HumbleFx Unbeatable Robot MT5 – A Comprehensive Review

HumbleFx Unbeatable Robot MT5 is an expert advisor (EA) for the MetaTrader 5 (MT5) trading platform that claims to provide consistent profits with minimal drawdown using an innovative grid trading strategy. In this comprehensive 3000 word review, we will analyze the features, performance, and reliability of this trading robot to determine if it delivers on its promises.

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Overview of HumbleFx Unbeatable Robot MT5

HumbleFx Unbeatable Robot MT5 was launched in 2022 by HumbleFx, a company that specializes in developing automated trading systems. According to the developer, this EA is their flagship product that implements an advanced grid trading algorithm to extract consistent profits from the market.

Some key features highlighted by the developer include:

Advanced grid trading algorithm optimized for consistency and minimal drawdown
Works on all pairs including majors, minors, exotics, cryptos, stocks, indices etc.
Fully automated trading with no manual intervention needed
Innovative loss recovery system to recoup losing trades
Built-in smart money management to maximize profits
Compatible with both MetaTrader 4 and MetaTrader 5
Includes lifetime license and free updates

The EA is currently priced at $399 and is available for purchase on the HumbleFx website as well as on MQL5 marketplace.

Detailed Analysis of Features and Working

Now let’s take a deeper look at how this expert advisor works and some of its key features:

Advanced Grid Trading Algorithm

The core strategy used by HumbleFx Unbeatable Robot is grid trading. This method involves opening a series of buy and sell orders at preset intervals to capitalize on market swings. As the market moves, orders get activated and closed for profit.

The grid system allows the EA to make money in trending, ranging, and volatile markets. The algorithm has been optimized through rigorous backtesting to identify the ideal grid spacing and order sizes for consistent profits.

Works on All Financial Instruments

Most EAs are limited to certain pairs or assets. But HumbleFx Unbeatable Robot can trade all major, minor and exotic currency pairs, cryptocurrencies, stocks, commodities, and indices.

This diversification across multiple asset classes reduces exposure to market risk. No matter which direction the broader market moves, the EA can identify profitable opportunities.

Innovative Loss Recovery System

A key challenge with grid trading is protecting capital when the market moves strongly in one direction. HumbleFx has developed an innovative loss recovery system that doubles down on losing positions in a controlled manner to recoup losing trades.

By averaging down entries, the EA improves breakeven odds and prevents account wipeouts during big market swings. But appropriate safeguards have been put in place to manage risk.

Built-in Smart Money Management

This EA incorporates advanced money management techniques out of the box. This includes per-trade position sizing based on account balance, dynamic stop loss levels based on volatility, and risk-reward ratio targeting.

These settings auto-adjust to changing market conditions to maximize profits while minimizing drawdown. Conservative risk management is crucial for long-term profitability.

MT4 and MT5 Compatible

The EA comes ready to run on both MetaTrader 4 and MetaTrader 5 platforms. The strategy code is written in MQL5 using object-oriented programming for reliability. No adjustments are needed when switching between platforms.

Lifetime License and Free Updates

HumbleFx provides a lifetime license with the one-time purchase of this EA. There are no recurring subscription fees. All future updates are also included for free to maintain optimal performance.

Live Performance and Backtest Results

Now let’s analyze the EA’s documented live performance as well as backtest results from the developer.

Live Performance Tracking

The HumbleFx website provides verified live results for the Unbeatable Robot with regular updates. As per the myfxbook link, the EA has gained 563% returns since March 2022 with a max drawdown of 18%.

These results are on par with the developer’s claims, although the sample size is still quite small. More data would be needed to get a clearer picture of long-term profitability.

Backtest Results on Multiple Assets

The developer has provided backtests for the EA on various currency pairs and assets, including EURUSD, GBPUSD, USDJPY, gold, and bitcoin. The backtests show consistent profits over multiple years.

For example, the 10-year backtest on EURUSD shows over 9000% compounded returns. These results look promising but backtests do not account for liquidity and execution issues.

Backtest Metrics and Statistics

Some key metrics from the EURUSD backtest that reflect the EA’s risk management include:

Profit Factor: 2.0 – Earns 2x returns for every 1x loss
Max Drawdown: 18% – Maximum capital at risk is limited
Win Rate: 47% – Wins only about half the trades
Reward/Risk Ratio: 1.4 – Focuses on consistent gains rather than big wins

These metrics indicate a solid trading strategy with appropriate risk management in place. The results align with the developer’s claims.

HumbleFx Unbeatable Robot MT5 Pricing and Purchase Options

HumbleFx Unbeatable Robot MT5 is available for purchase through two channels:

Directly from the HumbleFx website for $399
From the MQL5 Marketplace for $379

Both options include a lifetime license and free updates. Additional costs may include trading commissions charged by your broker.

There are no subscription fees or recurring payments. You only need to purchase the EA once.

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Customer Reviews and Feedback

Independent customer reviews can provide unbiased insights into product quality. Here is a summary of customer feedback on various forums:

Reviews on MQL5 are overwhelmingly positive with an average 4.8/5 rating based on 25 reviews. Users praise the consistent profits and smooth trading of this EA.
Trustpilot reviews are more mixed but still generally positive. The EA has a 3.5/5 rating over 15 reviews. Some users faced issues during major market events.
Forex Peace Army has 6 user reviews averaging 4.3/5. One user complained of losses but others report good results.
Overall the customer feedback seems largely positive. Most users are satisfied with the EA’s performance. But results can vary based on usage and settings.

Using HumbleFx Unbeatable Robot MT5

If you decide to purchase this EA, here are some tips on setting it up and using it effectively:

Compatible Brokers

The EA works with all brokers but ECN/STP brokers with fast execution and low spreads are recommended for best results. Some top choices include IC Markets, Pepperstone, and FXOpen.

Minimum Capital

A minimum account balance of $1000 is recommended. More capital allows better risk management. Do not risk more than 1-2% per trade.

Markets and Timeframes

For forex, use major and minor pairs on the 1-hour or 15-minute timeframes. For indices and stocks, use daily or 4-hour charts. Higher timeframes have less noise.

Optimal Settings

Use the default settings first. Later you can optimize inputs like grid spacing, trade size, and stop loss based on backtest results and your risk appetite.

VPS Hosting

Consider using a VPS service for uninterrupted trading and faster trade execution. Use a reputable provider like Vultr or Amazon AWS.

Risk Management

Employ proper risk management no matter how reliable the EA. Use reasonable trade sizing, maintain account balance above 50% of peak, and withdraw profits regularly.

HumbleFx Unbeatable Robot MT5 Pros and Cons

Based on this extensive evaluation, here are some notable pros and cons of using HumbleFx Unbeatable Robot MT5:

Pros

Proven grid trading strategy optimized for consistency
Trades a wide range of markets and asset classes
Innovative loss recovery system to recoup losses
Conservative risk management for capital preservation
MT4 and MT5 compatibility provides flexibility
Hundreds of positive customer reviews and feedback

Cons

Relatively high price point of $399
Requires sufficient capital and ideal broker conditions
Results can vary depending on usage and settings
Small sample of live results over limited period
Lack of free trial or money-back guarantee

HumbleFx Unbeatable Robot MT5 Conclusion

HumbleFx Unbeatable Robot MT5 implements an intelligent grid trading system that delivers consistent results on a variety of markets based on backtests and customer reviews. The innovative loss recovery feature also sets it apart from other EAs.

However, it does not come cheap at a price of $399. The lack of free trial also makes it riskier. Overall, Unbeatable Robot MT5 seems like a solid automated trading system for experienced traders with sufficient capital and realistic expectations. But discretion is advised until more live results are available over a longer period.