4 years ago Mark Larsen came up with the idea of a great trading system GPS Forex Robot EA that worked really well for me. The system is really bulletproof and can sustain any market condition. The only problem was – He did not have enough time to sit near my PC 24/5 waiting for the signals. So He decided to join forces with two young talented programmers, Antony and Ronald, who developed a great robot for me based on this system.

Like a GPS navigator in your car, the robot is trying to predict the short term movement with a very high probability. That’s why He decided to call it “GPS Forex Robot”.

Key Takeaways

  • Free MT4 recovery-style robot for the major pairs, originally by Mark Larsen
  • Performs best in ranging, mean-reverting markets
  • Struggles in strong sustained trends, the main risk to manage
  • Needs adequate margin and small lots; demo on your live broker first
  • Trading The EURUSD, EURGBP, GBPUSD and USDCHF Pairs
  • Less Than A 9% Drawdown
  • $8,000 Deposited On Apr 15, 2010
  • Current Balance More Than $217,547
  • Trading The EURUSD, EURGBP and USDCHF Pairs
  • Really Small Drawdown
  • $250 Deposited On Feb 15, 2010
  • Current Balance More Than $3,700
  • Trading The EURUSD Pair
  • Really Small Drawdown
  • $100,000 Deposited On May 21, 2012
  • Current Balance More Than $600,000

How GPS Forex Robot Works

GPS Forex Robot is one of the longer-running commercial forex robots, originally built by Mark Larsen and team for MetaTrader 4. It trades the major pairs and leans on a recovery approach: when a trade moves into loss, the EA manages the position back toward breakeven rather than taking the loss immediately. That style does well in ranging, mean-reverting conditions, which is where most of its historical results came from.

The trade-off is the same as any recovery system. A strong, sustained trend against an open position is the hard case, because the recovery logic needs price to come back. Understanding that single fact tells you most of what you need to know about when this robot is comfortable and when it is not.

Settings and Risk

  • Start on the pairs and timeframe the EA was tuned for, and keep the default risk low until you have weeks of demo data.
  • Use a sensible maximum lot and an account balance that can absorb a recovery sequence without hitting margin call.
  • Pause it around major news when spreads widen and trends run.
  • Demo it on your live broker first; spread and execution change recovery results more than most settings.

Recommendations

  • Minimum account balance of 10000$ or equivalent cent account(100$).
  • Work Best on EURUSD, EURGBP, USDCHF.
  • Any Timeframe.
  • To reach stable results, This GPS Forex Robot should work 24/7 on VPS. So we Recommend running this free forex EA on a reliable VPS (Reliable and Trusted FOREX VPS – FXVM)
  • Low Spread ECN account is also recommended (Find the Perfect Broker For You Here)
  • Recommend experimenting with this EA and fine-tuning it.
GPS Forex Robot EA

GPS Forex Robot EA

by Mark Larsen

GPS Forex Robot EA

A free MT4 recovery-style forex robot for the major pairs, originally a paid commercial system by Mark Larsen.

Recovery Strategy Logic
Ranging-Market Performance
Trend / Drawdown Safety

Pros

  • Free MT4 download of a well-known commercial robot
  • Recovery logic suits ranging markets
  • Trades the major pairs automatically
  • Adjustable risk and lot settings
  • Long history of public discussion to learn from

Cons

  • Recovery style struggles in strong sustained trends
  • Needs adequate margin to survive a recovery sequence
  • Older robot, market conditions have changed since release
  • No guaranteed live performance; backtests over-fit easily

Summary

3.2

A free MT4 download of a long-running commercial robot. Its recovery approach handles ranging markets well but needs enough margin to survive a losing sequence and struggles in strong trends. Used with small lots on a low-spread broker and tested on demo, it is a reasonable robot to study; treat old backtests as indicative only.

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Last tested by @Silent in Jun 2026 for ForexCracked Editorial.

Frequently Asked Questions

Yes, it is a free MT4 download here with no licence key. It originally sold as a paid commercial robot. 
It trades the major currency pairs and uses a recovery approach, managing losing positions back toward breakeven instead of closing them at a loss right away.
 Only with proper risk control. Recovery systems need enough margin to survive a losing sequence, so use small lots, a healthy balance, and demo it for several weeks first.
A low-spread account with reliable execution on the majors. Wide spreads hurt recovery results, so test on your intended live broker before committing.

Conclusion

GPS Forex Robot is worth studying as a free, well-documented recovery robot, provided you respect its one weakness: strong trends. Run it on a low-spread account with conservative lots and enough margin to survive a recovery sequence, and treat its old backtests as indicative rather than a promise of live results.

Related robots: see more in the Forex Robot and Grid EA collections, or browse the full Forex EA library. Compare it with the Odin Forex Robot.

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