The Most Wanted EA is an AI-driven automated trading algorithm that can trade multiple symbols at any timeframe. According to the developer, the expert advisor uses vector machine learning with a combination of strategies to manage risk properly. The algorithm can work appropriately with all account types and doesn’t use any grid or martingale strategies. In this review, we will discuss all the features of the robot to understand its pros, cons, and profitability.
Vitali Kosov from Russia is the vendor of the EA, with 2 active product listings and 2 live signals on MQL5. He says to be the CEO of the telegram channel ‘Beast FX’. Other than this, there are no certifications, legit official websites, and information on his whereabouts. Clients can only contact him through his email address or via his telegram handle.
PS: The Most Wanted EA is an automated trading robot with 13 years of backtesting records and a live trading signal. Still, the backtesting report is merely a screenshot, and the number of deals on the live account is too small to evaluate trading quality. Meanwhile, the best Forex robots apply tried and tested strategies to trading. All the same, technical and fundamental analysis of the markets is recommendable.
The Most Wanted EA Review
Even though the developer provided information on vector machine learning and artificial neural networks, he failed to provide good insight on how this EA will use OpenAI technology to analyze the market and accurately predict entry and exit points.
The drawdown is low, but the trading results are very new to make the traders invest in this system. The Most Wanted EA comes with the following features:
- The expert advisor doesn’t use the grid or martingale strategy.
- It can trade XAUUSD, EURUSD, and EURGBP at any timeframe.
- The EA uses artificial intelligence in combination with risk management strategies.
- The robot can work on MetaTrader 4 (MT4) and MetaTrader (MT5) trading terminals.
The Most Wanted EA Trading Strategy
The algorithm does not use grid or martingale strategies but uses vector-based machine learning and Artificial Neural Networks. The vendor also mentioned the OpenAI system, but this time around, they failed to explain how this concept can help us find profitable trades and limit risk in the complex fx market.
You may have seen software developers like Uni Bot EA that claimed artificial intelligence for automated trading, but in the end, it all turned out to be worthless with numerous bad reviews. The Most Wanted EA is not the first to sell us the dream of an AI-driven trading system, and we are not convinced that this robot is a unique addition to the list of AI trading software.
From one of their trading accounts, we discovered that the robot does make use of strict trade exit formula and trades mostly on XAUUSD. The lot size can fluctuate with each trade.
EA Breakdown
- Type: Forex Robot
- Strategy: Artificial intelligence
- Timeframe: Any
- Recommended pairs: XAUUSD, EURUSD, and EURGBP.
- Price: from $2000
- Terminals: MT4 and MT5
The Most Wanted EA comes with a one-time price of $2000 for a lifetime license, and $999 is asked for a yearly rental offer. A 3-monthly (at $349) and a 6-monthly (at $599) are other rental options. There is also a free demo option provided on the MQL5 website, which can be used to test the performance of the robot before the final purchase. The developer didn’t mention any refund policy in the presentation of the algorithm.
Backtesting report
The developer shares a single pair backtesting results of the Forex EA. The longest report shows 13 years of historical data between 2010-2023. The stats consist of 421946885 ticks with a history quality of 99.00%. The system made 2561 trades, of which 2550 were winners, and 11 were lost. The relative drawdown can be seen as 17.04%, and the profit factor was 47.87. The backtesting records were not provided properly as there is no detailed statement.
Trading Results
There are two live trading accounts of the EA available on the MQL5 platform. Both accounts were started less than 2 months ago. The longest-running account started trading on 2023.01.13 and has been live till today. With an initial amount of $300, the system performed 91.7% profitable trades with a profit of $14.14. The robot places 3 trades per week, and the average holding time is 24 hours.
The system showed a gain of +5%, with a profit factor of 1.38 and 1:500 leverage. It participated in 12 trades, out of which only 1 trade is a loss. The average profit of the algorithm is $4.68, and the average loss is -$37.34, which does not look promising. To see the latest live verified trading account performance of popular forex robots please visit the best forex robots page.
The maximum drawdown value of the robot is 11%. The trading frequency of the robot is shady as 80% of overall growth was achieved on the last 1 day while the robot has been live for 42 days. This type of inconsistency in trading shows a poor working methodology of the expert advisor and a red flag.
The Most Wanted EA Review Conclusion
The Most Wanted EA is an automated trading robot with 13 years of backtesting records and a live trading signal. Still, the backtesting report is merely a screenshot, and the number of deals on the live account is too small to evaluate trading quality.
There are no live trading results available on reputable third-party websites like myfxbook.com, and the developers are not keen to provide any explanation on the topic.
The Most Wanted Expert Advisor
$2000
Pros
- Performance result
- Easy to use
- Multiple symbols
- Low drawdown
- Signals performance
Cons
- No verified result
- High pricing
- Few results stats
- New trading accounts
- Shady win rate
- Vendor has no experience in the market
- Strategy insight is lackluster