Forex Cyborg Review

Forex Cyborg

Forex Cyborg is said to be one of the most innovative multi-currency Forex robots in the market. There are claims that the EA has a high win rate on multiple currency pairs across thousands of trades for more than a decade of historical testing. Professional traders are told that this is a system for them. We are going to dig into the various features of the robot and analytical data to see if it is lucrative. 

We don’t know who this robot belongs to. Information on the company or the developer team is not disclosed. 

Forex Cyborg at a glance

Price$499.99 or $599.99
Trading platformsMT4
Currency pairsUSDCAD, GBPUSD, GBPCHF, GBPCAD, GBPAUD, EURUSD, EURNZD, EURJPY, EURGBP, AUDCAD, AUDCHF, AUDNZD, AUDUSD, CADCHF, CHFJPY, EURAUD, EURCAD, EURCHF, USDCHF, USDJPY
StrategyTechnical analysis
TimeframeN/A
Recommended depositN/A
Recommended leverageAny
Money management Yes

Forex Cyborg functionality

The additional features of the robot are:

  • It is fully automated, meaning no manual trading is required.
  • The robot comes with an installation guide.
  • Customer support is available.
  • The system allows you to adjust the lot size or risk per trade to an amount that is appropriate for you.
  • There’s no hedging, no martingale and no arbitrage.
  • It offers lifetime updates and a 30-day money-back guarantee

Forex Cyborg trading strategy tests

The team behind this EA doesn’t say much about the trading strategy used. They just state that the system incorporates a complex technical analysis. It would be better if the devs explained the strategy comprehensively for traders to fully understand what it really entails.  

Below we look at the test results for the AUDCAD symbol. 

Backtest results
Backtest results

The test was done from January 2010 to March 2020 on the 15-minute chart. A total of 888 trades were executed using a deposit of $10,000. Ultimately, 658 of the trades were successful, which represented a 74.10% profitability rate. The total net profit was thus $3532.95 and very small given the period of trading.

The drawdown rate, which was1.01%, shows that the trading method wasn’t risky. This was good because it prevented unnecessary losses. There was an average profit trade of $7.59 and an average loss trade of -$6.34. 

What about Forex Cyborg live trading results

Live trading data
Live trading data

This real EUR account has been around for a while as it was opened almost four and a half years ago, July 2, 2017. It was deposited at €15,942.61, and to date, the EA has not managed to recover the investment cost as we only have a profit of €11,395.74. A total of €23,143.99 has been withdrawn. The monthly profit is 2.86%, whereas the drawdown is 29.27%, making the risk reward ratio to be 10:1. 

Performance of trades
Performance of trades

There’s a profit factor of 1.18 from 3148 trades. Obviously, the return on investment is low. The long (67%) and short (70%) have performed poorly. More losses are incurred during trading, as evidenced by an average loss of -12.45 pips, which is considerably higher than the average win of 8.90 pips. 

Risk of ruin
Risk of ruin

The system’s risky activities are about to blow up this account. Another wave of losses will definitely render the account useless. 

Monthly profits
Monthly profits

The monthly growth is not consistent. This uneven distribution of data makes it hard to predict how the system will perform in the coming months.  

User reviews

There’s only one customer feedback for Forex Cyborg on FPA. This trader has given the EA a 5 star citing that it has earned him 250% profits within 3 years of trading. However, he admits that the system has generated some strong drawdowns. Notably, a single review is not adequate to presume that customers are generally satisfied with this product.

Customer feedback
Customer feedback

Forex Cyborg Review Summary

Forex Cyborg
3 5 0 1
The results on Myfxbook prove to us that Forex Cyborg can maintain a trading account for a long time. Even then, the system has lost 5 months this year. For the last 3 months, it has been generating a monthly gain ranging between 1.6-1.9%. This performance has led to an unhealthy risk/reward ratio.
The results on Myfxbook prove to us that Forex Cyborg can maintain a trading account for a long time. Even then, the system has lost 5 months this year. For the last 3 months, it has been generating a monthly gain ranging between 1.6-1.9%. This performance has led to an unhealthy risk/reward ratio.
3/5
Total Score
  • Functionality
    3/5 Neutral
    The system trades only on the MT4 terminal.
  • Trading strategy
    3/5 Neutral
    There’s very little info on the strategy used.
  • Live results
    2/5 Bad
    The trading results show us that the EA hardly generates meaningful profits and engages in risky trading activities.
  • Customer support
    3/5 Neutral
    The vendor offers 24/7 customer support through email.
  • User reviews
    3/5 Neutral
    There’s only one customer feedback for this EA provided.

The Good

  • A 30-day money-back guarantee is offered

The Bad

  • Unhealthy risk/reward ratio
  • Lack of customer reviews
  • Low return rate
  • Zero vendor transparency
Total
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