Wrenfx EA is a robot that leverages the power of Artificial Intelligence. This EA has been developed using the MQL4 language and it works on the MT4 trading platform. According to the vendor, even traders with zero experience can use this EA without any issues.
How Wrenfx EA Robot Works
The vendor makes a detailed presentation on the official website, providing us with a short introduction to the system. All the main features are explained individually, following which the results for the backtests and live tests are shared. Finally, we have the pricing plans, an FAQ section, and a contact form using which you can send your queries.
We don’t have any information available on the vendor, which creates some serious transparency issues. Reliable EA vendors are always transparent when it comes to the company’s history and background. Since there is nothing mentioned about the parent company and we don’t know the identities of the developers and traders, we cannot consider it reliable.
Wrenfx EA is a fully automated EA that can run without human intervention. You can use a small balance of $200 to get started with this robot. It is easy to set this system up and you can use it with different account types, like micro, Standard, NDD, and ECN. The EA has been programmed with preset rules that allow it to manage multiple tasks that include adjusting the take profit and stop loss levels and sending orders.
As per vendor claims, the system takes the existing market conditions into account while placing its trades. It has a money management statement that allows it to modify the size of the trading lot according to the balance. Customer support is provided on a 24/7 basis and you can seek their help during the installation process. You can use this EA to trade in currencies like USD/JPY, EUR/CHF, USD/CHF, and EUR/USD.
This robot follows the trend on high time frames and looks for reversal points on lower time frames for making its entry. The vendor does not provide us with any more information about the trading strategy, and we don’t think this is sufficient. We would have liked to know about the indicators used by Wrenfx EA, and how it gauges the strength of a trend.
This backtest was conducted on the EUR/USD pair for the H1 timeframe. It started in January 2018 and continued till March 2021. After placing 296 trades, the total net profit generated was $454165.90. The EA had profitability of 89.53% for this backtest.
One thing that concerns us about this result is the high relative drawdown of 35.85%, which indicates a high-risk approach. There were 19 maximum consecutive wins and only 1 consecutive loss during this test.
Wrenfx Trading Results
This account on Myfxbook has been active since May 13, 2021, and to date, only 19 trades have been placed through it. Out of these 19 trades, 14 have been won by the robot and as a result, a total profit of $1506 has been generated. The daily, and monthly win rates for this account are 0.66% and 24.17%, respectively.
Apart from the short trading history, another thing to note about his account is the extremely high drawdown of 42.93%. No trader would feel confident about investing in a system with such a high drawdown, since it carries a significant risk of suffering losses.
Pricing and Refund
There are three plans for Wrenfx EA, namely Basic, Pro, and Enterprise. The prices for these plans are $299, $399, and $499, respectively. We think these packages are overpriced since there are highly reliable EAs on the market that are available at cheaper rates. For this product, the vendor offers a 30-day money-back guarantee.
There are user reviews for wrenfx EA on the web, which tells us that no people know about this robot as of now. The absence of user reviews combined with the lack of vendor transparency further reestablishes the fact that the EA suffers from a lack of reputation.