Neural BOT is a Forex robot that trades in the EUR/USD currency pair. According to the vendor, the system is capable of running 24 hours a day. Periodic updates are provided for this system so that it can achieve better results in the future.
Detailed Forex Robot Review
There is no official website for this Forex robot, and all the information available on it can be found on the MQL5 website where it is sold. Here, the vendor has explained in brief how the robot functions and has provided links for live signal and a Telegram Channel. We also have a set of recommendations from the vendor, along with instructions on how to backtest the robot. Finally, there are some screenshots of backtesting results.
Neural BOT is sold on the MQL5 website by a person called Piotr Stepien. Not much is known about this individual, except for the fact that he hails from Poland. We can also see that this developer has built several trading indicators and EAs in the past.
This robot is capable of running on a computer or a Virtual Private Server (VPS). It uses stop losses and take profits as risk management measures. The operation principle of the system is based on Machine Learning and Neural Networks. It has also been mentioned that the frequency of trades is a bit low, so the trader needs to be patient.
You can use this robot to trade in the EUR/USD pair for any timeframe. To get started with the EA, you need to make a minimum deposit of $300. The vendor has provided a link from where you can download the recent settings and upload them onto the EA.
Although leverage of 1:500 is recommended for this robot, you can adjust the money management settings to use different leverage. Neural BOT uses the IC Markets brokerage for trading and only supports hedge accounts.
Neural BOT Strategy Tests
It has been mentioned on the MQL5 page that this robot does not use any dangerous strategies. However, nowhere has the vendor mentioned the actual trading strategy used by the system, which is a bit disappointing. Since trading outcomes largely depend on strategies, it is only natural that traders look for some kind of strategy insight before investing in a robot. In the absence of the same, it becomes difficult to gauge the system’s profitability.
Here we have the results for a backtest conducted between 2018 and 2021. A total net profit of $2215481.33 was generated during this test, using an initial deposit of $300. There were 1836 trades placed during these 3 years, and out of them, 1832 were won. This represents profitability of 99.78%. However, we can see that the relative equity drawdown was a bit high at 47.37%, which might indicate a risky strategy.
Live Account Trading Results
Here we have the live trading results for Neural BOT published on the MQL5 website. This account has only been active for 21 days, during which 74 trades have been placed through it. Out of these trades, 73 have been closed in profit, which means the robot has a win rate of 98.64%.
To date, the total profit generated through this account is $337.07. Now, these results are not verified by trusted third-party websites, which reduces their credibility. Experienced Forex traders generally look for trading statistics verified by Myfxbook, FXBlue, or FXStat, and they will be thoroughly disappointed at this.
You can purchase Neural BOT on MQL5 for $450, which is an exorbitant price to pay, considering it’s a new Forex robot. There is a free demo version of the software that you can download. Unfortunately, the vendor does not offer a money-back guarantee.
There are a few user reviews for Neural BOT on the MQL website. However, we were not able to find any reviews on trusted third-party websites. These reviews cannot be considered authentic, since they have not been verified by a third party. As such, it is obvious that not many traders know about this robot as of now.
After thoroughly evaluating the various aspects of Neural BOT, we would like to say that it is a risky investment prospect.
We don’t know anything about the live performance of this robot or its trading strategy and hence it would be unwise to spend so much money on it.