Waka Waka EA review 2025

Investing options

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What can I do with Waka Waka?

Waka Waka is an expert advisor (EA) that lets you trade the forex market automatically. The Waka Waka forex expert advisor works similarly to other auto traders. You can connect it to your forex brokerage account and adjust its parameters before trading live. The EA only works with brokers that support MetaTrader 4 (MT4) and MetaTrader 5 (MT5). 

The Waka Waka EA uses a grid system to exploit market inefficiencies. This essentially means the robot places numerous orders above or below a set price, creating a grid of orders. The EA is based on a combination of technical indicators, including the RSI and Bollinger Bands. 

What accounts does Waka Waka offer?

Waka Waka is a forex expert advisor (EA). Expert advisors are automated trading systems which you can use to trade the forex market. The Waka Waka forex EA can be purchased for a one-time fee without incurring any monthly subscription payments. 

Products, markets & assets

What products and assets can you trade on Waka Waka?

Waka Waka is a forex EA, which means you can only use it to trade the foreign exchange market. The exact number of pairs it will work on depends on what your broker has available; however at the very least, it can be used with all major and minor pairs. 

The developer of the forex robot, Valeriia Mishchenko, recommends using AUD/CAD, AUD/NZD, NZD/CAD, as these give the best results. 

What leverage trading options are there?

You can use the Waka Waka EA with both high and low leverage. Its developer recommends 1:300, but it will work the same on lower numbers, such as 1:30. 

What are the spreads?

Waka Waka does not charge spreads itself. When you use the EA in combination with a forex broker, you may be charged a spread. The spread you’ll pay will depend on which broker you’re using. The developer of the EA has tested it with various brokers and below, we’ve included the minimum spread for each one.

Waka Waka trade sizes and limits

You can use the Waka Waka forex expert advisor with micro lots and standard lots. The EA’s creator has tested the forex robot with various brokers and states any position up to 1 lot is generally fine and does not encounter slippage. The Waka Waka EA can be used with forex prop firms with large lot sizes. 

Forex

What forex pairs can be traded on Waka Waka?

Waka Waka is a forex trading EA and can be used with any currency pair. The EA’s developer, Valeriia Mishchenko, recommends using the forex bot on the AUD/CAD, AUD/NZD, NZD/CAD pairs for the best results. Here’s a look at a few other currencies you can use Waka Waka on.

What are the minimum spreads for trading forex?

The minimum spread for trading forex using the Waka Waka EA depends on the broker. If you use one of the developer’s recommended brokers, spreads start from as low as 0.1 pips. 

Deposits & withdrawals

Can I deposit money with Waka Waka?

No, Waka Waka is a third-party software which you can integrate with your MetaTrader brokerage platform. You do not have to deposit any money with Waka Waka itself, but you will have to deposit funds with your chosen broker. The deposit and withdrawal options will vary depending on your brokerage platform. 

Fees & costs

How do Waka Waka fees work?

Waka Waka can be purchased for a one time fee and has no recurring charges. This means you can buy the forex EA and load it onto your charts immediately. When you use the bot you will have to consider brokerage fees, including spreads, commissions, and rollover among others. 

How much is a Waka Waka subscription?

There is no subscription to pay when using Waka Waka. The forex trading EA can be downloaded for a one time fee and you can use it immediately without paying any monthly charges. 

Platforms & usability

What devices can I use Waka Waka on?

The Waka Waka EA can only be set up using a desktop or laptop computer. Once you have purchased the robot you will be able to download it to your MT4 or MT5 platform and this can only be done using a computer. When you have loaded the EA to your trading platform, you’ll be able to use it on any device.

Desktop trading platform

When you first use the Waka Waka forex EA you will need to use the desktop version of MetaTrader. The easiest way to use the robot is on desktop, as that’s where you’ll gain the  most functionality and control over how the system works. 

Unlike other expert advisors, Waka Waka is completely customisable and its developer has purposely given control to users. This means you can play around with parameters to find the optimal settings for auto trading. 

Key features

Back testing

Waka Waka has been back tested using tick data over the past twenty years. In addition, back tests have included variable spreads, improving the results’ quality and reliability. It’s unclear if back testing accounted for commission, which is something you should be aware of if you use a commission-charging broker. 

Verified results

Not only does the Waka Waka forex EA have a strong amount of back testing behind it, it has over 5 years of MyFXBook verified results on a live account. These results show the EA has generated over 6600% returns in that time period.

Most importantly, drawdown has been managed well, which means the robot appears to steadily generate returns.

Fully customisable

Waka Waka is a fully customisable EA that lets you change or adjust any of its trading parameters. This means you’re in full control over risk and other settings. You can play around with its pre-set functions and adjust to suit your requirements. For example, you can easily turn off that feature if you don’t want to trade around news. 

Safety & reliability

Is Waka Waka safe?

Yes, Waka Waka is one of the safest EAs on the market. Its verified trading results and, importantly, low drawdown mean it is quite safe compared to similar bots. There are a few things to be aware of before using it such as its grid system entry method. 

This type of entry style can be quite unsafe, especially if conditions are not optimal; however the EA’s verified results suggest grid trading has not been an issue in the past. 

Customer support

Waka Waka has excellent customer support functions and once you buy the EA you’ll have easy access to its developer. There is a dedicated Waka Waka Telegram group where the developer is on hand to answer questions and provide updates. You will also have direct access to the developer via email.

What are the risks of using Waka Waka?

Like with any EA the main risk of using Waka Waka is losing money. While the robot has a history of verified results, it’s important to remember that past performance does not guarantee future success. Market conditions can change and the algorithm that powers the EA could stop working. Here’s a look at a few of the main risks associated with Waka Waka. 

• Past performance is no guarantee of future results. Waka Waka has over 5 years worth of verified MyFXBook results showing gains of over 6600%. While that is impressive, you should always remember that the EA could stop performing so well at any time. 
• Grid system could result in lots of losing positions. The EA uses a grid system for entering trades. This means it places lots of orders above or below a set price at increasing or decreasing intervals. Grid systems can easily backfire, especially when conditions aren’t optimal. 
• Drawdown could be high. During back testing and over the past 5 years, Waka Waka has managed to control drawdown to acceptable levels. This could change at any time, especially if conditions change or the algorithm stops performing so well. 
• It uses martingale. Martingale is a strategy where you double your bet after a loss. The aim is to recover the previous loss and turn a profit. The strategy assumes you will eventually win and cover all losses. However, this is very risky and can lead to significant losses if not managed correctly. 

Research & analysis tools

What trading tools are on offer?

The Waka Waka forex robot has a wide range of tools and features that make automated trading quick and easy. With the EA you’ll have access to all of its features, including an auto trading facility, risk management tools, MetaTrader integration, and more. Here’s a look at a few of Waka Waka’s key tools.

One chart load

Waka Waka works with the MetaTrader platform, both 4 and 5. This means you’ll be able to take advantage of the one chart load feature, which allows you to load the EA onto one chart but can use it across multiple pairs. Not only does one chart load make it quick to set up, you wont have to worry about your trading platform slowing down. 

Risk management

The Waka Waka trading robot has been designed to be fully customisable. One of its best features is setting your own risk parameters. This is a top way to scale as you become more confident with the system. You can start with low risk and slowly increase it once the robot starts delivering profits. 

Auto Trading

Waka Waka is an EA that automatically trades the forex market. Its developer uses a combination of technical indicators and grid systems to identify and trade market price inefficiencies. With a VPN, you can have the Waka Waka trading EA running around the clock, so you’ll never miss a signal or trade. 

Education & learning resources

What educational resources are on offer?

The Waka Waka forex EA has a wide selection of educational resources available to help you get set up and use the robot. On the Waka Waka homepage, you’ll find tutorials and guides explaining everything about the system. There are lots of videos and PDFs so you have a good choice.

Set up guide

Waka Waka has a PDF document consisting of over 70 pages explaining everything about the EA in detail. Here you’ll find the steps to set up the robot, how to adjust settings, and more. The guide is highly detailed with lots of screenshots so you’ll easily be able to follow along and set up the expert advisor quickly. 

Profit calculator

The Waka Waka profit calculator is a tool designed by the developer to show you exactly how much money you will make when using the bot. You can select different amounts of starting capital and adjust lots of settings to find the optimal amount of money to invest. 

Waka Waka Telegram

Waka Waka has its own Telegram group which is predominantly used for announcements and new releases. The EA’s developer will also occasionally provide educational content to help you with the robot such as new settings or any adjustments you may want to consider making. 

Our verdict

Waka Waka is an impressive forex EA with a verified history of profitability. What makes the bot stand out from others is its long track record. It is a record-breaking EA and recently produced its 60th consecutive month of profitability. Over the past 5 years, Waka Waka has generated over 6600% on a live, verified account. 

It has a very active developer who is on hand to help answer any questions you may have. During our testing of the robot, we could contact Valeriia Mishchenko very easily and she quickly answered our questions. 

The EA has a free 14-day trial, a money-back guarantee, and full support. While it is not the cheapest expert advisor on the market, it certainly is one of the best and most trustworthy and comes from a developer with a long history and reputation for delivering successful auto traders. 

Methodology

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We test each trading robot to provide clear, accessible guidance on the service it offers and how it compares to the 63+ other autotraders we review. Testing is carried out by our panel of industry experts, analysts, and active traders who sign up to the expert advisor, conduct research, and score the service.

To supplement our practical testing and experience, we research the service to gather any further relevant information and provide context to help you decide whether the trading platform is right for your investing needs. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.

The expert advisor is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, investing options, range of products/markets, research & analysis tools, and the availability of educational & learning resources.

We work closely with the individual brand to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process.