Grey Wolf trading robot works on the MT 5 platform and has little information available on its performance. The developer makes claims of providing 25% a month without any real proof that it will work.
Grey Wolf: Characteristics
You have to purchase the system through the MQL marketplace. After making a payment, the robot will be available on the MT5 platform. Log in with your credentials and download the expert advisor. Then, enable auto-trading and place the EA on the respective charts to begin trading.
The robot has the following features:
- Promises 25% gain per month without reaching a margin call
- Works with capital as low as $50
- Is available for updates from the developer
Currency Pairs, Strategy, and Time Frame
There is no good information present on the trading strategy of the system and the pairs it utilizes. The developer states the algorithm was made and tested for USD/CAD and AUD/USD for the 5 minute time frame. From the backtest chart, we can conclude that it uses some grid or martingale as there are frequent drops in the equity. The inability to explain the logic behind the working of the expert advisor states that it does not perform up to the required mark. Lack of transparency raises red flags for any trading system in the financial markets.
Grey Wolf Trading Performance
Unfortunately, the developer does not provide any proof of backtesting or live results that we can use to our advantage. As mentioned before, there is only a single chart that shows the equity and balance curve from 2019.01.07 till 2021.03.03. It seems as if there is a drawdown of around 30% during this period. The initial balance was around $1000, while the final was about $3500. However, we can not use these statistics as proof that it belongs to Grey Wolf. There are tons of charts that can be copied and pasted over that show good performance. It seems that the developer is not willing to back up his claims through live proof or even demo testing. The product might be flawed in this case.
On doing a google search we were not able to find live results on Myfxbook. The lack of proof shows that the algorithm does not work on real portfolios. The developer is trying to rip off customers by selling a robot that works only on demo.
How much does it cost?
Grey Wolf is available at the MQL marketplace for a price of $30. As you are purchasing a program through MQL, there is no money-back guarantee. For a system that has no transparency and verified records, the asking price is high. It should be available as a free product which anyone can download according to their liking. There are tons of similar algorithms that are available for zero costs.
Reviews from customers
There is only one rating present for the robot on MQL. The user didn’t leave any stars or comments on that. Even though there are five activations, there are any reviews from customers. There are also no reviews on noted platforms such as Forex Peace Army and TrustPilot. It shows that no one has purchased the system.
Should you use Grey Wolf?
Grey Wolf does not have enough proof to convince us that it is profitable. Furthermore, there is no transparency from the developer, which raises many red flags. Stay away from the robot if you love your hard-earned cash.
- Available on a noted platform, i.e., MQL5
- No money-back guarantee
- No results
- No transparency from the developer
Many robots claim to offer good monthly returns yet fail to provide evidence of profitability. Unfortunately, Grey Wolf follows that same suit, and there are many cons to the system, which makes it an unworthy expert advisor.