Wrenfx EA is an automated trading software that uses artificial intelligence and smart money management to ensure more profits. Although the pricing is beyond what we expected from a Forex robot like this one, clients will still have the possibility to change the registered account numbers. That means you can contact support and provide them with the account number that you want to remove and the one you want to register.
Our review will therefore help you make an informed decision as to whether or not this EA is worth joining the page of the best Forex EA services.
Wrenfx EA Review
The Wrenfx presentation is neat and on-point. The developer has a simple website with a quick summary of what the robot does and how it achieves its objective.
I do not know whether the product can live up to these promises until I see results. Since they have also provided a Myfxbook track record and some insights into their strategy, we can hopefully look at the statistics and determine the viability of this product.
The Wrenfx EA algorithm works with different techniques but precisely the general strategy is following the trend on higher time frames while looking for the reversal points on lower time frames for the entrance.
The aim of the Wrenfx strategy is to offer a smart money management technique that minimizes the risks involved in trading by taking into account the existing market conditions to ensure more profits.
While this strategy sounds interesting, the vendor needs to add more flesh on the bone to this description. We need to know how the expert advisor identifies a profitable trade and the approach it uses to recover from a losing one.
Having said this, we’ll look at the trading performance to evaluate Wrenfx EA’s performance in the long term.
There are 3 types of packages to choose from. Traders can pay a $299/18 months license for a Basic plan or a $399/24 months license for a Pro plan. The Basic allows for 2 accounts registration while the Pro goes for 3 accounts.
If they would like the Enterprise plan which is the lifetime license, they will get this for $499. Also, this allows for a whopping 4 account registrations.
Keep in mind that after payment confirmation you will receive an email that asks for your account numbers. Account activation typically occurs within 12 hours.
The Wrenfx EA is quite pricey compared to what most developers offer, even though the vendor allows you to change registered account numbers as you wish.
The Wrenfx EA has an active Myfxbook real account with a gain of +92.08%. The track record is verified and hosted on the CryptoRocket terminal.
While the monthly return is 16.19%, the drawdown is a whopping 47.70%. Wrenfx has completed just 67 trades where the average pips won in a trade was 18.42 pips and the average pips loss is -28.40 pips.
Although the result is not as expected considering the price tag, the vendor is more transparent and presents statistics in a very professional way.
This is unlike what we see in our recent reviews of AX Trader, DynaScalp, and other Forex robots, where developers are known to feel uncomfortable about their results and hide essential parameters.
We like the transparency in their presentations but the EA trading stats is not something to go by. Many traders are expected to buy from vendors with a better track record.
We applaud the vendor’s boldness but we are expecting them to tweak strategies as soon as possible if they wish to sell licenses in numbers. We will definitely watch this space in the coming months to see if the Wrenfx EA will actually make these results better.