Wicor Forex EA is a robot built for the MT4 trading platform and promises more than 74% returns on investment. It uses the martingale technique and the M30 timeframe. The robot trades two currency pairs (EURUSD and GBPUSD). The EA is said to be versatile and can be used by any level of forex trader, from beginner to expert levels. It comes in two packages. The exclusive package sells for $169 and consists of one real and one demo accounts. The Pro package sells for $299 and consists of two real and three demo accounts.
The trading results provided by the vendor are from www.myfxblue.com and it shows a trading period of 126days only. The robot placed 713 trades, won 527 and lost 176. With a deposit of $1,800, it gained extra $7,665.56. But in May 2017, it lost $9,465.05, thereby, blowing the account. Since then, there has been no active trading in the account.
Such results are indicative of forex robots that use very risky strategies. The Wicor Forex EA developers promised excellent results, but seem on early inspection to have failed in their mission. So the question is: should you trust the Wicor Forex EA? Wicor Forex EA: To Trust or Not to Trust?
Even from the trading proof presented by the developers, there are obvious signs that this robot is not trustworthy. In addition, there are other reasons why this EA should not be trusted. The reasons are presented below:
- Inactive Trading
- No Back tests
- Developers Identity
- User Reviews
- Website Unavailability
- Inactive Trading with the Robot
Though most forex traders will only accept verified accounts from www.myfxbook.com, let us use the trading results provided by the vendor from www.myfxblue.com. The account shows a trading period from Jan 15th to May 14th 2017. The robot made good trades until May, when the account was blown and everything was lost. Since then, there have been no activities in the account. Most vendors would have updated the robot, created a new trading account and resume trading. But, the robot and the trading account have remained dormant. This shows that the Wicor Forex robot could not sustain profitability.
- No Back tests
- Developer Identity
- Negative User Reviews
- W ebsite Unavailability