Expert AdvisorsForex

WallStreet Forex Robot Review: Things You Need to Know Before Investing

3 Mins read
3.7

The devs claim that WallStreet Forex Robot is a very profitable tool. Therefore, they believe that the EA can transform ordinary traders into self-made Forex winners. How true are these statements? Let’s find out in this review.

WallStreet Forex Robot was created by programmers working under FXAutomater, a company that mainly deals with developing trading products for the Forex community. The team is also composed of investors and traders purported to have been trading in this market for over a decade. 

WallStreet Forex Robot trading strategy

This EA focuses on low-risk scalping and follows short and medium-term trends. The system also protects every position through defensive stop loss orders, making it hard to lose an account in a sole transaction. 

WallStreet Forex Robot backtesting report

Backtest results for the GBPUSD pair
Backtest results for the GBPUSD pair

This strategy tester report tells us that the robot was tested for 11 years, specifically from January 2008 to April 2019. During this period, it conducted thousands of trades — 2610 using a deposit of $10,000. In the end, it attained a profit of $164,833.43 after winning 93.87% of the trades. The drawdown generated was low (14.98%), while the profit factor was 2.78. We had remarkable win rates for short (96.45%) and long positions (91.22%). The average consecutive wins were 16. 

Wall Street Forex Robot live results

WallStreet Forex Robot’s live results
WallStreet Forex Robot’s live results

At a glance you can see that the EA isn’t that profitable. Since December 22, 2017, it has only made a profit of A$1436.48. So, in a year, the account earns approximately $350. To date, the balance has grown to A$2302.58. Although the drawdown is not that high (21.17%), it could increase and eat away the capital further. 

Performance of trades
Performance of trades

There are 3362 trades with an average trade length of 4h 54m. Out of all the orders completed, 79% of the long positions and 78% short positions were won. These results are not extraordinary. We are also concerned about the EA’s high losing streak. This can be clearly seen by the average loss (-37.79 pips) that is nearly three times higher than the average win — 13.99 pips. The profit factor is 1.13 and highlights the low return rate of the EA. 

Account’s risk of ruin
Account’s risk of ruin

The system trades with medium risk. 

History of trading
History of trading

Different currency pairs were used to trade while applying fixed lot sizes of 0.07. Some of the losses made were somewhat high and enough to eat away the profits. 

Trades completed weekly
Trades completed weekly

The robot worked continuously from Monday to Friday. However, most of its activities were concentrated on Monday — 702 deals. 

Some features of WallStreet Forex Robot

Total return197.47%
Maximal drawdown21.17%
Average monthly gain2.34%
DeveloperFXAutomater
Created, yearN/A
Price$237
TypeScalping
TimeframeM15
Lot size0.07
LeverageN/A
Min. deposit$100-$500
Recommended deposit$1000-$5000
Recommended brokersAny MT4 broker or NFA regulated broker
Currency pairsEURUSD, GBPUSD, USDJPY, USDCHF, USDCAD, NZDUSD and AUDUSD
ECN Yes

Main things that make WallStreet Forex Robot unreliable

  1. Low profitability rate

Most of the traders who join Forex trading do so with the goal of reaping big from the market. Therefore, we believe that this EA is a bad choice because it makes peanuts. Therefore, it will not help you to achieve your dreams. 

  1. Poor risk/reward ratio

The robot’s risk/reward ratio (9:1) is worrying. This means that the strategy used takes many trading risks and doesn’t receive adequate returns as a result. So, you may eventually end up with a negative balance while using the robot. 

Pricing details

Wall Street Forex Robot is sold at a price of $237. By purchasing the EA, you will also get 1 real account, unlimited demo accounts, 24/7 customer support, and a 60-day money-back guarantee. Additionally, the vendor is offering WallStreet Asia, WallStreet Recovery Pro, and WallStreet Gold Trader as bonuses. 

WallStreet Forex Robot’s price
WallStreet Forex Robot’s price

Other notes

Going by the many customer reviews on FPA, it is clear that Wall Street is popular among Forex traders. Unfortunately, it has a bad reputation. Several customers have admitted that the EA isn’t lucrative. One of the customers says that it makes very small profits. Another one reveals that it can go for long periods without making profits, and when it does, the gains can be easily erased by one huge loss. 

Customer feedback
Customer feedback

WallStreet Forex Robot Summary

3.7
WallStreet Forex Robot is not for traders who desire to make substantial income in Forex. Its performance in the live market is bad. Although you can get some profits, they are small and inconsequential. Worse still, the gains can be soon rendered useless once the EA makes a wrong move that results in frequent losses. You may eventually end up with a pretty weak and worthless account.
6.0

Functionality

3.0

Reliability

3.0

Strategy

4.0

Price

2.0

Trading results

4.0

Vendor transparency

Pros

  • +There are backtest results
  • +Live trading stats are present

Cons

  • -Negative feedback from customers
  • -Poor risk/reward ratio
  • -Small earnings
  • -Worrying losing streak
Related posts
ForexForex Trading

Triangle Pattern Trading Guide: Trade Forex Successfully

4 Mins read
Trading patterns work as a tool for future price prediction for technical traders. Whether it is forex or stocks, the formation of…
ForexForex Trading

Butterfly Pattern Trading Rules: Easy to Earn

4 Mins read
Harmonic patterns are geometric patterns on the chart used to forecast future price movements, just like price action, Elliott wave, or any…
4.5
Expert AdvisorsForex

FxSecret Review: Things You Need to Know Before Investing

2 Mins read
FxSecret was established back in 2012 and consisted of experienced financial traders. The company produced an algorithm that implements three different strategies…

Leave a Reply

Your email address will not be published. Required fields are marked *

7 + 2 =