Is Winfastfx EA legit or a scam?
Winfastfx EA’s creator claims to have 10000 clients/partners, which, if true, is quite an impressive feat. Is Winfastfx EA legit or a scam? We find out throughout this article. We review the robot, its trading technique, stats, and user reactions to make a decision.
What is Winfastfx EA?
Winfastfx is an automated robot made by WinClub FX. The robot’s creator claims that this is just the product to get you to be a professional and successful trader. It runs on the MT4 platform and is compatible with ECN, standard, and low spread accounts. The creators of the robot recommend using an ECN Account in Icmarkets or Pro Account in tick mill. The EA works on five currency pairs, including EURUSD, GBPUSD, EURJPY, NZDUSD, and GBPJPY.
You can get access to these accounts in one of two ways. The first is through purchasing the bot. The bot’s retail price stands at $1538, but the creators have now reduced the price to $489 for a lifetime purchase. You can also get the robot at a special price of $185.
The second way to get the robot is by becoming a tester. You will have to register with one of their affiliates, and you can use the robot free of charge as you test it. The best way to get customer support is by filling a google form on the sales page, and they will get in touch with you.
EA Review: Winfastfx EA
The Forex robot seems to work with a time-limited strategy; after careful research, we found that it trades on H1. Winfastfx doesn’t mention what trading strategy the robot uses. All we know is that it doesn’t use grid, martingale, or arbitrage. This is peculiar because even the vaguest EAs give clues on the technique that they use. How would someone invest in something they have no information about?
Stats and User Reactions
We will first discuss the website. This is the shortest website I have seen so far. There is no factual information about the EA or how it works. There is mention of the price, but they don’t tell you what you get after buying it. Essentially, you are paying for something invisible. The trading technique hasn’t even been mentioned once on that sales page.
The bot’s backtest uses the 90% modeling quality on an H1 timeframe. The initial deposit was $1000 for this test. The drawdown was at 37.95%, an all-time high, but the profit factor is 3.57. Of all the trades, the backtest shows an average of 80% win. But remember, backtests aren’t an indicator of how the robot will perform in real life.
The sales page doesn’t have any live stats of real accounts from the robot, so we can’t analyze the robot. There are also no user reviews for this bot.
WinClub FX’s operations seem shady. The creators decided to provide us with no information but ask for exorbitant prices for the robot. We have no idea what the EA consists of or its trading techniques. There are no stats, even from a demo account. All we have is a backtest. This is a scam, and we don’t recommend investing with the robot.