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Medusa X Review: Is It a Reliable ATS?

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Medusa X

Medusa X is an expert advisor using an innovative algorithm with momentum and pullback method. It works mainly on the GBPUSD and USDCHF pairs. As per the author, the system is designed to create excellent performance by strictly following mathematical and statistical methods. Oon Kar Lee is the author of this FX EA. He is based in Singapore and has more than 15 years of experience in developing FX trading products. His other products are Market Maker EA, Immortal X, Corsa, Goldtron, Quantica, and Blassik V2. For support, links to Telegram channel and YouTube channel are provided in addition to the messaging option on the MQL5 site.

Some of the key features and recommendations of this FX EA that make it unique as per the developer are:

  • It is backtested with Tick Data Suite real 99% tickdata, slippage, and variable spreads.
  • Good and safe return on investment is assured with the FX robot.
  • It is fully automated and easy to install and use.
  • The FX EA uses the H1 timeframe.
  • A minimum account balance of $500 and a recommended balance of $1000 is suggested by the developer.
  • The leverage of 1:500 is recommended for ECN brokers with low spread and commission.
  • The leverage of 1:1000 for a good ECN broker with low spread and commission and the leverage of 1:2000 leverage for a high leverage broker is recommended.

Trading strategies and currency pairs

As per the developer, the system works on major pairs with low spreads such as the GBPUSD and USDCHF pairs. The FX EA is also set optionally to work on the USDCHF and USDJPY pairs at high-risk mode. It trades frequently during the day and uses the momentum and pullback algorithm along with Trend EMA, RSI, and volatility filters. This FX EA uses additional averaging trades of similar lot sizes to improve the winning rate. Most often the trades have a TP of 5 pips with single entries. The vendor states that it does not use the Martingale method. When used on 2 pairs on a single account, the performance is enhanced and growth of the account occurs at an accelerated rate.

A couple of backtests are present on the MQL5 site. Here is one of the backtests working on the USDCHF pair using the H1 timeframe from 2016 to 2020.

Backtesting result for Medusa X on the MQL5 site

Backtesting result for Medusa X on the MQL5 site

For a deposit of $10,000, the account generated a total net profit of $31,067. The total number of trades executed was 1693 with 92.03% profitability and a profit factor of 2.02. A maximum drawdown of 44.08% was present. From the high drawdown, it is clear that the system used a high-risk approach that can endanger your capital.

Medusa X trading statistics

A real live SGD account using the leverage of 1:500 on the MQL5 site is present. Here is a screenshot of the trading results:

Live trading stats for Medusa X on the MQL5 site

Live trading stats for Medusa X on the MQL5 site

From the above stats, we can see that account that started in December 2020 has completed 253 trading days with a growth of 217% for an initial deposit of 500 SGD. A drawdown of 78.6% is present for the account which indicates a dangerous approach. A total of 1627 trades have been executed with a profitability of 93.05% and a profit factor of 2.29. While the profits are high, the big drawdown which is also seen in the backtesting results indicates that the approach used is of a high-risk type. Traders who prefer low-risk approaches will not favor this system.

Pricing and refund

You can buy this ATS for $399. Rental packages are present that includes a one-month rental costing $80 and a 3-month rental costing $150. We could not find info on the features available with the packages. No money-back guarantee is present which raises doubts about the reliability of the EA. When compared to the market average, we find the pricing is expensive. Further, the vendor mentions that the price will soon increase to $2000.

What else you should know about Medusa X

Unfortunately, we could not find user reviews for the ATS on reputed third-party sites like Myfxbook, Forexpeacearmy, Trustpilot, etc. Although there are reviews found on the MQL5 site, there is a high chance of the results being manipulated as the site promotes the product.

Medusa X Conclusion

4

Medusa X promises excellent performance due to its adherence to mathematical and statistical details. While the developer provides real and backtesting results, the stats reveal a high drawdown indicating a risky approach that can put your capital at risk. Other drawbacks in the system are the expensive pricing, absence of a money-back guarantee, and insufficient company info.

  • Price - 4/10
  • Strategy – 4.5/10
  • Trading Results - 4/10
  • Vendor Transparency - 4/10
  • Customer Reviews - 3/10
  • Support – 4.5/10

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