Forex trading is an exciting experience but one that newbie traders are wary of for fear of losing big. Fortunately, automated trading systems lend a helping hand to amateur and experienced traders alike.
Neuro FX Robot is one such system that assures traders of high profits without having to take high risks or invest a lot. The system claims to do all the work for the trader, including executing the trades, analyzing the market, money management, and more. Can you trust this system to provide the profits it guarantees? Here is our analysis of this Forex robot and our recommendation.
According to the vendor info, this expert advisor uses a unique trade algorithm for trade management that is a non-Martingale system. Its vendor claims that it is professionally designed to reduce losses and identify the trades with the best profits.
The main features of this automated trading system include the use of the automatic lot and current balance for risk management, compatibility with all brokers, STP, cent and micro-accounts, and easy parameters. Setting up this system is easy due to the flexible configuration.
Apart from providing a phone contact number and email address for support, we could not spot any info related to the developer or the vendor of this product. This absence of transparency regarding the developer makes us suspicious of the credibility of the software.
Without proper support set up, traders will not be able to resolve their queries and complaints. Moreover, traders will also be wary of believing in a system that does not have a reliable background.
Neuro FX Robot
|Price||$129 – $169|
|Recommended Min. Deposit||$100 – $200|
The pricing of this Forex robot includes three main packages including the basic, standard, and Business packages. All three packages have a lifelong license, automated trading software, and support. The only difference found in them is the number of demo and real accounts provided.
Support is provided 24/5. Unfortunately, there was no word mentioned about a money-back guarantee. Refund policies are provided to instill confidence in the trader about the reliability of the system. With the absence of the refund, it is clear that this system is not to be trusted.
Neuro FX Robot works mainly on the GBPUSD pair and uses the H1 timeframe. This system can be used with any broker and account type. According to vendor recommendation, a minimum of $100 is sufficient for the account balance, but for the best trading, the vendor recommends a balance of $200 with a lot size of 0.01.
As with the vendor information, there is no clear explanation of the strategy used. Except for the mention of the system being non-Martingale, the site has no other details. For trade settings, only the initial setup has to be done by the trader and the automated system takes care of the trades.
A strategy tester report is revealed by the vendor taken over 3 years shows a profit factor of 8.82 and maximal drawdown of 8.18%. This GBPUSD account uses the H1 timeframe with every tick model.
However, we found that the modeling quality is just 90%. A 99.9% modeling quality is preferred as it provides more elaborate details on the strategy testing. Thus, we find the results insufficient to assess the Forex robot’s performance.
The vendor also supplies a real account verified on the FX Blue site. From the details shown in the account statement below, a total return of -6.0%, a monthly return of 33.1%, and a weekly return of 7.1% are present.
For this real and active account started in November 2020, a profit factor of 1.20 is shown. What we are concerned about is the peak drawdown value, which is 52.8%. Such a high drawdown for a non-martingale system and one that uses a low-risk strategy is bad. This indicates the performance is not as assured by the vendor.
We could not find any feedback from users for this Forex robot. Since feedback remains a key factor in assessing the efficacy of a robot, the absence makes it difficult to evaluate this system.