Forex Robots

Neural Bot Review: An Overpriced and Ineffective EA

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Neural BOT

Neural BOT is an FX robot that uses machine learning and neural networks for its operation. The automated trading software is optimized to work on the MT5 platform. It analyses the market more effectively than manual analytic methods. The updates and tweaks done to the system consistently have enabled better trading efficiency as per the developer.

Piotr Stepien is the developer of this FX robot. He is from Poland and has three years of experience in the field. Piotr has created 50 products and 2 signals besides creating 93 demo versions. Some of his other products include Volume Profile Range, BTC Trend MA, and more.

Neural BOT strategies and tests

As per the developer info, this FX EA does not use risky approaches like Martingale or Grid. The system uses real TP and SL features only. Even if there is a loss of internet connectivity or power disruption, the orders you have placed will be protected with stop loss settings.

The developer mentions that the frequency of trades is very few but the FX robot can work optimally on any timeframe. A minimum deposit of $300 and the leverage of 1:500 are the recommendations of the developer. The developer also suggests using the IC Markets broker with a raw spread account for better results.

Backtesting results are present on the MQL5 site. Here is a screenshot of one of the results.

Backtesting result of Neural BOT EA

Backtesting result of Neural BOT EA

From the above result, we can see the history quality is 100%. The trading started in 2018 shows a total net profit of 2215481.33 for an initial deposit of $300. The profit factor value is 31.64 and the maximum drawdown is 0.41%. Of the total trades of 1836, 99.785 profitability is seen. While the profit and drawdown look good, it is not possible to predict a similar result in future performance as the backtesting is based on historical data.

Neural BOT demo trading account review

We could not find a real live trading account of this FX EA on reputed sites like Myfxbook, FXBlue, FXStat, etc. A live demo account is present for this ATS on the MQL5 site. Here is a screenshot of the account stats:

Demo account results showing growth chart and trading statistics

Demo account results showing growth chart and trading statistics

From the above screenshot, we can see the account has suffered a loss of 10%. For an initial deposit of $1007.82, a loss of $98.32 is recorded. Although the account was created on April 14, 2021, the total number of trading days is 29. It trades 7 trades per week. The drawdown of 41.2% is present for the account with a profitability of 95.7%.

From the trading stats, we can see that the approach used is not effective and the performance of the system is poor. Compared with the backtesting results the difference in the profit and drawdown values show that this is not a reliable FX robot.

Pricing

Pricing packages of Neural BOT

Pricing packages of Neural BOT

To use this FX Robot, you need to pay $700. A rental option is present which will cost you $500 for the annual rental. The developer offers a free demo version. There are no other details provided on the features included in the package. No money-back guarantee is present, which makes us suspect the product is not reliable. Furthermore, compared to the price of prevailing FX robots, the price of this ATS is very expensive. We do not find the price is worth it.

Is Neural BOT robot a scam?

From our evaluation of the features, claims, performance, price, and other aspects, we find that FX EA is a scam. While the developer claims the EA does not use dangerous strategies, the results of trading show loss and high drawdown which indicate a risky approach. Furthermore, the product is overpriced. Compared to the price of competitor products, the amount is too high and not worth it.

We found 18 reviews for this MT5 tool on the MQL5 site. Here are a few of the user reviews:

Trader’ review who experienced the high 35% DD in equity

Trader’ review who experienced the high 35% DD in equity

User’s review who got a DD of 29%

User’s review who got a DD of 29%

From the above reviews, we can see that the EA reached a high drawdown of 35% for one user and 29% for another with low returns. Furthermore, the frequency of trades is very low which is a concern shared by many of the reviewers. All these issues indicate the approach is not effective.

Neural Bot

5

Neural BOT is an FX EA that claims to provide big returns with minimal losses. But our analysis of the EA, its features, performance, and other characteristics reveal that it is a scam EA. The results of the backtesting and the demo account results reveal poor performance and ineffective strategy. Furthermore, the expensive price and lack of a refund offer make the system an unreliable one. The negative user reviews further confirm our suspicions that this is not a trustworthy EA.

  • Fully automated trading
  • Can work on any timeframe
  • The strategy is not disclosed
  • Poor performance in the demo account trading
  • Expensive price
  • No money-back guarantee provided

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