Today’s review is dedicated to a newly launched FX market robot – Hot Profit Robot. The main motto on the dev’s website is ‘Hot Profit Robot – A Forex Expert Advisor where your profits success starts’. They claim their robot was purposely designed to help home traders and those people who ‘want to earn extra money and make their fortune with successful trading’. The vendor says that because this EA comes with outstanding performance, verified trading results, high profitability, and continuous support which makes the product it is the best and the most ‘trusted Forex robot’ available in the market today. In this Hot Profit Robot review, we will check out the veracity of vendor claims and whether or not this EA is a viable trading product or a get-rich-quick scheme.
It is unknown who is behind this service. There is no information about the team or the location of the offices for this product. Due to this lack of details, we are unable to research any of their trade analysts, making it difficult to know if they have ample experience in the FX market. Lack of this information is not a good sign for the developer, as it doesn’t increase confidence in their product.
According to WHOIS research, we can see that their service is located in California, USA. So, we may only guess that they are located in that region as well.
To get in touch with the support we have to fill out their line contact form.
Interested in the EA traders can buy the robot on the official website of the developer. There are 3 packages offered and each of them is a subscription-based one.
So, there are Mini, Smooth and Aggressive packages offered. The Mini package costs €17/month and comes with 1 trading account and configuration support. The Smooth pack comes for €64/month and includes 1 trading account and monthly support. The last one, the Aggressive package is sold for €99/month and features 2 trading accounts and monthly support. The robot runs are designed to trade on the MT 4 platform only. A money-back guarantee is not provided.
The developer who is a no-name person to us claims that heir EA may benefit us for the following reasons:
- This is a fully automated EA that is designed to work on the MT4 terminal
- They promise us that we will immediately gain the benefit of the expert advisor profits and growth
- The vendor claims that the robot provides accurate trade execution and exit process
- Traders can receive alerts on mobile by setting up push notifications and Alerts in EA and MetaTrader settings
- Traders are provided with constant ‘hand on hand’ support
- It comes with easy step by step guidance on how the robot works and how to install set it up
- The system features a risk management system that calculates lots based on settings that are set up
- Lot size can also be fixed or based on growing account balance
Out from the trading results, we can see that the robot supports AUDCAD, AUDCHF, AUDNZD, AUDUSD, CADCHF, EURAUD, EURCAD, EURCHF, EURGBP, EURUSD, GBPAUD, GBPUSD, NZDCHF, NZDUSD, USDCAD, and USDCHF currency pairs. There is no information about the recommended deposit, leverage, or the timeframe the EA trades provided.
Hot Profit Robot Trading Approach
According to the vendor, the EA applies 3 trading strategies: Range Trap, Momentum Rider, and Trend Capture. The first one focuses on SnR and unique candle patterns to trade bounces from the top and bottom. The momentum approach follows news events or political events to determine the strength of price movement and benefit from it. Trend Capture uses fundamental and technical analysis to determine the strong long-term trends of different FX currencies.
Although the dev claims that their EA has successful backtesting results based on 10 years of trading activity data, he fails to provide any proof to back up his words. It looks odd and does not increase trust in the developer.
Hot Profit Robot Live Trading Results
His trading account the dev shares on his website was launched on myfxbook on June 08, 2021. This is a Real (USD) account running under FBS brokerage. It trades with 1:500 leverage on the MT 4 terminal. From a deposit of $5, 045 the EA could generate $5036,14 of profit with an average daily and monthly gains of 2, 42%, and 99, 82%. The peak drawdown was insanely high – 88, 32%. That day was a significant equity jump:
The average win rate of this expert advisor is 74%. The average loss is higher than the average win: -23.67 pips/-$106.77 and 15.11 pips/$70.16 respectively. The profit factor is 1, 84.
The most profitable currency pair is NZDUSD ($747.21, 13 deals). The most frequently traded pair is GBPUSD – 38 trades.
It trades with moderate risks to the account balance:
It uses Grid plus Scalping approaches in trading:
The robot does not trade with fixed Lot size and can increase it from 0, 30 to 1, 23. It’s a dangerous trading approach as in case of loss a trader can lose a lot of money.
What Are The Risks With Hot Profit Robot?
Based on the live trading results and the intel provided on the Hot Profit Root website we can point out the next trading risks accessed with this expert advisor:
- It trades with insanely high drawdowns
- It uses a combo of 3 dangerous trading approaches: Grid, Scalping, and Martingale
- The vendor failed to provide backtesting results which make it impossible to analyze the past performance o this EA and compare it with live trading results
- Money-back guarantee is not provided. It means that the vendor is not confident in the product he offers to the public
There is a Hot Profit Robot page on the FPA website. However, there is no customer review written there.
What are the Pros & Cons of Investing in Hot Profit Robot?
|Live trading results||Lots of useful information about the product is misses|
|No backtesting report provided|
|Grid, Martingale, and Scalping approached on the board|
|No vendor transparency|
|Extremely high subscription-based plans|
|No money-back-guarantee provided|
|No customer reviews|
As you can see, the system has much more cons than pros, which means it is not a good choice for its price.
Hot Profit Robot Conclusion
Wrapping our review up, we do not recommend this expert advisor. It’s a total scam that should be avoided.