The vendor of Hippo Trader Pro states that he will not guarantee you profits or promise you the moon or millions. Rather, he pledges to increase your chances of beating the Forex market through his robot, which is claimed to have a very advantageous profit/drawdown ratio. Read this review to find out if this allegation is true or not.
Hippo Trader Pro was authored by Michela Russo. He is based in Modena, Italy. His profile also includes a link that redirects you to TradingForex.Pro, a website that features other products and services he offers. Unfortunately, his skills and proficiencies are not mentioned.
The system has a number of features. They are highlighted below:
- Works on the M1 timeframe.
- Runs on the MT5 terminal.
- Provides a backtesting option that enables you to test its efficiency (test from 2003).
- Is compatible with any brokers.
- The minimum deposit is $1,000, but the recommended amount is $3k.
- The tester method is tick by tick.
- Is FIFO compliant.
- Customer support is provided through the mql5 message service or email ([email protected]).
Trading strategies and currency pairs
Hippo Trader Pro mainly supports the EURUSD currency pair. According to the vendor, the system follows the main trend and focuses on the European and Asian sessions. It utilizes an ATR filter, a volatility indicator that assists it to know when to initiate an order. We have also learned that 2 other strategies are at play-Grid and Martingale.
The EA underwent testing from 2003 to 2021, and during this time, it traded with the EURUSD symbol on the M1 timeframe. Although the deposit amount is not highlighted, the system made a total net profit of $9,162,880.07 and a maximum drawdown of 3.05%. The profit factor was 3.80.
A total of 8643 trades were executed. Nonetheless, they didn’t perform that well. We can see this from the recorded success rates of 77.47% for short trades and 76.39% for long trades. The average profit trade was $1869.58, whereas the average loss trade was -$1647.72.
Hippo Trader Pro trading statistics
The system is running a demo EUR account which makes us suspect that the vendor is not confident about its efficiency. Anyway, according to the data, a deposit of €10000 was placed when the account was launched on June 22, 2021. To date, it has completed 136 trades and made a profit of €2750.85 as a result.
The trading performance shows that the trading activities do not yield good results. The profit factor -2.34 and the win rates for long (62%) and short positions (70%) are poorer than the results displayed in the backtesting data. The average loss, which is -29.03 pips, is higher than the average win of 20.28 pips by about 8 pips. As such, the bot loses trades regularly.
The data above indicates that the bot didn’t trade frequently as it skipped trades for days. It also implemented risky trading approaches as evidenced by large lot sizes, a grid of orders, and martingale.
When it comes to open trades, the EURUSD pair has only made a profit on one occasion. The other trades are unsuccessful as they have reported losses, the largest one being -€83.04.
Pricing and refund
Hippo Trader Pro is retailing at $299 on mql5. Renting options are also available. You can get the software for 1 month at a cost of $199. The hiring price for 3 months is $269. Purchasing the products also qualifies you to receive a free copy of another EA. However, we still think that it is not worth this money. This is because a refund policy is not included. In addition, we have learned that the EA can expose your capital to numerous risks.
What else you should know about Hippo Trader Pro
According to customer feedback on mql5, traders are happy with Hippo Trader Pro. They say that it is a great EA and works well. Nevertheless, the testimonials have not been verified by a third-party like Trustpilot or FPA. So, their credibility is in question.