Forex Profit Robot is a robot without a professional presentation. The site lacks much useful information about the robot and what we have to expect from it. Today we will provide you with a detailed Forex Profit robot review to help you decide whether this Forex system is a good choice to be trusted.
Forex Profit Robot: Characteristics
There are a few lines of the Forex Profit Robot’s characteristics:
- The system trades automatically for us.
- The robot can be used only on the MetaTrader 4 platform.
- The unbuilt money-management system calculates Lot Sizes for each trade the robot is going to place.
- The expert advisor allows us to set Lot Sizes manually for each deal.
- There’s a feature that allows disabling several of the currency pairs.
- The robot delivers well-shaped and tuned default settings.
- We have to attach the robot to a single chart only.
- If we want to change settings, we have to ask the support in advance before applying them live.
- The developers provided no info about the time frame the robot works on.
Currency Pairs, Strategy & Timeframe
- The robot uses an unfriendly Grid with Martingale most likely on the trend strategy.
- It works with AUD/CAD, EUR/GBP, EUR/USD, GBP/USD, USD/CAD, USD/CHF, USD/JPY.
- We have to deposit at least $1000 to get started.
- The leverage has to be set at 1:500.
Forex Profit Robot Trading Performance
The system isn’t featured by backtest reports. It’s a significant disadvantage because we don’t know how the system handled past several-year tick data.
Forex Profit Robot runs a real USD account on FBS with 1:1000 leverage trading on the MetaTrader 4 platform. The account has a verified track record badge. It was created on January 04, 2021, deposited at $6218, and withdrawn at $5457. Since then, the absolute gain has amounted to +113.92%. An average monthly gain is 52.15%. The maximum drawdown is 23.22%.
The robot has closed 328 deals with -530.1 pips. An average win is 4.98 pips when an average loss is -10.36 pips. The win-rate is low: 57% for Longs and 56% for Shorts. An average trade length is over an hour. So, most likely, it works on the M5 time frame. The Profit Factor was an average one – 1.61.
The robot trades AUD/CAD, EUR/GBP, EUR/USD, GBP/USD, USD/CAD, USD/CHF, and USD/JPY. The most profitable and traded is GBP/USD with 110 deals and $1748 of profit.
The robot focuses on trading the break-out hours during the European trading session.
Tuesday (76 deals) and Wednesday (79) are the most frequently traded days.
The expert advisor runs the account with insanely high risks.
The robot uses increasing Lot Sizes 8 times to cover after losses.
The robot is profitable so far, but we don’t know how long it will go.
How much does it cost?
The robot is introduced in two packages. The one-license pack costs $100 monthly. It includes a license for a demo or real account. The one-license plus a VPS server service pack costs $140 monthly. It includes, in addition, free installation and free license transfer. Both of them are overpriced. There is a 30-day money-back guarantee.
Reviews from customers
The robot has a profile on Forex Peace Army. There’s no feedback or rate. The real account is connected to this page.
Should You Use Forex Profit Robot?
|Real account trading results||No strategy explanation provided|
|Money-back-guarantee provided||No settings details revealed|
|No backtest reports shared|
|High-risk trading activities|
|There’s an aggressive Martingale with Grid on the board|
|No people feedback provided|
|We’re not sure about their money-back-guarantee|
Forex Profit Robot looks like a scary solution we have seen many times during our trading experience. The system is based on aggressive Martingale and Grid. The robot has pips gained at -530.1. It means the robot trades in profits only by using margin, not the well-designed main strategy. This robot isn’t welcome for beginners because you have to understand much to handle its performance.