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Forex Bot 28 Review

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Forex Bot 28

ForexBot 28 is a trading solution that was published over a year ago on Forex Store. The presentation looks standardized for that type of system.

We came back to this robot once again to figure out what trading results we have and why Forex Store removed the rate of this advisor. Stopping trading on the account looks suspicious.

What is behind Forex Bot 28?

We have a few details explained and the rest we had to come up with based on what we saw:

  • Forex Bot 28 was designed to work completely automatically on the terminal.
  • The system can be applied to MT4 and MT5 platforms.
  • There’s a Neural Network that manages Entry Price, Take Profits, and Stop Loss levels.
  • It opens orders quite frequently.
  • We have a drawdown control on the board.

Advisor’s rate

  • Forex Store changed the advisor’s rate from 7-8 to 0 because of no actual trading results.
  • It follows NFA regulation rules.
  • So, the system can experience periods of high drawdowns based on the margin it needs.

Forex Store gave the robot two badges:

  • The license is delivered automatically.
  • There’s a 30-day refund policy.

Key Features

  • Automatic trading
  • Money-management system
  • Works on MT4 and MT5
  • We can work with all pairs that are available for trading in a terminal

The deposit requirements are the next for different types of accounts:

  • Aggressive trading requires a $3500 minimum balance on the standard account. The micro accounts require  $350. The cent accounts require $35.
  • Standard trading requires a $5000 minimum balance on the standard account. The micro accounts require  $500. The cent accounts require  $50.
  • Conservative trading requires a  $10000 minimum balance on the standard account. The micro accounts require  $1000. The cent accounts require  $100.
  • The leverage can be higher than 1:500.
  • We don’t know details about time frames.

Trading Strategy

  • It acts like a Grid plus Martingale system
  • The advisor works with many cross pairs.
  • The time frame is H4 (probably) because of high margin requirements.

Unfortunately, we have no backtest report provided. It means that the system could not be tested at all before publishing. We don’t have an opportunity to compare how the system worked with the past data compared with the current trading activities.

Pricing

Forex Bot 28 Pricing

Forex Bot 28 is available for $255 for a lifetime real account license. The pack includes a real account license, MT4 and MT5 versions of the robot, a user guide, free updates, and 24/7 knowledgeable support. There’s a 30-day refund provided only if drawdowns are over 40%.

Trading Performance of Forex Bot 28

Trading Results Chart

The system traded on a real USD account automatically. The broker was FBS. The leverage was 1:1000. The account had a track record verified. It was created on March 21, 2020, and deposited at $10,000. Since then, the absolute gain has become +62.05%. An average monthly gain was 3.26%. The maximum drawdown was 54.79%. The high drawdowns can be a reason of deep Stop Losses that require much margin for a long period to keep order on the market.

Trading Results

The system has closed 2953 deals with -1435.7 pips. An average win was 48.89 pips when an average loss was -100.05 pips. The win rate was 70% for Longs and 63% for Shorts. An average trade length is 4 days. The profit factor was 1.39.

Currency pairs

Currency pairs

The system traded all pairs that are available on the common MT4/MT5 terminal. We may note how dangerous this advisor is looking at the number of lost pips on many currency pairs.

European trading session

The advisor focused on trading during the European trading session.

Risk of ruin

The risks were medium when the system traded.

Trading history

The last trades were closed with huge losses. They can be reasons for stopping the system.

Lost pips

In 2021, the robot has lost 6721 pips. It was profitable only because of luck and aggressive Martingale.

Monthly gain

June was last month.

Customer Support

The developer provides average support. We’ve got our questions answered within half a day.

People Feedback

Page on Forex Peace Army

Forex Robot 28 runs a page on Forex Peace Army. People have left no comments on how the system works.

Forex Robot 28 Summary: Worth it or not?

4

Forex Bot 28 couldn’t convince us that it’s a good advisor to trade. The system doesn’t trade now. Trading results showed aggressive Martingale as the only way to be profitable. The advisor has no people’s feedback. We have no idea why the developers decided not to keep using the system on the real account. As usual, Powered by Forex Store presentations lack people’s feedback. So, we don’t know if the system can make the same profits that we saw on clients’ real accounts.

  • Real-account trading results
  • A money-back guarantee provided
  • No team revealed
  • No settings explanations provided
  • No risk advice given
  • No strategy explanations provided
  • Aggressive Martingale on the board
  • The system has been already stopped
  • The robot lost its rate on Forex Store
  • No people feedback

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