Hot Profit Robot Review

Jul 8, 2021 11:58 AM ET
Hot Profit Robot Review

Hot Profit Robot is an FX expert advisor that promises high profits to traders. The MT4 tool claims to have the market expertise needed to make traders successful in Forex. Accuracy in execution and full support is promised by this ATS. This EA claims to have outstanding performance and verified proven trading results.

Hot Profit Robot

Type

Fully-automated EA

Price

€ 17 to € 99 

Strategy

Range, momentum, and trend combo

Compatible Platforms

MT4

Currency Pairs

Any

Timeframe

N/A

Recommended Min. Deposit

N/A

Recommended Deposit

N/A

Leverage

1:500

Trading Strategy Explanation

Hot Profit Robot Trading Strategy Explanation

As per the vendor, subscribers will be able to benefit from more than 10 years of FX experience in this MT4 tool. The FX EA works by analyzing the market 24/7 assessing for the right entry opportunities. On execution of a trade, the EA continues to manage the TP and SL positions. Features of the ATS include mobile alerts, support, and guidance on installation. The calculation of lots is dependent on the settings. 

Hot Profit Robot Features

This FX robot uses different approaches as per the vendor info. The medium-range approach focuses on trade bounces with the help of candle patterns and SnR. Market momentum is another approach this MT4 tool makes use of to leverage the news events and their impact on the market. Another strategy this EA uses is the trend approach which is based on technical and fundamental analysis. There is no further explanation of how the approach helps the EA gain profit. 

Backtest Data Analysis

The vendor does not provide backtesting results for this EA which is disappointing. Strategy tester reports are vital to assess the efficacy of an FX robot. The absence indicates the EA is not reliable. Although the backtests are based on historical data, and are not predictive of future performance, traders prefer to use them for a better insight into the EA.

Live Trading Data Analysis

Trading Results

Myfxbook Account

Real (USD), FBS

Started

Jun 08, 2021

Deposit

$5045

Balance

$8630.74

Gain

71.08%

Daily

1.94%

Monthly

71.08%

Drawdown

82.32%

Profitability

74%

The vendor provides a live real USD account using the FBS broker and the leverage of 1:500 on the MetaTrader 4 platform. Verified by the myfxbook site, the trading stats and history are shown in the screenshots here:

Hot Profit Robot trading results

Hot Profit Robot trading results

From the trading stats, we could see deposits of $5045 have resulted in a total gain of 71.08% and an absolute gain of similar value. The daily and monthly profits are 1.94% and 71.085 respectively. A very high drawdown of 82.32% is shown for this account which indicates the strategy used is very dangerous. Furthermore, the advanced stats reveal the profitability of 74% and a profit factor of 1.74. The lot sizes used vary from 0.47 up to 0.95. From the varying lot sizes and low profit factor value, we find the approach is not as effective as the vendor would like us to believe.  

Pricing 

Hot Profit Robot Pricing

Pricing plans for this EA are of three types. The Mini plan claims to provide smooth weekly profits at € 17 per week. With the Smooth subscription pack that costs€ 64 per month, the EA promises profits with low risk, and the third plan named Aggressive costs € 99 per month with promises of high profits and optimized risk. 

While the first two plans come with a single trading account, monthly support, and automated trading, the third plan offers two trading accounts. No money-back assurance is present which makes us suspect this is not a reliable EA. When compared to competitor EA price ranges in the subscription format, the cost of this EA is expensive and not worth the money.

Customer Support

Besides not providing info on the developer, this EA does not offer many options for support. There is just an online contact form for support. Further, the website design is defective with the navigation panel not working. Clicking on any of the sections under the panel only brings you to the top part of the home page.

Review Summary

Pros

  • Fully automated trading

  • Verified trading results

Cons

  • Poor trading performance

  • Small sample size

  • No refund policy

Conclusion

Hot Profit Robot assures traders of high profits with minimal risk. But our analysis of the features, trading approach, performance, and other aspects reveal that it is not a reliable EA. The lack of vendor transparency, absence of adequate customer support options, and insufficient explanation of the approach are downsides that make us suspect the trustworthiness of this MT4 tool. Our doubts are confirmed by the poor trading results that reveal a high drawdown, big lot sizes, and small sample size. In short, this is not a trustworthy expert advisor for traders of any experience level.


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