Today in this Sweet Profit Robot review, we are going to analyze a Forex expert advisor, which is advertised as the best solution for traders to give them ‘Smart Profits Every Day’. The developers claimed that it’s High Profits Ratio – Making Live Profits. The expert advisor seems a risky solution especially after seeing the chart line on the myfxbook widget. If the developers couldn’t handle its settings, we’re sure the investor without trading experience wouldn’t do it too.
Is this robot a viable option?
Let’s talk about strategies and features that were grouped up in the list:
- The developers didn’t reveal a trading strategy.
- Trading results showed that there are aggressive Grid and medium Martingale strategies.
- The robot works with the currency pairs: AUD/USD, EUR/USD, GBP/AUD, GBP/USD, USD/CAD, USD/CHF, and USD/JPY.
- The EA trades fully automatically.
- It works only on the MetaTrader 4 platform.
- The system has a very high-profit ratio strategy.
- The EA works perfectly well for any market condition.
- We’re free to trade all currency pairs that we want.
- There’s a filter from High Impact News.
- The money-management calculates Lot Sizing automatically.
- It sets SL and TP levels for each open deal.
- The system works through one chart. There’s no need to attach the EA to all of them.
- The default settings are well-customized.
- The developer didn’t provide information about themself. So, they asked us to trust them blindly.
How to start trading with Sweet Profit Robot
The robot sells in two packages: Standard and Premium. The Premium pack costs $169.99 monthly and allows using the robot on two real or demo accounts. The Standard pack costs $99.99. It includes a single license for a real or demo account. There’s free live installation support. There’s no refund policy because both options are subscriptions.
- The minimum balance requirements for a 0.01 Lot are $100.
- The optimal leverage is 1:500.
- We don’t know anything about settings, installation process, etc.
Sweet Profit Robot backtests
The developers didn’t provide any backtest reports. It means the robot hadn’t got proper testing before it was released.
Sweet Profit Robot ran a real USD account that was hosted by the FBS broker house. It worked automatically with 1:1000 leverage on the MetaTrader 4 platform. The account had a verified track record. It was created on September 03, 2020, and deposited at $5000, and never withdrawn. The absolute gain, an average monthly gain, and the maximum drawdown were -99.9%. The account is still tracked by 19 people.
The EA has closed 217 deals with -593.4 pips. An average win was 15,22 pips. This is twice fewer than an average loss – 29.56 pips. The average win-rate was between 58% and 60%. An average trade length was almost eight hours. The profit factor was less than 1 (0.84).
The robot worked with seven symbols. The most profitable was EUR/USD $3994, but only in the SELL direction – $7317. The less profitable was GBP/AUD – $15208 of losses.
Sweet Profit Robot traded mostly during the European trading hours.
The robot worked weirdly if we look at the weekly trading activities.
The EA stopped running the account with the maximum risk to the account balance.
As we can see, it was an insane-sized Grid with a quite big Martingale Lot Sizes that was closed after Margin Call and Stop Out. The robot couldn’t overtake the drawdown period because of the lack of margin.
The first month of trading has become the last one.
There is a Trustpilot-like fake rate based on never-existing feedback.
We’d not trust these numbers, because the site was created in 2020.
There’s a page on Forex Peace Army. The account has a “Crashed and Burned” rate.
This system is a scam for the following reasons:
- No team revealed
- No strategies explanations provided
- There are aggressive Grid and Martingale on the board
- No backtest reports provided
- The real account was blown
- High-risk trading
- Insane subscription-based pricing
- No money-back-guarantee provided
- No people testimonials provided
Sweet Profit Robot is a scam because it zeroed the account for several weeks in September 2020. The system is based on an aggressive Grid with Martingale lot sizes. We always notice that it’s straightway to burning the account, especially with less than 80%-85% win-rates. There’s nothing to pay for. The robot keeps being a scam because the developers don’t care about it.