Grid Master PRO Review
Grid Master PRO is a fully automated grid trading robot developed for the MT4/5 platforms. It is flexible and packed with customisable features, although grid strategies can be dangerous and are not suitable for everyone.
Grid Master PRO is an automated grid trading strategy developed especially for the GBP/USD currency pair. It has been programmed to trade automatically in the MetaTrader desktop platforms. Using its unique trading algorithm, it will scan the GBP/USD chart for possible trading signals and take positions on behalf of the trader. On the other hand, the software can also be set to semi-automated mode in which instance it will send you a forex signal alert when it finds a potential setup via SMS, email or platform notification. You can then decide whether or not you would like to proceed with the trade. In this Grid Master PRO Review, we will be taking a close look at some this forex expert advisor key features, trading strategy and most importantly, its results.
Developed by the Fxautomater team, Grid Master PRO is the professional version of another one of their popular trading robots, the BF Grid Master EA. In the Pro version, they have implemented a range of additional features and systems to try and boost its overall performance. Specifically, they have added 3 more trading strategies, an advanced time management system, notification system, pre-weekend exit system and advanced news filter.
This is an automated forex system from the Fxautomater team of professional forex traders and developers. They have more than 50 years of combined experience in trading, researching and software development. We have reviewed other Fxautomater robots including BF Scalper Pro, Smart Scalper PRO, GOLD Scalper PRO, Omega Trend EA, Volatility Factor 2.0 Pro, Forex Diamond EA, Forex GOLD Investor EA, Forex Trend Detector and Forex Combo System.
Whilst the Grid Master PRO was developed specifically with the GBP/USD currency pair in mind, it can be adapted and applied to almost any trading instrument. The developers even provide an additional set file for the NZD/CAD currency pair. You can experiment with other instruments and settings if you wish, just make sure that you only do so on a demo account to see how things go at first.
As the name eludes to, this forex robot uses an automated grid trading strategy. Grid trading systems are controversial and often split opinion between traders. This is because they are capable of generating gains in the right market scenario but in the wrong circumstances, they can lead to high drawdowns and even blow trading accounts. The key elements for the success of any grid-based trading robot are the applied risk and the right entry and exit trading logic.
Grid Master PRO has been developed to try and pick up the right moment for the initial market entry and for the following additional grid-based recovery trades. The second safety line of additional trades is a unique feature, which is not implemented in many other grid EA on the market. This feature allows a safe “high frequency” scalping, when the price is in narrow range and as well a second line of distant drawdown compensating trades in case the market price breaks in the wrong direction. The second line of drawdown compensating trades is initiated only in extremely stretched in the “wrong” direction market, only after a very strong market reversal pattern is detected.
Probably, the safest way of using grid-based trading strategies is to determine wisely the most probable trading direction and allow trading only in this direction. Regardless, grid trading robots will always carry that element of risk, so it is imperative that you have a clear understanding of how they work and only ever trade with what you can afford to lose.
Now that we have an idea of the grid trading strategy being used by the Grid Master PRO EA, lets take a look at some of its more prominent features:
Fully Automatic
The Grid Master PRO software is capable of automatically trading the GBP/USD currency pair. This means not only will it scan the chart for trading signals, but it can also place, manage and close trades on behalf of the user. In order to run a forex robot such as this one, you will need the MetaTrader platform open on your laptop or computer. If you cannot always have the terminal running, then you may consider a Forex VPS which will enable you to run MetaTrader remotely 24/7.
Multiple Trading Strategies
Due to the fact that the Grid Master PRO robot has multiple trading systems implemented within its complex trading algorithm, this means it is able to adjust to different market conditions. This is compared to some other forex robots that use only one auto trading strategy which would require specific market conditions such as a trending markets or range bound price action.
Time Management
There is a built-in time management filter which can be used to specify the trading sessions that the robot will look for entry signals. This is probably because the developers have tested many hours and defined a window that performed best historically speaking. We often see this with trading systems that are reliant on certain market conditions such as low volatility, especially forex scalping robots which tend to run as the US market closes and the Asian opens.
Friday Exit Function
The Friday exit feature will try and get the EA out of all open positions prior to the forex market closing for the weekend. This is because there can be large forex market gaps over the weekend where price opens far away from the Friday close. This can cause unexcepted and unnecessary losses. Trading conditions such as spreads and slippage can also be higher than usual around the end of the week and start of the new week.
News Filter
The Grid Master PRO news filter will make sure that it avoids trading around major news releases. Many forex traders will use a tool such as an economic calendar to make sure they do not trade when volatility is higher than usual which is common around high impact news events. Brokers tend to have increased spreads and slippage around these times which is another good reason to consider avoiding them.
Overbought-oversold Trend Filter
This filter is an important part of analysing the trend or lack thereof in order to assist the EA with making its trading decisions.
Trade Direction
The EA has the option to be able to set it to trade long (buy) or trade short (sell) only.
Volatility Filter
The volatility filter will check for the current market volatility before the EA executes the next stage of the MQL code and makes a decision on what its next move will be. Volatility is an investment term that describes when a market or security experiences periods of unpredictable, and sometimes sharp, price movements. People often think about volatility only when prices fall, however volatility can also refer to sudden price rises too.
Trading Signals
As we eluded to earlier in the review, the software has an email and push notification system to keep you informed on its trading activity. It can also be used if you prefer to manually check each trade and take positions on your own accord after confirming them.
Money Management
Grid Master PRO comes with a built-in money management system that you can customise according to your own risk preference. You can set a risk as a percentage and the robot will automatically calculate the lots according the risk and your account free margin.
Advanced Recovery System
Grid Master PRO is equipped with an advanced recovery system which will open additional recovery trades with high risk to try and compensate if there are initial losing trades. This can cause a mess if the trades never recover. Check the below image to see how it works:
When choosing a trading robot, one of the most important things to do is to check the latest results and see how it has been performing historically. Whilst this is no guarantee of future performance, it can help to give us an idea of the trading system being used and what we may expect.
Grid Master PRO Myfxbook
To be fair, the Fxautomater team have published some demo and real Grid Master PRO accounts that are verified by Myfxbook. This can help to give us a rough idea of recent performance. You can see the trading results below and click the graphs for more detailed statistics.
Update 15/08/2022: Some of the Myfxbook accounts have been deleted, which is often an indication that an EA could have crashed. Please see our trading robot ratings for an alternative option.
Grid Master PRO Backtesting
We have a selection of Grid Master PRO backtests to get see historical performance of the expert advisor in the MT4 strategy tester. There are backtests with 4 trading signals and 1 trading signal for you to compare options. It is worth pointing out that only 1 of the backtests has 99% modelling quality which means it would be the most accurate. It is not clear if commission was included in the backtesting which can also have an impact on results. You can see the EA backtests in the gallery below.
The Grid Master Pro Robot has a plethora of innovative features for automated grid trading. Whilst there are verified results and set files provided, we feel it would be more suited to traders who are already experience with grid trading systems and would like to experiment in the MT4 strategy tester with a new tool. Please feel free to take a look at out trading robot ratings for other options.
It is important to reiterate that this a grid-based trading strategy. You should not use it, if you are not aware of the risks associated with this type of trading. The trading software comes with a quick-install wizard that will walk you through the simple install and configuration process. No additional skills, tools, or downloads are required.
What is the Grid Master PRO price?
Grid Master PRO costs $197. It is one-time payment and all future updates of the Grid Master EA are completely free. The software includes 1 live account license and 3 demo account licenses.
Where can I download the Grid Master PRO?
You can download the Grid Master PRO from the official website here.
What kind of customer support does Grid Master PRO offer?
You will get 24/7 professional support from the Fxautomater team. They are happy to answer any questions or problem that you may have.
What are the best brokers to use with the Grid Master PRO?
You can use any MetaTrader 4/5 forex broker to run the robot.
What’s the minimum amount required to trade with the Grid Master PRO?
The Fxautomater team state that the minimum deposit required to use this grid trading robot is $1,000. However, we would say that you should never ever trade with more than you can afford to lose, especially considering the inherent dangers of grid trading.
What is the Grid Master PRO refund policy?
You have 60 days to try the forex robot and if you are not satisfied for any reason, you can request a refund.
Is the Grid Master PRO a scam?
We don’t believe that Grid Master PRO is a scam but that does not mean it will produce good results. Grid trading can be especially dangerous when compared to more traditional trading strategies.
Can I get the Grid Master PRO for free?
You probably could spend countless hours looking for a free version of the Grid Master PRO being shared but it is likely to be out of date, unsupported and potentially dangerous.
What currency pairs does the Grid Master PRO trade?
The software includes set files for the GBP/USD and NZD/CAD currency pairs. The recommended chart timeframe is 15-minutes.
What are the best Grid Master PRO settings?
The default settings are only for GBP/USD and NZD/CAD. These are probably going to be some of the best settings as the development team have spent many hours coding and testing the EA. That being said, you should check the position size from the input settings to make sure it is at a suitable level according to your own risk preference.
The developer does state that the default settings can be classified as reasonably aggressive and that you should perform your own backtests to study the way in which the EA trades.
Can I change the Grid Master PRO settings?
If the default settings are too aggressive for you, then you can try the conservative settings. You could even optimise the EA in the MetaTrader strategy tester to create your own custom set files if you have the experience to do so.
What do I need to run the Grid Master PRO?
You will need either the MetaTrader 4 or MetaTrader 5 desktop platforms and an account with a forex broker. Most forex brokers will let you open an account with a small deposit and download the MetaTrader platforms free of charge.
How much money can I make with the Grid Master PRO?
There are absolutely no guarantees on how good or bad any forex trading robot will perform. Due to the unpredictable nature of the markets, nobody can predict what will happen in the future. You should make sure that you understand all of the risks involved using any automated trading system such as the Grid Master PRO expert advisor.
Results are based on historical data. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. There is no guarantee of future performance. You should understand the risks involved with trading. Your capital is at risk.
