Forex Robots

Bober Lannister Review: A User-Friendly Expert Advisor

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Bober Lannister

Bober Lannister is an MT5 compatible FX robot with full automation features. It executes one trade at a time. The FX EA is a cross-platform software that does not use dangerous methods like Martingale. Arnold Bobrinskii is the developer of this expert advisor. He has more than 8 years of experience in developing FX trading tools. He has created 4 products and 3 signals. He is based in Russia and can be contacted via a couple of Telegram channel links he has provided on the MQL5 site. You can also use the messaging option on the site to contact the author. His other products include Bober Crypto and MT5 Bober.

Bober Lannister strategies and tests

As per the developer, this FX EA does not use risky strategies. Instead, it uses a lot size that is according to the risk settings for the next order irrespective of the results of the previous one. Further, it uses virtual TP and SL for its orders. Real ticks data is used to optimize the live settings.

The important features of this MT5 tool that make it competitive as per the developer are:

  • It works on multiple currency pairs but the developer recommends using EURCHF, EURNZD, EURAUD, CHFJPY, and EURNZD pairs.
  • The system is not broker-sensitive but the author recommends one with a lower spread and commission.
  • Leverage starting from 1:30 is recommended.
  • A minimum of $100 is required for using the FX EA.
  • The software is designed with user-friendly settings.
  • You can overcome high broker commission.
  • You can make use of the free live sets.
  • Settings include Portfolio, GBPUSD beast, and custom setup modes.
  • For currency pairs other than the recommended ones, the custom setting is ideal to use.
Backtesting result of Bober Lannister on the MQL5 site

Backtesting result of Bober Lannister on the MQL5 site

A backtesting result is present on the MQL5 site. The report is shown above. From the stats, we can see a total net profit of 1,916,908 was generated for an initial deposit of 10,000. A total of 4953 trades were completed with a profitability of 65.29% and a profit factor of 1.58. A drawdown of 22.23% was present. From the results, we can see the drawdown is low and profit is high indicating good performance and low risk.

Bober Lannister live trading account review

A live signal is present for the FX EA on the MQL5 site. Here is a screenshot of the results:

Backtesting result of Bober Lannister on the MQL5 site

Backtesting result of Bober Lannister on the MQL5 site

From the above stats, we can see the account that started with a deposit of $100 in January 2022 has a loss of 12.27%. A maximum drawdown of 33.8% is present and the profitability is 62.4%. A total of 960 trades have been executed with a profit factor of 0.96. From the results, it is clear that the approach is risky and the negative growth shows poor performance. Comparing the real trading stats with the backtest, we find performance in real trading is not as high as seen in the backtest.

Pricing

You can buy this FX EA for $499. A free demo account is present. The developer does not provide further info on the features available with the package. No money-back-guarantee is present, which makes us suspect the reliability of the product. When compared to the prevailing price of similar FX EAs in the market, we find the pricing is expensive.

Is Bober Lannister a good system to rely on?

From our evaluation of the FX EA, here are the main influencing factors we identified:

  • Real trading results show high drawdown and loss indicating a high-risk approach and poor performance.
  • The strategy explanation is vague.
  • Pricing is expensive when compared to the market average.
  • No money-back-guarantee is present.

We could not find user reviews for this FX EA on reputed sites like Forexpeacearmy, Trustpilot, etc. A few user testimonials are present on the MQL5 site. However, since the site promotes the product, there is a high chance of the feedback being manipulated.

Customer support

For support, the developer offers links to his Telegram group. You can also contact him through the message board on the MQL5 site.

Bober Lannister

4

Bober Lannister assures a low-risk approach claiming to not use risky methods like Martingale. However, the real trading stats reveal a risky strategy and poor performance. Although the EA has backtesting results and real trading stats, the high drawdown and loss percentage are drawbacks to consider. Further, we find the pricing is expensive and the lack of a refund also makes us suspicious of the reliability.

  • A completely automated software
  • User-friendly settings
  • Losses in the real trading results
  • Expensive pricing
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