Worthy FX TRADER (EA) Reviews | Dangerous!
Worthy FX TRADER is a grid trade EA.
Although it is not a famous EA, it has a total profit of 164%, a monthly profit of 24.8%, and a maximum drawdown of 8.9%. Great result.
Such a great result is posted on sales sites such as FOREX STORE, so some people may have been interested in this EA.
Basic information of Worthy FX TRADER
- Number of real licenses：2
- Number of demo licenses：2
- Currency pairs： EURGBP
- Recommended deposit：$100~$150
- Money back guarantee：Unknown (probably none)
$ 109 is cheap in EA.
But it is not worth buying unless it is a good EA.
Live performance of Worthy FX TRADER
The result of the forward test is published on FXBlue.
As stated at the beginning, it is a very wonderful result considering only the numbers of 24.8% monthly profit and 8.9% maximum drawdown.
However, the release period is from October 24, 2018 to March 1, 2019. It ’s pretty short.
Even half a year has not been continued.
Since there are only 31 total trades, it is very dangerous to trust this good result.
Trading features of Worthy FX TRADER
This is a grid trade EA that does not use martingale.
Since it is a typical grid trade EA, there is no doubt that it is a high risk.
If the price moves backward from the direction of the position, it opens an additional position and keeps waiting for the price to reverse. If the price does not reverse, there is a risk that a large loss will occur.
It has the feature that an additional position is opened with a Pips interval of about 15-20pips and a maximum of 3 positions are taken.
On the other hand, the buy position on the right side of the screen is closed with breakeven even with no profits, without opening any additional positions.
It seems that the logic of adding a position is not simple.
This EA will be entered in Contrarian where prices seem to have gone too far.
There are many grid EAs that make random entries, but Worthy FX TRADER will judge entry points carefully.
It can be said that the entry point is good.
However, even if the entry point is good, an EA without risk management ability is very dangerous.
It is not clear where this EA will end the trade if the price continues to move in the opposite direction of the position.
Danger of Worthy FX TRADER
The result after March 2019 is terrible
The results of two forward tests are published on the vendor’s sales site.
One forward test, as already mentioned, was very good, although it was short in duration, from 24 October 2018 to 1 March 2019.
However, the forward test published from March 25, 2019 to July 31, 2019 is very bad.
The total profit is about -60%, and the maximum drawdown is about -80%.
Just looking at this result, you can see that this EA is not worth using.
EURGBP pair is unstable
EURGBP is a very unstable pair.
Recently, the price movement has become very rough due to the confusion of BREXIT.
It is very dangerous to use EURGBP currency pairs especially for grid and martingale EAs.
No trust in vendor！
The developer of Worthy FX TRADER is suspected of selling multiple EAs pretending to be another person.
The following is a list of suspicious EAs.
In particular, Z Trader FX EA has recently attracted attention with a high profit margin.
However, please note that Z Trader FX EA is also a very high risk grid EA. It’s no wonder that your account is destroyed at any time.
Looking at the sales site, I think that the developers of Z Trader FX EA and Worthy FX TRADER are the same person.
But he is trying to hide it. It can only be said to be dishonest to users.
Grid trading has the characteristic of not losing for a certain period of time. However, there is a risk that the loss will be so great that the account will be destroyed.
Perhaps this developer is trying to keep selling, taking advantage of the fact that many grid EAs will not lose for a certain period of time.
However, it is unlikely that these EAs will continue to make profits.
Conclusion of Worthy FX TRADER
Considering the following points, it is not recommended to purchase this EA.
- It is a high risk grid trade EA.
- The results after March 2019 are very bad and not worth using.
- Vendors are trying to sell multiple grid EAs in a way that is close to SCAM.
The bad thing is that these developers create another EA and sell it again when the EA Forward results go bad.
Perhaps in this industry, this type of scam will last a lifetime.
We must continue to pay attention to them.