Trade Explorer is advertised as an effective and profitable Forex trading expert advisor, designed to grow your revenue and provide up to ‘38% profit per month’. Ability to trade on 27 currency pairs and being user friendly 100% automated trading software, this Forex tool looks like a dream for every trader involved in Forex trading. Is the software as profitable and good as the LeapFX team claims? Is it a wise solution for traders? Keep on reading to find out the answers.
How Trade Explorer Robot Works
The Trade Explorer presentation looks unprofessional and poorly organized. Every time we find LeapFX products we are invited to click on the ‘click here for access’ button where we must insert our email.
Once we insert an email address, we are automatically redirected to the website. The Trade Explorer robot presentation consists of a detailed video about the robot, screenshots of trading results, direct links to myfxbook trading accounts, key features of Trade Explorer, and pricing details.
The EA has many features but their presentation is wordy and provides very little useful info, so we’ve made efforts and gathered the most important features of this trading tool in this list:
- The robot provides up to 38% profit per month.
- The expert advisor works on the MetaTrader 4 platform.
- Supports 27 currency pairs.
- Traders can start with any account size.
- Free lifetime updates.
- The devs say their robot provides high returns monthly.
- Inbuilt settings do not need to be changed to make profits.
- The software is easy to use. The one thing we have to do is to attach the robot to the chart.
- The software trades 24/7.
That is all we got from the Trade Explore presentation. To tell the truth, 70% of the whole presentation consists of unnecessary, useless information that provides you no real insight into the product.
We have not found a detailed trading strategy insight from the LeapFX team. The robot works on the MT4 platform, supports 27 currency pairs, and trades 24/7. It focuses on identifying trends and price action ignoring sharp movements and market noise.
Unfortunately, the devs failed to provide backtests. Thus, it is impossible to see what trading strategy the EA used in the past.
Trade Explorer Trading Results
The developers provide us with 4 trading accounts verified by myfxbook.
Two out of 4 trading accounts are single images that cannot be verified:
Only 2 trading accounts are active, where one was updated 4 days ago. Thus, we will analyze the trading account which is trading now and is regularly updated:
This is a Real USD trading account, created on May 13, 2020. It works on the MT4 platform with FX Choice brokerage and trades with a 1:200 leverage. It is tracked by 18 traders. Since May, the account has obtained a 51, 48% gain with a monthly gain of 6, 13% and a peak drawdown of only 4, 97%. Its initial deposit was $5K. For 7 months of trading, the EA has brought over $2,5 of profit.
The robot has traded 1887 trades with 990 pips. Its average win ($3, 05) is lower than the average loss (-5, 39). The average trade length is 1 day. Its profit factor is 2, 27. Win-rate for long positions equals the win rate for long positions: 79% – 80%.
The robot trades multiple currency pairs:
It has closed most of the trades with GBPUSD – 172 trades. The most profitable symbols are USDSEK – $ 262, 62 and NZDJPY – $165, 56.
The EA trades daily, from Monday to Friday:
The most trading day is Monday, while the less one is Friday.
The robot trades with minimal risks. There is a 0, 01 chance of losing 10% of the account. There should be 139 consecutive losses in a row to lose 10% of the account.
Eighteen out of 20 last trades were profitable. The robot uses a fixed lot size which equals 0.01. Stop Loss is hidden.
Pricing & Refund
This robot comes in 2 different packages: Annual Membership and Lifetime License. Annual membership costs $397, while lifetime membership – $697. Both packages include automatic settings, free updates, customer support, 30 days money-back guarantee, and support for 27 currency pairs.
We have surfed the Internet but found no customer review. We have only found their live account on the FPA forum.