Today I’m reviewing a new Forex robot by a company the claims we’ve seen the rest and now it’s time that we see the best, Forex Cyborg. The developers of the system advertise it as “the most innovative multicurrency Forex trading robot on the market.” It is built to work with 14 currency pairs simultaneously on 15 minute charts. It’s the goal of the creators to provide traders a long-term investment opportunity.
There is no information provided on the developers of the software, or the location of the company that produced. In order to get in touch with support, you have to fill out a contact form at the bottom of the sales page.
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Forex Cyborg Review
The first thing I noticed on the website, is how clean and professional looking at us. The people who put the Forex Cyborg sales page together, did and efficient job at creating something with aesthetic appeal. There’s quite a few back tests, and a my FX book account but there is very little information about the strategy behind the software. We are told that the software “incorporates a combination of unique features including neural networks and deep learning which help to ensure that it has such an impressive win rate.” They have included a couple specifications as well.
- Money Management
In this section they inform us that the software does not use any martingale strategies and gives traders the ability to choose between 2 different settings packages, normal and conservative.
- Trading Hours
Depending on the chosen pair, the software will open trades during the hours of 18:30-23:30 GMT. Trading specific hours is something that interests me greatly, as I’ve had a lot of success with the Forex Fury robot, which trades 1 hour a day. This type of specificity when it comes to a strategy is very important to me.
Type: Forex Robot
Pairs: AUDCAD, AUDCHF, AUDUSD, CADCHF, EURAUD, EURCAD, EURCHF, EURGBP, EURUSD, GBPAUD, GBPCAD, GBPUSD, USDCAD, USDCHF
There are 4 different Forex Cyborg packages available. The main difference between these options are the amount of currency pairs, the price and the amount of licenses. In the €299-€399 price range, traders get access to 7 currency pairs and either one real license or 3 real licenses. In the €499-€599 price range, traders get access to all 14 currency pairs and either one real license or 3 real licenses. The recommended package, is the gold package which comes with one real license and 14 currency pairs.
As I mentioned above, the Forex Cyborg system comes with 14 back tests and one my FX book account. As I’m not really interested in back tests in 2017, I’ll focus mostly on the my FX book account and take a look at how the system has been performing. This my FX book account is currently showing a 25% gain in the course of a month and a half. This equates to a daily percentage of 0.39%, a monthly percentage of 12.26% and a drawdown of 8.38%. These are all efficient numbers, that make the system look like a stable opportunity. Yet, the software has only been running for about a month and a half, so we are probably best to wait and see how the system continues to perform moving forward.
The robot is generally winning small trades between 6 to 20 pips, and losing trades in the same sort of region. Most losses are very small with the exception of one large loss that was -87 pips.
At the top of the my FX book page it does state that “this account uses a custom start date,” so this is something I’d like to look into more as well. The last thing we would want is the developer to be blocking access to losing trades to protect themselves.
2021 Forex Cyborg Update
It’s been a couple years since we last revisited the Cyborg EA services. Despite such a long time passing between our review and now, there’s been very little in terms of client feedback. There are no reviews on FPA, and the most recent comments here on FRN have all been negative. The last two clients claim that the results are bad, and one was even denied their refund request. This is not an ideal scenario.
There are some positives though, and these come in the form of their Myfxbook trading results. The Forex Cyborg team continues to provide impressive Myfxbook accounts, showing gains on live accounts. Here is another one of their recent accounts.
While this account did have a sharp loss of over 100% recently, it is still running, and on a live account with Circle Markets.
The only real concern we have is with the client results. We can’t seem to find any client results, and it’s unknown whether or not clients are able to have the same sort of success that the vendor shows. Seeing some client accounts is certainly a must at this point before signing up.
My first impressions of the Forex Cyborg robot are positive. That doesn’t mean that I will be signing up today, but that doesn’t mean that I will be keeping track of their progress and watching how well their clients are doing as soon as feedback starts rolling in. As of right now, there is no real customer feedback because the system is so fresh, so little be interesting to see how this all unfolds. I’ll be providing a 3 star review at this point in time, and then changing the rating based on the successes or failures of real traders using the software.
Thank you for stopping by, and please let me know if you have anything you would like to add to the review now.
Forex Cyborg €299-599
Forex Cyborg is a scalping robot that’s been around for many years, and still acquiring clients.
Scalping strategy Multiple options M15 timeframe Long term performance
Stagnant results High price