Wicor Forex EA Review

Wicor Forex EA is a robot built for the MT4 trading platform and promises more than 74% returns on investment. It uses the martingale technique and the M30 timeframe. The forex robot trades two currency pairs (EURUSD and GBPUSD). The EA is said to be versatile and can be used by any level of forex trader, from beginner to expert levels. It comes in two packages. The exclusive package sells for $169 and consists of one real and one demo accounts. The Pro package sells for $299 and consists of two real and three demo accounts.

The trading results provided by the vendor are from www.myfxblue.com and it shows a trading period of 126days only. The robot placed 713 trades, won 527 and lost 176. With a deposit of $1,800, it gained extra $7,665.56. But in May 2017, it lost $9,465.05, thereby, blowing the account. Since then, there has been no active trading in the account.

Such results are indicative of forex robots that use very risky strategies. The Wicor Forex EA developers promised excellent results, but seem on early inspection to have failed in their mission. So the question is: should you trust the Wicor Forex EA?

Wicor Forex EA: To Trust or Not to Trust?

Even from the trading proof presented by the developers, there are obvious signs that this robot is not trustworthy. In addition, there are other reasons why this EA should not be trusted. The reasons are presented below:

• Inactive Trading
• No Back tests
• Developers Identity
• User Reviews
• Website Unavailability

Let us examine these reasons in details

1. Inactive Trading with the Robot

Though most forex traders will only accept verified accounts from www.myfxbook.com, let us use the trading results provided by the vendor from www.myfxblue.com. The account shows a trading period from Jan 15^th to May 14^th 2017. The robot made good trades until May, when the account was blown and everything was lost. Since then, there have been no activities in the account. Most vendors would have updated the robot, created a new trading account and resume trading. But, the robot and the trading account have remained dormant. This shows that the Wicor Forex robot could not sustain profitability.

2. No Back tests

For a robot to be widely accepted in the forex trading world, it must have undergone years of back tests before launching into the market. The Wicor Forex EA vendors provide no back tests results for this robot. The only trading results provided were just for four months which is grossly insufficient for any trader to draw conclusions on the profitability of the EA.

3. Developer Identity

The developers of this robot are located in Benzonia, Michigan in the United States. They only provide an email and no phone numbers or complete office address. This is unacceptable to most forex traders. No one wants to risk his money with the numerous anonymous forex robot scammers on the internet. If they were genuine, what stops them from providing their correct identities and channels of communication?

4. Negative User Reviews

Generally, there are no user reviews for this robot. But, we found one on www.forexrobotnation.com and the customer gave a negative review.

5. Website Unavailability

The official website of this robot: www.wicorforexea.com is currently unavailable. Does this mean that the robot is now defunct?

 

Conclusion: The Wicor Forex EA is Not to Be Trusted

The Wicor Forex EA is a robot to avoid as it cannot be trusted. Even the vendors failed to prove its efficiency. It seems that the robot is no longer being sold as the website has been inactive for almost a year. Traders are therefore advised to watch out for other clones of this software which may emerge.