Neural BOT is an expert advisor optimized to work on the EURUSD pair and the MT5 platform. It analyses the market 24 hours per day to provide a better trading experience. As per the vendor, the FX robot does not use dangerous trading approaches and restricts to real SL and TP levels. The developer supplies backtesting proof for the EA’s performance.
But there are no verified trading performance results. Besides the lack of a proven track record this ATS is expensive and does not come with a refund offer. Our initial evaluation reveals that this is not a trustworthy EA.
Piotr Stepien is the developer of this FX EA and has published it in March 2021. The current version of the ATS is 1.3 and the last update was done in June 2021. Stepien is from Poland and has an MQL5 rating of 4.3/5. He has two years of experience in trading and has developed 50 products, 2 signals, 79 demo versions, and 148 subscribers.
Other products of the developer include SuperTrend ATR, BTC Bitcoin Trend, Volume Profile Range, and more.No contact information is present for the developer which raises our suspicion about the reliability of the EA.
How Neural BOT Works
As per the developer, the FX robot does not trade frequently but when the trades occur, they are of good quality. The principles of machine learning and neural networks are used for the operation of this FX EA.
According to Stepien, this robot has the capability of adapting to work on other currency pairs after certain optimizations. This system works on the MT5 terminal independently and can be run on a computer or a VPS. The developer mentions that even if internet connectivity is lost or there is a power cut, the orders are protected with stop loss.
Timeframe, Currency Pairs, Deposit
Recommendations for this EA include the use of any time frame, leverage of 1:500, and a minimum deposit of $300. For the broker, the developer recommends IC Markets with a raw spread account and mentions that the system supports only the hedge account. If you need to use leverage other than the recommended level, you need to use appropriate money management settings.
The developer does not divulge the trading approach used. Rather there is mention of neural networks and machine learning principles that help in performing accurate trades. The lack of explanation raises a red flag. Without knowing the strategy used it is difficult to evaluate the performance and effectiveness of the system.
Pricing and Refund
You can purchase this FX robot for $600. A rental option is present and the one-year rental costs $500. The developer does not provide further information on the features included with the package. When compared to the price of other EAs in the market, the price is very expensive and we feel it is not worth the money. Furthermore, there is no money-back assurance which makes us suspect the reliability of the ATS.
The developer provides backtesting and trading results for this EA on the MQL5 site. Here is a screenshot of the strategy tester report:
From the report, we can see a total net profit of 2215481.33 is derived from an initial deposit of 300 tested over 3 years. The maximum drawdown is 19.20% and the profitability of the trades is 99.78%. Modelling quality of 100% is used for the backtest.
The demo account trading results are shown in the screenshot below:
From the above stats, we can see a growth of 49.78%, and a profit of $501.06 for an initial deposit of $1007.82. A total of 26 trading days have been completed with three trades per week on average for the account that started on April 14, 2021. The drawdown is 37.3% which is too high and not as present in the backtesting results. This indicates the strategy used is not effective and can be dangerous to the capital.
People say that Neural BOT is…
Not a reliable EA. From the user reviews posted on the MQL5 site, we can see that the system does not trade much. This can frustrate users. Further, the reviews indicate the drawdown is high and returns are not as promised by the developer. From the feedback below, it is clear that this is not an FX EA traders can trust.
|Fully automated trading||High drawdown|
|Small sample size|
|No money-back assurance|
Neural BOT Conclusion
Neural BOT claims to be a professional system that does not use dangerous strategies. But our analysis of the performance reveals that a high drawdown is present. Further, the account stats are for a small sample size only. Additionally, we cannot assess the real performance from the demo account results. The price of the EA is another major drawback as it is very expensive when compared to the price of its competitor systems. In short, we do not trust this EA.