In today’s world of online trading, it’s not uncommon to find the internet over populated with Forex signals and services. Unfortunately, unethical marketers write many of these so-called reviews. Watchdog, although mainly known for exposing Binary Options scams, keeps an eye out for all traders. It’s for this reason we decided to take a closer look at the allegedly new & improved Wall Street Forex Robot 2.0 Evolution. Be sure to read our objective review carefully as we fairly examine this trending service from a trader’s point of view.
Is the Wall Street Forex Robot 2.0 a Scam?
Let us begin our WallStreet Forex Robot 2.0 Evolution review with the all-important question, is this another Forex Scam? In all honesty, although not 100% sure due to the virginal position of the 2.0 version – we don’t think so. This is a fairly new product, so in our books it still has to withstand the test of time, even though its predecessor did quite well in this regard. In the trading industry, time can be a deal breaker in terms of service continuity.
Another factor we had to take into consideration is that their website wallstreet-forex.com, genuinely lacked most of the common scam elements we see today. There is no pitch video with hired actors claiming to be professors, CEO’s or multi-millionaires. Additionally, there were no fake ‘’Limited Spots Remaining” countdown timers or ridiculous claims of becoming rich overnight simply by using the system for a few minutes each day. Moreover, the site was first registered in March 2011 when the original Forex Robot was released. This tends to leave room for a bit of confidence in terms of being a strong and well-established website.
Wall Street Forex Robot vs 2.0 Evolution
So what’s the big deal between the old versus the new? Well, we’ve done our due diligence here in order to correctly evaluate the possible potential to prospective investors. From what we have discovered by scouring the net for real user testimonials & feedback, it seems as though the original Wall Street Forex Robot did possess a few dissatisfied customers.
We had a quick look at user ratings on ForexPeaceArmy.com, a well-respected Forex forum and noted that out of 14 performance reviews; about 8-10 of them were generally good. The robot earned itself 3.207 out of a 5 star rating. Some users came back at a later stage and claimed that after conducting some back testing and trying different settings, they had substantially improved their profit earnings, thus upping their initial rating of the EA.
However, it appears as though the creators of the new WSFR 2.0 Evolution version may have considered these user complaints when updating their software. They allege to have kept the best elements of Wall Street Forex Robot by retaining the core trading principals while improving on its functionality. Here are some of the acclaimed improvements;
- Improved Exit Trading Logic
- Increased Trading Frequency
- Reduced Risk to Minimum Reasonable Levels
- Improved Profit Protection
- Possible Usage of Pending Stop & Limit Orders
As we stated earlier on in our review, we will have to wait and see if these are indeed true & whether or not the auto-trader can actually live up to its claims.
WSFR 2.0 Evolution Features
Wall Street Forex Robot 2.0 Evolution has listed some features that could be considered unique and maybe even worthy of a second glance. We have provided a quick summary of these below:
Broker Spy Module
By now it’s no secret that certain unscrupulous brokers often employ underhanded tactics against their traders in order to make some extra profit off them. These range from tampering with high spreads & slippage to delaying execution orders. WSFR 2.0 Broker Spy Module invisibly monitors your broker’s every move by alerting you to any kind of unfair behaviour a broker may attempt on your account. Almost like a scam intervention program.
High Spread Protection
The Wall Street Forex Robot 2.0 has been designed specifically for the most liquid, narrowest spread currency pairs. Namely the EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, and AUD/USD. Even though these pairs are generally in the 1-3 pips range, WSFR 2.0 protects you from surprising losses during periods of high market volatility.
Advanced Money Management
Many striving traders face an array of issues on a daily basis. Two such issues include lot sizing and drawdown. WSFR 2.0 offers the standard options of personally choosing fixed volumes in each deal as well as Risk Management with proportional lot growth. It also offers an advanced option, which allows you activate effective current drawdown compensation.
Broker Protection System
This feature has the ability to conceal your stop levels from unprofessional brokers. By activating the Stealth Mode to protect against broker stop hunting, stop loss & take profit levels will be executed within the software but will remain invisible to your broker. An emergency stop loss is placed with the broker to protect the trade against disconnection, but the Stealth Mode stop loss will be reached before the emergency stop loss.
What We Don’t Like About WSFR 2.0 Evolution
On the surface, it may appear to be an exceptional Forex Robot with no issues whatsoever. However, during our information compilation for this WallStreet Forex Robot 2.0 Evolution review, we still managed to jot down a few points we did not like about the software. For starters, we don’t like the fact that the user testimonials displayed on the site are faceless.
Understandably, some users may value their privacy and not wish to be splashed all over a commercial website. At the same time though, this makes our job of authenticating these testimonials as valid, nearly impossible. In this regard, WSFR 2.0 loses a point.
Furthermore, we do not really approve of the purveyor for this bot, FX Automater. There are some unsavoury rumours floating about the Forex community regarding them and the other products they offer such as Forex Trend Detector or Volatility Factor. Luckily for them we have not reviewed these products yet, although we may decide to do so soon.
What We Like About WSFR 2.0 Evolution
We do like a few things about Wall Street Forex Robot 2.0 Evolution. Most importantly, although the cost of the software is a bit pricey coming in at around $347, they offer a 60-Day Money Back Guarantee. The creators offered the same guarantee when they released the original system, and apparently, the few people that did request a refund actually received it without any hassles. This allows traders a certain peace of mind.
In terms of credibility, another point we like is the fact that this auto-trading software boasts one of the longest standing, fully verified MyFxBook performance on a real money account with Pepperstone, an AU-regulated Forex broker. Due to the fact that MyFxbook accounts is not something that can be faked, this is a serious plus factor for the Forex trading system.
Wall Street Forex Robot 2.0 Evolution Review Conclusion
In all fairness, this particular Forex robot seems to have both pros and cons. It is for this reason we have reached an inconclusive verdict in our review by neither blacklisting nor endorsing the software. We rely heavily on community feedback and with the bot still being relatively new, this is something we will have to wait on before deciding.
Review Verdict: Inconclusive
Official Site: wallstreet-forex.com
According to Alexa.com, Wall Street Forex Robot is currently popular in Australia, the USA, Singapore, Brazil and Russia among other countries.
Should you have any experience with Wall Street Forex Robot 2.0 Evolution version, we encourage you to step up and share it by commenting below. Your feedback will not only help us but also our community of over 10,000 subscribers in deciding whether to move forward with this Forex auto-trading software.
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