A setup and forget type of system in Forex is a definite advantage to Forex traders. This is the reason for the popularity of Forex robots. You need not worry over the numerous details connected to making a trade.

Forex Profit Robot is an MT4 automated system that offers full money management. It claims to provide you with continuous profit when you use its software. Our analysis of this Forex robot will reveal the truth behind the claims of this system. Read this Forex Profit Robot review to find out.

Product Offering

At the outset, the website design is very minimalistic. The information is not presented well. Besides a few words about the robot, the recommendations, price, and contact form there is not much info you can gather about the system.

Vendor transparency is lacking as we are unable to find info about the strategy used, the trading results, and other crucial information. More importantly, there is no mention of the developer or team behind the system, their location, contact info, etc. This makes it difficult to rely on this system.

Forex Profit Robot
Type Fully-automated EA
Price $100 – $140 per month
Strategy Not disclosed
Compatible Platforms MT4
Currency Pairs All
Timeframe Not disclosed
Recommended Min. Deposit $1000
Recommended Deposit $10000
Leverage from 1:500

Forex Profit Robot price

Two main price packages are offered for this system. The first package costs $100 per month. It includes a single license that is valid for an MT4 real or demo account, free installation and support, and free transfer of the license to other MT4 accounts. 

For the second package costing $140 per month, all the features of the first package are included along with an MT4 fast VPS server. A money-back guarantee of 30 days is offered by the vendor. Despite the money-back assurance, the price charged per month is too high when compared to the price of competitor robot systems. 

Trading Strategy

As the vendor does not disclose the strategy used, we are unable to know about the type of advisor this Forex robot belongs to. There is mention of technical analysis performed based on different algorithms but no clear-cut info on the exact approach used. 

A minimum account balance of $1000 and minimum MT4 leverage of 1:500 is recommended by the vendor. The system can be applied on a single chart only and the vendor mentions using the default settings and to consult with support before making any changes. We could not find any information on the currency pairs this system can be used on or the time frame. 

Trading Results

No backtests are posted on the site. Strategy tester reports are a crucial part of any Forex system. They provide a candid view of what the system can do. This is particularly true for the backtests of 99.9% modeling quality. However, the vendor provides trading results verified by the myfxbook site. You can find the screenshot of the trading result below:

Forex Profit Robot Myfxbook

Forex Profit Robot trading results

The real USD account traded via FBS broker with leverage of 1:1000 reveals a profit percentage of 116.83% and an absolute gain of 83.41%. A daily gain of 1.20% and a monthly return of 44.46% are provided. The drawdown for the account is 29.66%. For trading done over two months with 350 trades, the profit factor is 1.60.  

From the trading history, we could see that the lot sizes are too high ranging from 0.09 up to 0.25. The high drawdown and big lot size indicate a high-risk strategy that many traders would steer clear of. Moreover, the discrepancy in the absolute and total gain value is puzzling. 

Customer Reviews

Although the vendor claims on the official site that the system has received more than 12,000 positive reviews, we generally prefer reviews from trusted third-party sites, such as Forexpeacearmy, TrustPilot, etc. The absence of genuine user reviews for the system indicates that it is not a reliable system.

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PROS
Fully automated trading software
Money-back guarantee of 30 days
CONS
Trading results indicate several discrepancies
The sample size is very small
Price is expensive
No user reviews
4.4
Verdict
Wrapping up our review of the Forex Profit Robot, we find the system does not meet several of the crucial points required for a reliable system. To begin with, this Forex robot lacks vendor transparency. The trading results, despite being verified by the myfxbook site, indicate a high drawdown and big lot size, which makes us suspect that the strategy used is of the high-risk category. And, the price is also too high to consider for a beginner trader looking to make profits. The vendor has to focus more on providing a larger sample size and be more transparent for us to recommend the system as a reliable one.

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