In this post I will be reviewing the Forex Atlantis EA which is an automated forex trading system by Oliver Murphy. Oliver Murphy, the Head of Altra Forex Group, is mostly well-known by his forex indicators which have received very positive feedback as you can see from the user testimonials on his websites.
Forex Atlantis is Oliver’s first fully automated software that runs in the free to download MetaTrader 4 trading platform which you can get from most online forex brokers. You will need a forex trading account in order to trade on the MetaTrader platform and you can start with a demo trading account to begin with if you wish. This can be a good way to familiarise yourself with the trading platform. If you are looking for a forex broker, you may wish to view my best forex brokers page for some inspiration.
This Forex Atlantis Review should give you a clear idea of what it does and how it works. Hopefully then, you can make an informed decision as to whether it is a forex robot you would like to try out. Without further ado, let’s get to it!
Forex Atlantis EA Trading Strategy
As the name suggests, the Forex Atlantis EA is a forex robot that can analyse the markets, place and manage trades on behalf of the user. This makes it a “hands-off” trading solution that can be used by traders of all experience levels. You can simply follow the provided instruction guide and set it up on your MetaTrader 4 charts within minutes.
The Forex Atlantis EA runs on the M5 and on the following currency pairs: AUDCAD, EURAUD, GBPUSD, EURGBP and EURCHF. Atlantis Robot mainly trades during Tokyo and Sydney trading sessions. The GMT trading hours are automatically calculated for you within the code and are shown in the Infoboard, which is very convenient.
Forex Atlantis EA primarily trades ranging markets with a combination of price action and technical analysis. It has a dynamic exit algorithm that attempts to adapt to the current market conditions. Thus, it will exit a trade if it believes that there is an opportunity to do so. This can give it more flexibility when compared to some other forex robots that only use fixed TakeProfit and StopLoss levels.
The Atlantis EA can be easily used with the default settings, although you would need to adjust the lot or risk size to a level that you are happy with.
It is also worth mentioning that Forex Atlantis does not hedge, there is no martingale or grid strategy and no arbitrage.
Forex Atlantis EA Back Testing
The Forex Atlantis EA has been back tested over many years on all 5 currency pairs it works on. Trading multiple pairs can add diversity to a trading portfolio. The historical results show that Atlantis Robot can perform well over 7 years of data using the same settings on all currency pairs. This is very refreshing as I often see robots that have been individually optimized for separate currency pairs over a short-term time period. In addition to this, the developer shares an interesting QuantAnalyzer portfolio with an overview of statistical performance, historically speaking.
I do not think we can take anything from these Forex Atlantis EA backtest results simply due to the fact that they are only using 90% modelling quality and do not account for important factors that could have a significant impact on the results, most importantly the spreads and commissions. I would like to see the developer improve and update the Forex Atlantis robot backtests, especially when you consider they have been around for years so should certainly have the skills required to do so. Most of the top forex robots nowadays have 99% modelling quality tests, including the Forex Robotron EA.
Forex Atlantis EA Live Results
If the lack of top quality backtests wasn’t bad enough, the developer isn’t even sharing any real live verified accounts of the Forex Atlantis robot. Without them, we don’t have any idea of how good or bad the Forex Atlantis EA has been performing in the current market conditions which are constantly evolving. For this reason alone, I would consider looking at another trading robot such as the Forex Flex EA. They have 99% modelling quality backtests that are also backed up by verified results. To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Forex Atlantis EA Summary
As with any forex trading system, I would personally run Forex Atlantis EA on an ECN forex broker as I find they can have some of the best trading conditions and always start on a demo account. EN forex brokers can have tight spreads, reliable execution speeds and competitive commissions. I deem these to be important factors for any automated or manual forex system.
IC Markets are one of my top forex brokers for running automated forex trading robots. This is because they are an ECN broker with lots of liquidity which means that you can trade with tight spreads, low commission fees and rapid trade execution speeds at the best available prices.
The software comes with detailed instruction manual for a quick and easy setup, full support and free updates for life. The customer support is also widely regarded as great. The support team even offers a free remote installation via AnyDesk which many beginners will find a solution.
In overall, despite there aren’t any verified results yet on the website (Oliver Murphy promises there will be in the nearest future), I would still try this EA on a demo account because of the good portfolio results, backtests and effort put into the strategy by the Altra Forex Group. Moreover, the money-back guarantee is unconditional no-question-asked, so you risk absolutely nothing providing that you start with a demo account first.
You can download Forex Atlantis EA by clicking the link to the official website below. Otherwise, please feel free to browse my forex robot reviews for some alternative options.
Forex Atlantis EA
$159
Pros
- Multiple Currency Pairs
- Customisable Settings
- Up to 3 Licenses
- 14 Day Money Back Guarantee
- Dynamic Money Management
- Full Support
- Lifetime Updates
- Detailed Instructions
- Fully Automated Forex Robot
- Any Forex Broker
Cons
- MetaTrader 4 Only
- No Backtests
- Limited Backtest Quality
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
