If you are interested in a fully automated FOREX system that is optimized for trading on the MT5 platform and the EUR/USD currency pair, then, probably you will be interested in Neural Bot. Advertised as a professional trading tool, this expert advisor promises satisfactory trading results achieved without the usage of any risky trading approaches. Orders are protected with SLs, so in case of electricity or internet connection loss, your trades will be stopped to protect your trading account from significant money loss. Although all these claims sound good, we cannot blindly rely on Piotr Stephen’s, the developer of Neural Bot, promises. Therefore, we’ve prepared an unbiased robot review to uncover all the pros and cons of this newly launched mql5 market ATS.
Neural BOT: Characteristics
The operating principles used by Neural Bot EA are neural network and Machine Learning. The robot is optimized for trading on MetaTrader 5 platform. Although it is optimized for trading only 1 currency pair – EUR/USD, traders can use genetic optimization to adjust the EA to work on any currency pair they want. According to the developer, the system rarely performs trades, but the vendor adds that if it trades, it does it successfully. Traders have to be patient with EA and check their results in a few months.
Currency Pairs, Strategy & Timeframe
- The minimum deposit recommended is $300
- The recommended leverage is 1:500
- Traders can also use different leverage with the help of appropriate setting in the Money Management
- The EA trades EUR/USD on any timeframe
- The dev also provides a Genetic optimization where the EA can be adjusted to trade any currency pair you want
- IC Markets is the broker recommended for this EA. It supports only the hedge accounts
Sadly, but the trading approach is undisclosed. The dev only mentioned that the robot does not use any risky approaches. It is not enough for traders to make the right investment decision.
Neural BOT Trading Performance
This is a screenshot of the backtesting results provided by the developer.
The backtesting started in 2018 and ended in 2021. The history quality is 100% real ticks. The account was deposited at $300 and for 3 years of trading, it has generated $2 215 481,33 of the total net profit. The maximal drawdown was 0, 41%. The profit factor was high – 31, 64. The robot placed 1836 trades and won 1832 out of them, which represents a high win rate of 99, 78%.
We have live signal results on the mql5. Let’s analyze how it works.
The trading account was launched on the mql5 on April 14, 2021, and since that time it has shown again the growth of 33.76%. It has already placed 74 trades with an average of 13 trades per week. Over 98% of trades were profitable ones. For an initial deposit of $1000, a profit of 337.61 USD was achieved. The maximum drawdown was 16.2%. The profit factor is high – 29.78. Frankly, we prefer to analyze the trading results placed on reputable third-party websites like myfxbook, fxblue or fxstat, as they reveal more information about an account including the risk to reward ratio, lot size, and more. They provide much useful information, for example we can analyze the trading history and see what trading approach the EA uses in trading.
How much does it cost?
The robot is sold for $450 (the previous price was 400 USD) on the mql5 market. Interested in the EA traders can test the robot on a free Demo account to decide whether it is a good trading tool for them. The demo version of the robot was 1955 time downloaded. The last update of the system was on April 16, 2021. The current version is 1.20. A money-back guarantee is missed.
Reviews from customers
There are 14 reviews written on the MQL5 site for this EA. Most of them are positive and provide a 4-5 star rate for this robot.
From the reviews, we could see that the robot does not trade frequently, but when it trades, most deals are successful.
Most traders recommend this EA.
Should You Use Neural BOT?
|Positive customer reviews||Undisclosed trading approach and methodology|
|Backtesting report represented||A money-back guarantee is not provided|
|No myfxbook or fxblue trading results provided|
As for a Forex EA using neural networks and machine learning principles, Neural Bot failed to provide authentic proof of its performance. The vendor failed to provide a detailed trading strategy explanation as well as does not provide a money-back guarantee. Although the backtesting results were represented, we cannot 100% trust them as they cannot be verified. The dev could easily photoshop it to attract our attention. The absence of live trading results that could be verified by reputable third-party websites like myfxbook, fxblue, or fxstat is another drawback of this FX system. Without them, we cannot analyze the efficacy of the system. Summing everything up, we cannot recommend the system to the public.