Forex Cyborg claims to be the most advanced FX trading tool. It is a multi-currency trading tool that has total automation ideal for professional traders. The vendor claims that it has a high winning rate tested on multiple currency pairs over 10 years of backtesting. You can use the default settings for multiple pairs and adjust the risk or lot size according to your deposit.
Forex Cyborg trading strategy
According to the vendor info, this FX robot uses a blend of special features like technical analysis to ensure a high success rate and it can also adapt to the market conditions dynamically. While the vendor mentions that this ATS does not use the Martingale, hedging, or arbitrage methods, there is no mention of the approach used for this EA. The lack of info raises suspicion on the reliability of this ATS.
Forex Cyborg backtesting report
Many backtests are present of varying risk levels. Here is one of the reports showing the testing done on the AUDCAD pair from 2010 to 2020.
For an initial deposit of 10,000, the EA had generated a net profit of 3532.95 for a total of 888 trades. A maximum drawdown of 1.01% was present. The profitability was 74.10% and the profit factor was 3.42. From the results, we can see that the drawdown is low indicating the risk is not high. But the profits are very low considering the long duration of the test and the high win rate claim of the vendor.
Forex Cyborg live results
A real EUR account verified by the myfxbook site using the leverage of 1:200 on the MT4 platform is shown here.
From the above stats, we can see the EA has generated a total profit of 363.3% and an absolute profit of 71.69%. The big difference between the two values looks suspicious. A daily and monthly profit of 0.09% and 2.86% are present for the account. The drawdown value is 29.27%. For the account that started trading in July 2017, a total of 3186 trades have been completed with a profitability of 69% and a profit factor of 1.18. From the trading history, we can see varying lot sizes ranging from 0.19 to 0.34 are used. The high drawdown and big lot sizes denote a risky approach that can endanger your capital.
Some features of Forex Cyborg
The significant features that the vendor highlights for this FX EA are:
- A fully automated system that does not need manual trading
- Compatible with the MT4 platform and works with all MT4 brokers
- Customer support that works 24/7 is present
- A normal risk and conservative money management modes are present
- The FX robot trades from 17:00 to 23:30 GMT based on the currency pair you choose
- There is no specific recommendation for the account size and leverage
- The FX EA works on 18 currency pairs
|Average monthly gain||2.86%|
|Price||€499.99 – €599.99|
|Currency pairs||18 currency pairs|
Main things to consider if you invest with Forex Cyborg
If you are interested in this FX robot, here are some factors that you should consider:
Verified trading results
The vendor provides verified real trading results that show a decent performance. The backtesting reports also reveal decent growth. However, the drawdown is high revealing the risky strategy used. You stand to lose your capital with such a high drawdown.
Lack of vendor transparency
There is no info on the developer or the team behind this FX robot. We could not find company details like the founding year, developer team info, phone number, location address, etc. The lack of vendor transparency raises suspicion on the reliability of the product.
A gold package costing €499.99, and a premium package costing€599.99 are present. The features included in the packages are an unlimited number of demo accounts, lifetime support, and lifetime software updates. For the Gold package, you get 1 real license and 3 licenses for the premium package. A 30-day money-back guarantee is present.
We found one review for this FX robot on the FPA site. As per the feedback, the EA brought decent profits but had strong drawdowns.