The vendor claims that Hot Profit Robot has been created with full market proficiency to assist traders who desire to get additional money from Forex trading. Therefore, subscribing to this EA allows the trader to start making profits immediately. It supposedly conducts accurate trades. This is made possible by its ability to assess the Forex markets all day and night while identifying the best entry opportunities that will generate profits for the user. The bot also manages risk for the trader. It does this by computing Take Profit and Stop Loss prices and calculating lots based on default settings.
How Hot Profit Robot Works
Hot Profit Robot’s presentation is relatively brief. The vendor highlights the EA’s live performance test, how it will benefit the trader, the trading strategies applied, subscription plans, Contact Us form, and a disclaimer.
Vendor transparency is absent. We could not find any background information of developers behind this EA. They have decided to operate in secrecy and hence cannot be trusted.
Hot Profit Robot executes trades automatically. When a trader subscribes to the plan of their choice, they will receive a detailed User Documentation. This manual describes how the EA will work and how to install it. The features of the robot are listed below:
- The expert advisor is a fully automated trading tool
- Trades on AUDCAD, EURAUD, GBPUSD, USDCAD, CADCHF, EURCAD, NZDUSD, and GBPAUD currency pairs
- Works on the MT4 platform only
- Offers continuous customer support
Hot Profit uses 3 distinct trading strategies. The range trap approach uses the SnR and unique candle pattern to trade. It thus sells at the top of a price channel and buys at the bottom of the channel. The trend capture tactic involves leveraging strong long-term trends. The robot particularly analyzes the Forex market to identify such trends and follows them.
The momentum rider strategy seeks to take advantage of strong price movements in the market brought about by news or political events. The EA is able to generate profits by entering and exiting the market early based on these events.
The developers have not provided backtest results for the EA. This is ironic since in their official website, they have stated that they want to be totally open with their traders. The lack of this crucial data makes it difficult to gauge the performance of the robot in the long-run. Consequently, we can hardly determine its profitability rate. Therefore, we do not have confidence in this EA.
Hot Profit Robot Trading Results
The account has been in operation for a month and has managed to increase a deposit of $5,045 to $8,427.82. It has made a profit of $3,382.82 which represents a growth of 67.05%. The daily profit is 1.73% whereas the monthly profit is 64.85%. The drawdown that equals 82.32% is massive. This makes the account susceptible to huge losses. No withdrawals have been made yet.
The system has executed 238 trades. Out of these, it has achieved win-rates of 73% and 68% for longs and shorts in that order. The profit factor is 1.41. This means that a trader cannot get considerable returns on investment. The pips are 773.3. The average win which is 15.07 pips is significantly lower than the average loss which is -25.12 pips. Therefore, the risk of the account losing money is heightened. Lots made are 113.72 and they are quite high. This further highlights EA’s high-risk approach.
The EA’s risk of ruin is high. This is because it trades with high risks to the balance. It has a 32.35% chance of losing 10% of the account. Furthermore, if it loses 5 trade deals in a row, it will lose 10% of the account balance.
The gains are very small. The account made a series of losses.
Pricing and Refund
Hot Profit Robot has three main subscription plans: mini (€17/weekly), smooth (€64/monthly) and aggressive (€99/monthly). The aggressive pack features 2 trading accounts while the other two plans integrate 1 trading account each. The vendor does not mention any refund policy. Therefore, we conclude that a money-back guarantee is not provided. The pricing is also expensive. The bot is hence not worth this money. There are other cheaper options in the market.
User testimonials for this EA are absent. We visited various websites like Trustpilot, Forex Peace Army and even myfxbook, but could not find any reviews. Subsequently, we were unable to determine if the EA really meets the needs of users.