Hot Profit Robot claims to be able to identify the most lucrative trading opportunities in the Forex market. It is a 100% automated trading system that is backed by independently verified live trading results. In the words of the vendor, this service offers traders a fast track to success. However, this is something that we need to verify at our end.
There are three pricing plans for this robot, namely Mini, Smooth, and Aggressive. The first one is a weekly plan that costs 17 Euros per week and gives you access to a single trading account. For the Smooth and Aggressive plans, you have to pay monthly fees of 64 Euros and 99 Euros respectively. With the latter, you can access 2 trading accounts. The vendor does not offer a money-back guarantee for any of the plans.
Hot Profit Robot Trading Strategy
This is a Forex EA that scans the market round-the-clock to seek out trading occasions. After executing the trade it calculates the stop loss and take profit prices. It mainly uses three strategies called Range Trap, Momentum Rider, and Trend Capture.
The first strategy is used for a ranging market where it is otherwise quite difficult to make sizable profits. It is a medium-range strategy that focuses on Support and Resistance and candle pattern to deal in positive and negative price bounces.
Momentum rider is a strategy that tries to take advantage of the sharp price shifts that occur after a major political event or news release. In such a scenario, the robot enters trade early and makes a quick exit after locking in the profit. The third and final strategy involves the usage of technical and fundamental analysis to follow the long-term trends for a pair.
Hot Profit Robot Features
This EA sends trading alerts to your mobile via push notification as well as alerts on the Metatrader 4 platform. The customer support team remains active 2487 to answer all your queries. After signing up for the service, you get a comprehensive user guide that explains the workings of the EA and allows you to set it up.
Hot Profit Robot Backtesting Results
We don’t have the backtesting results for Hot Profit Robot on the official website. It is vital for EA vendors to test their strategies through high-quality backtests. When a robot has decent backtesting results, you know that it is able to endure long periods of market drawdown. The absence of the same might cause many investors to shy away from this EA.
Hot Profit Robot Live Trading Results
Here we have a live trading account for Hot Profit Robot on the Myfxbook website. It was launched on June 1st, 2021, and to date, the robot has placed 332 trades through this account. As we can see, the performance of the robot has been quite dismal, and currently, the account is running at a loss of -94.7%. This is quite unacceptable and no serious trader would even consider buying a robot that has such a horrible track record.
The daily and monthly gains for this account are -5.39% and -81.38% respectively, while the drawdown is incredibly high at 98.29%. This indicates a high-risk trading approach that has the potential to cause large losses. Rather than generating a profit, the account has suffered a loss of $4772.60.
The recent results tell us just how risky this EA really is. We can see that the losses have been as large as -46.40%. There is no way we can trust in a robot that trades with such a high level of risk.
Hot Profit Robot Reputation
We don’t have any information on the parent company behind Hot Profit Robot. It is unclear whether this developer has built other Forex robots in the past. The vendor has not maintained transparency when it comes to the company’s service history and location. This is yet another reason to stay away from this system.
There are customer reviews for this EA on websites like Myfxbook, Quora, Forexpeacearmy, and Trustpilot. It seems that not many people trust this EA, and it does not have much of a reputation in the industry as of now.
Hot Profit Robot Review Summary
- Strategy – 2/10
- Functionality & Features – 3/10
- Trading Results – 2/10
- Reliability – 2/10
- Pricing – 3/10
Conclusion
Hot Profit Robot is not a system you can trust with your profits. The live trading results speak for themselves and this EA has an extremely disappointing track record. On top of that, the vendor does not offer a money-back guarantee for this product.
