Hot Profit Robot makes similar claims as to any other EA in the market. The expert advisor comes with a step by step guide to set it up. The company provides full support to help traders achieve the performance they require.
Detailed Forex Robot Review
The vendor fails to provide any good information on their whereabouts and trading experience. The tabs on the website that would take us to About Us does not work. This kind of poor interface is not good for the reputation of the system.
Hot Profit has the following set of features:
- Customer support available from the developers
- It comes with an easy step by step guide
- Uses risk management to control trades
- Has verified records for performance analysis
How does it work?
For proper functioning of the system, you have to place the ex4 file sent over by the developer in the experts’ directory of the MetaTrader platform. Place the robot on the respective chart and enable auto trading to begin trading. You also have to provide your trading account number to the developer so he can enable the license.
Hot Profit Robot Strategy Tests
The robot uses three different types of strategies to capitalize on the markets:
- The range trap uses the bounces from top and bottom candlestick patterns which is based on unique SnR.
- The momentum uses the volatility generate by news events to get in on a good price movement
- The trend capture uses fundamental and technical analysis to identify and capitalize on long-term trends in the market.
There is no further information on strategy; therefore, we dived into the history on Myfxbook. The robot holds trades for a single day while utilizing multiple currency pairs. It uses both grid and martingale strategies which are called extremely risky as they can turn any account into dust within seconds. This is also evident from the drop in the equity curve.
Real Live Trading Results
Verified trading records are available on Myfxbook, which shows performance from June 8, 2021, till the current date. The robot had a monthly gain of 99.82%, with a drawdown of 82.32%. It made a total of 213 trades and traded 97.88 lots. A high drawdown value suggests that the EA lost almost all of the initial balance value before actually turning in any profits. The winning rate was 74% with a profit factor of 1.84. The best trade was $442.80, while the worst one was -$494.17.
The robot is only available through multiple subscription plans laid out on the website. It can cost 17 Euros per week for a single trading account on MT4. A monthly subscription will cost you 64 Euros, and the expert advisor will trade with lower risk. The EA will cost 99 Euros a month for aggressive settings and can work on two different trading accounts.
Hot Profit Robot has no reviews available on noted platforms such as Forex Peace Army and TrustPilot. This shows that the expert advisor is relatively new and is not tested by many traders. Failure to get any good feedback also enforces the fact that no one had good results until now.
Hot Profit Robot uses risky strategies such as martingale and grid to profit in the markets. It does not have a reliable background and fails to provide information on real developers of the system. All the negative facts make it extremely risky to invest in the expert advisor till now.