Forex Cyborg is a multi-currency Forex robot that allows you to trade in 18 pairs on 15-minute charts. As per vendor claims, the system is built based on a decade’s worth of backtesting data and has high profitability for multiple currency pairs. Full support is provided to the user to ensure the system is functioning at full capacity all the time.
Forex Cyborg: Characteristics
Forex Cyborg is a fully-automated expert advisor running on the MT4 platform. The vendor has placed a lot of emphasis on the accuracy of the backtests and the high win rate. You can use it to trade in numerous currency pairs with the default settings. The risk levels and lot sizes are also adjustable.
You can run Forex Cyborg on the MT4 platform with any broker. After completing your purchase, you will receive a download link via email, along with instructions on how to set the system up on the MT4 platform. This Forex robot has a complex trading algorithm that allows it to adapt to market conditions.
You have the option of adjusting the money management settings as per your preferences. The expert advisor offers two different risk levels, namely “Conservative” and “Normal” and you can use them in conjunction with the currency correlation risk manager. With Forex Cyborg, you don’t need to worry about a minimum leverage and account size or type.
Currency Pairs, Strategy & Timeframe
This robot lets you trade in 20 different currency pairs, namely AUD/CAD, EUR/NZD, AUD/NZD, USD/JPY, USD/CHF, USD/CAD, GBP/USD, GBP/CHF, GBP/CAD, GBP/AUD, EUR/USD, EUR/JPY, EUR/GBP, EUR/CHF, EUR/CAD, EUR/AUD, CHF/JPY, CAD/CHF, AUD/USD, and AUD/CHF. Depending on the currency pair selected, the robot trades between 17:00 GMT and 23:30 GMT.
On the official website, there is no explanation provided for the trading strategy used by the Forex EA. The vendor mentions that the system does not use risky schemes like arbitrage, hedging, and martingale, but the actual trading strategy is not mentioned. We hope to see the technical details of the strategy being included in the future.
Forex Cyborg Trading Performance
The vendor has provided several backtesting results on the official website, but here we shall discuss the one conducted on the AUD/CAD pair from 2010 to 2020 using a 99.90% modeling quality. Using an initial deposit of $10,000, the system was able to generate a total net profit of $3532.95. Out of 888 total trades placed, 658 were won, which represents a win rate of 74.10%. During this time the robot managed 23 maximum consecutive wins and only 6 consecutive losses.
We can see that most trades were closed in profit and that the losses were not too significant. The low relative drawdown of 1.01% is a testament to this fact. During this backtest, the profit factor was 3.42, which is more than satisfactory.
This is one of the live Real (EUR) trading account of Forex Cyborg that has been independently verified by the Myfbook website. It was launched on 2nd July 2017, and to date, 2857 trades have been placed through it. After winning 1998 out of these 2857 trades, the win rate of the system stands at 70% and the net profit generated is 10708.53 Euros.
Although the drawdown is not too low at 29.27%, it is tolerable, while the daily and monthly gains of 0.10% and 3.14% are semi-decent. By checking out the trading history, we can see that the losses have been infrequent. Although the win rate is comparable to that of the backtest, the profit factor of 1.18 is relatively lower.
How Much Does it Cost?
Forex Cyborg offers two distinct pricing plans called Gold and Premium at 499.99 Euros and 599.99 Euros respectively. With the Premium plan, you get 3 licenses for real accounts, whereas, for the Gold plan, you only get one.
This is one of the most expensive Forex EAs we have come across, so it has to deliver exceptional performance to be worth this price tag. The vendor offers a 30 days money-back guarantee for this product.
Reviews From Customers
We found this review for Forex Cyborg on the Forex Peace Army website, where the user has stated that the system has brought him decent profits. He has also claimed to have made 250% profits in 3 years with this robot. Since there are not too many reviews for this EA, we cannot tell whether most traders trust it or not.
Should You Use Forex Cyborg EA?
|Verified live trading results||Highly expensive|
|Backtesting data available||Lack of strategy insight|
|Money-back guarantee||High drawdown|
After conducting a detailed assessment of Forex Cyborg and all its components, we can say that it is a legitimate service provider. Using this Forex robot, you can make real profits in the live market. But that being said, it is a highly expensive system that provides no strategy explanation, so the investment might carry a certain level of risk.