WinFastFX EA is an automated software created by a new developer WinClubFX.com. This group is also behind the Winshooter EA, but this system is not as popular, and we will not be reviewing it until it is. The purpose of their expert advisors is to take away potential stress, and overthinking by providing robots that win. Today we will be providing a complete review and letting you know if this service is meeting the expectations of the Forex Robot Nation community.
WinClubFX just launched 38 days ago, on 2020-07-26 offering two automated trading robots. This is all we really know about the developer at this time though, as they don’t provide any details about who they are or where they are located. If they want to be taken seriously, they will have to add this information sooner than later. We want to verify who the developer of the software is, so that we can check their reputation and see if they are truly effective traders or not.
To get in touch with support, traders can email email@example.com or firstname.lastname@example.org.
WinFastFX EA Review
The WinClubFX team claim that their WinFastFX EA is being used by “more than 10,000 traders registered as our partners.” We feel they are using this number to make the software seem more popular than it is in reality. There is no way that this software is being used by that many clients. It’s probably being used by less than 100 traders if we had to be honest and guess the numbers.
We believe that very few clients are actually trading this software for multiple reasons. The first reason is that the software was just launched over a month a go. The second reason is that their main YouTube promotional video only has 150 views. Which means, that for every 1 view, they get nearly 75 clients, which makes absolutely no sense at all.
In order to be a best Forex robot, we require a certain level of transparency and honesty. The WinClubFX team is missing both of these elements, and making bold claims that simply don’t add up. These lies, in conjunction with their poorly designed website makes this seem like a scam, and that’s a word that we don’t throw around at all. The vendor really needs to clear all of this up if they want to be taken seriously.
There is no strategy explanation for the WinFastFX EA software. The WinClubFX team provide a strategy test, but no real detail about their overall methodology. This goes into the lack of transparency concern that we were mentioning in the last paragraph.
They do provide a strategy test, and from this we can see that the software trades the H1 timeframe on the GBPUSD pair. The strategy test also shows us the different parameters and what they’re set at by default. Here are the settings:
- Takeprofit: 50
- Stoploss: 20
- Maxorders: 10
- Trailingstop: 4
- Starthour: 9
- Endhour: 21
Based on these settings, we can see that the software uses a time restricted approach, where it trades 12 hours a day using a trailing stop. This really isn’t enough though, and we would like to see more actual information about their trading approach.
- Type: Forex Robot
- Price: Broker commission
- Strategy: Momentum, price action and key levels
- Timeframe: H1
- Pairs: EURUSD, GBPJPY, GBPUSD
For traders interested in the WinFastFX EA, it is available for “free.” In order to get access, traders have to sign up with one of four brokers, Tickmill, FBS, ICMarkets or XM Global. To qualify, traders have to sign up using a specific partner ID, so that the vendor earns a broker commission on every trade placed. So, while they advertise the software as free, it really isn’t.
There are no verified WinFastFX EA trading results. The WinClubFX team only provide a strategy test, and a YouTube video showing that test live in action. They do not use Myfxbook or any other statement sharing service to verify any of their trading results.
It’s really quite odd that this vendor is first launching their services in 2020, but looking like they are in 2010 in both results and website design. In order to compete in this market, vendors need to provide verified results. Strategy tests are an antiquated technique that can’t be relied upon. We have said as much in other reviews of MG Pro EA, Forex Cyborg and Bounce Trader EA.
We see no reason to recommend WinFastFX EA at this point in time. The vendor doesn’t provide enough information, and fails to verify any of their trading results. The WinClubFX need to prove that their software is viable before anyone signs up.
If you have anything you would like to add, please leave your comments now.