Forex Cyborg is an FXPIG recommended forex bot that boasts of a 10-year run. According to the site, the bot is “one of the most innovative multi-currency Forex trading robots on the market”. The robot is more suitable for professional traders and has many features that make it look attractive. Throughout this article, we perform an EA review of the Forex Cyborg by analyzing its features, trading strategies, and user reviews. Is the robot profitable?

What is Forex Cyborg?

Forex Cyborg is a fully automated, expert trader that supports eighteen currency pairs at once. It’s compatible with MT4. The bot allows you to modify the lot size and risks for every trade you participate in so that it can help you achieve the goals you’ve set and work with your budget. Forex cyborg talks of neural network use and deep learning to ensure the traders get high profits. The site is designed to provide long-term profit.

According to Forex Cyborg’s sales page, these are its key features:

Other notable features include:

  • Designed using neural networks
  • Customizable parameters
  • Free set up via Team Viewer
  • The robot uses actual slippage
  • Spread protection
  • 24/7 technical support

The bot includes the trading commissions in the backtests so that they can contribute to backtest accuracy. The information about this bot’s creators and origin is conveniently missing from the site. There are two packages on Cyborg; Gold that costs 499.99, and the premium package goes for € 599.99. The software is easy to install and user-friendly.

With the cheaper gold package, you get unlimited demo licenses and one actual license. You will also get 24/7 support and a lifetime supply of software updates. With the premium package, you still get all the gold package features, with three actual licenses instead of one.

EA Review: Forex Cyborg’s Trading Techniques

Many EA sites offer much wording that goes around what they do, and they seem to skip the trading technique section. This is the same situation with Forex Cyborg’s site. The unique features that constitute its trading mechanisms include an in-built management system that helps you manage your money. The EA has been designed to be accurate when entering and closing trades to ensure each day is profitable to its clients.

You can choose between two options, “normal” and “conservative,” for your money manager. The robot’s developers assure us that the site doesn’t use martingale, hedging, or arbitrage. You won’t have to provide an initial deposit. You have the autonomy to choose how much money to give to the bot to play with.

The bot trades between 1700hrs and 2330hrs GMT, with 15-minute time frames, and this will vary depending on which of the 18 currency pairs you chose. The bot is compatible with any broker and trading account type.  You can use Forex Cyborg with any leverage, with any account size.

EA Review: Forex Cyborg Community Trust

We checked out Cyborg’s website, and it looks futuristic, especially with that bot and the bare colours. It seems that the creators are more focused on helping traders make a profit. The site is user-friendly and seems to maintain the core descriptions of its agenda.

Because the site operates at night, it’s broker-dependent, and this is a dangerous affair. The site provides a myriad of backtests that show a positive historical performance across currency pairs. We will focus on the AUDCAD backtest that works under M15. The test was set on 99.9% modelling quality which enhances the quality of the results.

The test’s initial deposit was $10000, which grew to $13532.95 over a decade. Out of 888 trades, the robot could win 616 short positions, which translates to 76.14% and 658 profit trades, translating to 74.10%. This account’s profit factor stood at 3.42, and its drawdown was 26.49, which is within the normal range. Compared to other robots, this EAs performance, especially in realizing a profit, is relatively low.

As for live trading, we check out one of Forex Cyborg’s real accounts whose leverage is 1:200. Myfxbook certified the robot’s track record and trading privileges. The user deposited €15942.61, which grew a profit of €10468.05 over four years—this translate to a total profit of 294.22%, with the daily gain standing at 0.10%. The drawdown for this account was 29.27%. Out of 2918 trades, the robot won around 70% of the trades. These are stats I could stand for. The trader hasn’t made stable gains this year. The only month that showcased positive returns this year were February and March.

The only user review we got seemed short and lacked information on how the robot works or how this reviewer could achieve profit.

Final Thoughts

Cyborg seems well-designed and planned. The developers of the robot seem experienced at EA creation. The only worrying thing is the lack of contact information. The “don’t call us, we’ll call you” method seems questionable, especially when dealing with money. The only way they’ve provided for clients to reach them is through a message board on the robot’s sales page.

The only plus is that the robot seems to be doing well in the market, although the profit margins are pretty small. The most important thing is that you will get a guaranteed stable profit if the robot’s backtest and live trading results are anything to go by.

There seems to be a lack of transparency on the robot’s working mechanism and its developers. This is quite a violation, especially if you factor in the price of the robot. Spending that much money on thin air is nothing short of craziness.

The robot is lacking what ties a robot’s popularity together, and that’s the user reviews. Remember that this robot has been in the market for a while. Are there no clients that used this robot, and who are willing to vouch for them? If it’s as profitable as they claim, we would expect considerable praise. We recommend that you be cautious when working with such a trading robot.

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