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    Home » iProfit EA Review: Is It a Good Robot to Buy In 2022?
    Automated Trading Forex Robots Updated:December 8, 2021

    iProfit EA Review: Is It a Good Robot to Buy In 2022?

    December 7, 20214 Mins Read
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    iProfit EA
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    iProfit is a completely automatic trading system without significant reputation among clients. The developer is Phibase Technologies. They have below average reputation. They claim that their robot has the world’s most successful neural network strategy. We are here to find out if it is true. 

    Key features

    • We can work with EUR/USD, EUR/JPY, XAU/USD, GBP/USD, and AUD/USD.
    • It comes with a money-management feature.
    • The robot trades on the H1 timeframe.
    • It is compatible with any brokerage.
    • The system can only work on the Metatrader 4 platform.
    • There is no informationion on the minimal or recommended deposit.

    iProfit EA trading approach

    The developers provide us with the scheme of the most important features.

    Markets are invaded by algorithms
    Secure your passive income with algo-based trading systems
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    iProfit EA features
    iProfit EA features

    The presentation doesn’t include plenty of information about how the system works and what we have to expect from it. Much we had to guess on our own. 

    • The system was designed to help its owner with executing orders automatically. 
    • “It dynamically adapts  to the most recent price action, and updates predicted high and low levels every hour.”
    iProfit EA strategy explanations
    iProfit EA strategy explanations
    • The devs claimed that there’s a Neural Network based strategy. It’s manipulation. 
    • The system was set to trade in 2013. 
    • It was tested on 12-year of tick data received from a broker.
    • It tested on the tick data of 99.99% quality. 
    • The system obtained 8000 pips.
    • We may expect that the system repeats obtaining 170 pips monthly. 
    • It places SL and TP for every order it places on the market. 
    iProfit EA types of being a customer
    iProfit EA types of being a customer
    • The system is available in three different packs. 
    iProfit EA statistics
    iProfit EA statistics
    • The devs haven’t changed this intel for a while. 
    Pricing details
    Pricing details
    iProfit EA pricing
    iProfit EA pricing

    The pricing looks complicated and boring. We can subscribe for it for $470 annually. The signals for copying are available for $299 annually. The lifelong license can be bought for $1099. The lifetime copy-trading service is available for $849. The pack with a product copy includes two licenses. There’s a single license for a subscription. We can’t rely on a money-back guarantee if something goes wrong. 

    Backtesting results

    iProfit EA backtest report
    iProfit EA backtest report

    This report with a horrible chart was a test of EURUSD. Its modeling quality was 99.90% with 10-pip spreads. An initial deposit was set at $10,000 that has turned into $6,825 by the system. The profit factor was 1.26. It has executed 1814 orders. The maximum drawdown was 5.49%. It’s a pretty acceptable number. The accuracy was 58% for shorts and 59% for longs. It’s not so much for a professional advisor. 

    iProfit EA live trading results

    iProfit EA real account trading results
    iProfit EA real account trading results

    The system works on its own real AUD  account on IC Markets with 1:500 leverage on MT4. The devs decided not to provide us with details about funds. The account has a verified track record. It was created on August 26, 2013. Since then, the absolute gain has become 181.35%. An average monthly gain is 1.03%. The maximum drawdown is 25.47%. It’s a huge drawdown as for the low profits.

    iProfit EA detailed statistics
    iProfit EA detailed statistics

    We have 5435 orders with 41,395.2 pips traded. An average win is 67.35 pips when an average loss is almost equal -74.66 pips. The accuracy is 56% for longs and 59% for shorts. It’s too low for an advisor. An average trade length was 3 hours 37 minutes. The profit factor was 1.11. 

    iProfit EA currency pairs trading details
    iProfit EA currency pairs trading details

    There are six pairs traded. It focuses on several ones where EURUSD is the most traded one with 1247 orders and 1968.4 pips. 

    iProfit EA risks
    iProfit EA risks

    The risks for losing 10% of the account are high. It’s a warning. 

    iProfit EA closed orders
    iProfit EA closed orders

    We may note that the real win rate is even lower. 

    iProfit EA monthly profits
    iProfit EA monthly profits

    This year the trading results of the system look bad. 

    What are the risks with iProfit EA?

    The system isn’t stable and can’t be treated as a processional advisor. Developers must invest time in updating it ASAP. 

    Worth noting!

    Fake customer feedback
    Fake customer feedback
    Fake user feedback
    Fake user feedback

    There are some positive testimonials written from faceless people. We can’t be even sure that they are real. 

    What are the pros & cons of investing in iProfit EA?

    ProsCons
    Backtest reports providedNo team revealed 
    Trading results shownNo settings explanations provided 
    No strategy details explained 
    A complicated and overpriced offer
    Horrible trading results 
    No refund policy provided 
    Markets are invaded by algorithms
    Secure your passive income with algo-based trading systems
    Learn more

    iProfit EA Conclusion

    30% Summary

    iProfit EA is a scam advisor that closed many months with losses this year. The presentation doesn’t look trustworthy. The system is delivered without refunds and subscription options are only annual. Long story short, it's not a good choice for traders.

    • Features 3
    • Pricing 3
    • Strategy 4
    • Performance 2
    • Reliability 3
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