MiloBot PRO Review: MT4 vs MT5, Signals and Drawdown

MiloBot PRO trades Forex reversals through three sequential stages: initial entries, locking and averaging. Both MT4 and MT5 editions expose controls over lot sizing and spacing, but the public account evidence linked by the developer is MT4.

Assessment: the configurable multi-pair approach may appeal to traders who understand basket exposure. The central concern is the gap between profitable closed trades and much weaker equity: the current signal has substantial floating losses, while the older cent account has experienced very deep drawdown.

View MiloBot PRO MT4 pricing · View MiloBot PRO MT5 pricing

MiloBot PRO MT5 cover — CheaperForex promotional artwork based on the original product identity; not a software or performance screenshot.

Developer source link: Official MQL5 product listing
Live signal link: Current Weltrade MT4 signal

Three stages, growing account exposure

The source describes proprietary reversal indicators followed by locking and averaging logic. Lock distance and step count, the second strategy’s take profit, averaging-lot multiplication and minimum spacing are adjustable. These controls influence how much additional exposure is accepted when the original idea has not yet paid off. A hedge does not remove spread, swap, margin or eventual exit risk.

Automatic sizing is described as 0.01 lot per 25,000 account units in Low mode, 20,000 in Medium and 15,000 in High. These units require care on cent accounts. The developer’s $200-cent/$20,000-standard recommendation is not a loss limit. Multiple charts and related pairs can draw down together.

MiloBot historical trading dashboard — Original historical dashboard illustrating positions, margin and spread. Its displayed build label is not the supplied-version promise. Retrieved 17 September 2026.

Weltrade signal: growth and floating loss tell different stories

Observed 17 September 2026: MQL5 signal 2379641 is a real MT4 account on Weltrade-Live at 1:500. Its displayed account history is 12 weeks, beginning 27 June; that is not the same as 12 weeks of continuous public monitoring. The page showed 185.72% growth, 283 trades, a 66.07% win rate and profit factor 2.40.

Maximum relative equity drawdown: 56.42%; relative balance drawdown: 13.65%.
Initial deposit $1,000 plus $4,000 additional deposits; no withdrawals.
Balance $6,962.10 versus equity $4,569.95: about $2,392.15 of floating losses.
Equity was $430.05 below total deposits despite $1,962.10 of closed profit.
MQL5 blocked subscriptions and displayed a warning about current drawdown.

MiloBot PRO Weltrade MT4 signal — Genuine MQL5 capture, 17 September 2026: MT4 real account, 185.72% growth and 56.42% maximum equity drawdown. Subscription blocked because of current drawdown.

The growth percentage is not a simple dollar return on all deposited cash. Deposits change capital at risk, and closed-profit figures omit open losses. Average holding time was about 14 days, so this is not simply a series of short, quickly resolved scalps. Neither this MT4 account nor its figures prove equivalent performance from the MT5 build.

Older Myfxbook account: long history, much larger drawdown

The developer-linked Myfxbook account is labelled Real (USD Cent), Markets4you, MT4, with a title referring to a November 2019 launch. At this check it showed +3,085.89% gain and 90.77% drawdown, with equity at 73.69% of balance. Its cent-account label matters: displayed monetary amounts must not be presented as equivalent standard US-dollar capital.

The long record offers more historical context than the newer signal, but its deep drawdown contradicts any assumption of consistently low risk. The product gallery below shows an earlier snapshot with lower historical figures; it is retained as dated source material, not passed off as the current account.

MiloBot historical Myfxbook chart — Older developer gallery showing earlier Myfxbook figures; current account drawdown is discussed separately. Retrieved 17 September 2026.

Backtests and old screenshots need their own labels

The gallery contains a historical pair-by-pair table, an earlier MT4 cent-account signal and an MT4 EURUSD M15 tester report. The developer also linked a downloadable archive of per-pair reports in public comments. These historical tests were not independently reproduced here, and adding individual pair returns does not establish a portfolio return or its combined margin requirement.

MiloBot historical pair test table — Developer historical per-pair backtests, not a current portfolio forecast. Old pair restrictions shown here are not necessarily current settings. Retrieved 17 September 2026.

MiloBot earlier MT4 signal — Developer gallery of an older MT4 cent-account signal, not the current Weltrade signal. Retrieved 17 September 2026.

MiloBot MT4 historical tester report — Original MT4 EURUSD M15 historical test displayed in the MT5 gallery. It is not an MT5-specific forward test. Retrieved 17 September 2026.

The old table marks some pairs temporarily inactive. The current live distribution includes EURJPY, so that old annotation is not a reliable current instruction. Similarly, historical screenshots showing other build labels do not define the version supplied today.

MT4 versus MT5: which evidence belongs to which edition

MT4 was published in December 2022; MT5 followed in April 2023. MT5 release notes document order-filling fixes and additional money-management flexibility. Both editions later exposed soft-stop control. That is not evidence of a guaranteed account loss cap or immediate liquidation of every position. Broker conditions, account mode and presets still need testing for the chosen platform.

MT4 release notes · MT5 release notes. Public setup replies advise separate charts per pair and checking the spread filter or Experts log when the EA does not trade.

Customer reviews: praise with practical reservations

MQL5 showed four MT4 reviews and five MT5 reviews when checked. Michael Arthur Schorr’s MT4 feedback is favourable overall but explicitly flags grid/martingale concerns and asks for better guidance on drawdowns. That is a useful counterweight to the sales claims.

MiloBot MT4 customer feedback — Genuine MQL5 customer-review capture, 17 September 2026. Third-party opinions, not CheaperForex purchase ratings or independently verified returns.

On MT5, watju reports a positive early experience and responsive support; Cazz223 urges modest sizing. A March 2024 reviewer describes roughly 25% drawdown while raising a sizing question, and an October 2025 reviewer asks for more documentation and contact. These are individual historical experiences, not verified current results. They are kept separate from CheaperForex purchase ratings.