Today’s review will be about the FX Automater company that designed many robots, including a Wall Street Forex Robot.
As we can see from the picture, it got a second version.
The EA was introduced as a robot that has one of the longest 3rd-party verified real account trading results.
The vendor mentioned that the package includes some free EAs on the board.
Wall Street Forex Robot: Characteristics
The robot, as another long-liver, has many cool features:
- The EA can be run on any broker.
- It works on an ECN account as well.
- We can run it on the Standard, Mini, and Micro accounts.
- It can be run on 4 and 5 digits accounts.
- The robot works with NFA-regulated brokerage companies.
- There’s a well-designed Money Management System.
- The EA received five built-in protection systems.
- The Broker Spy Module allows us to cover trades from high spreads, high slippages. It allows hiding SL and TP levels as well.
- The robot can be updated to get it upgraded. It’s useful taking into account the number of charts it can be attached.
- The Evolution version has increased profitability, but we have a concern about it.
- It received an improved Exit Trading Logic.
- The robot started trading more frequently.
- The EA can place Pending Stop and Limit orders.
- The Average win trade gets 10-15 pips.
We can see how the broker protection system looks like.
Currency Pairs, Strategy & Timeframe
- The Wall Street Broker uses scalping to generate profits.
- It trades the next symbols: EURUSD, GBPUSD, USDJPY, USDCHF, USDCAD, NZDUSD, and AUDUSD.
- It can open positions against trend moves only if there are high chances of reversal trading.
- The adviser performs low-risk scalping by following short and medium trends.
There’s a sheet with all robots’ settings.
Wall Street Forex Robot Trading Performance
As we can see from the chart, their statement about the most long term trading results is a lie. It’s a real AUD ECN account on IC Markets. The robot trades with 1:500 leverage on the MetaTrader 4 platform. It was deployed on December 22, 2017, and funded at 866 AUD. An average monthly gain is +2.75. The absolute account gain is +156.65%. A maximum drawdown was medium and amounted to 21.17%.
The robot traded 2644 deals with 8872 pips. An average win is 15.78 pips when an average loss is -41.88 pips (SL level). The win-rate is okay (77%-78%) as for a scalper. The average trade length is good (5 hours). It doesn’t keep trades for several days under different market conditions. The Profit Factor is low and equals 1.13.
There are three main symbols: EUR/USD, GBP/USD, and USD/CAD, but most of the profits have been brought by the first two.
The EA trades all day long with spikes of Asian and European market openings.
Weekly charts tell us nothing special.
The robot works with high risks to cover these three times higher losses.
As we can see, the trader decided to hide only TP levels. It won little number pips but lost many trades with -50 pips or more.
Trading results looked like they started to recover, but October messed everything up.
How much does it cost?
There’s a typical FX Automater offer. This one is $110 OFF and endless countdown.
The final price is $237. The package includes one paid and three bonus robots. We’re allowed to trade on a real account and unlimited demo ones. There’s a 60-day money-back guarantee.
Reviews from customers
There’s a page of Wall Street Forex Robot on FPA with a 2.85 rate based on 18 reviews.
As we can see, the person is disappointed because the robot trades little during a day with all trades turned on.
This comment had some pros and cons. Yes, trading with SL three times higher than the average level of the profitably closed deal is scary.
Everything the devs can tell about their robot performances is just to keep waiting (until the money-back guarantee is over).
This message tells us about a fraud-way to serve customers. If we buy a robot for the second time, there’s no money-back guarantee.
So, that is exactly what we said. Several good deals will end with a -90/-120 pips Stop Loss deal.
Should You Use The Wall Street Forex Robot?
|Real account trading results||No team revealed|
|A strategy is explained well||Little Profit Factor|
|Features are well-explained||Insanely high Stop Losses|
|Money-back guarantee||Trading results are not predictable|
|Much negative people’s feedback on FPA|
It’s never been a great robot. There were periods when it was good, sometimes “okay.” October 2020 shows that the robot runs with many lost deals comparing to the previous periods. The last 20 trades let us know that the win-rate is 50%, not up to 80% as it was before. There are many negative testimonials on the Forex Peace Army. Traders probably can be profitable if they’re able to customize EA’s settings. For now, Wall Street Forex Robot is not an option to go.