How does Forex Cyborg EA work in 2020?
Visiting the official site we find the 20 or 30 pages presentation. Let’s find the most important to describe how the robot performs.
The EA is a multi-currency trading solution trades on the M15 chart. The robot is introduced as a solution for “professional traders”. EA runs with the default settings the rest a user can manage like risk per trade, lot size. The robot is a fully-automated solution, works on the MetaTrader 4 platform. The company provides 24/7 dedicated support.
The robot works with no martingale, no hedging & no arbitrage. The new currency correlation risk-manager provides help with managing risks. Forex Cyborg has got its own trading hours discipline. It trades from 18:30 to 23:30 GMT. The robot doesn’t require any specific account of the deposit or leverage level.
Strategy tester reports
It’s the backtest report of the AUD/CAD currency pair, that’s performed on the M15 time frame. The deposit has been $1000, total net profit was $2107. The profit factor is 3.53. The maximal DDs and relative drawdown are so little: 4.32% and 6.67%. The win-rate for shorts was 78.11% for longs 70.0%. The average profit trade is $7.28 loss one -$6.22.
It’s a backtest with fixed the 8% risk rate. We’ve got AUD/CAD currency pair, M15 time frame. The deposit has been $1000. Total profit amounted to $23104. The profit factor was 2.72. The short position win-rate was 78.11, longs one 70.0%.
Myfxbook verified trading results
The devs provide three real accounts: USD, CAD, and EUR ones. Trading on USD one has been stopped in September 2019. The CAD account has a lot of data closed from checking.
So, we’ve got the last one – real EUR. The robot trades through the Darwinex brokerage company, with a 1:200 leverage level, on the MetaTrader 4 platform. The account has been funded on €15476 and withdrawn €4255. The account is online for two years and a half. The highest balance has been reached on December 06 in 2019 and equaled €26579. Total account gain equals +287%, the monthly gain is 4.29% with high drawdowns (29.27%).
The robot traded 1968 deals with 5346 pips. The average win-rate is between 67% and 74%. The profit factor is 1.42. The average loss (-€57) almost two times higher than win (€33). The average trade length is almost 10 hours.
The robot trades completely unpredictably. It means that patterns are not so well-shaped, as well as, the money-management system works not so good.
Forex Cyborg trades 20 currency pairs. Three of theme have been traded with losses. EUR/GBP was -€658, GBP/CHF -€1749, and GBP/USD -€1421.
The robot runs with high risk. So, in order to lose 10% of the account, there’ll have to be traded 43 deal with loss. The rate of this equals 6.2%.
Forex Cyborg offer
There exist two packages of the product. Gold one costs €500 and includes a real account, infinity demo ones, 18 currency pairs trading allowed, support, and free updates. The Premium package costs €600 and includes all the described and 3 real licenses totally. The seller provides the 30-day money-back guarantee.
Review Summary
Pros
- Good two years profitability
- Backtests are provided
Cons
- Lack of strategy explanations
- Huge losses
- High-risk trading
- High drawdowns
- Extremely high price
Forex Cyborg doesn’t cost that price at all. €500 for the robot that can easily lose -27% of the account balance is too much. The devs told about the implemented money-manager but months with losses happen consistently. If the devs don’t solve this issue for years it means that exactly how the robot works. At the same time, the seller gives the 30-day money-back guarantee and as many demo accounts as we need. If you still want to try it can be an option.
