Having visited the main page of the IProfit robot we’ve found a lot of pictures that have been introduced like real trading results. All of them are unclickable.
The robot is “powered by a self-contained, self-learning Neural Network (NN) algorithm.” The robot follows the high-frequency trading algorithm, running on a smaller time frame. iProfit adapts HFT strategy to deliver a practical and profitable system for retail trading accounts running on MT4s. As the devs said, the algorithm behind the system is perfectly well to trade any currency pair.
- The system predicts the price range of the next H1 bar based on its input of OHLC prices of the past 52 hours.
- The NN model adapts its algorithm until the success rate of the prediction of the past few H1 bars is greater than 70%.
- High/Low prediction is only made available when there is a high probability of success.
- The system trades pairs that have low/medium/negative correlation to ensure a large number of trading opportunities.
- Investors can expect to gain about 170 pips/month.
- The EA requires ECN/STP brokers with good trade execution, low spreads, and minimal slippage.
- Recommended brokers are IC Markets, Pepperstone, AXI trader.
- The devs recommend professional accounts type with low spreads + commissions.
- Standard/high spread, no commission accounts are not recommended.
The robot has got a 3.1 version of itself.
The new one has got some features:
- Higher win-rate. The EA starts trades only when prediction success is higher than 75%.
- Lower max drawdown. The max dd went low from 1100 pips to 800 pips.
- 75% monthly win-rate. The previous one has been 65%.
How IProfit EA Works?
The robot’s NN model does not contain hard set rules, indicators or formulas. The EA attempts to trade the normal price movements seen within an H1 bar – The NN model only predicts the upper/lower price for the next H1 bar(s). The algorithm behind can predict with 70% success.
A trading style of the EA:
- H1 time frame (every tick).
- Average gain size: 25 pips and average loss size is 27 pips.
- Trade trigger will only happen if the price touches/crosses the entry/exit price.
- We have to expect about 100 trades in a day.
- Non “grid/martingale” system.
- From 3% to 5% of the monthly gain should be expected with medium risk trading.
- List of currency pairs to work with EUR/USD, EUR/JPY, XAU/USD, GBP/USD, AUD/USD.
Trading strategy backtests
It’s kinda strange because we’re offered by 75% win-rate just several seconds ago. The max DD, we’re offered for, should be about 800, but not 1000 pips.
Please, take a look at the win-rate. It should be over 75, as told, not 56-61%. The profit factor was 1.29 and that is a very low level.
The next one has got a lower than even in the previous one win-rate (55-56%).
IProfit EA trading results
The devs said this is a one-year-old picture is how the robot trades on the real account. Of course, it’s a lie.
The “high risk 5%” and “low risk 2.5%” buttons don’t work. The table provides us with the fake results of the “real account” performance. Even fake data has been stopped updating after June 2019. Dudes, today is almost the end of March 2020. If the robot runs live where is the intel?
Pricing & Refund
The robot has got two packages. The “annual” one costs $375/year. It includes one real and one demo account, free updates, and a 30-day money-back guarantee. For $780 we’ll receive a lifetime license.
So, how good is IProfit EA?
- Strategy well-explained
- Patch note provided
- Pictures or trading results and backtests provided
- Settings explained
- Demo account provided
- Free updates
- 30-day money-back guarantee
- No real backtests
- No 3rd part verified trading results
- Extremely low win-rate (55-56%)
- A lot of lies during the presentation
- Low “profit factor”
- High max drawdown according to backtests
- Devs know expected monthly profitability only for medium risks
- Trading “results” spreadsheet has been stopped updating July 2019
- High-risk trading results weren’t provided
- High price
- No people feedback