Neural BOT is a fully automated trading system launched on 26 March 2021. It deals in the EUR/USD pair and is capable of running independently on the MT5 trading terminal. The true profitability of the system can be determined after performing a thorough analysis of its various performance aspects.
How Neural Bot EA Works
On the MQL5 page of Neural BOT, the vendor has provided us with a short introduction, describing how the robot functions. Live trading results have been shared, and the operation principle has been explained in detail. We also have the vendor recommendations and some screenshots showing the backtesting results.
Neural BOT has been developed by Piotr Stepien, a developer based in Poland. We don’t know anything about this person’s background or what kind of trading experience they have. However, we can see that they have developed several other EAs like MACD EA Bot, Close Profit Loss, and RoBot RSI. Also, there are some Forex trading indicators built by this developer, including Automatic Supply Demand Zone, Market Profile PRO, Volume Profile Range, Volume Zone Range, High Volume Zone, and others.
This robot can be run on a VPS or a computer, but the latter must be turned on at all times. Neural BOT scans the market 24 hours a day at a much faster pace compared to a manual trader, according to the vendor. Periodic updates are made for this robot and the buyer can access them for free.
This EA operates based on two principles, namely Machine Learning and Neural Networks. It has a low frequency of placing trades and you can run it on any timeframe of your choice. The vendor recommends making an initial deposit of $300 and trading with leverage of 1:500. If you wish to alter the leverage, you can do so by changing the money management settings.
Although the robot is optimized for the EUR/USD pair, you can program it to trade in other pairs as well. However, this requires some technical expertise. The vendor has provided us with a guide that explains the entire process.
Applied Strategies
While the seller has mentioned that the EA does not use risky strategies, they have provided no explanation for the actual strategy used by Neural BOT. Most Forex traders look for some kind of strategy insight before purchasing a system. This allows them to determine the profit-making capability of the EA, to a certain extent. Therefore, the lack of strategy insight can be considered a red flag.
This backtest was conducted with 100% real tick data from 2018 to 2021. A small initial deposit of $300 was made for this test, from which a total profit of $2215481.33 was generated. There were 1836 trades placed during this backtest, out of which 1832 were won by the robot. This represents profitability of 99.78%. The relative equity drawdown was a bit high at 47.37%.
Neural BOT Trading Results
There is no verified trading account on Myfxbook showing the live performance of this Forex EA. On the MQL5 website, we have the live results based on 23 days, which means the EA has an extremely short trading history. During these 23 days, 80 trades have been placed through this account, out of which the robot has won 79.
To date, the total profit generated through this account is $363.25. The equity drawdown is 23.49%, which is marginally high. Since the robot does not have a long track record, we cannot form a clear verdict about the system’s profitability by analyzing these results.
Pricing and Refund
Neural BOT is sold at the price of $500. A free demo version of the software is available for download, but there is no refund policy. We think this system is overpriced since there are more trustworthy and reliable robots being sold on the market at cheaper rates.
Customer Reviews
There are several customer reviews for Neural BOT on the MQL5 website, and they all seem to be positive. However, since these are not posted on a reputable third-party website, we cannot consider them authentic. The vendor could easily have manufactured these reviews.
