This Broker Profit review is dedicated to a Forex signals provider, claiming to ‘maximize your earnings with minimum efforts’. It promises to generate a stable income no matter what market conditions are. The team behind this trading system believes that their product is a smart solution for those traders, who want to have stable revenue with minimal efforts and time spent on it.
Our first impression of the Broker Profit website was not positive. It is poorly put together and is not aesthetically pleasing. It has strangely organized blocks, which do not provide any important content, which would be useful for traders. Their overall website presentation looks like a total scam. We do not understand why the dev decided to name the product ‘Broker Profit’. Why ‘Broker’? Is it because only brokers profit with this trading software?
Their ‘pricing’ page looks as strange as the whole website presentation. If you click the ‘pricing’ button, you will see the following info:
It is unclear what they sell: signals or EA? The one thing we know is that Broker Profit is available to buy for $300, which includes 1 real and 1 Demo account. We are not told any information about money-back guarantee, customer support, updates, etc. Everything traders need to know about the product before investing their funds in it is untold.
Broker Profit Trading Strategy
One of the cons of this trading system is an undisclosed trading strategy. What type of trading approach and methodology are the developers of Broker Profit using? Lack of information in terms of trading strategy insight is a common mistake for most Forex vendors. Without this sort of info, it is impossible to understand how the system works or whether it uses Martingale, Grid, or Hedging.
The ‘How it Works’ section says that the Broker Profit service provides traders with a trade copier that is meant to mirror the trades of their trading account.
Broker Profit Features
- Signals are generated on the master’s account; traders can follow them on theirs
- Broker Profit promises to provide stable income with minimum efforts (regardless of market conditions)
- 100% automated trading
- No trading experienced needed
- The Broker Profit package includes 1 real and 1 Demo account
- Developers provide 3-rd party verified trading results
- Broker Profit supports AUDJPY, ADUSD, EURAUD, EURCHF, EURUSD, EURJPY, GBPUSD, NZDJPY, NZDUSD, USDCAD, USDCHF, USDJPY currency pairs
The developers provide us with a short guide on how to start trading with Broker Profit:
Broker Profit Backtesting Results
The developers of Broker Profit failed to provide backtesting results on their sales page.
Broker Profit Live Trading Results
On the ‘Real Performance’ page we are provided with live trading results of Broker Profit:
It is a real USD trading account, which was added on January 18, 2015. As you may see, its deposit was withdrawn to “the ground.”
It can only mean that the trader does not trust this EA. So why should we?
The robot has been trading for 183 days. Since the time of its activation, it has brought over $5,269 of profit. Its total return equals 364.0% with an average monthly return of 28.7% and a peak drawdown of 11, 4%.
For over 5 years and 11 months of trading, this robot has traded 486 trades (won 354 out of them) with an average trade length of 21.66h and an average trade frequency of 2.7 trades per day.
It trades multiple currency pairs: AUDUSD, EURAUD, EURGBP, EURUSD, GBPCHF, GBPUSD, USDCAD, USDCHF, and USDJPY. Most of the trades were performed with the GBPUSD symbol (54, 3%).
We do not like that its average win is significantly lower than the average loss: 29.94 vs -40.37. Its risk-reward ratio equals 5.62. The profit factor is 1.99.
The best profit factor has AUDUSD (6, 18). The worst one is on EUR/AUD (0.10).
Broker Profit software has 196 categories, where #9348670 (233 orders) is the most frequently used (has brought over $1,4K of net profit).
Sell direction has brought three times higher net profit than the buy direction:
The robot trades every day as it should be: from Monday to Friday:
The most profitable day is Wednesday – over $3K of net profit, the worst one is Tuesday – only $43.
Broker Profit Reputation
Unfortunately, we have found no information about the company, its trading location, or what experience they have in the Forex market. We only know their email address [email protected]. It is not enough to trust people who stand for this trading system. If we invest $300, we should at least know who the vendors are as well as know whether the service they provide is legitimate. Lack of information is a red flag for Broker Profit.
Broker Profit Review Summary
- Strategy – score (0/10)
- Functionality & Features – score (3/10)
- Trading Results – score (3/10)
- Reliability – score (3/10)
- Pricing – score (4/10)
Conclusion
We do not trust the developers of this Forex system as well as are not encouraged to invest in this suspicious trading tool, which lacks detailed product description and trading strategy insight. Their website is poorly organized and it lacks information where it is the most necessary. We advise the developer to take into account our recommendations and update their website design as well as its content and provide detailed information about themselves and their trading experience. Until it is done, we are not in a position to recommend this service.
