Hot Profit Robot is an automated trading tool that claims to help the trader profit from the Forex market. It is said that when you subscribe to the robot, you will take part in more than 10 years of FX experience in the form of an EA. According to the vendor, their primary goal is to help trades succeed. We have assessed this robot and it is clear to us that the vendor’s promises are nothing but hot air. The system uses risky tactics in trading, and we are afraid that one the accounts this EA runs will soon be wiped out. Therefore, you should not trust this robot.
Vendor transparency
The company that developed this robot is unknown. Its name, location, year of foundation, contact details, trading experience, and reputation are not indicated. The vendor’s failure to disclose this vital information makes us wonder what it is they are trying to hide. We can hardly trust a team that chooses to operate secretly.
How Hot Profit Robot works
The features of the robot are provided below:
- Runs on the MT4 platform
- Offers customer support
- Push notifications and alerts are present
- Detailed user documentation is provided
- Manages risk for the user by computing lots based on set configurations
- Is fully automated
Timeframe, currency pairs, deposit
Hot Profit Robot works on multiple currency pairs. However, the vendor does not state the time frame it uses or the recommended minimum deposit.
Trading approach
Hot Profit Robot applies a variety of trading approaches. According to the team behind it, the EA thoroughly assesses Forex markets day and night to identify the best lucrative entry opportunities. The robot also targets ranging markets and mainly focuses on SnR and unique candle pattern to trade rebounds from the top and bottom. Furthermore, the system identifies strong price movements brought about by news or political events. It then executes trades early and exits. Lastly, the EA recognizes and tracks the strong long-term trend of a Forex currency.
Pricing and refund
Hot Profit Robot is sold in 3 separate packages. To get the mini package, you will be required to pay €17 per week. The smooth and aggressive packages are available at €64/monthly and €99/monthly respectively. The aggressive plan comes with 2 trading accounts. The other 2 offers incorporate 1 trading account each. The vendor does not provide a money-back guarantee.
The various selling prices of the software are expensive compared to the average cost of other Forex robots in the market. Therefore, if you purchase it, you will be making a terrible investment decision.
Trading results
There is no backtest report for this robot. The vendor has rubbished such data. In their official website, they have said that the past performance of any trading system or approach is not necessarily indicative of future results. So, we have no idea of how the system performed in the past and its profitability potential.
The vendor has supplied us with live trading results from myfxbook.com. We have evaluated the results below:
The EA operated a real USD account with the FBS broker on the MT4 platform using a leverage of 1:500. Clearly, the account is performing very poorly. We can see that it was activated on June 8, 2021 and last updated on July 29, 2021. It is less than 2 months old.
The system performed quite well in the beginning but starting July, it took up a worrying trend. So far, it has made a loss of -$4,480.02. The gain is also negative (-62.33%). The account balance has reduced from $7,906.40 to $564.98. A total of $869.43 has been withdrawn. It seems that the trader has sensed the danger presented to the account and decided to salvage some money from it.
The daily and monthly profits currently stand at -1.67% and -39.29% respectively. The drawdown of 98.29% is extremely large. This is very bad as the account can be wiped out at any moment.
The robot has managed to carry out 364 trades. The win rate for long trading positions is 70% and 67% for short ones. The profit factor which is 0.78 shows us the low profitability rate of the account. The account has made 64.3 pips. The average loss (-31.51 pips) has surpassed the average win (14.44 pips). This is not a good sign as it indicates that the account makes more losses than profits. The EA has traded with 167.70 lots which are very high and dangerous.
The risk of losing the account is very high. In fact, if it makes a single loss, then that will be the end of it.
It is evident that the performance of the account in July is extremely bad as it has made a loss of -74.04%.
Clearly, the account traded with fixed lot sizes of 0.13. The gains made were poor.
People say that Hot Profit Robot is…
We do not know what people say what this robot is. This is because we could not find user testimonials for the system on popular sites like Forex Peace Army, Trustpilot, and Quora.
Verdict
Pros
- Is fully automated
- Offers customer support
Cons
- Backtest results are not provided
- Poor performance as shown by the trading results
- Lack of customer feedback
Hot Profit Robot Conclusion
Hot Profit Robot is not a trustworthy robot. The trading approach it uses is very risky. This is why in less than two months the EA has made massive losses that threaten to blow up the account. The absence of user reviews shows that the system is not popular with traders. Based on these findings, we believe that traders would be better off without this product.
