Is ToborFX the Best MT4 EA for Passing Prop Trading Challenges?

Table of Contents

What is ToborFX?

ToborFX claims to be one of the world’s leading automated trading systems designed for the MT4 platform. This EA (Expert Advisor) utilizes a mean reversion strategy, which seeks to exploit the natural tendency of forex markets to revert to their average price over time. The robot is marketed as fully automated, offering stable returns with low risk, making it appealing for both novice and experienced traders.

How Does ToborFX Work?

ToborFX operates using a highly advanced and sophisticated mean reversion trading strategy. It identifies high probability entry points in the market and executes trades with the goal of closing them at average profits. The EA’s logic incorporates advanced lot sizing and money management techniques, based on extensive historical data analysis, to optimize performance. Additionally, ToborFX allows for customization of settings, enabling users to adjust the robot according to their personal preferences, interests, and risk tolerance levels.

Key Features of ToborFX

• Fully Automated: The robot is designed to work without manual intervention, making it user-friendly for traders of all experience levels.
• Advanced Strategy: It employs a mean reversion strategy, which focuses on high probability trades.
• Dynamic Money Management: The EA adapts lot sizes and manages funds based on historical data analysis, aiming for steady returns.
• Customizable Settings: Users can modify settings to match their risk appetite and trading style.
• Market Versatility: Designed to perform under various market conditions, including during high-impact news events.

Can ToborFX Help You Pass Prop Trading Challenges?

Many prop trading firms, such as those found in this list of forex prop trading firms, offer funded accounts to traders who can demonstrate consistent profitability while managing risk effectively. ToborFX’s focus on low-risk mean reversion strategies and its advanced money management could make it a viable tool for those looking to pass these challenges. However, it’s crucial to test the EA thoroughly in demo accounts or simulation environments before using it with real prop trading accounts. The robot’s performance should align with the specific rules and conditions of the prop firm’s challenge, such as drawdown limits, daily loss caps, and required profit targets.

ToborFX EA Plans: Which One is Right for Your Prop Trading Challenge?

ToborFX offers various plans designed to cater to different trader needs, ranging from beginners to seasoned professionals. Each plan provides access to the automated trading system, but the specifics such as license duration, number of accounts, and support levels can vary. Understanding these plans and choosing the right one is crucial for traders looking to utilize the ToborFX EA for prop trading challenges.

1. Basic Plan

• License Duration: 3 months
• Number of Accounts: 1 account
• Support: Standard support
• Best For: New traders or those testing the EA on demo accounts.

The Basic Plan is an entry-level option designed for those who are just starting with automated trading or want to test the EA’s performance. It offers a three-month license for a single account, making it a low-commitment choice for evaluating the robot’s effectiveness in prop trading challenges.

2. Standard Plan

• License Duration: 6 months
• Number of Accounts: Up to 3 accounts
• Support: Enhanced support with quicker response times
• Best For: Intermediate traders aiming to use the EA on multiple demo or live accounts.

The Standard Plan extends the license to six months and allows up to three accounts, offering more flexibility for traders who might be managing multiple prop firm challenges simultaneously. This plan also includes enhanced support, which could be beneficial if you encounter any issues or need assistance optimizing the EA’s settings.

3. Pro Plan

• License Duration: 12 months
• Number of Accounts: Up to 5 accounts
• Support: Priority support with dedicated assistance
• Best For: Experienced traders handling several prop trading challenges or running multiple strategies.

The Pro Plan is geared towards professional traders who require a longer license duration and the ability to operate the EA on multiple accounts. With priority support, users can expect faster resolution times and dedicated assistance, which could be crucial when working with real capital under prop firm conditions.

Which Plan Should You Choose?

Choosing the right ToborFX plan depends on your trading goals, experience level, and the specific requirements of the prop trading challenges you’re attempting to pass. For beginners or those testing the waters, the Basic Plan offers a low-cost entry point. If you’re more serious and managing several challenges, the Standard or Pro Plan may provide the additional account flexibility and support you need.

Is ToborFX Really the Best MT4 EA? Let’s try to find out…

ToborFX is marketed as one of the best MT4 Expert Advisors (EA) in the forex trading world, boasting features like verified past performance, high returns with low risk, and robust customer support. It claims to provide a stress-free, fully automated trading experience that removes emotional decision-making from the equation. But does it truly live up to its reputation? Let’s take a closer look.

Verified Past Performance

ToborFX highlights its winning track record through verified Myfxbook accounts, providing third-party verification of its performance claims. These independent verifications are crucial for traders looking for transparency and reliability in automated trading systems. Prospective users can explore these verified results to assess how the EA performs in various market conditions.

Live Video Proofs

In addition to verified results, ToborFX offers live video proofs of its trading performance. These videos are uploaded to their YouTube channel, showcasing live trading sessions where the EA reportedly multiplies profits. While these videos add an extra layer of transparency, it’s important for traders to remember that past performance is not always indicative of future results.

Customer Support and Installation Assistance

ToborFX emphasizes its customer support, offering various resources to help users set up and maintain their EA. This includes installation video guides, a responsive support team, remote desktop help, VPS (Virtual Private Server) recommendations, and regular updates with optimized settings. This level of support can be particularly beneficial for those new to automated trading or those seeking to maximize the EA’s effectiveness.

High Returns with Low Risk

One of the main selling points of ToborFX is its strategy, which is designed to deliver high returns while maintaining low drawdowns. This is particularly appealing for traders with limited initial capital, as the EA claims to perform well even with small account balances. The focus on low risk makes it potentially suitable for traders aiming to meet the strict drawdown requirements of prop trading firms.

Why Do Traders Trust ToborFX?

ToborFX promotes a straightforward setup process, including a video guide that walks users through the installation. This one-time setup is complemented by lifetime licensing, meaning users only need to install the EA once, without recurring fees or complex configurations.

2. Eliminates Emotional Stress

One of the biggest challenges in manual trading is managing emotions, which can lead to poor decision-making and significant losses. ToborFX aims to eliminate this problem by automating the trading process, allowing users to “set and forget” without the stress of monitoring trades constantly.

3. Proven Automated Strategy

The EA relies on a fully automated strategy that runs continuously, day and night, which ToborFX claims is more reliable than manual trading methods. This approach can be particularly advantageous for traders who lack the time or expertise to trade manually but still want to participate in the forex markets.

4. Low Capital Requirements

One of the notable features of ToborFX is its low capital requirement. With a strategy designed to minimize drawdowns, traders can start with as little as $20. This makes it accessible for those who are just starting out or prefer to test the EA with minimal financial risk before committing larger sums.

Does ToborFX Really Make Profits Every Day? Reviewing Their Proofs

ToborFX claims to deliver consistent daily profits through its automated trading strategy. To support these claims, the company provides various forms of proof, including MT4 trading history screenshots and live video proofs on their YouTube channel. While these evidences are designed to showcase the EA’s profitability, it’s essential to evaluate their reliability and relevance for traders, especially those looking to pass prop trading challenges.

MT4 Trading History Screenshots

ToborFX has attached MT4 trading history screenshots that highlight the EA’s daily profits. These screenshots serve as a quick visual representation of the trading results over a given period. However, while screenshots can offer a glimpse into the EA’s performance, they lack the depth and verification that third-party tracking platforms like Myfxbook provide. Traders should consider these screenshots as supplementary rather than conclusive evidence of the EA’s capabilities.

Live Video Proofs on YouTube

The company also provides live video proofs of ToborFX making profits on its YouTube channel. These videos feature real-time trading sessions, aiming to demonstrate the EA’s effectiveness in live market conditions. For traders, this can be a valuable insight into how the EA operates under different market scenarios. However, it’s important to note that these videos represent a selective display of trading days and may not reflect the full range of market conditions.

Key Considerations for Traders

While these proofs can be encouraging, traders should exercise caution and conduct their own due diligence. Here are a few considerations:

• Verify Through Independent Sources: Traders are advised to look for third-party verified performance metrics, such as Myfxbook, to corroborate the EA’s claims.
• Test in a Demo Environment: Before committing to real funds, it’s prudent to test ToborFX in a demo account to evaluate its performance and compatibility with your trading goals, including prop trading challenges.
• Evaluate Over Various Market Conditions: The EA’s profitability during certain market conditions does not guarantee the same results in others. A thorough evaluation across different market scenarios is crucial.

Frequetnly Searched Information About ToborFX

When it comes to trusting the profitability claims of ToborFX, it’s essential to rely on independent verification rather than taking the company’s word at face value. ToborFX encourages potential users to review their performance on Myfxbook, a third-party verification platform widely used in the forex community. This platform allows traders to see independently verified results, providing a more transparent view of the EA’s track record. Additionally, ToborFX frequently shares live trading videos on their YouTube and Telegram channels, offering visual evidence of the EA’s performance. These resources can be valuable for traders who want to verify the EA’s effectiveness before making a commitment.

Compatibility with Mobile Devices

One of the limitations of ToborFX is that it cannot be run directly on mobile devices, as the EA requires the MT4 or MT5 trading platforms, which are only compatible with PCs, Macs, or Virtual Private Servers (VPS). This might be a drawback for traders who prefer mobile trading. However, ToborFX does offer a solution by providing access to a VPS, allowing users to run the EA remotely and monitor it through their mobile devices using remote desktop applications. This approach ensures that traders without a dedicated computer can still utilize ToborFX effectively.

24/7 Operation Requirement

To function optimally, ToborFX needs to be connected to the internet and running 24/7 on the MT4 platform. This continuous operation is necessary for the EA to capture trading opportunities and respond to market changes in real-time. ToborFX addresses this requirement by offering a free VPS for the first month, helping traders maintain uninterrupted operation without incurring immediate extra costs. The idea is that profits earned during this initial period can help cover the VPS expenses moving forward, making it a manageable setup for long-term use.

Broker Compatibility

One of the strengths of ToborFX is its wide compatibility with Forex brokers that support the MT4 and MT5 platforms. This flexibility allows traders to use their preferred brokers without the concern of integration issues. Whether you are working with a new broker or an existing one, ToborFX is designed to operate seamlessly across different platforms, making it a versatile choice for a broad range of trading environments.

Drawdown and Risk Management

In terms of risk management, ToborFX’s historical data shows a maximum drawdown of 25-30%. This level of drawdown is within a reasonable range for many traders, balancing potential risks with returns. For those who are particularly risk-averse, ToborFX allows users to adjust lot sizes to achieve lower drawdowns, offering a customizable approach to trading risk. This flexibility can be especially beneficial for traders participating in prop trading challenges, where drawdown limits are often strictly enforced.

Minimum Capital Requirements

ToborFX is accessible to traders with various account sizes, accommodating both small and large investments. For those starting with a minimal budget, the EA can operate with as little as $20 in a cent account, making it a low-barrier entry into automated trading. For standard accounts, the recommended minimum capital is $1000 per pair, which aligns with more typical trading setups. This adaptability makes ToborFX suitable for a wide audience, from newcomers testing the waters to experienced traders managing larger funds.

APTF Verdict: Is ToborFX Worth Considering?

After reviewing ToborFX from a third-party perspective, it is clear that the EA offers several promising features for traders looking to automate their trading strategies. The use of third-party verification through Myfxbook and the provision of live trading videos add a level of transparency that is commendable in the forex EA market. The flexibility to start with a low capital requirement and the compatibility with a wide range of brokers further enhance its appeal, especially for those new to automated trading or exploring prop trading challenges.

However, the requirement to run the EA 24/7 on a computer or VPS might be a hurdle for some, and the potential drawdown of up to 30% suggests that while profitable, the strategy does carry risk that needs to be managed carefully. It’s also crucial for traders to conduct their own due diligence, testing the EA thoroughly in a demo environment before deploying it with real capital, particularly in high-stakes situations like prop trading challenges.

APTF Verdict: ToborFX appears to be a robust option for those seeking an automated trading solution with verified performance and flexible broker compatibility. It is well-suited for both small and large account sizes, making it accessible for a broad range of traders. However, its success will largely depend on proper setup, continuous operation, and careful risk management. For traders willing to invest the time in understanding and testing the EA, ToborFX could be a valuable tool in their trading arsenal.