WrenFX EA is a trading solution that was published not so far ago. The presentation is short and avoids giving us much information about the system. The main statements are “Artificial Intelligence-powered Forex Expert Advisor. Customized and versatile platform that enhances your Forex Trading experience.”
Vendor Transparency
The company has almost no transparency. We have only real account trading results. The owner decided not to provide information about the team to be sure that it’s possible to get refunds. We don’t know if they have the proper Forex experience to design an accurate advisor.
How WrenFX Works
All information was grouped in nine blocks and featured with short explanations.
- The advisor can work automatically for us on the terminal.
- The money-management system calculates Entry Point, Stop Loss, and Take Profit levels.
- We may start trading without previous trading experience.
- The system is a simple trading solution to deploy.
- The advisor fits the next account types: ECN, NDD, Standard, Micro, and Mini.
- The robot “performs different activities based on preset rules to manage all the assigned tasks right from sending orders, adjusting stop losses and finding profit levels.”
- The system doesn’t trade Scalping or Hedging.
- The developers mentioned that it doesn’t use Grid and Martingale as well.
- The robot knows to decrease drawdowns.
- The vendor sells the system with 25/7 support.
Timeframe, Currency Pairs, Deposit
- Probably, the system works on the H1 time frame.
- EURUSD, USDCHF, EURCHF, and USDJPY.
- We have our balance to be more than $200.
Trading Approach
It runs a no-name strategy. We don’t know what indicators are behind it. The system uses a trailing stop loss feature with discussable success.
Pricing and Refund
There are three packages provided: Basic, Pro, and Enterprise. The Basic pack is the cheapest – $299. It includes two real accounts, an 18-month license, free updates, and 24/7 support. The Pro package cost a bit higher – $399. It has three 24-month licenses. The Enterprise package costs $499. There are four lifetime licenses, free updates, and 24/7 support. Click2Sell is an official reseller.
Trading Results
There’s a EURUSD report on the H1 time frame. The modeling quality was 90.00% with 20 pips spreads. An initial deposit was set to $1000. The final balance has become $454,165. The profit factor was 4.69. The maximum drawdown was 33.96%. The system closed 296 orders. The win rate was 90% for Shorts and 88% for Longs.
The robot manages a real USD account on the CryptoRocket broker automatically with 1:500 leverage on the MT4. The account has a verified track record. The account was deployed on May 13, 2021, and deposited at $5,000. Since then, the absolute gain has become 43.69%. An average monthly gain is 21.67%. The maximum drawdown is insane as well – 42.93%. It’s such an unfriendly level of drawdowns. The developers mentioned that the system knows how to cut them off. Six traders track the trading results.
There were two periods of significantly high drawdowns.
The advisor executed 26 deals with 230.3 pips. It’s a quite low trading frequency. An average profit is 20.13 pips when an average loss is -21.73 pips. The accuracy rate is 66% for Longs and 76% for Shorts. We don’t know why these numbers of the accuracy rate vary that much. An average trade length is two days. The Profit Factor is 2.18.
The system opens trades on EURUSD, USDCHF, EURCHF, and USDJPY. USDJPY is the most traded cross pair – 9 orders.
We have a short data period. So, we don’t know much about the favorite hours for the system to trade.
Monday is almost not a trading day.
The system runs the account with a quite high risk to the balance.
It’s another deal with a Martingale lot size that sits in drawdowns.
The system uses trailing Stop Loss with Grids and Martingale at the same time.
June 2021’s profitability doesn’t look that good.
People say that WrenFX is …
Good. WenFX owns a page on Forex Peace Army. The system doesn’t have comments about itself that could help us to understand what we’re looking at. Most likely, there were a few downloads.
Verdict
| Pros | Cons |
| Backtest reports provided | No team details provided |
| Trading results revealed | No settings explanations provided |
| Risky strategies are on the board | |
| A young trading solution | |
| Lack of customer feedback | |
| We are not sure about the possibility to get refunds |
WrenFX Conclusion
WrenFX is an all-new trading advisor that works with four pairs. The trading results showed that the system uses Martingale almost all the time, sitting in huge drawdowns. It will be able a key reason for blowing the account in the future.
