Summary
The Forex Cyborg EA is a fully-automated foreign exchange trading system that was designed to operate in the MetaTrader 4 environment. This forex robot has been operating for a very long time, and the results that it has achieved on real trading accounts, as certified by Myfxbook, reflect how well it has performed over the course of many years. In addition to this, it comes with backtests of the highest quality, which may provide you with a notion of how it performed historically, in a variety of market situations, and in a wide range of currency pairs. Customer service provided by Forex Cyborg is consistently ranked among the very finest offered by any forex program. They have devoted a lot of time and effort into building, testing, and refining the robot to guarantee that it continues to be one of the most well-liked options available to forex traders of all experience levels. In this review of Forex Cyborg, we will investigate the trading approach, features, and outcomes of the robot.
Pros
• Forex robot that is fully automated
• Operates on different currency pairings
• Configurable settings
• Verified results from Myfxbook
• 99% modeling quality backtests
• Unique risk correlation features
Cons
• You will need to work with a broker who has low commission rates and narrow spreads
• Trades only in the evening;
• MetaTrader 4 is the only platform supported;
• Not the cheapest option
Strategy
The built-in algorithm of Forex Cyborg enables it to search the charts of the MT4 trading platform for potential trading signals. It employs intricate analysis as its trading method, integrating price movement with technical analysis in order to identify potential entry and exit points in the market. The EA makes its trades at the conclusion of the trading sessions in New York and around the time when Asian markets open in an effort to capitalize on the lower level of volatility that occurs during these times. It makes use of a number of cutting-edge features in an effort to steer clear of brokers and market conditions that are not optimal, such as excessive spreads, slippage, and high volatility.
The Forex Cyborg EA trading method was developed to trade an amazing 18 currency pairs at the same time and is designed to operate on a timeframe of 15 minutes for the chart. It truly depends on your trading style and how comfortable you are with taking risks as to whether you should use it on a few currency pairs or all of those that the developer advises. Having said that, you have the ability to set a maximum number of active trades and the expert advisor (EA) comes equipped with a correlation feature that helps traders avoid making duplicate trades on currency pairings that frequently move in the same direction.
You have the option of setting the software to automatically trade for you or to alert you so that you can manually execute trades and manage your positions. In order to utilize Forex Cyborg or any other MT4 forex robot for that matter, the MT4 platform on your computer needs to be active and functioning properly. If it is not possible for you to keep your computer turned on at all times, you might want to think about getting a Forex virtual private server (VPS), which would allow you to run the MT4 platform from a remote location around the clock without the requirement for your own computer to be active.
Features Unlike any other forex robot that we have used, Forex Cyborg is equipped with a number of cutting-edge features. Although you can use this trading robot right out of the box with the default set files that are included, you are also free to experiment with the settings and make changes to them according to your own personal tastes.
The following is a list of some of the most important features offered by Forex Cyborg:
Money Management
You have the ability to modify the lot size or the risk associated with each trade to a level that is satisfactory for you. You also have the option of programming the robot to deactivate itself and cease trading if the equity in the account drops below a certain threshold. Then there are the inputs for the take profit and stop loss, both of which are modifiable through the parameters for the inputs.
The Mystical Number
The software has a “magic number” configuration option, allowing you to distinguish its trades from those of other users on your MT4 platform. This is helpful if you plan to run it on many charts or if you already have other forex robots installed on your platform.
Risk Correlation
You can limit the number of open transactions on linked pairings by configuring the software to do so, which is a highly unique function that can be found in the software. This is done to assist in preventing duplicate entries and to assist in controlling the entire risk that can be incurred all at once.
Trading Days
It is possible to program the robot to refrain from trading on certain days and around holidays. This can assist traders steer clear of certain news events and periods in which market behavior is even more erratic than usual.
Results
Anyone looking for the best trading robot will want to make sure that they check to see if the company in question has accurate backtests and confirmed outcomes. Thankfully, the Forex Cyborg EA possesses years’ worth of confirmed results from Myfxbook as well as high-quality MT4 backtests. Although there is no assurance as to how well the robot will work in the future, these are helpful for potential users to gain an idea of the robot’s statistics based on its previous performance.
In light of this, let’s have a look at the Forex Cyborg outcomes that are now published on the official website:
Myfxbook Forex Cyborg Forex
We have Forex Cyborg Myfxbook accounts that have been validated, and these accounts indicate how it has performed on genuine trading accounts over the past few years. While some of the accounts have not been updated recently, others are up to date and have been operating for an extended period of time. This can help us determine whether or not the robot technique is something that is compatible with the way that we trade.
Backtesting with the Forex Cyborg
A substantial number of Forex Cyborg backtests derived from the MT4 strategy tester have been made available by the developer. The genuine tick data, varying spreads, and full commission were all incorporated into these backtests before they were run. This indicates that the modeling quality has been increased to its maximum level of 99%, which is roughly equivalent to the best possible backtesting circumstances that can be achieved in the MT4 strategy tester. This helps to highlight that the developer knows what they are doing and can provide us with a clear notion of the performance of the Forex Cyborg EA based on past data.
The results of the Forex Cyborg backtests demonstrate that it has a high rate of success when trading on a variety of currency pairs throughout a large number of trades conducted over a significant amount of time. The fact that it can be executed on a variety of currency pairs and that it has been successful in its backtesting demonstrates that it has the capacity to adapt to a wide variety of market situations throughout the short, medium, and long terms.
Cyborg backtests can be found online, and they typically use a fixed lot size and a fixed risk %. This is helpful since fixed lots have a tendency to give an insight on the statistics of a certain trading technique that is easier to grasp, whereas risk percentage demonstrates the potential when compounding.
The following is a list of the Forex Cyborg backtest portfolios, which combine all of the results from the MT4 strategy tester and have a quality of 99% modeling:
Conclusion
The Forex Cyborg EA is a well-established automatic trading system for forex that has been around for a number of years. It is supported by a dedicated development team that is continually working on further enhancing the program in order to meet the needs of traders. It employs a tactic that targets market hours when volatility is lowest in the hopes of profiting from those conditions. When choosing a forex broker that has narrow spreads, cheap commission fees, and reliable execution speeds, this will indicate that it is likely to have a chance of reaching its full potential.
You have the option of using the software with the default settings on a wide variety of currency pairs, or you can experiment with your own settings if you are confident in your ability to do so. It comes with instructions for a quick and easy setup in your MT4 platform, complete support, free lifetime upgrades, and a guarantee that you can get your money back within the first 30 days. In the same way that you should do so with any other forex robot, you should begin by testing Forex Cyborg on a demo account in order to see whether or not it lives up to your expectations.
FAQ
What is the current price of Forex Cyborg?
Prices for Forex Cyborg packages begin at €499. The amount of genuine account licenses that are included in each plan is what differentiates them from one another. Every plan comes with an unlimited number of licenses for demo accounts.
Where can I get the Forex Cyborg EA to download it?
The Forex Cyborg EA is available for download from the official website, which can be found here.
What sort of assistance with customer service can Forex Cyborg provide?
Excellent email service available around the clock, with prompt and insightful responses. Forex Cyborg.
To get the most out of the Forex Cyborg, which are the finest brokers to use?
For running the Forex Cyborg EA, you can use any broker that supports MetaTrader 4.
What is the lowest amount that must be deposited in order to trade with the Forex Cyborg?
This trading robot does not have a minimum deposit requirement that must be met before you can begin utilizing it. Due to the high level of risk associated with forex trading, you should limit your trading to an amount that you can comfortably afford to lose.
What is the policy regarding refunds at Forex Cyborg?
The Forex Cyborg return policy lasts for a full thirty days.
Is the Forex Cyborg a fraudulent product?
No, Forex Cyborg is not a fraud; nevertheless, this does not ensure that you will have successful trades. No automated trading system, regardless of how accurate its predictions may be, can ever hope to beat the market accuracy of the foreign exchange (Forex) market.
Is there a cost associated with using the Forex Cyborg?
You may spend numerous hours seeking for a free version of the Forex Cyborg EA that is being distributed without authorization; but, it is highly likely that the version you find will be out of date, unsupported, and potentially harmful.
The Forex Cyborg trades what currency pairings, if any.
The impressive number of currency pairs that Forex Cyborg trades includes the following: AUD/CAD, AUD/CHF, AUD/USD, CAD/CHF, CHF/JPY, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/USD, GBP/AUD, GBP/CAD, GBP/CHF, GBP/USD, USD/CAD, USD/CHF, USD/JPY, AUD/N
Where can I get the optimal settings for Forex Cyborg?
The default settings that come with Forex Cyborg are generally going to be the most effective ones. Nobody will be more familiar with the robot than the individual who made it. They would have invested a significant amount of time and effort over a long period of time in order to optimize the settings so that you wouldn’t have to.
Is it possible to alter the parameters of the Forex Cyborg?
You are allowed to experiment with your own input settings, including the lot size, stop loss, take profit, and a variety of other parameters, provided that you have the necessary knowledge and experience. To begin, you might find it helpful to test out your configurations on a demo account. Backtesting the robot in the MetaTrader 4 strategy tester using your own unique configuration of settings is another option for getting an approximation of the robot’s performance in the past.
What components do I need to get the Forex Cyborg up and running?
You will need to have an account with a forex broker and the desktop application MetaTrader 4 to trade currency. The majority of forex brokers will enable you to register an account with a little initial deposit, provide you with access to free demo accounts, and allow you to download MetaTrader platforms at no additional cost.
How much of an income can I anticipate from using the Forex Cyborg?
There is no way that any trading robot’s potential success or failure can be predicted with any degree of accuracy. Because of the volatile and unexpected character of the currency markets, it is impossible for anyone to forecast what will occur in the future. When using any kind of automated trading system, such as the Forex Cyborg Expert Advisor, you need to be sure that you are aware of and prepared for all of the potential hazards.
