Forex Profit Robot is a robot with a one-page presentation. It isn’t professional taking into account how much money the developers want to get for this robot. We have checked trading results and found much interesting stuff there.
Forex Profit Robot: To Trust or Not to Trust?
We would not trust it. There are risky strategies on the board and poor Forex Profit Robot presentation.
Features
Let’s talk about the settings, strategies, and features of the system:
- The robot trades automatically for us placing orders on the terminal.
- We can work with the system only on MT4.
- The expert advisor runs unfriendly and dangerous Grid with Martingale strategies at the same time.
- It works with AUD/CAD, EUR/GBP, EUR/USD, GBP/USD, USD/CAD, USD/CHF, and USD/JPY.
- The account balance should have $1000 to start trading.
- The leverage should be placed at 1:500.
- The system calculates and places Lot Sizes for each deal.
- The robot can disable several currency pairs.
- The default settings don’t need to be customized to be profitable.
- It can be attached to a single chart to work well.
- The support can help us with customizing settings if we want.
- Most likely, the robot works on the M30 or H1 time frames.
We have two packages on the board. The packages with a single license cost $100 for a month. The pack includes a license for a demo or real account. The pack with a VPS server, in addition, costs $140 monthly. It includes free installation and free license transfer in addition. The offer costs much compared to the similar lifetime offer on the MQL5 forum. We can expect to get a 30-day money-back guarantee.
Verified Trading Results
The devs do not provide backtest reports. So, we can’t be sure the system was tested well on the past tick data received from brokers to be certain we can set it on the real account.
Forex Profit Robot works on the real USD account on FBS. It trades automatically with 1:1000 leverage on the MetaTrader 4 platform. The account has a verified track record and trading privileges verified badges. It was created on January 04, 2021, funded at $6,218.68, and withdrawn at $5,457.03. Since then, the absolute gain has become +120.63%. An average monthly gain is 47.84%. The maximum drawdown is 23.22%.
The robot traded 339 deals with -436.5 pips. An average win is 5.38 pips when an average loss is -10.43 pips. The win-rate is 58% for Longs and 57% for Shorts. An average trade length is an hour and a half. The Profit Factor is 1.62.
The robot focuses on trading AUD/CAD, EUR/GBP, EUR/USD, GBP/USD, USD/CAD, USD/CHF, and USD/JPY, among other symbols it tried. The most profitable and traded currency pair is GBP/USD with 110 deals and $1,748.05.
The robot trades during the second part of the European trading session.
The less traded days are Monday (62 deals) and Friday (42 deals).
The robot works with high risks. There’s a 64.05% chance to lose 10% of the account.
The robot uses Martingale to increase Lot Sizes from 0.05 to 1.00. It’s so dangerous!
March 2021 was started with profitable deals.
Acceptable Drawdowns
Now, the robot works with little drawdowns.
Vendor Transparency
The account has a middle level of transparency, but we know nothing about the developers behind the system and how they pay refund money.
People feedback
We managed to find a profile of Forex Profit Robot on Forex Peace Army. The page has no comments or ratings.
Other notes
The presentation includes a lie that there are over 12000 five-star reviews.