Robot Review: Wicor Forex EA

Today we are researching the robot the claims to be the best in the marketplace, Wicor Forex EA. The developers of the system claim that their product “is a dynamic software program that has the capability to perform within the trading portal – following the trader’s instructions but without his direct participation.” I believe this is just a fancy way of saying that it’s an automated system that has modifiable settings, like any other Forex robot in the market.

The developers are very clear and telling us that the robot can be used by any level of Forex trader, even beginners. You can find the company in Benzonia, Michigan, USA. We don’t have a full address but can wee that they are on Severance St and S Michigan Ave. As for email, they can be contacted at cs@wicorforexea.com. For a full list of robot reviews and ratings please go here.

Wicor Forex EA Details

Type: Forex Robot
Price: $169/1 license, $299/2 licenses
Strategy: Undisclosed
Timeframe: M30
Pairs: EURUSD, GBPUSD

Review

The Wicor Forex EA team believe that their robot is an irreplaceable Forex trading tool for this generation. They understand the difficulties of technical and fundamental analysis, so they want to give traders the opportunity to succeed without having to learn these elements. When you order the software you get access to free updates, a complete users guide with simple set of instructions and 24/7 support. I haven’t contacted the support team yet, so I’m not sure exactly how responsive they are but I do recommend traders who are interested in the software contact the support team before purchasing to see how quick they get back to you.

Results

Currently, there is one FXBlue trading account made available by the Wicor Forex EA vendor. This account is showing the weekly return of just under 10% and a monthly return of just over 45%. The EA has been trading for 68 days, so we can’t really speak on the long-term effectiveness of the software. It does seem quite common lately that robots are being released with one account after around 60 days of trading. Personally, I prefer somewhere between 4 to 6 months of trading history and on a much more reliable service like my FX book.

Over the 68 days, the EA is winning 72 to 76% of its trades and trades quite frequently. In the 68 days the robot has traded over 320 times which is extremely active. The majority of the wins are around 10 pips but there are wins that go all the way up to 70 pips, while the losses range anywhere from 10 pips to 160 pips. In looking over a few of the pages, the risk reward ratio doesn’t look that bad.

Conclusion

It’s obviously still very early, which makes it difficult to give any true conclusion on the Wicor Forex EA at this point in time. That being said, we will be providing a 3 star rating to start and then we will do our best to monitor real trader results and the vendor account to see how well they do over time. The testing process always becomes much more interesting when real clients start to post their results. This is when we truly start to see discrepancies that we can sink our teeth into.

Please feel free to leave your questions and comments about this product and my review now.