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White Rose Fx is a new expert advisor developer for the MT4 trading software.
Their website whiterosefx.com was created in September 2020. They don’t have any client feedback at the moment.
We generally feel safer trading and investing with reliable service providers or at least a trading system with a reliable track record.
Meanwhile, this developer wants traders to know that White Rose FX makes “industry leading automated Forex tools” and the software is free to use on the condition that clients will sign up with their partner brokers.
Currently White Rose FX is working with ICMarkets and FP markets respectively.
Minimum deposit for IC Markets is $200 while FP markets requires $100.
The developer feels that their Forex expert advisor is able to grow both large and small accounts at a consistent rate.
They also claim that after years of use, they decided to freely release the trading system to the public.
The question is whether you will risk your deposit using this Forex EA.
Also, considering that we don’t have experience with the mentioned brokers, we do not know what trading conditions they offer and whether traders will be comfortable working with th
White Rose FX Review
The website of this developer can be accessed through whiterosefx.com.
They have a MQL5 profile that does not have any trading activitie or development milestone.
We also found a Twitter account with the White Rose FX brand. They are using this account to post screenshots of the EA’s profits.
It’s not a Twitter account buzzing with user activities since it has 37 followers only. We do not expect much.
Overall the website comes across as professional.
However, we wished the developer was more transparent with their name and trading experience since they initially claimed their software was in use until it was recently released to the public.
Trading Strategy of the White Rose FX EA
The developer describes this system as a high frequency trading automated software.
The system takes small profits from minor market deviations.
In addition to this, users should find weak trends with strong pullbacks or ranging markets with no upcoming volatility.
The developer recommends 1m timeframe though it can also trade effectively on other timeframes.
Features of this robot include adjustable lot size, adjustable signal strength for increased frequency of trading, stop loss in both currency and pip value, spread and slippage protection and 3 free lifetime licensed accounts.
White Rose FX recommends trading in a low spread account with fast execution.
We appreciate these details very much but the developer didn’t actually tell us how the strategy works.
They only described the kind of markets that their product can trade.
We would also want to know whether this system is entirely automated or not.
Currently the developer says users should “find markets” and in addition to having knowledge of the MT4 trading platform.
This is where the confusion is coming from.
White Rose FX EA trading results
This vendor does not have a track record at the moment so we expected them to provide the public with a link to their myfxbook account.
They also claimed that they were using this software before they thought of giving it to the public.
We were hoping to see what kind of results they got. Unfortunately this is not the case.
They do not have anything to back their claims of profitability.
Their Twitter account screenshots were less useful because we couldn’t verify the alleged profits.
We hope that this is something that White Rose FX will addressing in the future so we can go back and review them afresh.
Based on how they market this EA, one would expect some feedback from a couple of traders who have used this EA.
Apparently we couldn’t find this feedback. It simply means the product is very new.
Hopefully you can use the comment section as an opportunity to tell others what you think about this EA.
We are not going to recommend this EA at this time even if it’s for free considering that you will still use money to open a live account with either of the brokers.
This is because the trading strategy is not clear yet and results are nowhere to be found.
We wish to revisit this review in the future if the developer adds these things to their marketing.