Best FX Networks offers a 100% automated process that is compatible with most brokerages. The vendor provides verified trading results and backtesting results for this FX EA. It does not use average or scalping methods for its operation. Instead, the system uses neural networks and special algorithms for identifying profitable trades. The vendor boasts of the successful bids outnumbering the unprofitable orders for the EA since 2021.
Detailed Forex Robot review
As per the info on the official site, this FX EA is created by a team of software developers and experienced traders. This ATS was designed in 2020 and tested using the company funds. There are no further details on the company like its location, and the experience and expertise of its developers, etc.
According to the vendor, the FX EA uses special algorithms for identifying, placing, and closing orders. The process ensures most of the positions are closed with profit. Further, the vendor states that no manual intervention is needed for the process.
The system includes easy parameters and an inbuilt magic number. As per the vendor, it is not necessary to disconnect the expert advisor during the release of impact-creating news. It works with all brokers, STP, ECN, micro, and cent accounts. An automatic risk adjustment feature is present to limit the losses.
Best FX Networks strategy tests
The neural network method used by the vendor combines the best approaches to form a comprehensive system. It involves the use of technical and fundamental data to arrive at accurate results. There is no further explanation present on the approach used. A backtesting report is provided by the vendor for the EURJPY pair with the testing done from 2019 to 2021. Here is a screenshot of the backtest.
From the above strategy tester report, we can see a total net profit of 291975 was generated for a total of 342 trades. The profitability was 95.61% and the profit factor was 26.53. A maximum drawdown of 20.78% was present for the account which started with an initial deposit of 900. From the results, we can see the profits are high and the drawdown is low indicating a decent performance.
Live account trading results
A live real CNH account verified by the FXBlue site is present. Here is a screenshot of the trading stats.
From the above stats, we can see a total profit of 338.9% is generated for the account with a history of 75 days. The monthly and weekly returns are 75.9% and 14.4% respectively. Profitability of 91.9% is present and the profit factor is 39.42. No drawdown is present for the account. From the results, we can see that profits look decent and there is no drawdown. Comparing the backtesting results with the live results the stats show similar profitability indicating an effective performance and strategy. But the sample size is very small so we cannot predict a similar result in the long term.
To purchase this FX EA, you need to choose from the three available packages namely the Business ($129), Standard ($149), and the Premium ($169) packages. All the packages include a lifetime license, free updates, and support. They differ in the number of real and demo accounts offered. While the business package allows one real and one demo account, the standard and premium packages offer 2 and 3 each of demo and real accounts respectively. There is no mention of a money-back assurance, which makes us doubt the reliability of the system. When compared to the price of competitor systems in the market, we find the pricing is affordable.
Unfortunately, we could not find reviews for this FX robot on reputed third-party reviews sites like Forexpeacearmy, Trustpilot, etc.
For support, the vendor offers an online contact form and an email address. There are no other support methods offered like, live chat, FAQ, contact number, etc.
Best FX Networks promises a highly profitable system that uses neural network technology. The vendor offers live verified stats and a strategy tester report as proof of the performance. When compared to the market average, we find the pricing is affordable.
However, there is no refund offer present which makes us suspect the reliability. Other drawbacks we noticed in the system include the small sample size. While the trading stats show high profits, the small sample makes it difficult to predict the performance of the system in the long term.