Forex Robots

iProfit EA Review: A Forex Robot That Should Be Avoided

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iProfit EA

IProfit was designed to help us with getting our profits automatically. It belongs to a quite-known company called Phibase Technologies. The system should work on MT4. The main claim is “The World’s Most Successful Neural Network Strategy.” So, let’s figure out what is true.

IProfit EA strategies and tests

We have some details explained in these six blocks.

IProfit EA features

IProfit EA features

We have grouped all important information in the following list to understand if a robot is a viable option to work with.

  • We can expect a stable automatic performance of the system on our terminal.
  • “It dynamically adapts  to the most recent price action, and updates predicted high and low levels every hour.”
IProfit EA strategy explanations

IProfit EA strategy explanations

  • We have a Neural Network based strategy. It sounds like a scam. Strategies have names.
  • The advisor works with six currency pairs on the market.
  • The real account was created eight years ago in 2013.
  • The system was backtested on the 12 years data.
  • The modeling quality was 99.99%.
  • As a result, it has gained 8000 pips.
  • An average monthly gain was 170 pips.
  • The system places SL and TP levels to protect our orders.
  • It doesn’t run risky strategies.
  • The following pairs are allowed to trade EUR/USD, EUR/JPY, XAU/USD, GBP/USD, and AUD/USD.
IProfit EA types of being a customer

IProfit EA types of being a customer

  • We can purchase, subscribe for signals, or rent it out.
IProfit EA statistics

IProfit EA statistics

  • We have seen these numbers at least a year ago.
IProfit EA backtest report

IProfit EA backtest report

We have a test of EURUSD. We have no intel about time frame and data range. The modeling quality was 99.90% with 10-pip spreads. An initial deposit was $10,000 that has become $6,825. The profit factor was 1.26. It has executed 1814 orders. The maximum drawdown was 5.49%. The win rate was 58% for shorts and 59% for longs. These numbers were too low.

iProfit EA live trading account review

There is an account with low transparency. We don’t know its size and other financial parameters, only a percentage is available.

IProfit EA real account trading results

IProfit EA real account trading results

The advisor has been running orders on a real account on IC Markets. The leverage is common 1:500. It works on the MT4 platform. The account has a verified track record. It was created on August 26, 2013. Since then, the absolute gain has become 181.35%. An average monthly gain was 1.03%. The maximum drawdown is 25.47%. Fifty-five traders track trading results.

IProfit EA detailed statistics

IProfit EA detailed statistics

The system executed 5425 deals with 41,395 pips. An average win is 67.35 pips when an average loss is almost equal -74.66 pips. The win rate is 56% for longs and 59% for shorts. It’s an unprofessional level. An average trade length was 3 hours 37 minutes. The profit factor was 1.11.

IProfit EA currency pairs trading details

IProfit EA currency pairs trading details

It opens orders on six pairs. EURUSD is the most traded pair with 1247 orders.

IProfit EA hourly trading hours

IProfit EA hourly trading hours

It traded mostly during the European trading session.

IProfit EA daily trading activities

IProfit EA daily trading activities

Wednesday with 1370 orders is the most traded day.

IProfit EA risks

IProfit EA risks

It opens orders with medium risks to the balance. There’s a 22.38% chance of losing 10% of the balance.

IProfit EA closed orders

IProfit EA closed orders

There were many trades lost last time.

IProfit EA monthly profits

IProfit EA monthly profits

The profitability is unpredictable this year. We can’t rely on the system.

Pricing

Pricing details

Pricing details

IProfit EA pricing

IProfit EA pricing

We have an annual subscription for $470. We can copy-trade signals for $299 annually. The lifetime license costs $1099. The lifetime copy-trading service is available for $849. We can use two licenses if we purchase a copy of a product. There’s a single license for a subscription. The developers decided not to support an offer with refunds. It’s a huge con.

Is iProfit EA a scam?

Yes. The system hasn’t shown real trading results that could be treated as a viable proof that the system works stable. The advisor has lost many months this year.

People feedback

Fake customer feedback

Fake customer feedback

Fake feedback

Fake feedback

We have only positive testimonials of how the robot works for clients. Of course, they aren’t verified.

iProfit EA

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IProfit EA is a robot that is slowly but surely wasting a real account. The devs do nothing to solve this issue, keeping selling it for an insanely high price. Now, it’s clear that the system has to be avoided.

  • Backtest reports provided
  • Trading results shown
  • No team revealed
  • No risk advice given
  • No money-management advice provided
  • Trading results are horrible
  • High pricing and no refunds
  • No people testimonials written

US Consumer Sentiment Fell in November

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