BestFXNetworks was released about two years ago, and the devs confirm that they have traded with the system in the live market using their own funds. They are proud to report that it has been demonstrating positive results. The EA comes with a customizable money-management system enabling it to adapt to your risk profile and eventually decrease your trading risks. 

This robot has been designed by a team of software developers and traders with considerable trading experience. The parent company is not mentioned, though. Neither is the location and history of the company disclosed. Moreover, the names and professional backgrounds of the devs are unknown.

BestFXNetworks: characteristics

Here are the characteristics of the robot:

  • It is 100% automated and easy to install.
  • The dev provides customer support, which is said to be very helpful and possessive.
  • The system works with all brokers.
  • It supports all account sizes, including Cent, ECN, STP, and micro accounts.
  • The robot performs automatic risk adjustment from total assets.
  • It has a built-in magic number, so you need to disconnect the expert during the news release.
  • Its results are 100% verified.

Currency pairs, strategy & timeframe

The robot’s main trading instrument is the EURJPY symbol. The devs don’t tell us what timeframe it works with or the deposit you need to have in your account while trading with it. 

As per the vendor, BestFXNetworks utilizes special algorithms to open trades and, most importantly, to close them afterward. Apparently, this allows traders to close their positions in total profit, most of the time. It may also interest you to know that the system specifically works with neural networks, which enable it to assess trading data to identify unique trading patterns. The findings are then used to predict how the market will act in the future, and consequently, generate buy/sell orders.  

BestFXNetworks trading performance

Backtest results for this EA are unavailable. We need this data to make a comparison with the live data to see if they match or differ. Furthermore, the stats can give us more insight into the robot’s long-term performance. 

Live trading stats on FxBlue.

The above account has been active for 75 days, and during this trading period, the EA has turned a deposit of $302.06 into a $740.05 profit. As a result, the account balance is now $1042.11. There’s a 91.9% win rate for all the trades completed thus far, with a profit factor of 39.42. About 0.8 trades are carried out in a day, and the monthly and weekly return rates are 75.9% and 14.4%, respectively. Overall, the account’s growth rate is 338.9%, a figure which is undoubtedly remarkable. 

A chart of the monthly returns of the system.

December 2021 is the most profitable month to date. 

Trading history of BestFXNetworks.

The EA trades on the EURJPY currency pair using fixed lot sizes (0.01) and the grid strategy. Many pips have been gained. 

Risk of ruin.

There’s an average win of $13.32 against an average loss of -$3.85, which indicates that the robot is more of a winner than a loser. This has, in turn, maintained the integrity of the account as it only has a 0.2% risk of ruin. The risk/reward is healthy—4.62. The worst trading week recorded a profit of $4.07, while the worst month saw the EA make $48.09 for the account. 

How much does it cost?

There are three pricing options for BestFXNetworks. We have the business and standard packages that cost $129 and $149, respectively. The premium pack is available at $169. You will get these features if you buy the robot: a lifelong license, real and demo accounts, free upgrades, and email support.   

Reviews from customers

Traders have not commented on the workability of this strategy till now. This hints at a system that has not gained popularity yet. 

Should you use BestFXNetworks?

ProsCons
Fair pricingThe devs are unknown
Supports all account sizesLacks backtest results
Good performance on FXBlueCustomer feedback is missing
The grid strategy is applied

Conclusion

BestFXNetworks is fairly priced, works with all account types, and earns a decent income for the owner. So far, the neural networks and the grid strategy have worked to the robot’s advantage. But since the grid trading method is inherently risky, losses made by this EA might increase in the future in case the market misbehaves.