Wild Side is an FX robot that operates mainly as a night scalper. As per the developer, this MT4 tool does not use dangerous approaches like Grid or the Martingale methods. He claims that every order comes with an SL and a TP position. Due to the unique algorithm that this EA uses for tracking transactions, the developer claims it to be profitable and accurate.
Marat Baiburin is the developer of this FX EA. Published on the MQL5 site on 2 April 2021, the ATS is in version 1.81 with the latest update done on 5 August 2021. Baiburin is based in Russia and has developed two products, 9 signals, and 1090 demo versions. The developer can be contacted via the MQL5 site, via Skype, or through the email address provided on the site. He does not provide a location address or phone number for contact.
Vendor transparency is very important when it comes to choosing the right FX trading tool. Transparency indicates the dependability of the vendor and the product. Other factors that help decide on the trustworthiness of a product include factors like performance, trading approach, and more. To know how to select the best FX robot, visit our best Forex Robots list. You will find it easier and quicker to make your selection and profit from it.
Wild Side overview
From our initial evaluation of this FX robot, we find that the developer does not divulge much about the automated system. Some of the aspects he focuses on include the following:
- Important features of the EA including the special algorithms it uses
- The settings of the system including the currency pairs. Lot size, and timeframe used
- Vendor recommendation on the type of account, the leverage, and more.
- A few backtests are present to show the performance of the EA.
From the minimal info present, it is clear that the developer does not wish to reveal further details on the system. This raises our doubts regarding the reliability of the ATS.
As per the developer, the price of this FX EA is $189 up to 17th August beyond which it will be sold at $349. Rental options are present for the system with the one-month rental costing $69 and the 3-month rental costing $129. There is a free demo offer too. No money-back guarantee is present. The lack of a refund guarantee indicates that you cannot rely on the system. Further compared to the price of competitor systems, the EA is overpriced.
How it works
This FX EA uses a proprietary algorithm based on the price action along with the indicator of the author. The developer claims that the ATS does not need a news filter and that it uses a unique algorithm for tracking the transactions.
A timeframe of 5 minutes is used for this EA and it works on 9 currency pairs namely EURCAD, EURUSD, EURCHF, AUDUSD, CHFJPY, USDCAD, GBPUSD, EURAUD, and USDCHF. Some of the recommendations of the broker include an ECN or RAW account with a low-ping VPS and the leverage starting from 1:50. The minimum deposit needed is $50 to trade the lots of 0.01 lot size.
The developer does not mention the trading approach used other than indicating the price-action -based algorithm used in the EA. We find the absence of strategy and its explanation disappointing. This indicates the lack of transparency concerning the approach which raises our doubts about the dependability of the EA.
A demo EUR account using the BDSwiss broker and the leverage of 1:1000 on the MT4 platform verified by the myfxbook site is shown here.
From the trading stats, we can see a loss of 0.04% is present for the account with the daily and monthly percentages being 0.00% and -0.01% respectively. For a deposit of €10,000.00, the account that started in April 2021 has completed 20 trades with a 50% profitability. The profit factor is 0.69 and the lot size used is 0.03. From the stats, it is clear that the EA is using a high-risk approach that has resulted in a loss in such a short duration.
We found 24 reviews for this FX EA on the MQL5 site. While most of the reviews are positive, they still mention the low trade frequency which can be an issue with many traders.