus is a factor that has to be paid off…..With Currenex plus the commission seems to be equivalent the spread of the standard account….

  41. I’m on Hot forex Currenex…It does very well, but it has missed enough trades compared to the demo account on fxbook…I’ll move it to level 3 and see if that makes a difference…With the new doubling of orders plus the max orders and order levels, it should have more trades than the fxbook…On 1.1.3 the Eurusd use to trade more than the fxbook even at level 2…The usdjpy did 5 sets of 2 so I know the doubling works for the usdjpy…The eurusd did only 1 order so far…

  42. New version 1.1.4 for EURUSD didn’t open any trade on my broker HotForex (standard) but its myfxbook open many profitable trades. I will try to switch to GoMarkets after funding next week, see if it can improve.

  43. Good day so far on USDJPY, finally played with new version…10 for 10 $65 on small < $1000 account……5 sets of orders…..Eurusd 1 order $21.06

  44. It is internal and it goes so fast, when it does trade the EurUsd , you are at the mercy of the EA….I have the usdjpy but it doesn’t play much…I just got the new updates, so we’ll see how it goes…

  45. Does this one trade with a Stoploss or is it internal? Also, did anyone purchase the UsdJpy version?

  46. I’m using standard account with HotForex, spreads of EUR/USD is around 1.7-1.9. I use default settings just alter the risk to 0.5 (as I still have other EAs running, just don’t want to risk too much). So far seems fine with HotForex just with less trades. I’ve email William (MDP), he recommends brokers with spreads around 1-1.4 to work best with MDP. I appreciate William (MDP) keeps improving his EAs and updating the version to make it works on as many brokers as possible.

  47. Hotforex is strange, but MDP seems to work very well on it.
    Started this week with €90 and at this moment i’m up by €41. (real account)
    thinkforex (real) also works fine, a lot more trades but not so profitable, there are much more losers between the trades. 1 actually think the latency is helping us out @hotforex.
    BTW the myfxbook link is from a DEMO account so you will never get the same results on a real money account.
    Support is BEST EVER! many nice updates and fast reply’s.
    Looks like the real deal here!
    Happy trading 🙂

  48. Doris, do you trust Hotforex ??? I am in Finfx, and it is losing because of the high spreads(18-24) pips….Does this work with Standard account in Hotforex ??? Or do you have Currennex ?

    Thinkforex does not accept US citizens…..I’ve heard that their free VPS gives them too much power over your account….

    Yes the potential for MDP is good…

  49. I’ve bought it last week. So far so good, but may be due to my broker (Hotforex) or VPS’s latency, some trades are missed (compared to their myfxbook: http://www.myfxbook.com/members/milliondpips/million-dollar-pips/114107). But the overall results are quite impressive. Therefore I’m thinking to open account with its other recommended broker – Thinkforex which have free VPS with no latency.
    Also, the support is good, emails are replied within few hours.

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