Neural Bot is an automatic trading system created to work on the MT5 platform. This FX Robot supports the EURUSD pair mainly and claims to be more successful than manual trading. Developed by Piotr Stepien and published in March 2021, this ATS has been constantly updated and its current version is 1.20.
Piotr Stepien is from Poland and has two years of trading experience. He has developed 50 products, two signals, and 61 demo versions and has a rating of 4.5/5 for the combined products, freelance orders, and signals he has worked on. Other products of the developer include BTC Trend MA, Robot RSI, and more.
With numerous expert advisors in the market using diverse strategies, picking an effective one can be an uphill task. There are several things you need to verify like the performance, features, pricing, and more. Fortunately, our list of the best Forex Robots makes your task easier and efficient. Have a look at our best forex robots list and find how easy it is to decide on a suitable FX EA.
Neural BOT Overview
As with other FX Robots promoted on the MQL5 site, there is very little info provided for this EA. The main features of this system that the vendor promotes include
- The Robot uses Neural networks and machine learning
- Trades are rarely performed but are of good quality
- Works mainly on the EURUSD pair but can be adapted to work on other currency pairs. This adaptive feature applies to advanced users only
You need to pay $450 for purchasing this FX EA. A free demo version is available for users to try the software before deciding on buying it. When compared to the other FX robots in the market, the price of this EA is exorbitant. With only a bare minimum of features and no proven track record, we find this ATS is not a worthwhile investment.
How it works
As per the developer, the FX Robot conducts a market analysis 24 hours per day and works independently on your MT5 terminal. You can use it on your VPS or your computer. All updates and adaptations are constantly done to ensure you experience better results. The orders are protected with a stop loss feature even if your internet connectivity is lost. A minimum deposit of $300 is required for this EA and the leverage of 1:500 is suggested by the developer. Any time frame can be used for trading and IC Markets is the recommended broker.
The main principle used for this FX EA includes the use of Machine learning concepts and Neural Networks. Although the developer does not reveal the trading approach used, he claims that this system does not use dangerous strategies. Real TP and SL are used for this ATS. We are disappointed to note that the developer is not transparent about the approach used for this EA. The lack of explanation raises our doubts concerning the reliability of this MT5 tool.
Backtests are provided on the official site with a history quality of 100%. From the report done from 2018 up to 2021, we could see a total net profit of $2,215,481.33 for a deposit of $300 with a profit factor of 31.64. The maximum drawdown value is 0.41% for the balance and 19.70% for the equity.
Trading results for this EA are present on the MQL5 site. Here are a few screenshots of the results:
From the stats, displayed in the images above we could see a growth of 33.76% for an initial deposit of $1000. The trading has begun from April 15, 2021, for this live account with the total trading days being 21. A maximum drawdown of 16.2% is shown with a profitability of 98.6%. The profit factor value is 28.46.
We prefer trading results verified by sites like Myfxbook, FXBlue, and FXStat as the details available are more insightful and help us evaluate the EA more effectively. From the trading stats shown here, we can see that the growth percentage is very low and not as profitable as per the claims of the developer. Furthermore, the sample size is very small so the results cannot be used to evaluate the overall performance accurately. When compared with the strategy tester report we can see the profits are less and the drawdown is higher in the real account results.
We have found 15 user reviews on the MQL5 site for this ATS. Most of the testimonials are positive:
From the feedback, we can see that the FX Robot is operative and trades with TP. But more than one user mentions that the EA takes time to open trades. One of the reviews mentions having a drawdown of 29%, which is much more than the comfortable level of risk that the developer assures.