MT5 Champion is a new Forex robot that starting to get some attention around the community. The website is very professional and presents the system as a 100% automated, fast execution software with high profit potential and very low risk. These are things we look for in a Forex robot so I’m certainly interested in learning more.
Today I will be going through the sales page and gathering as much information as I can about the EA for a detailed review.
MT5 Champion Review
So first let’s take a close look at what the MT5 Champion is offering. A single license is being sold for $189, and the double $299. For this price traders get access to the Forex EA which is now also compatible with MT4. I would like to see the MT4 version running on some accounts as well but I don’t expect there to be major discrepancies between the two. Traders get access to a detailed user guide, free updates and full-time support. When a company offers full-time support I always recommend that you email them before you place your order so that you can see how responsive they truly are. This always gives me peace of mind and it’s one of my favorite tips. In some cases I’ve had developers not respond to my emails or respond so late that it’s discouraged me from signing up and probably saved me from a major headache in the future.
MT5 Champion Strategy
I’ve seen many robots like the MT5 Champion hit the market over the past half a year. The strategy behind the system is based solely on execution speed. This is a scalping robot that makes extremely short trades. In order to take advantage of this type of EA traders would have to have a very fast internet connection. The average trade takes about 30 seconds to elapse and can provide anywhere from 0 to 5 pips. This means that the EA will also be very broker dependent because any broker with a larger spread would certainly cut into the profits drastically.
The EA trades the GBPUSD and EURUSD pairs on the M1 timeframe. The results for the system are quite impressive but there are no results available yet from the Forex trading public. At this point in time all the results are being provided by the developers of the system and from our experience that isn’t always positive. The software has been trading for about 2 1/2 months on a live trading account and shows a 93% gain.
I believe that it’s too early for us to recommend the MT5 Champion and that we should monitor its progress over the next few months. My only concern about the software is that it’s like other fast execution trading systems that I’ve seen in recent months. I have not had success with a super-fast scalper like this but that doesn’t mean that this one is destined to fail.
Please let me know your thoughts on the MT5 Champion and feel free to leave a comment with your thoughts on this robot or any other. I appreciate your contributions to Forex robot nation and hope that you have a great trading week ahead of you.