Mr. Martin Review

Mr. Martin

Mr. Martin is a fully-automated expert advisor that works on both MT4 and MT5 trading platforms. The vendor claims that the system is designed for quiet investment trading for the long term. While the MT4 version of the system was released on 3rd November 2018, the MT5 version was launched on 11th October 2020.  

The developer, Vasiliy Kolesov, is a resident of Russia. He has an experience of over five years manufacturing Forex robots. We don’t know anything about this person’s background and service history. It is unknown whether they work alone or as a part of a larger team. Other expert advisors built by them include Yellow Mouse Scalping and EA Monolith.

The presentation on the official website is not too detailed. We have a brief introduction to the system followed by some recommendations. There are also multiple screenshots showing the backtesting results. 

Mr. Martin at a glance 

Price $360
Trading Platforms MT4, MT5
Currency Pairs EUR/USD
StrategyAveraging
TimeframeM1
Recommended Deposit $1000
Recommended Leverage1:300
Money ManagementNo

Mr. Martin functionality

The default settings of this EA are optimized to work on the EUR/USD pair for the M1 timeframe. You need to adjust the GMT setting to GMT+2 and trade at all times without performing additional optimization. To get started, you require a minimum deposit of $1000.

The robot has both conservative and aggressive settings. Although the vendor has not shared the details of these settings, we can assume they are related to the risk settings. The EA opens and closes orders on a closed bar. As such, it is compatible with any broker and spread. 

The robot is designed to operate on hedge accounts and the vendor recommends against using it on netting accounts. In case the spread is more than 10, you ought to reduce the take profit level.

Mr. Martin trading strategy tests 

Mr. Martin averages unprofitable positions in its trading strategy. The vendor claims that the strategy is completely safe, due to the deposit protection system, multiple filters, and the unique input system. 

Backtesting results of EUR/USD
Backtesting results of EUR/USD

This backtest was commenced in January 2014 and was concluded in October 2018. During the testing period, the EA conducted 689 trades, winning 74.17% of them and generating a total profit of $5919.49. The drawdown for this test was a bit high at 28.17%. This means the EA was using a risky trading strategy.

What about Mr. Martin live trading results 

Growth chart of Mr. Martin
Growth chart of Mr. Martin

Since February 11, 2019, Mr. Martin has conducted 514 trades through this account. It currently has a high win rate of 73%, although it is slightly lower than the profitability for the backtest. The account has average daily and monthly gains of 0.16% and 4.88%, respectively. Similar to what we saw in the backtest, this account has a high drawdown of 26.26%.

Trading results of Mr. Martin
Trading results of Mr. Martin

From the trading history, we can see that the robot trades with large lot sizes. It fails to win too much profit when the lot size is around 0.5, but once it raises it above 1, it manages to make large gains. It rarely keeps an order open for more than 24 hours.  

User reviews

User reviews for Mr. Martin on MQL5
User reviews for Mr. Martin on MQL5

Unfortunately, there are no user reviews for this EA on trusted third-party websites. While there are a few reviews on MQL5, we cannot consider them unbiased.

Customer support 

Since there is no official contact information shared by the vendor, the only way to get in touch with them is to message them via MQL5.

Mr. Martin Review Summary

Mr. Martin
2 5 0 1
Mr. Martin is a robot sold by a vendor who does not have much of a reputation in the Forex trading community. It uses a risky averaging strategy where the lot sizes are quite large and you have the chance of suffering heavy losses. Also, the vendor does not offer a money-back guarantee for this EA.
Mr. Martin is a robot sold by a vendor who does not have much of a reputation in the Forex trading community. It uses a risky averaging strategy where the lot sizes are quite large and you have the chance of suffering heavy losses. Also, the vendor does not offer a money-back guarantee for this EA.
2/5
Total Score
  • Functionality
    2/5 Bad
    This robot does not have any special functionality that sets it apart from other automated systems.
  • Trading strategy
    2/5 Bad
    Averaging unprofitable positions can spell doom for the trader if not used properly.
  • Live results
    4/5 Good
    The live trading account has been active for quite some time and has a healthy win rate.
  • Customer support
    2/5 Bad
    Customer support is only available through the MQL5 website.
  • Use reviews
    2/5 Bad
    There are no authentic customer reviews for this EA on third-party websites.

The Good

  • Verified trading statistics

The Bad

  • No money-back guarantee
  • No customer reviews
  • Lack of vendor transparency
Total
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