iProfitEA.Com Review: iProfit claims to be an expert advisor (EA) that is controlled by a self-contained, self-learning Neural Network (NN) Algorithm. In other words, it is said to be a robot. The aim of this EA is not to outsmart the market. Rather, to generate small gains while keeping losses small. This is saying that it is not adventurous as to promise wild profit margins.
It is a product of Phibase Technologies, that are known for their many works on forex robots. An internet search of both the parent company and iProfit EA does not turn up any address. However, the robot is said to have been trading since 2013 and provides “6 Years Live Track”. Some features of iProfit EA listed on the page are;
Trading Logic- a dynamic neural network system that can adapt to recent price action
Risk: Reward- a win rate of 60% with gains average of 25 pips and loss average of 27 pips
Trade Pairs- EURUSD, EURJPY, XAUUSD, GBPUSD, and AUDUSD.
Gain Potential- average gains of 170 pips per month
Account Safety- Geometric trade position sizing to ensure funds are safe.
How iProfit EA Works
The iProfit EA uses a HFT trading system. This system is said to make profit from most market conditions and is well used by expert traders. The system strategy involves making trading decision based on prior data. it is mentioned that the NN Algorithm of iProfit “does not contain hard set rules, indicators and formulas”.
It rather attempts to trade the normal price movements seen within H1 bar. The prediction of upper/lower price for the next H1 bar is based on a “recursive self-learning algorithm”. From input of OHLC prices of 52 hours ago. This iProfit EA algo is said to have a predictive accuracy of over 70%.
Although the trading style seems a bit complicated, the transparency of the vendor is appreciated. For interested clients, 2 packages are up for grabs. The packages offer 2 licenses usable on real and demo accounts. One comes at a cost of $375 per year and the other is a one-time payment of $780. Each package comes with a 30-day money back guarantee.
There are no customer reviews available. This is troubling because iProfit EA seems to hold much promise. Also, to claim to have been trading since 2013 and have no negative or positive review is unsettling.
Investigation showed that iProfit EA has an account on Myfxbook since 2013. Showing that the robot has a win of 58% out of a possible 4000 trades. However, it has been found that the vendor had an account on FPA which showed a contrasting loss of 30%. The account has been stopped by this time.
iProfit EA Support
A 24×7 support system is made available but the responses may come as quick as immediately, 6 hours or 24 hours depending on how complex the assistance needed is.
It is clear that iProfit EA is professionally designed. The information dispersal is encouraging as well and their claims are tempting. Their strategy, though complicated, seem genuine. However, absence of clients reviews is not a good thing. It is impossible to determine how traders would fare using this EA and no one will spend such amount on their packages without wanting proof that it works.