Assuring traders of a fully automated Forex trading system, Neuro FX Robot uses a unique algorithm for its trading strategy. This Forex robot claims that it can bring profits to traders without investing huge capital and without prior experience in trading.
With so many Forex robots luring traders with similar promises, how does the Neuro FX Robot stand out? Can you trust this expert advisor with your hard-earned money? Find out what our experts reveal in this detailed review.
Is Investing in Neuro FX Robot a Good Decision?
From our analysis of the various aspects of the Neuro FX Robot system including its features, functionality, vendor transparency, and trading results, we have found that it is not a system that we would recommend. The main reasons for our decision are:
- Lack of vendor transparency
- Inadequate explanation of the strategy used
- Ineffective and manipulated trading results
Neuro FX Robot Company Profile
One of the key factors that indicate a Forex robot is reliable is from the information provided about the developer team or vendor of the trading system. We could not find any such information on the official page of this expert advisor. This raises a red flag as it is difficult to verify whether the Forex robot is genuine or not without contact information or other related details about the vendor.
There is not much information given on the features. Risk management is done by this system using automatic lot selection that relies on the current balance of the trader. It is compatible with all brokers, STP, Cent, and Micro accounts.
According to the vendor, setting up is easy including the setting of parameters. This EA uses default settings and focuses mainly on the GBPUSD pair on the H1 timeframe. The minimum recommended deposit is $100 for a lot size of 0.01 and the best-recommended deposit is $200 for a lot size of 0.01.
Furthermore, the information provided regarding the strategy used is not sufficient to assess the effectiveness of the software. Other than the mention of the use of the non-Martingale system for trade management we could not find the precise strategy employed by this Forex robot to execute the trades.
This Forex robot is available in three main packages, namely basic, regular, and the business pack with each costing $129, $149, and $169 respectively. While all three come with a lifetime license, 24/5 support, and fully automated trading, they differ in the number of real and demo accounts offered. Although the price is not on the expensive side, the vendor does not offer a money-back assurance, which makes us suspicious of the reliability of this system.
Backtesting results displayed on the official site shown in the screenshot below indicate strategy testing done on the GBPUSD pair over a three-year period on a one-hour timeframe. However, we were disappointed with the modeling quality of 90% as it does not provide the detailed information we need for the analysis, like the commission, spreads, etc.
A live account trading result verified on the FXBlue site is revealed on the official site. We could find total returns of 40%, a monthly return of 38%, and a weekly return of 8%. The trading history of 31 days indicates a very short duration. And, the peak drawdown of 38.4% is on the higher side indicating a high-risk strategy used by the system.
We could not find customer feedback for this system including the official site. Due to the lack of user reviews, we could not gain a better insight into the functionality and effectiveness of the system.
Neuro FX Robot Review Summary
Wrapping up our Neuro FX Robot review, we have provided all the pertinent facts that corroborate our initial conclusion that this automated Forex system is not reliable. Poor performance and lack of vendor transparency are two significant shortcomings that this system needs to improve on. While the trading results are verified on the FXBlue site, there should be verified myfxbook results as they provide more in-depth information about the robot’s strategy and effectiveness.