Wrenfx EA Review: Does It Win or Lose?

Wrenfx EA is a Forex Expert Advisor powered by Artificial Intelligence. It has been created using the MQL4 programming language. The system is characterized by smooth trading management. It carries out various activities based on fixed rules that enable it to manage numerous tasks. These tasks include altering stop loss levels, finding profit levels and sending orders. The vendor does not really indicate the EA’s winning streaks or loss rates. So, we had to discover for ourselves through the review.

What is Wrenfx EA?

The EA features the following:

• Trades with EURUSD, USDCHF, EURCHF, and USDJPY currency pairs
• The recommended deposit is $200
• Fully automated
• 24/7 customer support
• Smart money management 
• 30-day money back guarantee
• User friendly
• Does not apply hedging or scalping trading strategies
• Free updates

Official Wrenfx EA Website

The Wrenfx presentation begins with introducing the EA as an adaptable versatile platform that is capable of improving the user’s trading experience. They then clarify what it is about, explaining its key features individually. Backtesting and live trading results as well as the available pricing packages are shared. Lastly, they provide an FAQ section, and a contact form which a trader can use to send their questions. 

The developers do not provide any background information or history about themselves or their company. This raises some serious issues pertaining to transparency. As a result, we could not ascertain their real identities, and this made us question their reliability. 

How Can We Use Wrenfx EA?

Wrenfx EA is fully automated. It works on the MT4 platform, and once downloaded and installed, the trader can begin using it. They only need to have a minimum deposit of $200. The trader can also use it in various account types including ECN, NDD, Standard and micro accounts.

Pricing and Refund 

Wrenfx EA has three payment options. The basic plan which costs $299 comes with 2 accounts and 18 months license. The pro package is $399 and it provides 3 accounts and 24 months license. The enterprise package is priced at $499 and features 4 accounts and a lifetime license. We believe that these packages are too expensive. There are other cheaper EAs in the market that are more efficient than this one. 

Trading Strategy 

The developers state that the EA applies a variety of approaches in trading. However, they are quick to note that the general strategy entails tracking the trend on high time frames. At the same time, the system searches for the reversal points on lower time frames to make an entry. Obviously, the vendor has not elaborated this trading strategy. They have failed to point out the indicators that the Wrenfx EA uses, and how it determines the potency of a trend.  

The EA traded on the EURUSD pair within the 1 hour time frame from January 2018 to April 2021. During this period it performed 296 trades attaining win-rates of 90.51% for shorts and 88.68% for longs. It was able to produce a total net profit of $454,165.90 for the user after depositing $1,000. 

The average profit trade which was $2,178.43 trailed behind the average loss trade which was $3,971.52. This highlights a risk of losing money invested. The profit factor was 4.65. The drawdown (169.40) was extremely high. This is very dangerous as the account risks making more losses. 

Trading Results

The screenshot above shows that the account has been able to grow the account’s balance from $5,000 to $6,744.75. As such, it has made a profit of $1,744.75, which is equivalent to a 34.89% gain. The daily profit is 0.63% and the monthly profit is 20.77%. The drawdown is 42.93%, and is huge. It represents a high-risk approach taken by the account. This is not good as the risk of losing money is elevated. 

The EA has made 22 trades, and has managed to attain win-rates of 66% for longs and 76% for shorts. These results are not promising. The profit factor is 2.13. The pips made are 194.1. The average win is 20.20 pips while the average loss is 21.52 pips. 

The EA has made 22 trades, and has managed to attain win-rates of 66% for longs and 76% for shorts. These results are not promising. The profit factor is 2.13. The pips made are 194.1. The average win is 20.20 pips while the average loss is 21.52 pips.

From the trading history above, it is evident that the gains from the account are small. It uses trailing stop losses. Neither fixed SL or TP levels are placed. The robot does not trade with a fixed lot size. 

 What Customers Say

User testimonials for this EA are absent. We searched the various Forex trading customer review websites like Forex Peace Army, Trustpilot, Quora and myfxbook.com and could not find any customer feedback. Below is a screenshot from Forex Peace Army that shows the EA has no user reviews yet: