Neural BOT is a Forex robot that is sold on the MQL5 website. According to the vendor, this robot does not trade too frequently, but it only selects those that are profitable. Of course, this is something we need to verify at our end.
You can purchase this robot for the price of $600. This is an exorbitant price for a system that was launched on 26th March 2021. You can rent the EA for 1 year by paying $500 and a free demo version is also available. However, the vendor does not offer a money-back guarantee.
Neural Bot trading strategy
Neural BOT works on the basis of Machine Learning and Neural Networks. The optimal settings are for the EUR/USD pair and you can get started by making a small initial deposit of $300. According to the vendor, you should use 1:500 leverage for this system.
The vendor has not clearly explained the trading strategy used by this robot. They have mentioned that it does not use any dangerous strategies, but we have no idea about the indicators it uses, or how it gauges the strength of a trend. Without proper strategy insight, experienced Forex traders might not feel confident about investing in this EA.
Neural Bot features
Neural BOT is capable of running automatically on your trading terminal. You have the option of running it on a computer or a VPS, but while the robot is active, the system must be turned on. The EA scans the market round-the-clock, and the vendor makes periodic optimizations and updates.
With every trade, Neural BOT uses take profits and stop losses. The stop losses protect your order, even if you experienced a power cut or an internet outage. Although the recommended leverage is 1:500, you can change the Money Management settings to use as much leverage as you like. This EA uses a Raw Spread account for the IC Markets broker and it only supports a hedge account.
You can also optimize the robot to trade in pairs other than EUR/USD. The vendor has provided a guide that tells you how to do this. After performing the optimization, you can use the robot to trade in multiple pairs simultaneously.
Neural Bot backtesting results
This backtest was conducted from 2018 to 2021 with an initial deposit of $300. The EA managed to generate a total profit of $2215481.33 while winning 99.78% of all trades. It placed a total of 1836 trades during this test and had a profit factor of 31.64.
The relative equity drawdown for this backtest is too high at 47.37%. This tells us that the robot follows a risky trading approach. A high drawdown is an indication of high risk and trading with such a system can lead to large losses.
Neural Bot Live trading results
Here we have the live trading results for Neural BOT presented on the MQL5 website. This account has a trading history of just 27 days, and it is unwise to rely on a system that has not been exposed to different market conditions. During these 27 days, the EA placed 111 trades through this account, winning 106 out of them. Here also, we can see that the maximum drawdown for this account is quite high at 41.2%, indicating that the robot trades with high risk.
Seasoned Forex traders look for trading results that are verified by third-party websites like Myfxbook, FXBlue, and FXStat. The vendor can manipulate the results published on other websites, but verified results show the true performance of the system. Since these are not available for Neural BOT, we cannot consider it a reliable system.
Neural Bot reputation
The vendor selling Neural BOT on MQL5 is a Polish trader by the name of Piotr Stepien. We don’t know much about this person or their background, so it is clear whether or not they have the required technical knowledge and experience to build an efficient EA. Other robots sold by this vendor include MACD EA Bot, RoBot RSI, and Close Profit Loss.
There are no verified user reviews for Neural BOT on third-party websites. On the MQL5 page, we can see some reviews, but these cannot be considered authentic, since the vendor could have manipulated them.
Neural Bot review summary
- Strategy– 2/10
- Functionality & Features – 4/10
- Trading Results – 2/10
- Reliability -2/10
- Pricing – 2/10
Conclusion
Neural BOT is an overpriced robot that is not supported by verified trading statistics. Additionally, the vendor does not provide a money-back guarantee for it. Hence, it is too risky to invest in this expert advisor.
