Tik Capital Bot Review: An In-Depth Look at This Automated Trading Software
Tik Capital Bot is an automated trading software that utilizes artificial intelligence and algorithms to trade forex and cryptocurrencies. The bot runs on the popular MetaTrader 4 and 5 platforms and promises fully automated trading with any broker.
In this comprehensive review, we will take an in-depth look at Tik Capital Bot to understand how it works, its features, strengths and weaknesses, and whether it’s worth trying for your trading needs.
Overview of Tik Capital Bot
Tik Capital Bot is developed by a team called Business Breakthrough and marketed as an “expert advisor” or EA for short. It is designed to scan the markets for trading opportunities across multiple timeframes simultaneously and enter trades based on its algorithms.
Some of the key features highlighted by the developers include:
- Fully automated trading – once installed, the bot will automatically trade based on its settings without any manual intervention.
- Intelligent algorithms – uses AI and machine learning to continuously scan markets and identify trading opportunities.
- Multi-timeframe analysis – monitors multiple timeframes like 1min, 5min, 15min simultaneously for a dynamic trading approach.
- News filter – has an inbuilt news filter to avoid trading during high-impact news events.
- Risk management – incorporates risk management features like stop loss and take profit levels.
- Backtesting capabilities – allows backtesting trading strategies on historical data to gauge performance.
- Support for major forex pairs and cryptocurrencies – trades popular forex pairs like EUR/USD, GBP/USD, USD/JPY as well as major cryptocurrencies.
- Availability on MT4 and MT5 – can be used seamlessly on both MetaTrader 4 and MetaTrader 5 trading platforms.
On paper, Tik Capital Bot seems like an advanced automated trading solution equipped with all the major features one would expect. But does it deliver on its promises? Let’s analyze further.
How Tik Capital Bot Works
According to the developers, Tik Capital Bot utilizes an AI-based algorithm that is designed to monitor price action and market conditions across multiple timeframes. This enables it to identify trading opportunities for both trending and ranging markets.
Some of the key aspects of its trading approach include:
- Technical analysis – primarily relies on technical indicators like moving averages, RSI, stochastic etc. to identify trading setups. Does not incorporate fundamental analysis.
- Momentum trading – enters trades in the direction of the current momentum by looking for overbought/oversold levels.
- Scalping – seeks to profit from small price movements and closes trades quickly with small targets.
- High-frequency trading – opens multiple positions throughout the day for quicker profits.
- Multipair trading – trades different currency and crypto pairs simultaneously based on detected strengths and trends.
The bot is supposed to open 3 to 7 trades per day on average and target a profit to loss ratio of 1:3 according to the risk management settings. The number of simultaneous trades depends on the account balance.
Overall, the trading logic aims to capture short-term movements and volatility across markets. But the lack of fundamental factors and market sentiment analysis leaves it exposed to sudden trend reversals and spikes.
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Performance Metrics and Backtesting Results
The developers have not provided verified backtesting results or performance metrics for Tik Capital Bot. However, based on customer reviews, the average monthly returns range from 10% to 30% under optimal conditions.
The absence of long-term backtesting data makes it difficult to gauge the consistency and viability of the trading strategy. Some of the key metrics that determine an EA’s profitability include:
- Win rate – percentage of winning trades
- Risk-reward ratio – average risk to reward per trade
- Max drawdown – worst peak to valley loss
- Sharpe ratio – risk adjusted return
Without insights into these metrics, traders cannot objectively evaluate the potential profitability of the bot. The lack of transparency regarding historical performance is a concern.
The developers recommend demo testing the bot before going live. Traders are advised to do extensive backtesting with different parameter settings and market conditions to better understand its capabilities.
Strengths of Tik Capital Bot
- Fully automated trading without manual intervention
- Utilizes algorithms and AI for dynamic trading
- Trades multiple currency and crypto pairs
- Incorporates stop loss and take profit for risk management
- Scalping and high-frequency trading allows fast exits
- Multi-timeframe analysis provides more opportunities
- News filter avoids high-impact events
- Available on both MT4 and MT5 platforms
- Reasonable monthly returns of 10% to 30% claimed
Weaknesses and Risks
- No verified backtest reports shared
- Lack of long-term performance metrics
- Over-reliance on technical indicators
- No fundamental or sentiment analysis
- Risk of over-optimization and curve-fitting
- Exposure to sudden market volatility and reversals
- Higher risk with cryptocurrency trading
- Requires monitoring and optimization
- Mediocre reviews and feedback online
The lack of fundamentals and sentiment analysis leaves the bot prone to unforeseen volatility and trend reversals. The absence of long-term performance data also makes results consistency questionable. Extensive demo testing is highly recommended before using it with real capital.
Costs and Pricing Plans
Tik Capital Bot is sold via a one-time fee that varies based on the license type:
- 1 Live Account License – $399
- 3 Live Account License – $599
- 5 Live Account License – $799
- 10 Live Account License – $999
The pricing is reasonable compared to many EAs that charge monthly subscriptions. No additional fees need to be paid once purchased.
The developers also offer a 14-day money back guarantee which allows getting a refund if not satisfied with the bot’s performance. However, the money back policy has several conditions that make it difficult to actually get the refund.
Overall, the one-time fee makes Tik Capital Bot more affordable than recurring subscription models. But the money back policy needs more transparency.
Customer Reviews and Ratings
Independent customer reviews for Tik Capital Bot are mixed. On ForexPeaceArmy, it scores an average rating of 5.8 out of 10 based on 19 reviews.
Positive reviews highlight the ease of use, regular profits and good risk management. However, negative reviews point out the lack of consistency, issues with slippage and spreads, and mediocre results in live trading. Some also complain about the refusal of refunds by the developer under the money back policy.
On other third-party review sites like ForexRobotNation, TrustPilot, and ForexRobotExpert, feedback is also quite varied. Satisfied users mention convenience of automated trading and steady returns. But many point out lack of profitability across different market conditions, the need for constant optimization, and poor customer support.
The 1-star review on Trustpilot complains about false advertising, inability to withdraw money, and absolutely no support from the vendor. The 1-star ForexRobotNation review also warns traders that it is a “complete waste of money”.
On YouTube, several reviews allege that Tik Capital Bot is likely a scam and raise concerns about its legitimacy. They advise traders to avoid such potentially fraudulent trading bots that promise unrealistic profits.
The lack of any detailed performance reports, ambiguity about the developers, and prevalence of negative feedback on multiple platforms makes the credibility of Tik Capital Bot questionable. The consensus is that extensive caution must be exercised before purchasing this EA.
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In summary, Tik Capital Bot appears to use intelligent algorithms and automated trading but lacks transparency about verified historical results. The mixed customer reviews and suspicions around its trustworthiness are red flags. Traders are best advised to avoid this EA given the available information.
More objective reviews from real traders over long-term use, along with detailed performance metrics, are needed before Tik Capital Bot can be considered a reliable automated trading solution. Currently, the evidence indicates it is likely a scam or at best a suboptimal trading bot. Proceed with extreme caution.