The purpose of this page is to encourage and collect the user reviews of a Forex product called Million Dollar Pips. To get the details about this product (such as its features) or if you’re looking for support, please visit the official website that can be found at milliondollarpips.com.
Below are the current reviews of Million Dollar Pips. It is possible that at the time you’re reading this page there are no reviews yet. Because they come from real users, it may take some time for the first reviews to appear. Please bookmark this page and come back regularly to check for new reviews.
If you have experience with Million Dollar Pips, please leave a short review or comments with your feedback (please follow the posting rules). It will help other users to decide. Thanks!
If you want to submit a Forex product that is not already listed on this site for user comments and review, use the submission form.
142 thoughts on “Million Dollar Pips”
This software was recommended to me by someone I have bought other products from and some of these product seem to be OK .
It can only be used on one account.It has been operating for three days now.It opened one trade on Monday night for loss of 1 pip and it opened another trade Tuesday night for another loss of 5 pips.Today it has not opened any trades.
I had to update my trading platforms because after installing it and clicking OK each of my 4 platforms crashed .After I had updated the M4 platforms the software functioned.It is on one platform (Alpari demo) now.
I hope you can use this information.
I am not so happy with this performance but it may need some more time.
All the best .
I have purchased his product base of the FPA demo review..I started his EA on late monday night and it hasn’t made any trade since then…I send out an email to him and he said the EA did not made trade on tuesday plus I am using WIDE spread broker and he told to use the lowest spread possible for this EA..
This EA takes about 4-7 pips and stops..so as u can see if you got a spread 2-4 than this EA won’t make any money for you..
He also send out email today that he is working updating his MDP EA.
Stick around folks I gotta find a low spread broker…
Well, I kind of had my suspicions about this EA. This guy is talking about making millions with a bot that scalps 4 or 5 pips and only trades a few times. I think I will pass on this hyped up garbage
It finally made a trade..Out of 3 trades 2 won and 1 lost..
High spread is a killer…
I suggest you use FIXED low spread broker…Don’t use this on OANDA broker it might hurt as you as they increase the spread to 10 during news hour…
Does anyone have any suggestions for a decent broker? I have been using FXDD but cannot bring myself to trade live with them after they spiked me out of a trade for 840$
hi. good broker is finfx but olsou i recomend liteforex.mx have a relative good spread…..
You don’t have to believe my words…
This robot works…FOR NOW…so grab it before it becomes another fabturbo or megadroid…
Got an email saying they will be upgrading to more stable ones…
I recommend brokers like LOYAL FOREX .09 Fixed Spreads..Hotforex Currenex is good but they got high commission…Duckascopy..
I believe all ECN brokers with low spreads will work perfectly…
I don’t recommend liteforex as they have 3 spreads in eur/usd..Not good for the this EA…
liteforex.mx in floating spread.
this robot really works. just note that use it on low spread brokers.
the support is real quick, easy setup. you can limit lowest and highest volume for trading even setup your own risk level.
further more you can set its trading level as well.
this is really awesome the price is very much decent i heard that they will soon going to increase the price.
Here an update with my experience wit MDP.
After my last comment(see #1) it opened several trades and the results are astonishing= good.In under 5 days it made 14 % of the the deposit………….but on a demo account (Alpari).
I read on the net that a demo results does not mean a thing so now after being very happy with this results I do not know what to think of it.
So I am going to wait before opening a live account and try and find someone who can tell me results on a live account.
The vendor recommends FinFx and HotForex for brokes.
Good luck to you all,Alfred
Anyone else with results? I would like to see more results before buying. Is running very profitable on Best Forex Robots site.
its working well with low order number if u got commission based broker with ultra low spread…don’t increase trade frequency and order number..u will lose money if you do that…
Anyone has try this bot on real account? Because not all bot working well on real account. Thank you
Don’t buy it now as they have upgraded to a new version which is 10 times worse than the previous version…I used it on live account and stopped it last week.
works well with vps server, at still trying it on demo , so far its good
I do not know all your whole story but mine is true and real
I have setup mine robot to work well depending the parameter of the trading strategy of this Bot
I use a vps
I use IamFx (just the commission I hate to pay for them)
but the speed of execution is fast and I can also use a free vps with them if I want . B ecause of me they now know how to instal MDP in their VPS but I did not use it yet.
I use my personnal setup and guest what
For my first month ( hope it will be always like this way)
I have transformed 187 $ into 400 $
Unfortunatly my last trade removed 30 from 430 but it is still great.
My personnal goals is to stay around 1.6 to 2X profit by month .
I’ve used it live for 10 days and have changed settings a number of times
So far my $1200 is $1316
I’m sceptical like the next person , so next few weeks will be the real test
Hi Guys ,I puchased million dollar pips cos its showing good results on FPA . after installed mine it never worked on my broker FPa . Replies to my e-mail came ver late 6- 10 days from william morrison .
I opended a dispute to claim my 30 day money back guarantee
it was rejected by paypal and MDP
so i have a not working robot and lost 99 usd
stay away from this guys
hope william reads this and respond to it ….
I have used it for 13 days now and im up 44%
Sorry Id ont know why some of you are having problems, try using ThinkForex, stick to settings suggested use a VPS and I cant see why you guys are getting same results in a live account
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 $8161.00 in just 48 hours. That is a 61.1% increase. WOW, I can’t beleive it either but it’s true.
I am opening a live account and I have purchased the USD/JAP EA and I hope it works as well.
You people are total rim jockey’s. Learn how to trade yourselves before you let some piece of cheap code do it for you. I will guarantee you that your profits will be wiped out eventually (as is the case with all EA’s) Your “bots” are just catching the volatility due to the situation in the US……
BTW…anyone serious about trading will not use some lame EA, or a bucketshop broker (they love you newbies!) for that matter Your wee lil 100$ accounts will be cleaned out in no time!
To Jim S:
Let us know your live results with an update on this site.
Have you seen the bestforexrobots.net site which documents the results of a real running MDP account. So far the results from this site (92% monthly gain) seem to match your demo account results. I don’t know though if this account on this site is demo or real. I agree this seems to good to be true!
Thanks in advance for your reply post.
Ive been using demo and live for almost 2 months and rarely a losing day, the volatility you claims has been last few days not last 2 months
This is a scalping bot, learn how it owrks before writing useless crap comments
Tried MDP for a month on my $30,000 live acct, starting from 0.01% risk to 0.1% risk, and finally to 1% risk since Aug 7. Yesterday, it delivered me $1,500, and today it again $4,500. The tight stoploss makes the winning trader always bigger than losing trader, unlike some scrapper losing trade is 100 times bigger than losing trade. So far so good. Better than my paid monthly service autopipprofit which made me lost $30,000 in a month.
I agree eventually I need to trade my acct by myself in order to get long term profit. But my skill now is not as good as a robot right now. So I am learning MQL4 by myself and hopefully some day I can make my own robot.
Here is an update on my $5000.00 demo. As of 8:30 am est. MDP has made 173 trades anjd now has $16508.87 in it. Not bad for 4 trading days.
I installed USD/JYP over the weekend. It has traded 17 times with 2 losers.
Here is what I have learned about the way this bot trades.
1. You have to run ECN account.
2. As tite a spread you can find.
3. MDP will take you out of a trade sometimes before SL is hit.
All thigs said it has really impressed me. I have been trading Forex for 6 years and I don’t use EA’s but this had a good risk reward ratio.
I go on line with a live account Friday. I will keep you all informed.
I installed the main product (EURUSD) early on August 8. I’m using the default settings apart from the min and max lot sizes. Not a single trade on the 8th, 50 trades on the 9th, and today (Aug 10th) just two trades. Looking at their mt4i page, there are many, MANY trades every day.
I run this on a demo ECN account at FinFx.
Since your system brought you 173 trades in four days, what setting are you using?
To Jim S;
Yes please keep us informed of your results on the live account. Do all brokers have an ECN set-up? Which broker are you using and what is their spread for EURUSD?
Here is an updat:
Live account is set up but I’m having a small problem funding. I wired 3K but they returned it. I used my company account instead of personal. I hope to get it taken care of by Wed.
MDP was switched to live account on Thur. morning so it did not trade demo account Thur. or Fri.
As of Thur. morn. it had 234 trades. A paste of report is below.
Broker is FinFx ECN account. I will updat soon.
Ticket Open Time Type Size Item Price S / L T / P Market Price
Deposit/Withdrawal: 5 000.00 Credit Facility: 0.00
Closed Trade P/L: 14 442.03 Floating P/L: 0.00 Margin: 0.00
Balance: 19 442.03 Equity: 19 442.03 Free Margin: 19 442.03
Gross Profit: 19 558.72 Gross Loss: 5 116.69 Total Net Profit: 14 442.03
Profit Factor: 3.82 Expected Payoff: 61.72
Absolute Drawdown: 0.00 Maximal Drawdown: 1 372.28 (7.34%) Relative Drawdown: 11.29% (925.65)
Total Trades: 234 Short Positions (won %): 210 (60.48%) Long Positions (won %): 24 (66.67%)
Profit Trades (% of total): 143 (61.11%) Loss trades (% of total): 91 (38.89%)
Largest profit trade: 1 018.93 loss trade: -226.98
Average profit trade: 136.77 loss trade: -56.23
Maximum consecutive wins ($): 16 (5 518.29) consecutive losses ($): 23 (-925.65)
Maximal consecutive profit (count): 5 518.29 (16) consecutive loss (count): -1 372.28 (8)
Average consecutive wins: 7 consecutive losses: 5
Rick, could you tell us what version and what settings are you using?
For those guys who made money with their live account, could you please share the settings and broker you are using? Thanks.
I use ThinkForex and my setting are
number of orders 1
additional channels 3
max sim orders 8
I hope this helps
I had 4,8,3,8 at one stage , lots of trades BUT risky and more losing trades
These settings work well for me, rarely a losing day in 2 weeks
im using thinkforex n MDP too.
after installing 3 days ago with a live acc of 1000 initial deposit, it only trade twice a day, lowest 1 trade.
Am trying your 1,3,2,8 settings now but seems like nothing much yet….
any other advice?
anyway i’m a beginner in all this forex.
I have been using MDP on a live account for about two weeks. It has traded rarely, less than four times, all with a burst of trades within a few minutes. Two times traded with repeated losses, -$100 to -$200 for four consecutive trades, and once for profits of $20 to $30 for five consecutive trades. It appears to only trade on very high spikes in EUR/USD. I have not gotten much help from William Morrisson (or who ever), although he answers my email promptly. I believe the Robot has potential, but the settings, Broker, etc. are apparently criticl, and I have not found the right ones yet. My results do not appear to be as favorable as some of the earlier comments. Any suggestions from other users would be appreciated.
hi guys, i have just purchased MDP and installed it today monday 22/08/2011 on fxpro broker,it seems the new version is very good the installation is okay, but i put FIFO false and the remain settings on default.please help me out i dont know if things will work this way. and if there is any things more to do please help me out on this.looking forward for yourv reply.
i discovered that the robot write ECN condition failed but all other things are okay, please what do you people feel about this. looking up to you guys.
The secret of making a good scalper EA really profitable is to first use an ECN broker. Google ecn brokers. The other thing is to have it on a VPS in the same city as the brokers server. Latency is very important, the time it takes the signal to go from the brokers server is critical when scalping (ask them where their server is located, it is often in a different city to the brokers office) Ask the potential virual server company to ping the brokers IP address for you. They will happily do that for you before you decide. You should get a latency of well below 12 ms. Do this and you will experience vastly improved profits from any scalper EA.
I am using ThinkForex MT4 Pro. MDP setting is using default except risk is 1%. Here is my live acct performance for last 3 weeks:
Aug 07-12: 16%
Aug 14-19: 0.8%
Aug 21-25 8am: -0.2%
USDJPY:(purchased last week)
Aug 21-25 8am: 3.4%
Though it is profitable, it looks like both EAs trade very rarely, about 1 or 2 trade per week.
Is there anyone using FinFx? How is MDP performance on that broker? I am considering switching to FixFX.
i am using MDP on iamfx broker with no problem with profitable trades, set FIFO TO False MSO= 4 Risk= 1.5 set rest parameters to default, i am running on DEMO, Unfortunately i have no internet service from ISP Thanks to technical glitch, it was only working fine once again from Thursday
Dear folks, i bought MDP 10 Days ago but i have an issue with internet connection right after i attached it to chart!. From Thursday internet was working fine once again, On 25th August MDP traded 26 trades with 18 wins and only 6 losers!
Please be advised that 26 trades happened on 25th and 26th August, i forgot to add day 26 August in last comment Thanks.
have just installed MDP on a live thinkforex account yeterday and it traded 8 times this morning 6 wins ,2 losses so am a few pips up already.i use default settings but they seem unusual in that the no: of trades is 0 !. add cha is 1 max sim is 8 slip 3. how can number of trades be 0 ?
Can you share with us your settings – MDP version – and broker?
Started today with 300 eur (account is 291 because of commission) on Pepperstone razor account.
Setting is default with 4 additional channels, and FIFO=false, min lots=0.01, max lots=10.
Will share results at the end of each week
Well I have used MDP now and when I first loaded it on a MT4 demo it made a few good trades and increased my account by 21% in just 4 days. It traded only on large spikes. I have since moved to a ECN demo with FinFX hoping it would trade more frequently not on large spikes. I have used the inputs suggested above, but it will not make any trades. FinFX has very low spreads. Any suggestions? I will keep you posted.
On last 3 days MDP has traded not so great, maybe market had not optimal conditions…previous days was strongly better so is correct you see better results on demo account that traded previous days…
Each “trade” is composed of various positions (1 to 5) opened in a few seconds :
1 trade at 10.59 of 31 aug. (maybe time is different because local time), with cumulative small loss (near pair)
2 trade at 17.00 and 17.15 of 1 sept., with cumulative loss
1 trade at 15.43 of 2 sept, with cumulative gain.
At the end of week I have a loss of 17.40 eur on starting amount of 291 (near -6%)
Pepperstone account has demonstrated a not great execution speed (mean 2.3 sec, with max above 4 sec!!!), but I can see a good correlation with MDP account results on Think Forex (near same opened positions, near same gain/loss percentual)
Finfx is not recomended from MDP creator, maybe on ThinkForex you will have better results.
am on thinkforex live and do not get better results.hardly trades at all and when it does it often loses. i will let it run one week more and then will ask for money back.this definately does not live up to the massive claims or any where near.will stick to my regular proven ea which is up over 700 pips in last two months.
Would you be so kind as to let us know what is the EA you are using that mafe you 700 pips in the last 2 months?
sure Fco, i use forex overdrive on sml live.default risk settings.
In the past three days on Pepperstone live account MDP has traded great, like a cold-blood trader, and has well recovered losses of past week.
Now account is increased near 10% (near 10 days) from 291 to 325 eur.
MDP on Pepperstone seems has performed better than MDP statement page on Thinkforex live account… maybe because of high latency (average 2000 msec)?
Let’s see next days!
MDP seems to be programmed to trade on spikes and large movement of price. I did not understand this before. I am using a demo account on FinFx and started with $10,000 yesterday. This morning when I checked, the account was up to $22,460 a gain of $12,460. This may be unusual so I will keep monitoring and see what happens. Average execution time is 287ms and I am not using a VPS. Is this an acceptable execution time? It made 136 trades in about 5 hours on two large spikes.
Your AVG execution time seems very good, on Pepperstone LIVE I have a mean about 3000 msec (near 3 seconds!)… but need to check on real account (on demo account execution is fastest) because of no real transaction!
MDP on Pepperstone live account:
31 aug 291.00
07 sep 361.72
cumulative profit is 70.72€ in near 8 days (with 2 no-work days). =+24% in 5 working days
statement on MDP page (Thinkforex account) reflect lowest profit:
31 aug 26484.45
07 sep 29064.34
cumulative profit is 2580 is near +10%
Actual data on Pepperstone live account, based on near 50 operations:
Avg. exec. time 1111 ms, Avg open time 3848 ms, Avg modify time 1053 Avg. num requotes 2.00 per transaction
Anyone can share data on live account?
I started with FinFx ECN demo account on Sept 5th with $10,000 as of now Sept 8th my account is up to $44,556. This is unbelievable. I have tweaked the settings and thus far no problems. Average execution time is 303ms without using a VPS.I will continue to test MDP and open a live account if positive results continue.
Free Margin is too low: Channal is off. Real account 400$
I have to do.
I think real account will not have a so fast execution during the fast movements, some broker needs till 5-6 sec.
Today MDP has traded not so good (on Thinkforex MDP page ig gone much better), think the problem is the latency in execution live orders.
I tried MDP on a FinFx ECN demo account for a month and went from 3,000 to a head spinning 14,000 EUR! So when turning over to a live account on Sept 7 I was just waiting for the money to flood my account. Well, I lowered my expectations quite a bit, but…
Then, the unexpected happended, my live account lost 20% in just two days! Holy Grail turned to Holy sh*t! Couldn’t really believe it. Not even plain rotten EAs I’ve tried lost me that much that fast.
My demo account was just about as well performing as the reference account at mt4i. Sometimes better, sometimes not as good, but the trades’ times that I had, corresponded to the ref account quite well. The live trades now also corresponds well to the ref, apart from the profit.
I’ll give it another chance. I’ll turn back to default settings (numorder_levels=0, add_channels=1) where I used to have settings 4 and 8 resp. Also, I’ll have at most 4 simultaneous trades and bring down lot size to max 0.2.
If this doesn’t work out, I might give Pepperstone a try, which is a recommended broker for MDP.
I had some losses on live acc yesterday, but is normal some loss in the long run.
Watch what average execution time you have on demo and live account, I think the difference is there (maybe you need to set “true” settings on MDP “Diagnostic”, “Debug” and “Verbose”.
My Avg. execution time on Pepperstone LIVE acc. is 2735 msec, more than 290-300 msec you can have on DEMO acc…
Maybe should be a good idea to activate a ThinkForex acc. with free on-site VPS, should reduce latency, but needs 2500 of deposit.
Below is the chat I had with FinFx today.
13:32 Joni has joined the chat.
Joni | 13:32
Hi, how may I help you Louis A?
Louis A| 13:33
I am running a demo account with you and have an average execution time of 320 milli seconds. Should I get the same on a live account?
Joni | 13:35
It should be very close. Naturally the live server sends the request for the markets to get filled and it will add to the time.
Louis A | 13:36
Where is your live server located?
Joni | 13:36
Louis A | 13:38
So the demo account is handled on a internal server which is why I get good excution times.
Joni | 13:39
With the demo accounts the servers “fill” the orders. With live the orders are sent to the markets, so there is a difference in the execution.
Louis A | 13:39
Thank you for your help, Bye
You guys are trading the Forex market and are surprised that your real-time performance doesn’t match your “demo” account? Don’t you know that the “demo” account is not real trading? Do you think the inflated market maker spreads and commissions don’t effect your profits, not to mention slippage, latency, widening spreads in fast ECN markets, etc?
seems like u r from india, me too. i want to purchase MDP, please share ur live ac trades here.
Its essential that you have low latency with any scalper. You need to have your vps in the same city as your brokers server. The brokers office and their server are often in different places. You want to know where there server is and get a vps there. I’m with Pepperstone. There server is presently in Sydney, but that will change in a few days as they are commissioning a server at the EquinixNY4 data center in NJ.
you are not going to be able to correctly evaluate a scalper EA on a demo account. It must be live with the correct server set up for any scalper like MDP. Also, you have to use an ECN broker.
Moved Pepperstone account on VPS (Ultrahosting), but results are same or lower than from my house
Avg. exec. 1111 ms
Avg. Open 3848 ms
Avg modify 1053
Requotes 02.00 per transaction
(based on near 50 operation)
Avg. exec. 2415 ms
Avg. Open 4492 ms
Avg modify 2252
Requotes 0.67 per transaction
(based on near 6 operations)
I think these are not latency in response but phisical time for order execution, and depends from broker.
I’m waiting to move Pepperstone acc. on NYC datacenter and see results.
Should be interesting evaluate free VPS on Thinkforex acc.
Anyone can share his latency data on LIVE account?
Hi, can you people tell me what vps are you using with pepperstone?
At a number of occations, my live ECN account at FinFx has faced the problem with ‘off quotes’, which means that the broker’s server couldn’t handle the order. Sometimes, a position cannot be sold and sometimes a new trade cannot be initiated. I had this problem a year ago with FXCM, where I couldn’t close an order at all from MT4 but had to phone FXCM to let them close it manually.
Tonight, at 21:54 CET (22:54 according to mt4i reference account), my MDP couldn’t take trades because of ‘off quotes’. This was very bad since those trades should have been the most profitable, according to the ref account.
Could you all please check your MT4 logs to see if you had the same problem with this trade. It is interesting to know both if other FinFx accounts had the same problem and also how other brokers managed. Thanks!
I would welcome any comments on FinFx since I am planing to fund a live account with them. Their server is in Helsinki and the nearest VPS is in London. Any comments on this situation as I will be running MDP?
I’m using Pepperstone live acc. with Ultrahosting VPN
I’m having high latency because Pepperstone is located in Australia, Ultrahosting VPS is in US.
Meanwhile Pepperstone is going to activate alternate US servers so I’m waiting for that.
Consider that from my house in Italy I have lowest latency, but I think the real problem is find a broker with very low latency in phisical execution…
Latency between servers should reach 50-100 msec, but order execution can take up to 4-5 seconds depending on broker.
I had same problem “off quotes” with Activtades…
Going to try ThinkForex account with his free VPS, but need to deposit minimum 2500 eur to have on site VPS
I purchased MDP 2 days ago. I was with FXCM, but their eur/usd spread is 3. MDP would not trade. there was a message that said “spread too high”. I canceled my account with FXCM yesterday, and opened an account with HotForex. they advertise “from .8” spread eur/usd. for the last 2 hrs since I’ve been on the live account, the spread has been 1.8, 1.9. the hotforex chat rep said a number of clients were complaining, and that tech support was working to fix it. MDP has not made one trade in nearly 12 hrs. I am using the default settings.
It’s difficult to get straight answers sometimes too. I asked hotforex when they anticipated the spread issue would be resolved. the response, “tech has been notified of the issue.” I asked if there was anyone there who could help me get MDP going. the response, “we are done from hotforex.”, and he ended the chat session.
As for MDP customer service, it’s nearly impossible to get any help. It takes several hours to 24 hours or more to get a response. the responses are a couple of sentences, and not detailed as to trouble shooting issues with specific instructions.
I am really discouraged at this point. Hot Forex says they cannot help, and there is essentially no customer service at MDP. the default setting has the “NumOrders_Level” at 0, so I don’t know if that’s an issue. Each time I open the Commons/Input window on MDP, I have to check mark the appropriate boxes in “Commons” again, and re-enter the “usename” in “Inputs”
When I was with FXCM, there was a message on the MT4 chart form MDP that, “spread too high”. It doesn’t say that with hotforex, but still no trades. I am at a total loss right now. I’m not tech savvy, but MDP should be working by now, and MDP should have some kind of real CS support for the initial set up to actual operation.
I traded MDP for 1 week and made almost as many profit positions as loss positions but larger draw downs on losses and my account is down -$485.00 on live account. I used correct money mangement.
I have requested a refund, their support people contacted me to resolve the issue, such as speed of broker transactions, spread and slippage which waer all OK but ultimately the ea just did not perform.
Have not receive refund yet but they said they would….we will see?????
i purchased the Bot from 2 days ago but it doesn’t work for me any more,i dont know whats the problem and which part i had mistake i’m using MT4 which is recommended by them, any one can help me here to adjust it ?!
A scalper with high profitability and tight stop losses.
Trades everyday/every other day.
2/3 rds profitable.
Three currency pairs available.
Largest Loss less than 2%. Using live for three weeks.
Last two weeks 47% increase on small account.
Advice – Broker’s spread will make this profitable/unprofitable.
Checks out on Birt’s EA backtesting.
Donnaforex lots of positive comments.
MyFXBook a number of good examples of profitable trading.
I got my refund from them today.
I hope somebody can give can give some answers:
1. What would be the best broker for MDP?
2. what would be the best VPS for that particular broker?
3. should the default settings be left as is?
4. if not, what would be the setting for that particular broker?
did someone actually call you? if so I would appreciate the number. After 3 trading days with plenty of opportunities on the EUR/USD 1 minute chart, still nothing. I even increased the settings on the NumOrdersLevel & Additional Channels to increase number of trades. still nada.
Gonna give it another day or 2, and throw in the towel if nothing happens. I won’t bother even asking for a refund, because my credit card company will charge back MDP, and credit my account when they are told that the product was misrepresented.
This isn’t my first rodeo with credit card disputes, so I already know my money is coming back, if & when I decide to get it. MDP will have no choice in the matter.
I hope somebody can give can give some answers:
1. What would be the best broker for MDP? HotForex Currenex is recommend for U.S. residents. the spread is well below 2 pips, but still doesn’t seem to work for MDP.
Answer: a broker with a spread under 2 pips. was told by WM it won’t work otherwise. my broker spread is .8 to 1.2 and still no trades.
2. what would be the best VPS for that particular broker?
Answer: Any VPS really should work with low spreads.
3. should the default settings be left as is?
Answer: According to WM the settings should be on default.
4. if not, what would be the setting for that particular broker?
answer: gotta get it to work first, and then experiment I guess. so far, after increasing the settings to make MDP trade more, still nothing.
I’m about to open an account (medium account with 4000$ deposit) with HotForex to use this MDP, would you tell me the reason why “HotForex Currenex is recommend for U.S. residents. the spread is well below 2 pips, but still doesn’t seem to work for MDP.”
HotForex Currenex take 5$ commission fee per 100k lot, it does mean it will add 0,5 pip spread, but if the spread is only 0,2 to 1 it still a good option.
Have you try the combo from other users like 1,3,2,8 or 4,8,3,8 magic number (as number of orders, additional channels, slippage and max sim orders) ?
1 week without a trade is really odd.
Dangerous robot, I strongly do not recommend!
It opens reverse trades on the strong price moves( buy when the price goes down and shell when it goes up) and you have to pray to the god to change the direction otherwise you loose everything.
About latency anxiety: I am using the broker Exness, go: www.exness.com/a/28520
It has low spreads, very easy funding and withdrawal, AND a free on site VPS. You just only have to have 500$ on you account for activating free VPS. Since it is on the same server farm, MINIMAL latency.
Sorry US guys, as far as I know, this broker is not for you…
You can check this topic also https://www.forexmachines.com/reviews/leo-trader-pro/
i used the bot on a finfx demo under 3 days,i raked in $965. server is ucvhost. i am still watching it lol!
I HAVE REACHED THE SAME CONCLUSIONS DEMO -GOOD, LIVE-BAD.
Still searching for answers.
Just Bookmarked this Page.
Question for yous – Is ECN faster than STP?
Be careful. Forexoverdrive’s equity is almost the same (about 7k), as it was a year ago, when it started: big big snakes and small ladders. see it here
Has anyone seen the daily running account for MDP on www.bestforexrobots.net? The results are phenominal – is anyone getting this type of return from this EA on either demo or live? Is your live performance less than the demo performance? Doesn’t seem like what they advertise as a MDP account on the website is what anyone is getting in the real world with real dollars at stake. Please comment anyone if you would please. Thanks.
rick ,the results on bestforexrobots.net are hosted on their own servers and are demo accounts so info is useless. just scroll to the bottom of the page to see for yourself
hi doctornasir,you are right about forex overdrive.have stopped using it now before it loses me money. yet another waste of time! thankfully i can day trade properly using tried and tested techniques!
still i cant make right decision please some one help me who are using live account. please contact me and send me some live account history and good broker i will be your referal but please help me. if this robot works i m ready to buy.
When i buy the EA in PDF say i have to activate the account, but then if i use un in real, i have to pay again for other license in this real account?
Any good brokers that accept u.s. clients to use MDP?
Would appreciate a good broker recommendation for u.s. clients, from someone that is already using them on a live account with MDP.
are you making money with MDP>
Hai all (My personal experience)i got a good support from MDP team. Before i purchase i raised more doubts through 39 mails to Williom Morison, he patently response to my all questions. After my purchase of MDP,first i was struggle with it to install and run with my demo, WM gave me a good support to clear my problem. Strategy test result is very good and got few trade in my demo account that is also very good. i will start my Live account soon.
It is important to select the broker to get maximum gain from MDP.
I am also from India. Could you please share with you about the broker you use and the performance results
Here are my first three days trading using MDP using Forex.com (UK)as the broker.
Forex.com are NOT ECN brokers!
I have an e-mail from them telling me they have no restrictions to scalping or EA’s!
After closely following the test on FPA I decided to jump in and trade live and so far I have been pleasently supprised!
MDP has traded in groups and so far each group has shown a profit.
Group 1 – 2 trades + £1.26 (2 wins – 0 losses)
” 2 – 7 ” + £8.00 (6 wins – 1 loss)
” 3 – 5 ” + £11.94 (3 wins – 2 losses)
” 4 – 7 ” + £1.42 (3 wins – 2 losses)
” 5 – 10 ” + £35.98 (10 wins – 0 losses)
The settings I have changed are:
Max orders 5
Min lots 0.02
Max lots 0.06
So far, so good and long may it continue.
With ref to my first post!
I am counting trades as a group if all the trades are opened within a couple of minutes of each other!
Sorry as you can see, I spelt slippage wrong and lines are squewed by a coding issue when using.”!
Results Thursday 27th & Friday 28th
P/L carried over + £58.60
Group of 2 + £1.50
Group of 10 – £9.98
Group of 9 – £33.66
P/L to date + £16.46
Big reversal Thursday, hope for better in the next five days!
did anyone try using the MDP on a Markets.com broker?
if yes please provide details of how the robot performs there.
Hai jude… i suggest to use Thinkforex broker with a high speed internet connection…..
Results for week ending friday November 4th
Group of 14 + £24.76
Group of 4 + £6.20
Group of 2 + £1.18
Group of 1 + £5.43
Group of 2 + £10.43
Group of 18 – £7.46
Group of 2 – £1.40
Group of 8 + £2.28
Group of 1 – £1.14
Group of 8 + £19.15
Group of 3 + £6.25
Group of 8 – £15.44
Group of 8 + £10.14
Group of 6 + £47.11
Group of 5 – £1.69
Group of 12 + £11.80
Group of 3 – £1.09
Group of 5 + £6.73
Total P/L to date + £140.64
MDP is trading base on hike.
For people not experiencing many trades; high latency.
MDP works best with VPS.
Most of my customers have MDP + Mammoth VPS.
The VPS does not require you to leave your comp on, so basically you can just monitor your account at the end of the week.
MDP Trading Results
Monday 7th November to Friday 11th Novenber
P/L carried over + £140.64 from third results post
Group of 2 + £2.00
Group of 3 – £4.98
Group of 2 – £2.98
Group of 2 – £0.50
Group of 2 – £2.23
Group of 2 – £2.38
Group of 1 – £0.63
Group of 2 – £0.42
Group of 3 – £3.59
P/L to date + £125.88
Not so good last week, but tight S/L keeps losses small!
Just to show how much of a difference there can be between brokers, I have enclosed these results from yesterday!
At 14.39, the MDP demo account on FPA, opened two trades at 14.39pm
One trade had a 5 pip loss and the second trade a 3 pip profit, giving a 2 pip loss for the two trades.
On my live account, MDP opened the same two trades at the same time.
One had an 8.5 pip profit and the other a 7.6 pip profit, for a total of 16.1 pip profit.
Of course next time this could be reversed – who knows?
if you guys with live accounts don’t mind, can you share your statements via MT4i or something similar?
i really want to use this bot. if something’s wrong with my live results then i just want to see what the differences are with my settings or probably my broker since I am using an ECN broker as well.
thank you very much. 🙂
i am really inyerested in MDP but am in Nigeria can somebody in nigeria tell me which broker is good presently am on alpari nigeria and which vps is recommended.
Hi Albert B,
Is it still chugging along in profit or has it stalled, like most EA’s
Without showing all the groups, I will tell you what has happened so far!
Week ending November 18th P/L + £144.25 = week + £18.37.
Week ending November 25th P/L + £137.14 = week – £7.11.
Week ending December 2nd P/L + £176.11 = week + £38.97.
At the moment, I am still a happy bunny!
PS. My one piece of advice is to change the magic number when you first install MDP and then change it on a weekly basis.
Hi Albert B,
Woo maybe it’s a winner, is it one of those upsell, upsell, upsell ones, or is it a completely honest one. Gotta say I hate the ones that get you in there and then it is upsell, so you’ve gotta have this and you simply have to have that, and if you don’t then you end up with an EA that simply does not work.
No upsell as far as I remember!
I only ever go for the basic anyway!
Downside, not sold through ClickBank, so only thirty day guarantee!
One thing I have noticed with MDP is that it when certain messages are displayed in the diagnostics, there is a tendency for it to ‘stick’!
When this happens it seems not to trade!
The two messages which have triggered this have been:
Slippage too high and Too many rejections (or words to that effect)
I have found a real easy way to get it working again.
Just change the Magic Number and it starts working OK!
I use LeoTraderPro (works pretty well). I know a very small % of these EAs work well. In doing basic research on this product, I like what I’m seeing. The only negative seems due to some brokers in conjunction with this product. It seems like this EA never takes a loss of less than a few pips, & wins MANY small trades for a few pips, it’s success is by hi volume. However, some brokers have hi spreads which causes trades to close -1 or -2 pips that should win. My broker is probably one of those hi spreads (2-4 pips). WHAT BROKER DO yALL THINK IS GOOD TO USE WITH THIS EA??
I am using Forex.com and so far showing a profit on a live account!
If you go ahead, my advice is to change the Magic Number before you start trading.
This is just so that the brokers are not tracking the same Magic Numbers and giving them a chance to play naughty games!
Keep changing the Magic Number, about once a week or so!
Albert good to hear about forex.com because I’m finding the other 2 recommended brokers (thinkforex and pepperstone)don’t take U.S. residents like me. And was starting to think no U.S. broker would work b/c of the spreads. Forex.com says they are in NYC so they should take me, I guess.
Do you know the min balance that broker allows?
Does MDP use the basic MT4 platform??
Thanks in advance.
I called forex.com, sounds like a good broker with live people, in the USA with as good of numbers (leverage, fees, min deposit, etc) as you can have in the USA. No commissions and spreads of no more than 1-2 pips on the majors. Thanks again Albert.
I am in the UK so I don’t know about USA Forex.com!
It does use basic MT4!
So far, I have read nothing that would prompt me to go out and buy this robot. Evidently not much time has gone into explaining how to use it, what broker to use and what critical settings achieve the wonderful results we have all read about. It’s a good thing I read this blog before prematurely purchasing a robot in who’s creator would leave me in the dark when I’m suppose to make $$$$$. I think it’s safe to say that those who purchased this product are tinkering around with it as if it was something that they can alter and modify to make them big bucks but from my experience unless you are using it the way it was originally intended you will not be successful.
If as stated, you have not bought MDP, your experience of it must be zilch, so yur comments are also worth zilch!
I HAVE ACTUALLY BOUGHT IT and SO FAR, it is working for me on a live account!
It may eventually fail, if it does, I will let you know!
My final update of 2011!
Week ending Dec 9th + £4.42
Week ending Dec 16th – £6.49
Week ending Dec 23rd + £22.46
Week ending Dec 30th + £1.34
P/L to date + £194.43
Is anyone still using this EA? No comments since the end of December..
I’m using MDP and it is great. It will have a few small losses but then the winners are big. Over all happy with it and going live at the end of the month.
Don’t get too excited when you go live, as demo accounts often produce results which are different to a brokers live account.
Start with small trades and see how it goes before slowly incresing the lot size over time.
I just installed MDP last night, nothing, went to bed, woke up, account is up 6% despite having several losses over night (how many EAs can do that with losses??). It did 27 trades over night, 21 were winners. A lot of those trades open and closed in 1 second, man this thing is fast, it also means my broker IBFX can be/is fast too. AND THIS WAS WITH THE DEFAULT TINY 2% RISK SETTING.
I’m on a demo account, but trust me I have run EAs on two accounts at one time with IBFX many times, a demo and the other live, and they mimic each other right down to the spreads etc.
Are your results from a live account?
Albert, Are you going to keep updating with your 2012 weekly results?
I’m also in the UK
Yes, it is a live account!
I will be updating at the end of the month!
Been a week now (I’ll give it a month then go live), using total default settings. My demo is up 8% in a week, got some more trades about 30 minutes ago. I have been looking on the myfxbook site at ‘live’ and demo accounts to compare theirs to mine. Good news is there’s live accounts doing as well/bad as demo accounts, and everyone (live and demo) who has my broker always gets trades at the same time my demo does.
How important your broker and things like it’s execution time?? VERY IMPORTANT. Some brokers will have much worse execution time on their LIVE accounts, but not all brokers are that way. I have noticed multiple accounts on myfxbook getting trades at the same time, but they don’t all win or lose even though they all got them at the same time. Last week I had a 5% gain over night while others got trades at the same time and lost like 2%. My execution time is around 255ms.
I’m really lovin this small stoploss (low risk) on this thing. There are other EAs that make money, but you’re always having to give back (lose) 1000 dollars every month or so on an account that went from 3000 to 4000, then back to 3000 in one loss.
If you happen to intend on successfully profiting in today’s foreign exchange market for an Affiliate/BI, you need to be familiar with the suggestions your broker presents to you. I discovered the company and advice offered at Affiliateyard.com superb!
thanks Albert. My friend has started to use it too and I think his settings are different to yours but I will find out when I see him at the end of next week.
MDP increased my demo account balance by 20% in one minute last night, frickin unreal! What’s great is there’s a website that posts 100s of REAL ACCOUNTS, plus people’s comments. The MDP users all got the same results I did, only a few did a little better, some the same, some slightly worse …. depending on their broker, connection speed, computer performance, etc.
MDP Trading Results
Week ending 6th January + £11.03
Week ending 13th January + £4.55
Week ending 20th January + £7.49
Week ending 27th January – £33.87
Week ending 3rd February – £17.25
P/L – £28.05
Worst result so far!
Hope it stays the worst!
Overall P/L £166 38
Thanks Albert, my friend had lost a lot of money too so you are in good company. He thinks the EA is more suitable to some markets than others – can be said of any EA of course.
Have you tried setting buy or sell limit orders at points of support or resistance? This may give you a more controlled return for a small amount of work.
I lost £28 in 5 weeks, I would not call that a lot of money!
Most of it came in 2 weeks, just as I increased the max lot size to 0.10!
If had left the lot size at 0.05 the losses would have been halfed!
In answer to your question, no I have not tried setting limit orders!
In viewing 100s of MDP accounts on myfxbook, it seems there’s a lot of variation, but all within a few pips of each other. But even though it’s only a few pips, some are winning while others got the same trade at the same time (minute, but not millisecond), and lost. Milliseconds matter BIGTIME with this EA, which is why they display the execution time on the EA screen. It’s funny how 100s of people on blogs only talk about the broker speed, and not the internet connection speed and other factors.–My broker told me this VERY MUCH matters. I kinda have proof of this. I got 8 trades all winner for a few pips, another user had my exact same broker, got all 8 trades and lost all 8 by a few pips. I looked and his EA entered the trade like 2 pips worse than my entry, and he exited like 2 pips worse than my exit. I’m convinced it was his connection speed and/or where he is in relation to the broker—my broker told me this matters depending on where servers are.
But yes some people do need to change brokers. However the ones that are having problems with any broker, might have connection/computer issues. To show you how much ‘slack’ there is in the internet, my execution time is around 250ms. I was pleased because I’ve only heard of a couple of people with a better time. Well my broker told me they post their current execution time on their site, and it’s usually around 4ms when I checked. This means that around 246ms of my 250ms is NOT my broker, it’s slack thru the internet hwy to get to me.
My demo account is up 40% in 3 weeks. The only setting that’s been altered is the additional channels is at 3.
Took this thing real money today after 39.6% gain for a month on demo. Today it’s made 3.1% gain on the account, so far seems to be working as it did on the demo. However, on the demo avg execution time was around 260ms. The first trades on the real account early in today’s A.M. were 455ms–(still decent). My trades are almost always at night. Today a 2nd batch of trades started while I was busy at my computer with resources tied up. The execution time that time was 2700ms. I’ll need more trades to know if that time was due to me having the computer tied up, or being on a real account. But my first real trades were 455ms so that kinda sounds like it was me having the computer tied up.
People really do overlook their OWN computer and connection speed. I saw a guy complaining about my broker today on a forum, he said his fastest execution time with my broker was 4000ms even on a demo. Mine was never worse than 300ms on a demo with that same broker. Just goes to show how many other factors affect it than the broker.
I have bookmarked this page and will check for new comments often.
First of all, DEMO accounts should never be taken into account when evaluating the performance of any trading system or robot. Therefore, the most valuable feedback on this page come s from Albert B., since he has a live account and presents P/L figures. Thanks Albert B. I wish to learn if the robot still performs well. Please keep us informed at the end of the week.
On the other hand, most of the brokers who claim to be ECN/STP are just liars. They have almost full control on your account via their backoffice software running on their servers. They can delay, slip or stop out your orders if they want to do so. They are monitoring your trading activity using these software and when you start making profits fast, they start delaying and slipping your orders. I wish it could be possible to trade the futures market with this robot. Because futures market is centralized and the broker has no conflict of interest with the client, they just want to execute better.
Anyway, if i am satisfied with the feedbacks from live account holders in this page, especially Albert B., I will give it a try with a small account in a real ECN like MBTrading, although I have recevied some negative feedback, along with more positive feedback about them (MBTrading) in the past. Thank you all!
MDP Trading Results
Week ending 10th February – £14.50
Week ending 17th February B/E
Week ending 24th January + 20.38
Week ending 2nd March + £20.46
P/L + £26.07
Back in profit!
Overall P/L £192.45
this ea very good but you cannot find broker for working by this ea.
On the brokers. I’ve seen people say the fastest execution time they could get with a certain broker was 4000ms, so he switched brokers, then another user will say he is getting 300ms using the same broker that was producing 4000ms for the other user. My broker also told me ‘where you live’ in relation to servers in your country, may make a broker that is good for me, not be good for someone else. Brokers can be a problem, but they are not the only problem, no one talks about their internet connection speed and computer health.
The worst month by far!
Increased lots to 0.2
Week ending March 9th – £13.61
Week ending March 16th – £30.82
Week ending March 23rd – £90.91
Reduced lot size to 0.02
Week ending March 30th – £0.90
P/L – £136.24
P/L to date + £56.21
After a really encouraging run, over 60% of profits have been wiped out in four weeks!
It had been running close tradewise to the MDP trial account on the FPA website, then suddenly this last month it open a lot more trades, which have been mostly losers.
Has the platform been ‘tweaked’ by the broker on the back end?
I don’t know!
I have come to the conclusion that it is unlikely that any EA can show really long term profitability!
Market conditions are just too unpredictable for this to happen!
Ah , ha I’m gonna purchase 2moro, and install it. Hope it gives me the good ,profitable results all of you are talking about. Pepperstone is a good , feasible broker, right for MDP?
Is there any updates to this version does anyone know.?
Hi..i just found this EA last 2 weeks ago and i bought right away and use with broker fxvv.com (new broker). I trade from last week and make a trades total 65. Started live account with $300 and until today (1 week trades) make money $79 and result for me was good so far. I will keep updates again when finish trade next week and see how this EA and my broker works together. EURUSD on this broker average 1.4 pips and sometimes below than 1 pip.