IvyBot is a new automated Forex trading software that claims a 94% success rate. What’s so special about this software is that it consists of four separate robots for each currency pair: EUR/USD, EUR/JPY, USD/CHF, USD/JPY. These robots employ tested and proven Forex trading strategies. The algorithm of trading system programmed into Expert Advisors includes trend analysis, weighted price action, technical price patterns, market liquidity, volatility, and forward projection scanning.
IvyBot in preferred settings focuses on shorting and runs on 1H chart. That means only 3-10 trades a week. This means it is slow but reportedly quite accurate. You can see a live IvyBot trading account statement: click here. At the time of writing this review it’s well into the profit, with 2 losing trades out of 9, which accounts for a 78% success rate, baring in mind though that data is statistically insignificant (too few trades to get a good grasp of the real success rate).
Additionally, the software includes Market Watch Custom indicator, Session Profile Custom Indicator, $500 Trading Account Topup Bonus, and life-time updates.
It’s worth mentioning that IvyBot is very hands-off robot, meaning you don’t have to constantly tweak it. Nevertheless, it has adjustable settings which will allow you to increase the trading freqency quite easily (be careful, though, as the frequency may likely affect the success rate negatively).
What makes this Forex trading software interesting, besides the great record so far, is its focus on currency pairs – each pair has its own dedicated robot, as mentioned earlier in this review. This dedication gives a reason to believe in the robot’s ability to trade its pair with utmost success.
To conclude the review, here are some cold hard facts about IvyBot:
- Cost: $149.95
- Guarantee: 60 days 100% Money Back
- Currencies supported: EUR/USD, EUR/JPY, USD/CHF, USD/JPY
- Updates: Life-time free
- Average Profit Target: 15 Pips – 110 Pips
- Avg Stoploss Target: 60+ pips
ivybot can use with all broker,isn’t it?
Yes, well, any broker that supports Metatrader platform.
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it was my intention to buy ivybot. I submitted all requested information
including credit card number, expiration date and security number.
result: my informations are wrong and have not been accepted. I would like to know why
First of all, I’m just a regular guy who writes a blog sharing my opinion about Forex software and other related stuff. I don’t sell these programs, so there’s nothing I can help with your purchase.
However, as a buyer like yourself I know about the Clickbank payment issues. Usually they give you an error when your location doesn’t match with where your credit card is registered.
If all info is right, the best you can do is go to Clickbank (find the link at the bottom of the order page) and open a support ticket.
If you have Paypal you can try that, it usually works better.
Amazing how you knew that he was using Clickbank. You must be a mind reader.
Joe – IvyBot sells through Clickbank marketplace, all purchases go through Clickbank. He could not have used anything else.
Most Forex products can only be sold with Clickbank. This is because credit card processors do not like financially related products and especially Forex trading related products. Google is a good example of this.
I don’t think that’s true, Daniel. A lot of Forex related products sell through many different ways and often through credit cards directly (especially brokers). There’s nothing about Forex or financially related products that any payment processing company doesn’t like, it’s not gambling and doesn’t fall under a high risk group. Not yet at least.
There are many Forex companies that sell and accept credit cards but usually these companies are the big players. Forex does fall under “high risk” for many payment processors. Many payment processors do not like that Forex is regulated. And in their mind, if they process the payments, that would mean they need to be regulated also(Even if the individual product or company does not require regulation). There are many processors that will accept Forex related products but it is costly. That is why most of these products are sold using Clickbank. I have gotten this explanation from at least 12 different processors myself.
That’s interesting Daniel. I must say I’ve had that idea because I know PayPal seems to be OK with Forex, and they are pretty strict about the niches that fall under “high risk”. I certainly haven’t looked into how it is on a wider scale of processors.
Though I wouldn’t say Clickbank is the most used, probably just half of Forex products use it (if that). Another popular processor, for example, which is widely used in selling these products is Plimus.
Yeah, Paypal is so far ok with Forex but I heard that they will be cracking down on Forex products very soon and especially the brokers. Personally, I don’t like how a lot of these processors treat Forex because Forex is not gambling and is legal. Thanks for the tip on Plimus. I will be looking into them soon.
I looked into Plimus. Financial related products are actually considered prohibited with them. Here is what it says under the prohibited items section, “Financial Services or Advice, Securities Trading, Insurance, Currency Exchange, Trading Signals”. If what you said is true, I don’t know how these sellers are getting away with it.
That’s funny, I never looked into their terms since I don’t sell anything myself. But if you go to their product catalog (you need an account) and search for “forex”, there are currently 426 products.
Some broker do not allow hedging..can I use this EA
It doesn’t hedge automatically as far as I know, so that shouldn’t be a problem.
I GOT IVYBOT ABOUT 4/5 WEEKS AGO AND IT DOES SEEM TO WORK QUITE WELL I HAVE PLAYED WITH IT QUITE A BIT AND IT HAS MADE SOME MONEY FOR ME BUT SINCE WATCHING IT FOR HOURS ON END I FOUND THAT I DO TRUST IT HOWEVER I HAVE INTERVENED AND CLOSED OUT TRADES WITH PROFIT EARLIER BECAUSE I HAD LEFT IT TRADE A FEW TIMES ON IT’S OWN AND IT WENT FROM 40 PIPS UP TO LOOSING SO I THINK IT’S A GREAT PRODUCT AND I WOULD RECOMMEND IT. I WOULD LIKE TO KNOW IF THERE IS ANY WAY TO PUT AN ALARM OR HAVE IT TEXT ME WHEN IT MAKES A TRADE OR EVEN BUY SOFTWARE FOR THIS ? I KNOW YOU CAN HAVE IT TEXT OR EMAIL WHEN IT CLOSES THROUGH META TRADER BUT I WANT TO DO IT WHEN IT BUYS A TRADE ????
I have Ivybot and I first itrusted the signal and I trade live. And I place 2 big trades that week with that signal and they were losing trades for a lost of about 10K on eache trade, I have Megadroid as well and so far I only one trade I lost with Megadriod. I am Impress with it. Ivybot you need to do your home work before placing a trade.
ivybot is a money loser….i have run it in a play environment since 10/6/2009 during which time it has lost 47% of the initial capital of 5000usd…
i have used the default and recommended settings in the product documentation…
in no way whatsoever has it come close to fulfilling the wild claims of the ivybot website….
one release of its software (5.1) was a colossal disaster….i would not recommend ivybot for purchase…ivybot 5.2 has a ~100 usd cumulative loss – a far far cry from its preposterous claims on its website…emails to customer support result in glib and bland replies which usually arrive 3-7 days after being submitted….
I use the “scalper” settings and get about 1 trade per pair day. I only trade the EUR/JPY & USD/JPY. On demo (since 1-21-10) Ivybot has placed 31 trades. It has won 22 trades for a 71% win rate. (2 of the losses were by a couple of pips otherwise they would have won) An average win is $254 and the average loss is $298. Again, this is a demo account, but I am close to trying this on a live account soon. (
One nice thing I do like about Ivybot is the fact that the average loss it close to same as an average win. Unlike Fapturbo where 1 stop loss wipes out around 10 wins.
It does have a fixed TP and a dynamic SL, but they can be adjusted to your liking. I figure if it can maintain a 70% or even 65% win rate, Ivybot could be a soild money maker.
Stay out of it if you want to keep your money. I have tried it for a long time on an FXDD account and the only success it make is drawing the account to the bottom and on Forex Peace Army test you can also see what bad result this EA have.
The backtest are very nice and profitable the same as most of the EAs on the market but real life account is something else.
Also be avare if you use EA today when the market got more volatility you must increase the stop/loss about 2,5 times more.
I had ivy bot and its been a big loser. They say they would keep it constantly updated but I havent received any updates that improve its performance. Any chance of getting a refund under the breach of contract laws??????
I bought IVYBOT. I do not answer about my questions of the support center.