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Expert Advisors Reviews

WallStreet 2.0 EA Review - Is it scam or reliable forex trading system?

In this review we will showcase the wallstreet-forex.com automated trading system. You may have recently heard about them and be deliberating an investment. Be sure to read this review before making an informed decision. 

It is worth mentioning, the company was offering different services in the past, which we have previously reviewed. This article will be based on their 2.0 services.



The full package offered by wallstreet-forex.com contains three expert advisors. In terms of strategy they offer three different ones:

The Forex Robot 2.0 Evolution appears to be a scalper. Whenever you operate such a system, you carry the risk of dishonest broker behavior – increasing spreads, adding slippage and so on. The company claims they have set up multiple protection mechanisms, meaning the EA is coded in such a way that it dose not open trades when conditions are unfavorable. 

The Recovery 2.0 seems like a martingale bot. As you may know this is highly dangerous. Such systems perform well, until the market suddenly moves sharply in one direction. Martingale basically enters the market against a move, hoping for a retracement. If the move continues, the system adds more to the position. This can result in small profits, in case the currency pair does return to the previous levels or in big losses (usually the entire account) if it never does. Enormous one-directional moves do occasionally occur in the forex market, most often when a central bank decides to change its monetary policy. 
The Asia 2.0 system is a “night scalper”, much like the Forex Real Profit EA. It attempts to trade the small range-bound movements, occurring during the Asian session. This is yet another tricky system, which works on paper, but is highly broker-sensitive. Slippage, re-quoting and the normal widening of spreads which happen during this time of the day are this strategy’s nemeses. 
Overall the wallstreet-forex package contains all of the possible risky systems: a scalper, a martingale-ish trader and a “night scalper”. The risk mostly lies in your broker’s willingness to accept these kind of system and from a big market move.

Historical Performance

The wall-street forex team has set-up multiple trading accounts at myfxbook. They are all verified, which does inspire trust. For the purposes of this review we will look at the combined performance of all strategies, as illustrated in this account, which is traded with Alpari
The account has earned the impressive 55% in just under 10 months. That being said there is something troublesome with the system’s account – few, but relatively big loosing trades are being closed. This may imply that all of the strategies have a certain martingale element built-in. This is easy to spot in the following chart (note the few but large yellow down bars):
WallStreet system profit 
Another key concern is the high drawdown. It stayed over 20% for around the turn of the year, spiking over 25% at some point. With the system having a martingale element in it, this is not particularly surprising. Keep in mind, other systems, such as the iQuantFX have much lower drawdown.
WallStreet system drawdown

We come to an even bigger issue with the system, the pips per trade value. It is slightly under 2 for the account combining all strategies. This number is far from pleasing – in our opinion 3 is the minimum you should ever settle for, with 5 being a much safer bet. For instance the SFE Price Action EA has an impressive pips/trades value of 8.1.
The pips/trades criteria is so important to us, because it is indicative of the probability of replicating the system’s past performance. Some brokers do not like automated traders, who attempt to trade in the matter of seconds. They are viewed as “abusers of the liquidity pool” and are often treated by being given worse execution conditions. This in effect nullifies the system’s edge.


The combined price for all systems is $347.  However if you stay for long enough on their website, you get an offer for $287. 

Bottom line

Our final opinion on the wall-streetforex.com system is quite negative. The service basically combines almost all of the strategies which generate “toxic order flow” to your broker. This means they will be more likely to change your account’s trading conditions in such a way to make you quit. Furthermore, the system has a martingale-ish element to it. The average pips/trades value is low, which is to be expected with an automated scalper. That being said, the system may work out for you, but it will be highly dependent on your broker and the appropriate market conditions. 
TAGS: wallstreet  wallstreet 2.0  wallstreet 2.0 review  wallstreet 2.0 scam 
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec, FCA MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Australia ASIC MT4, MT5,
$200 Review Website
Seychelles FinaCom MT4, Web $10 Review Website

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