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.
- 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.
- 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.
- 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.
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
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.
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.
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.
The advisor focused on trading during the European trading session.
The risks were medium when the system traded.
The last trades were closed with huge losses. They can be reasons for stopping the system.
In 2021, the robot has lost 6721 pips. It was profitable only because of luck and aggressive Martingale.
June was last month.
The developer provides average support. We’ve got our questions answered within half a day.
Forex Robot 28 runs a page on Forex Peace Army. People have left no comments on how the system works.