Wild Side is offered on the MQL5 site. It is created by Marat Baiburin who is from Russia. He does not have a lot of trading experience. Since there is no info about his trading history and background, vendor transparency is compromised.
Baiburin has released only two products on MQL5, which are the MT4 and MT5 versions of this software. Wild Side was released on April 3, 2021 and last updated on 5th August, 2021. The Forex robot has 1264 demo downloads.
It has both live results as well as backtesting results so that traders can verify it on forward and historical tests. In this review, you will get to know more about this Forex robot so that you can decide if you should invest in it or not.
Features
Wild Side works on both MetaTrader 4 and MetaTrader 5 platforms. The developer claims that Wild Side places stop loss and take profit levels for every open order. It offers customers “its own price action algorithms in combination with the author’s indicator.” Plus, the mode used is “Every tick based on real ticks.” The vendor asserts that it has a unique tracking algorithm for transactions, but there is no explanation about how it works.
It does not have much information, including the trading strategy it uses. This makes it hard to analyze its profitability, which experienced traders pay attention to. Wild Side trades in various currency pairs, including USD/CAD, EUR/CHF, CHF/JPY, GBP/USD, AUD/USD, EUR/AUD, USD/CHF, EUR/USD, and EUR/CAD.
Some of the main features of this EA are:
- Automatic trading.
- Comes with a user guide to use it appropriately.
- Great to use with low spread ECN brokers.
- Does not employ risky trading approaches, such as martingale and grid.
- Both fixed and dynamic lot size.
- Runs the charts primarily at night.
- Follows FIFA rules.
- Calculates lot sizes automatically.
- Does not require a news filter.
- Works on different time frames.
- The trade length is more than one hour on an average.
How to start trading with Wild Side
Wild Side does not have an official site and is offered on the MQL5 site. The seller has provided a small explanation of how it works, its settings, and some recommendations, along with backtesting report screenshots and live trading account links.
Some of the recommendations include:
- Should be used on RAW or ECN accounts
- Minimum deposit of $50 per pair with a lot size of 0.01
- Should have a VPS with low ping
- Minimum leverage of 1:50
- Some settings can be changed, like increasing or fixed lot size, magic number, minimum balance required to augment the lot, etc.
Wild Side EA is offered for $149. There is also a free demo for trying it out. However, there is no refund policy for this trading tool.
Backtests
There are backtesting results for all the pairs on which the EA works. Here, we have analyzed its report for the EUR/USD currency pair that has a timeframe of 5 minutes. It took place from May 2003 to April 2021 for 18 years with 4985 total trades and $1000 as the initial deposit. The account earned $9068.05 in profits with a 2.02 profit factor. It had a modeling quality of 99.90% with 7.55% as the maximum drawdown. This shows us that the drawdown and profits were low.
Unverified trading results of Wild Side
Even though Wild Side had a verified trading account on Myfxbook, it does not function anymore. Maybe the seller removed it to hide their poor trading results. Therefore, we scrutinized its unverified trading results on the MQL5 website. The account was started on 18th March, 2021. It has boosted its investment by 20.71%.
The account has earned a profit of $20.45 with a deposit of $98.25. It has finished 247 trades till now with 67.61% profitability and a 1.64 profit factor. The average gain is $0.31 with -$0.40 as the average loss. This shows that the trading tool has a low return rate. Its short trades also show poor performance at 30.36%.
Customer reviews
Wild Side has 77 customer reviews on MQL5. Most of these reviews are positive and the negative ones mention its low trade frequency. However, we cannot trust these reviews since they are not on a trustworthy third-party site.
Is Wild Side a viable option?
Advantages
- Fully automated trading system
- Available at the renowned MQL5 site
- Backtesting results provided
Disadvantages
- New trading tool
- Lack of vendor transparency
- No verified trading results
- Poor performance
- No money-back guarantee
Wrapping up
Wild Side works on both MetaTrader4 and MetaTrader 5 terminals and claims to offer steady gains. However, when we analyzed its performance, it came out to be an unreliable expert advisor with low trading frequency and high risks.
Plus, there is not much information about the strategy used, which deters traders from investing in it. We cannot trust the vendor since we don’t know much about him as well. Thus, Wild Side is not a reliable trading system and we do not recommend it.
