How good is a new ForexBot28 robot?
Welcome back, commander! )) We’d like you to read a fresh review about ForexBot28. So, what’s up? We have a two-page presentation on the plate. If we got correct the EA trades 28 symbols. “It works … proves this by trading … 3 years!” It’s a lie. The previous account has been closed. We’ve got a brand new one that has been launched at the end of March 2020. Someone forgot to change the text of his or her presentation. The presentation told nothing about the strategy. If it trades all the pairs it can have a price action trading strategy or something like this.
The list of requirement and other features:
- Three levels of the deposit requirements for different types of trading activity:
- Conservative mode requires $10000 ($1000 for micro and $100 for cent accounts).
- Normal mode requires $5000 ($500 for micro and $50 for cent accounts).
- The aggressive mode requires $3500 ($350 for micro and $35 for cent accounts).
- Drawdown control (money-management system SL, Trailing SL?).
- It fits any broker.
- NFA compatibility.
- 5.2/10 overall rating on ForexStore.
EA is powered by Forex Store.
ForexBot28 Trading Performance
We’ve got a brand-new real USD account on FBS with 1:1000 leverage on the MetaTrader 4 platform. As we can see, the EA doesn’t use technical analysis. The account has been deployed on 21 of March 2020 and funded at $10000. It’s a very solid the first funding. The monthly gain is 4.67%. The max drawdown with that leverage was 100% (-48.73%).
The robot traded 644 trades with -5339 pips. The average win ($14.17) equals the average loss (-$15.63). The average win-rate varies depend on longs (63%) or shorts (55%). The best trade was $563 and the worst one was -$162. The average trade length was two days. The profit factor was 1.32.
The results so vary depend on the symbol the EA worked with.
EA prefers trading mostly during the European trading session.
The account runs with medium risks.
EA doesn’t work with the fixed lots, so, they vary depending on currency and other parameters behind the system.
Nevertheless, results are good comparing to the risks the account is run.
EA hasn’t got any favorite symbol.
It costs $255. We’ll receive a 30-day money-back guarantee, support, updates.
- 28 symbols to work with
- NFA support
- Powered by ForexStore
- Ok rate on ForexStore
- Good trading results
- Good profit factor
- Fair price
- The 30-day money-back guarantee
- Lack of strategy explanations
- Insane max drawdown
- It trades without fixed lots
- 3 years account has been removed
- Lack of trading results on the new account
- Trading without SL and TP levels
We’ve got mixed feelings about the robot. So, you can safely try it. It costs little money and the dev provides a 30-day money-back guarantee. During the last three months, the robot traded ok. We can’t say it rocked, but, in general, it got mediocre+ results. The only thing that warns us is that there was trading without SL and TP placement. So, running this EA on the real account you have to 100% trust it because the EA can zero the account for several hours.