Today we are reviewing a new Forex robot that claims to help ‘home traders and people who want to earn extra money and make their fortune with successful trading’. Our WHOIS research has shown that the website for this EA was created on March 29, 2021. The team that stands behind this trading tool claims that ‘Hot Profit EA will not leave you without making you succeed.’ How good is this EA? For what profits do we have to expect? In this Hot Profit Robot review, we will be looking at their trading results, strategy, pricing details, and much more to let the community know if this is a viable option or just another quick get rich scheme.
The Hot Profit presentation includes a few paragraphs about their live trading results, key features of the robot, trading strategies, pricing info, and a contact form. An ‘About Us’ page does not work on their website. So, we have no information provided about the developers, their trading experience or headquarter location. Our Whois research shows that their server is located in the US, California. Unfortunately, this information is everything we could find about the server. If the developers do want to be taken seriously, they should be much more transparent about their identity, so that we can verify that they are reputable traders. Otherwise, we are doing in blind and that is not something we expect any of Myfxtools readers to do.
Features
Let’s talk about the key features of this EA, to sum up, what we should expect from running this robot:
- Hot Profit is an automated trading tool that does not require human interference to trade on the MT4 terminal
- The developers have over 10 years of trading experience in the FX market
- The robot works 24/7 analyzing the Forex market and ‘calculating for the best profitable entry opportunities’
- Traders can get notifications on mobile by ‘setting up push notifications and Alerts in EA and MetaTrader settings’
- The devs guarantee a good customer support
- As soon as traders subscribe to this robot, the devs will send a detailed user manual explaining how the EA works and how to set it up on the terminal
- It calculates Take Profit and Stop Loss prices for each open order
- The robot calculates lots based on settings that are set up
- Traders can also trade with fix Lot size or with the one that is calculated and based on their account balance
- There is no information either about the currency pairs the robot trades not about the recommended leverage
- The robot uses 3 trading strategies: range trap, momentum rider, and trend capture
The dev believes that everything we need from Forex trading is outstanding performance, verified proven results, high profitability, and continuous support.
What about the reliability of the system? How can we trust it if even the vendor hides any information that could tell us about his or her personality? If they do think that we can rely on their claims of 10 years’ experience having no proof in hand, they are mistaken. Nobody is interested in giving his money to a no-name person who even fails to provide a money-back guarantee.
How to start trading with Hot Profit Robot
Unfortunately, there is not a lifetime membership offered. Instead, traders have to pay on the monthly basis. So, the vendor offers 3 subscription plans: Mine (17 EUR/month), Smooth (64 EUR/month), and Aggressive (99 EUR/month). The Mini package includes 1 trading account and configuration support. Both Smooth and Aggressive packs come with monthly support but differ in the number of accounts (1 for Smooth and 2 for Aggressive package). The robot is designed to work on the MT4 platform only.
Backtests
There are no backtesting results for Hot Profit EA provided. Strategy tester reports are vital to assess the efficacy of any trading system. Their absence on the dev’s website means that the system is not reliable. Although the backtest results are based on historical data and can’t predict the future performance of Hot Profit EA, traders may use them for a better insight into the robot. It is an important part of any expert advisor presentation.
Verified Trading Results of Hot Profit Robot
This trading account was launched on the myfxbook website on June 1, 2021. The total amount of deposits equals $7,906.40. For 1 month and a half of trading activity, the total gain profit has grown to 78, 03% which equals $4104,79 of income. Although the average daily and monthly gains look good (1, 29% and 46, 10%), the drawdown is scary – 82, 32%. It means that the trading approach the EA uses is very dangerous and risky. The risk to reward ratio is 2:1 based on the average win of $69, 08 and the average loss of -$125, 02. The average win rate is 72% based on 287 trades performed. The robot closes trades with an average frequency of 23 hours and 57 minutes. Its profitability is common for most EAs – 1.41. In the case of 7 consecutive losing trades in a row, a trader will lose 16, 99% of the account balance that based on the current balance equals $1555.
The robot trades with different lot sizes varying from 0,29 to 1, 57.
The advisor uses Martingale to recover after losses.
Customer reviews
Although there is a page created for this EA on Forex Peace Army, there is no customer review written that could tell u more about this expert advisor.
The good sign we see is that the devs commented on real account trading results on this page. The performance test has been already active for 6 weeks and for this time, the robot generated over $5, 7K of income from a deposit of $5, 045.
The robot trades with high drawdowns:
Is Hot Profit Robot a viable option?
Advantages
- Live trading results
Disadvantages
- No backtest report provided
- Small sample size
- Zero vendor transparency
- Only subscription plans offered
- High drawdowns
- Martingale on the board
- No refund policy
Wrapping Up
Although the developer claims that his EA trades with low trading risks, the trading results of this expert advisor reveal that this is an unreliable and dangerous trading tool. It uses 3 strategies plus Martingale to recover after losses. A money-back guarantee is not included. So, investing in Hot Profit EA is a one-way ticket.
