WaveRunner Forex Robot is another automated trading system by the Forex Robot Trader team. This is one of their earlier creations, so it’s not as popular anymore, and which is why it’s being sold for just $49. It’s advertised as a robot that “uses a special combination of zig zag theory to find loads of automated pips.” Today we will be providing a review, looking at the trading results, and letting you know if this is worth your time.
This robot is owned and developed by ForexRobotTrader.com. They are a very popular development team, but in recent years, they appear to be more focused on marketing, than development. This may have something to do with their creator passing away a few years ago, but it’s a frequently discussed topic in the market. Their systems don’t seem to be updated as often, and are struggling with current market conditions. This can be said about multiple products they offer, including the Odin Forex Robot, Vader Forex Robot and Falcor Forex Robot. That being said, the systems are all still selling very well, which makes it important for us to continue our analysis of each.
In order to get in touch with support, traders can create a ticket in their kayako contact platform.
WaveRunner Forex Robot Review
The WaveRunner Forex Robot sales page is a bit different from the FRT’s newer products, as it doesn’t have as much detail. There’s an about section, a features section and a trading results section. We will uncover each of these elements as we make our way through the review.
There are four images of the software in action at the top of the page. Each image shows a much simpler chart presentation and overlay than the newer products. Based on these images, you can definitely tell that this is one of the first products they released, if not the very first product. This does not mean it is not effective, but it does mean that it’s an older strategy that likely hasn’t been updated in a very long time.
In order to compete for best Forex robot status, developers have to stay on top of updates and ensure their systems are effective in the latest market conditions.
Surprisingly, the WaveRunner Forex Robot strategy explanation is pretty solid. They provide information about the ZigZag indicator, and how it works with the Elliot Wave Theory in order to provide profitable trading opportunities.
Although when it comes to utilizing the strategy, it becomes significantly more difficult. We say this because the vendor gives us three different timeframes to work with. This means that there is a lot of work required on the trader’s side to test the system. While we have no issue testing, we do find that testing multiple timeframes can be very difficult. Especially when you already have to test different pairs, settings and more. This makes the learning curve longer than we like, but it’s not uncommon as you can see in our recent reviews of Multi Strategist EA and FX Blaster Pro.
- Type: Forex Robot
- Price: $49
- Strategy: Zig Zag & Elliot Wave
- Timeframe: M30, H1, H4
- Pairs: Any
At $49, the WaveRunner Forex Robot is priced to sell. Yet, that doesn’t mean that this MT4 compatible EA is worth the investment. As it usually does, this will come down to the trading results to determine how viable it is moving forward.
When it comes to ForexRobotTrader.com products, the trading results is always where we take issue. Sadly, it’s no different this time around with the WaveRunner Forex Robot.
According to the website, this robot is averaging over 2000 pips per month and over $20,000 in profit for years. To prove this, the FRT team provide us with self-hosted trading statements. The problem with these statements is that there are hundreds of clients claiming that they are fabricated. These same clients say that they can never achieve the same results. This can happen, as robots are tools and as traders get better with those tools, they will have a better performance, but that’s not enough in this case.
When other vendors are called out in this manner, they simply upload their results to Myfxbook to verify them. The FRT group has never provided any verified results and fails to do, despite all of their competitors moving in this direction. This is a major issue.
While we appreciate the effort put forward by the FRT team, we can’t recommend the WaveRunner Forex Robot at this time. All we ask for, is to see some verified results on Myfxbook and we will be happy to change our review. Until then, we won’t be using any of the ForexRobotTrader.com robots.
If you have anything you want to add to the review, please do so now.