Frequently Asked Questions - Brightfield Labs Ultrabot v4.3

What is Brightfield Labs?
Brightfield Labs provides automated trading software designed to run on platforms like MetaTrader 4. The company develops algorithmic trading applications intended to automatically execute trades based on market conditions.

What products / services do you offer?
Brightfield Labs offers:

• Automated trading software licenses

• Setup and onboarding services

• Training to help users operate the trading system

• Ongoing access to algorithmic trading tools.

 
What is an algorithmic trading bot?
An algorithmic trading bot is software that automatically executes trades based on predefined rules, market indicators, and data analysis to generate profits.
 
How does the Brightfield Ultra Bot v4.3 trading algorithm work?
The platform uses automated trading strategies integrated with MetaTrader 4 to analyze market volatility and execute trades automatically.

 

Do I need trading experience to use the platform?
No prior trading experience is required. Many customers use the platform as a fully automated system, though understanding basic trading concepts can help you manage risk more effectively. There is a community and professional help available if needed. 

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What is the minimum investment size?
The minimum investment is $20,000US.

What markets does the bot trade?
Brightfield Ultrabot can trade any or all of:

• Nasdaq 100

• Gold

• Silver

 
Do I need to monitor the bot constantly?
No. The system is designed to operate automatically, though users are encouraged to periodically monitor performance and risk exposure.

What are the risks?
Like any investment, there is risk involved.  If the underlying asset experiences a prolonged decline, returns will be proportionately impacted 1.5x. The platform uses margin to profit from upswings at every price interval. A reserve fund equal in amount to your capital should be readily available, in case markets experience large price decreases and the account needs topping up. 

Do I need a broker account?
Yes. You must open an account with a broker that supports MetaTrader 4 to run the trading software. You cannot usually use the MT4 platform with your existing broker. 

 

How can one purchase your software?
You can purchase directly through the website’s product page, where software licenses and onboarding packages are available for purchase online. If you have questions, don't hesitate to book a demo or email us.  Once signed up, your onboarding video call will be scheduled to setup your trading platform.

What payment methods do you accept?
Payment and funding methods include:

• Visa

• Mastercard

• Paypal

• Wire/EFT

 
Do you offer refunds?
Yes we offer a 30-day money-back guarantee if you are not fully satisfied. 

Do you offer a free trial?
Yes you can test the bot on a demo account for 30 days. Click Demo from the main menu to get started. 

Is my data secure?
Yes, the website uses encrypted data transmission and SSL connections to help protect customer data and financial information.
 
Do you offer customer support?
Yes. Customers can access self-help manuals, guides, videos and tutorials, or request assistance through the website or channels or by email. There is also a community Whatsapp group.

Can I run on a demo account before purchasing?
Yes. Brightfield offers demo / consultation accounts, so you can see how the system works before committing. Click "demo" from the main menu to get started.

Do I need special hardware to run the software?
Trading tools run on a computer or a virtual private server (VPS) capable of running MetaTrader.
Most customers use a windows VPS, however the software can also run on Mac.

What is MetaTrader 4?
MetaTrader 4 (MT4) is a widely used trading platform that supports automated trading systems, or bots, called Expert Advisors (EAs).

Can I control risk settings?
Yes. the bot offers simple settings for:

• Position size

• Risk profile - conservative, balanced or high-risk

What are the broker trading fees?
The bot is designed to work with CMC Markets or Axi Global. They do not charge transaction fees, but will charge overnight holding fees near the bank rate. They also make money on a small bid/ask spread. These are both standard in the industry and widely exceeded by trading profits.  
 
What returns can I expect?
The platform has a targeted average return of approximately 4% per month, but actual performance may vary depending on market conditions and risk settings. The Ultrabot has achieved this target in both the past 2 years of live trading, and in back-testing to 2021. 

Do I keep control of my funds?
Yes. Your funds remain in your CMC or Axi brokerage account. The software only executes trades according to its strategy, it has no direct access to your capital.

What countries is this available in?
UK, Canada, Australia, South Africa, Turkey, UAE, Germany, France, Italy, Spain, Poland, Netherlands, Romania, Switzerland, Austria, Saudi Arabia, and more.  Not available in the USA.

Can the bot run 24/7?
Yes, almost. Markets are open 23 hours a day, 5 days a week. Many users run trading bots on a VPS so the system can operate continuously without interruption.

What type of strategy does the trading algorithm use?
A long-only trend following strategy with aspects of Martingale and dollar-cost-averaging. The algorithm employs adaptive position sizing and position spacing to minimize exposure during downturns, while still trading on a daily basis. Sophisticated capital and position management ensures your capital is safe while returns are accelerated.

What indicators or signals does the algorithm rely on?
The algorithm is developed to use a custom mean reversion and responsive exponential moving average indicator that has performed extremely well for the chosen assets across varying market types. 

Does the algorithm use AI?
No, the system does not use AI.  Trading rules are strictly followed with 100% accuracy.  AI introduces variability that is not suitable or safe for trading. 

What is the maximum drawdown over the last 5 years?

• Maximum drawdown - 47%

• Average drawdown - 1.5x underlying

• Recovery time - market dependent
   

What is the Sharpe ratio?
The Sharpe ratio is 2.1, the profit factor is 1.7.

Can the bot stop trading automatically during high volatility in major news events?
Volatility is generally positive for the Brightfield Ultrabot, as it generates new opportunities for profit. As as a user you can choose to manually stop trading during high volatility. If drawdown exceeds the safe threshold, the algorithm will automatically stop opening new trades until more funds are added, or prices recover. 
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What are the entry and exit triggers for trades?  Are stop losses used? 
Precise details of the algorithm are protected, but in general, trades are entered when a price rebound is detected and exited when the trend completes.  Profits are taken in predefined increments during the trend. 

Can the bot run on MetaTrader 5?
No, the software runs on MetaTrader 4 only.
 
Can the bot trade on currency pairs?
No, the bot is not designed to be used with currency pairs. It can trade Nasdaq, Gold, and Silver.

Is there a mobile app to manage trades?
Yes, the MT4 mobile app is available in Android and iPhone app stores.

Can I manually open or close trades opened by the bot?
Yes, you can perform manual open and close, stop loss, etc for new or existing trades.