Forex Cyborg Review
The Forex Cyborg EA is a multi-currency forex robot for MT4 that has years of verified results along with quality backtests and excellent customer support from a dedicated development team.
The Forex Cyborg EA is an automated forex trading system developed to run in the MetaTrader 4 platform. This forex robot has been around for a very long time with verified Myfxbook results showing how it has performed over many years on real trading accounts. It also has top quality backtests which can give you an idea of how it performed historically, throughout different market conditions and across multiple currency pairs. The Forex Cyborg customer support is amongst the best of any forex software. They have been dedicated to developing, testing and improving the robot to ensure that it remains one of the most popular choices amongst forex traders of all experience levels. In this Forex Cyborg Review, we will take a look at the robot strategy, features and results.
Forex Cyborg can scan charts in the MT4 platform for trading signals based on its built-in algorithm. It uses complex analysis for its trading strategy, combining price action and technical analysis when looking for entry and exit opportunities. The EA trades towards the end of the New York trading sessions and around the Asian open, attempting to take advantage of the lower volatility around these hours. It incorporates some innovative features to try and avoid unsuitable broker and market conditions, such as high spreads, slippage and high volatility.
The Forex Cyborg EA strategy has been designed to trade an impressive 18 currency pairs at the same time and runs on the 15-minute chart timeframe. You can use it on a few currency pairs or all of those that the developer recommends, it really depends on your trading style and risk preference. That being said, you can limit the maximum open trades and the EA has correlation feature to try and avoid duplicate trades on currency pairs that often move in a similar direction.
You can set the software to trade automatically or to alert you so that you can manually place and manage your positions. The MT4 platform needs to be up and running on your computer to use Forex Cyborg or any other MT4 forex robot for that matter. If it is not possible to have your computer running all of the time, you could consider a Forex VPS which would enable you to remotely run the MT4 platform 24/7 without needing your home machine switched on.
Forex Cyborg has some innovative features that we haven’t seen in other forex robots. Although you can use this trading robot straight out of the box with the default set files that are included, you are also free to experiment with the settings and amend them according to your own preferences.
Some of the key Forex Cyborg features include the following:
Money Management
You can adjust the lot size or risk per trade to a level that you feel comfortable with. You can also set the robot to deactivate and stop trading if the account equity falls below a specific amount. Then you have the stop loss and take profit inputs which can be changed from the input settings.
Magic Number
The software has a magic number setting so that you can set its trades to be unique from others on your MT4 platform. This is useful for when running it on different charts and if you have other forex robots on your platform.
Risk Correlation
This is a very unique feature where you can configure the software to limit the amount of open trades on correlated pairs. This is to help avoid duplicate entries and to help control the overall risk possible at one time.
Trading Days
The robot can be set to avoid trading on specific days and around holidays. This can help avoid specific news events and periods where market behaviour is even more unpredictable than usual.
Anyone looking for the best trading robot, will certainly want to check to see if they have verified results and accurate backtests. Thankfully, the Forex Cyborg EA has years of verified Myfxbook results and top quality MT4 backtests. These are useful for potential users to get an idea of the robot statistics from past performance, although is no guarantee of how it will perform moving forward.
That being said, lets take a look at the Forex Cyborg results available from the official website:
Forex Cyborg Myfxbook
We have verified Forex Cyborg Myfxbook accounts that show how it has been performing on real trading accounts for a few years. Whilst some of the accounts haven’t been updated recently, others are up to date and have been running for a sustained period of time which can help us decide if the robot strategy is something that fits within our own trading style.
Forex Cyborg Backtesting
The developer has provided a great selection of Forex Cyborg backtests from the MT4 strategy tester. These backtests have been conducted using real tick data, variable spreads and including commission. This means that the modelling quality is maxed out at 99%, which is more or less the best possible backtesting conditions you can achieve in the MT4 strategy tester. This helps to emphasise that the develop knows what they are doing and can give us a clear idea of the Forex Cyborg EA performance, based on historical data.
The Forex Cyborg backtests show that it has a good win rate on various currency pairs across thousands of trades for many years of historical testing. The fact that it can run on different currency pairs and has produced good backtests shows that it has the potential to adjust to various market conditions for the short, medium and long term.
You will find Cyborg backtests using fixed lot and a fixed risk percentage. This is useful as fixed lots tend to give an easier to interpret idea on the statistics of a particular trading strategy whereas risk percentage shows the potential when compounding.
Here are the Forex Cyborg backtest portfolios combining all results from the MT4 strategy tester with 99% modelling quality:
The Forex Cyborg EA is a well-established automated forex trading system that has been around for many years and is backed by a dedicated development team who are always working on further improving the software. It uses a strategy that aims to take advantage of market hours where there is lower volatility. This will mean it is likely to have a chance of reaching its full potential when using a forex broker that has tight spreads, low commission fees and reliable execution speeds.
The software can be used with the default settings on many currency pairs, or you can experiment with your own settings should you have the skills to do so. It includes instructions for a quick and easy setup in your MT4 platform, full support, free lifetime updates and a 30-day money back guarantee. As with all forex robots, it is a wise idea to test Forex Cyborg on a demo account to begin with, in order to establish if it meets your expectations.
What is the Forex Cyborg price?
Forex Cyborg packages start from€499. The difference between each package is the number of real account licenses that you get. All packages include unlimited demo account licenses.
Where can I download the Forex Cyborg EA?
You can download the Forex Cyborg EA from the official website here.
What kind of customer support does Forex Cyborg offer?
Forex Cyborg has excellent 24/7 email support, with quick and helpful feedback.
What are the best brokers to use with the Forex Cyborg?
You can use any MetaTrader 4 broker to run the Forex Cyborg EA.
What’s the minimum amount required to trade with the Forex Cyborg?
There is no specified minimum amount required to start using this trading robot. However, you should only trade with what you can afford to lose due to the high-risk nature of forex trading.
What is the Forex Cyborg refund policy?
Forex Cyborg has a 30-day refund policy.
Is the Forex Cyborg a scam?
No, Forex Cyborg is not a scam but that does not guarantee good results. It does not matter how good any automated trading system is, nobody can predict the forex market with 100% accuracy.
Can I get the Forex Cyborg for free?
You probably could spend countless hours looking for a free version of the Forex Cyborg EA being shared without permission, but it will probably be out of date, not supported and potentially dangerous.
What currency pairs does the Forex Cyborg trade?
Forex Cyborg trades an impressive 18 currency pairs including: 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/NZD, EUR/NZD.
What are the best Forex Cyborg settings?
The best Forex Cyborg settings are probably those provided by the developer. Nobody will know the robot more than the person who created it. They would have spent countless hours over many years optimising the settings so that you don’t have to.
Can I change the Forex Cyborg settings?
If you have the knowledge and experience, you are free to experiment with your own input settings, this includes the lot size, stop loss, take profit, and more. You may wish to test your settings on a demo account to begin with. You could also backtest the robot in the MetaTrader 4 strategy tester with your own combination of settings to get a rough idea of historical performance.
What do I need to run the Forex Cyborg?
You will need the MetaTrader 4 desktop platform and an account with a forex broker. Most forex brokers will let you open an account with a small deposit or free demo accounts, and download the MetaTrader platforms free of charge.
How much money can I make with the Forex Cyborg?
There can be absolutely no guarantees on how good or bad any trading robot will perform. Due to the unpredictable nature of the forex markets, nobody can predict what will happen in the future. You should make sure that you understand all of the risks involved using any automated trading system such as the Forex Cyborg Expert Advisor.
Results are based on historical data. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. There is no guarantee of future performance. You should understand the risks involved with trading. Your capital is at risk.
