$499 Buy Now
Forex Cyborg is a fully automated Metatrader 4 Forex robot with a lot of portfolio in the marketplace. There’s not a lot of information regarding Forex Cyborg EA but at least the developer has thrown more light on the trading performance of this automated system. Momentarily, they tell us that the Forex Cyborg robot is ”one of the most innovative multi-currency Forex trading robots on the market!” They reassure Forex traders that Forex Cyborg is a professional Forex robot for real professional traders.
At the moment, there’s no information about this developer anywhere on the sales page. They can only be contacted anonymously. We have no idea what their trading background is or the duration of time they’ve been creating Forex robots.
This robot uses a combination of unique features including technical analysis. Based on this, the EA is supposed to determine which direction to open trades in.
Forex Cyborg Review
The Forex Cyborg website design makes it look like an abandoned website as the choice of colors and background makes everything appear dull. The developer appears to be more focused on the product software than marketing. They’ve not copied examples of developers of robots like EA Tech and Alno Trade. They tell us that Forex Cyborg trades 18 currency pairs at once on 15-minute charts. They’ve also provided backtesting results for most of these currency pairs. They feel that they’ve done all the necessary tests on historical quotes and have been encouraged by the results. We’re not very confident about automated trading systems whose vendors use backtesting to sell copies. Unless there’s something else to prove the claims, there’s no need to take the vendor’s word for it. We’ve been burned by such Forex robots before and once beaten, twice shy. Based on backtesting in the MetaTrader 4 strategy tester, the best Forex robots in the market have high win rates on multiple currency pairs across thousands of trades for over 10 years of historical testing.
This robot uses a combination of unique features including technical analysis. Based on this, the EA is supposed to determine which direction to open trades in. They also tell us that the Forex Cyborg robot is configured with in-built money management that you can set according to your needs. There is no martingale, no hedging, and no arbitrage. Furthermore, the developer tells us that the “currency correlation risk-manager” will help you to manage your risk. While there are a number of key features mentioned by this vendor, the developer fails to elaborate more on how these important parameters will interact to mitigate the risk associated with the very dynamic market movement. Currently, there are 2 pricing packages for this Forex robot – Gold (€499) and Premium (€599.99). The only difference between the two is that the Gold package software allows for only one real account use whereas the Premium software package can be shared for 3 real accounts. The number of fx pairs allowed, unlimited demo, lifetime support, and updates remain the same for the two Forex Cyborg packages.
The developer presents sufficient trading samples in their myfxbook.com accounts. There are about 4 myfxbook.com accounts provided by this vendor. 3 out of the 4 accounts are fully updated whereas one of the accounts stopped trading in 2019. At this point in time, I can say that the statistics are quite impressive. This is a fully verified myfxbook.com account using a Forex broker called Darwinex. This account has gained +269.49% so far. The monthly return is small at 3.36% and the drawdown is 29.27%. The problem is that Forex robots are run based on automated mathematical algorithms, not taking into account things like market conditions that vary with political issues, weather, and other factors. The inconsistency of the market is impossible to program into a robot, and therefore the results of Forex robots are inconsistent as well.
Because Forex trading is still relatively unregulated, the number of scams seems to be ever-increasing. One area in which this happens on a regular basis is with automated Forex trading bots. Many of the systems make some pretty unrealistic claims, and promise a successful trading career, even when you’re asleep. They even seem to be able to publish positive results on their sites. However, a word of warning: These amazing results are often the result of back-testing, or based on hypothetical results.