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.
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.”
- 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.
- We can purchase, subscribe for signals, or rent it out.
- We have seen these numbers at least a year ago.
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.
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.
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.
It opens orders on six pairs. EURUSD is the most traded pair with 1247 orders.
It traded mostly during the European trading session.
Wednesday with 1370 orders is the most traded day.
It opens orders with medium risks to the balance. There’s a 22.38% chance of losing 10% of the balance.
There were many trades lost last time.
The profitability is unpredictable this year. We can’t rely on the system.
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.
We have only positive testimonials of how the robot works for clients. Of course, they aren’t verified.