IProfit is a trading advisor that was designed for working on the MT4 platform. According to the developers’ claim, it’s “The World’s Most Successful Neural Network Strategy.” When you hear “Neural Network plus Strategy,” it’s most likely a scam.
There are four packages introduced where two of them are subscriptions. The subscription Robot pack costs $470. The copy-trading pack costs $299 annually. The lifetime robot pack costs $1099. The lifetime copy-trading package costs $849. The first pack can be used on two accounts, the second one only on a single account.
We can rely on the refund policy. So, it’s a solid con because we won’t get our money back if something happens.
IProfit EA Strategy
- The robot works under a strategy that is based on the Neural Network.
- The robot works with six symbols according to trading results.
- We don’t know what time frame the robot works on.
IProfit EA Features
The presentation includes several schemes of settings and features:
- The system adapts dynamically to the most recent price action. It calculates predictions where the market goes.
- The system executes orders fully automatically.
- The real account where the robot works was created in 2013.
- The backtest united over 12 years of tick data. It was performed with 99.99% of the quality.
- The system has generated over 8000 pips since it was released.
- An average monthly gain is 170 pips.
- It places Take Profit and Stop Loss levels.
- The system doesn’t perform risky strategies.
- We are allowed to trade with five currency pairs: EUR/USD, EUR/JPY, XAU/USD, GBP/USD, and AUD/USD.
- We can buy a system, subscribe for copy-trading or receive signals.
- An average trade expectation is 4 pips.
IProfit EA Backtesting Results
It’s a short version of the EUR/USD backtest report on the unmentioned time frame. The modeling quality was 99.90% with 10 pips spread. There were 73,652 bars in the test. An initial deposit was $10,000. The total net profit has become $6,825.10. The Profit Factor was 1.26. There were 1814 deals traded. The maximum drawdown was 5.49%. The win-rate was 58% for Shorts and 59% for Longs.
IProfit EA Trading Results
IProfit EA runs a real AUD account on IC Markets automatically. It works on MT4. The leverage is 1:500. The account has lost a verified track record badge that the system had half a year ago. It was created on August 26, 2013. Since then, the absolute gain has become 199.05%. An average monthly gain is 1.19%. The maximum drawdown is 25.47%.
As we can see, 2021 is horrible for the robot.
IProfit EA has closed 5076 deals with 41,836 pips and 100.93 Lots. An average win is 66.16 pips when an average loss is -72.32 pips. The win-rate is 57% for Longs and 59% for Shorts. An average trade length is three hours and half. The Profit Factor is 1.14.
AUD/USD (1101) and EUR/USD (1157 deals) are the most frequently traded symbols. The most profitable in pips is Gold, with 36875 pips.
The system focuses on opening orders during the European trading session.
Wednesday is the most active day to trade.
The risks are medium to the account balance. For losing 10%, the system has to lose 44 deals in a row.
The last trading results look dangerous.
Now, we can say for sure that the system is a scam.
IProfit EA Reputation
The presentation is featured with several positive testimonials from faceless people.
IProfit EA Review Summary
- Strategy – score (3/10)
- Functionality & Features – score (2/10)
- Trading Results – score (3/10)
- Reliability – score (3/10)
- Pricing – score (3/10)
Conclusion
IProfit EA has slowly but surely become a scam. According to trading results, the developers didn’t update it for a long time. At least over more than one year, the robot stopped increasing the account balance. It isn’t supported by a money-back guarantee. So, we are not safe buying this robot.
