BestFXNetworks wants to assist you to conquer the market through automated trading. The EA, which works with neural networks, is said to be the best in the market. As per the vendor, this system has shown positive dynamics, where the number of successful bids always surpasses the unproductive ones. 

Not much is known about the developers of this EA. The only available information indicates that the team comprises software developers with substantial trading experience. No names or the professionals’ qualifications are mentioned. We also don’t know their physical headquarters or if they have created other trading tools for the Forex market. 

Product offering

The robot has the following features:

  • Works with all brokers, STP, ECN, Cent, or Micro accounts
  • Offers full customer support and free updates
  • Is easy to set up
  • Has a built-in magic number, so there is no need to disconnect it at the time of news release

There are three pricing packages for this EA. We have the business, standard, and premium plans that cost $129, $149, and $169, respectively. Each pack provides a license that will allow you to trade on real and demo accounts. However, the number of accounts received depends on the package. The costlier the package, the higher the number of accounts received, and vice-versa.

Trading strategy

The EA’s strategy is based on neural networks. In essence, it utilizes neural networks to actively scan the market for the best trading opportunities, and consequently, generate buy/sell orders. 

Trading results

While the vendor has set aside a backtesting section, backtesting results are unavailable. This indicates that the devs are aware of the importance of the test, but their failure to share the data is a mystery. Lucky for us, they have posted a link to the EA’s live results on FXBlue. We have assessed the stats below:

Live trading stats on Fxblue. 

This account, which was opened in November 2021, was deposited at $302.06. The EA has traded on it for 64 days and has made a profit of $537.28 as a result. So, the current balance is $839.34. 

Performance of trades. 

The EA mainly works with the EURJPY currency pair, and so far, a total return rate of 253.5% has been achieved. The win rates for trades (90%) are also outstanding. On a monthly basis, the robot generates 78% profits for the account, which is good.

Risk of ruin.

There’s a risk/reward ratio of 4.81, and the risk of ruin (0.2%) tells us that this account is still safe from being destroyed. The worst week saw the robot make a small profit of $4.07. The average trade length for an order is 35.1 hours. 

Daily trades.

The system prefers to conduct most of its trades on Friday. 

Monthly returns. 

All the trading months have been profitable to date. 

History of trading. 

The EA works with a grid of orders and fixed lot sizes (0.01) and has managed to win all the recent trades.

Customer reviews

BestFXNetworks does not have any reviews on any of the reputable sites like FPA and Trustpilot. This makes it hard to determine if customers have had good or bad experiences with the EA.

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PROS
Reasonable pricing
Live trading stats are present
CONS
Vendor is mysterious
The grid approach is present
No customer feedback
Lack of backtest data
5
Verdict
Verified trading stats for this robot are available on FXBlue. While the results generated look outstanding, you have to remember that the grid approach is part of the trading plan. This strategy is dangerous and can wipe out any gains made in a jiffy. Since the devs are anonymous, we don’t know if they can be trusted or not.

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