Wrenfx EA requires no experience from the trader’s end and works with a minimum deposit of $200. It does not use hedging or scalping strategies and works on all different types of accounts. The company presents the robot in a lucrative way to convince novices and amateurs. After doing a deep analysis, we are able to understand the real performance of the system.
The developers do not share their coding and trading experiences. We do not know who is behind the developing program. On choosing the best trading robot, you should always check out the trading experience of the people who are behind the program. If the company fails to provide any transparency, then it should raise some red flags.
Wrenfx EA Features
Wrenfx EA has the following features:
- A fully automated system that works with all types of accounts
- Installs and sets up in minutes
- Uses smart money management to balance risk
- It comes with 24/7 support
The robot takes into account the existing market conditions to tweak the risks involved in trading. According to the developers, it offers better profitability.
The robot is available with three different packages, i.e., basic, pro and enterprise. They come for $299, $399, and $499 for 2,3 and 4 accounts, respectively. The licenses’ duration also changes with each.
The price is relatively high considering.
How it works
The developers will send over the ex4 and the recommended set files, which you will have to place in the designated MetaTrader folder. Enable auto trade and place the robot on the respective chart to begin trading.
The developer states that the expert advisors look for trends on a higher time frame and at the same point use lower periods for reversal points to get an entry. Wrenfx works on EURUSD, USDCHF, USDJPY, and EURCHF with a minimum deposit of $200.
There is no other information present on the topic, which raises some concerns over the authenticity of the system. The trading history on Myfxbook shows that the robot uses risky strategies such as grid and martingale to profit. It has an average trade duration of two days which states an intermediate approach between swing and day trading.
Trading records are available on Myfxbook, which shows performance from May 13, 2021, till the current date. The robot has an average monthly gain of 20.51%, with a drawdown of 42.93%. This high percentage of drawdown means that the robot loses a significant value of the account before turning in any profits. The robot has a winning rate of 72%, with a profit factor of 2.09.
The drop in equity is prominent from the image, which is generally the case with the systems that use grid and martingale strategies. To maintain a linear upward curve on the balance chart, these robots continue to open positions in the same direction to profit.
Wrenfx EA has no customer reviews available on any platform, which means that the expert advisor is relatively new and is not tried out by traders. It also states that market players might be afraid to utilize the system due to its high drawdowns. As we have no feedback, we cannot judge if the EA is profitable.