Forex FundsForex Robots

Forex Imba Review: Is It a Reliable System?

0
Forex Imba

Forex Imba is a trading advisor that has a 2-3-pages long presentation. We don’t have much information provided about features, settings, strategies, and other details. The developers didn’t reveal themselves to prove that they have a proper Forex-related experience. We don’t know if the system will be updated to work stable in 2022.

The advisor has some details explained which we systemized and placed in the following list in the right order.

  • The advisor can allow us to enjoy automatic trading on the terminal.
  • The system runs a real account.
  • It should get stable profits on the market.
  • There are no details provided about the time frame.
  • The advisor can be installed easily.
  • It uses fixed lot sizes.
  • There’s no Martingale strategy applied.
  • We have drawdown control on the board.
  • We can work with any broker.
  • It’s possible to switch an account number for real trading many times.
  • There’s access to the user manual available.
  • The devs provide us with significant and helpful support.

Trading strategies and currency pairs

  • The strategy wasn’t mentioned. It looks like it’s a Grid and Martingale combo.  It’s dangerous because several Grids can blow half of an account easily.
  • We can trade only two pairs: AUDUSD and EURUSD.
  • No details about time frames provided.
  • We are able to get started with $60 on the balance.
Forex Imba backtest report

Forex Imba backtest report

The devs tested AUDUSD on the M30 time frame and shared the final report here. The modeling quality was only 90.00% with 3-pip spreads. An initial deposit was $1000 that has become $449,955,401 of the total net profit. The profit factor was 3.23. The advisor closed 869 deals. The maximum drawdown was 11.93%. The win rate was 78% for short and 76% for long trades.

 Forex Imba trading statistics

Forex Imba trading results

Forex Imba trading results

Forex Imba was set trading on a real FXOpen-based account with 1:500 leverage on MT4. So, this looks common. The account has a verified track record. It was created on April 24, 2014, and deposited at $1,500. Its total gain is 179.94%. The growth hart shows that the system isn’t stable and easily losses from 10% to 30% of the balance.

Forex Imba details

Forex Imba details

It has closed 913 deals with 2115.6 pips. An average win is 28.16 pips when an average loss is -64.36 pips. The system traded 182.93 lots. Its win rate is average – 71% and 72% for short and long trades. The profit factor is 1.07.

Forex Imba directions

Forex Imba directions

AUDUSD is the only pair for the system to work with. We may note Martingale because the short trading direction has 1423.6 pips of profits but -$245.50 of losses.

Forex Imba’s high trading risks

Forex Imba’s high trading risks

There’s a 88.2% chance of losing or 3 orders lost to lose 10% of the balance.

Forex Imba closed orders

Forex Imba closed orders

It’s noticeable that the robot easily closes 4 deals with losses.

Forex Imba monthly activities

Forex Imba monthly activities

Trading results in 2021 were predictable and profitable.

Pricing and refund

Forex Imba pricing details

Forex Imba pricing details

The developers suggest we buy a copy of the system for $194.99. The package details aren’t revealed. So, we don’t know how many real or demo licenses are available, if we can change them for free many times, updates and support for the robot, and so on. We can only expect the robot to be delivered with a 30-day money-back guarantee.

What else you should know about Forex Imba

The system has been consistently trying to recover the balance without significant success. So, this means that the robot has to be updated.

People feedback

A page of Forex Imba on FPA

A page of Forex Imba on FPA

We have a profile of Forex Imba deployed on Forex Peace Army. The developers decided not to connect any account to the profile.

Forex Imba Conclusion

3.1

The advisor has been working since 2016. The system couldn’t prove its stability and profitability the last several years. So, we don’t know about investing in it. The advisor most likely has to be updated.

  • Price - 6/10
  • Strategy - 4/10
  • Trading Results - 2/10
  • Vendor Transparency - 2/10
  • Customer Reviews - 2/10
  • Support - 3/10

    Zero to Hero FX Signals Review: Is It a Reliable System?

    Previous article

    S&P 500 Likely to Close 2022 With Lower Returns

    Next article

    You may also like

    Comments

    Leave a reply

    Your email address will not be published.

    More in Forex Funds