Neural Bot is an MT5 tool that assures a fully optimized and independently working system. It works mainly on the EURUSD pair and uses daily market analysis which the developer claims make it an effective automated tool. All updates and tweaks done to the system are ongoing and provided to the user. The orders have stop-loss protection even when there is a sudden power cut or break in the internet connectivity.
Piotr Stepien is the developer of this FX EA. He is from Poland and has three years of experience in the field. He has created 48 products and 2 signals. Other products by the developer include Volume Profile range, BTC Trend MA, and more. Contacting the developer for support is only possible via the private messaging option on the MQL5 site. The minimal info present on the developer and the inadequate support makes us suspect the reliability of the EA.
Features
According to the developer, this FX EA does not use dangerous methods for its trading approach. It uses real SL and TP positions. The main operating principle of this EA is neural networks and machine learning. This FX Robot does not trade frequently but when trades are orders, they are of good quality, as per the developer. It works only on the EURUSD pair. We could not find further explanation of the strategy. The lack of explanation raises a red flag.
How to start trading with Neural BOT
To buy this FX EA, you need to pay $300. A rental option for one year costing $100 is also present. The developer offers a free demo account. For using this EA, you can use any timeframe and the minimum recommended deposit is $300 with the leverage of 1:500. For using the leverage of your choice, you need to make the appropriate changes to the money management settings. The IC Markets broker with a Raw Spread account and the use of a hedge account are the recommendations from the developer.
Backtests
A backtesting report is present on the MQL5 site for this FX EA. From the strategy tester report above, we can see that the initial deposit of $300 had resulted in a total net profit of 2215481.33. For the testing done from 2018 up to 2021, with a modeling quality of 100%, the total trades executed was 1836 which resulted in a profit factor of 31.64 and profitability of 99.78%. The maximum drawdown is 19.70%. Although the results show a high winning rate, it does not mean that the future performance in real trading will be similar.
Verified trading results of Neural BOT
On the MQL5 site, the developer’s signal for this EA is provided. Here is a screenshot of the demo account.
From the above trading info, we can see there is a loss of 0.25%. A maximum drawdown of 41.2% is present for the account which started with an initial deposit of $1007.82 and now has an equity of $870.49. The high drawdown and the loss sustained indicate a high-risk approach is used resulting in poor performance. Furthermore, the absence of a live trading account on sites like myfxbook, FXBlue, etc. raises a red flag for this FX robot.
Customer reviews
We found 22 reviews for this FX EA on the MQL5 site. Here are a few of the user testimonials:
From the feedback, we can see that the EA rarely executes trades, which the users are not happy with. Furthermore, with the opened trades there is a high drawdown. This confirms our analysis of the real trading results and backtests.
Is Neural BOT a viable option?
On evaluating the various aspects of this FX EA, we find that this is not a good system to invest in. Here are the main advantages and disadvantages we found in this EA.
Advantages
- Fully automated system
- Works in any timeframe
Disadvantages
- No explanation of the strategy
- Poor performance in the real trading result
- No money-back guarantee
Summary
Neural Bot assures a high winning rate and low drawdown citing its backtests. However, since the test was based on historical data it does not predict a similar result in real trading which is shown by the real trading result. Other downsides we found in the system are the lack of vendor transparency, inadequate support, and failure of the developer to explain the strategy. From our analysis, it is clear that this is not a reliable expert advisor.
