Today’s review will be about another LeapFX software called a Trade Explorer robot. To get in, we have to provide them with our email address. Don’t forget to write a fake one, because they’re spammers.
The main page of the presentation welcomes us with a video and the statement that we can get up to 38% monthly trading 27 currency pairs on a high-volatility market with acceptable risk.
The robot costs, as usual for LeapFX’s products, much money. This deal is completely overpriced. Annual membership costs $397. The lifetime license costs $697. Both packages are featured with the robot, default good-to-go-with settings, free updates and upgrades, support, recommendations (what’s this?), and a 30-day money-back guarantee.
Trade Explorer Trading Strategy
There are trend and price action strategies behind the system. It’s a scam-way to introduce the EA. They’ve written a 24-page presentation and said just a single line about the most important – strategy, indicators, and so on.
Trade Explorer Features
We’ve found and gathered up all features:
- The robot trades fully automatically.
- It works only on the MetaTrader 4 platform.
- The system is beginner-friendly in every way.
- It works with 27 currency pairs.
- We can start using it being experience-free.
- The robot provides much information when it’s attached to the chart.
- There’s no account-size restriction. So, we can start with as low as $100-$200.
- We can run it on any broker house we want.
- The basic settings are everything we need to be profitable.
Trade Explorer Backtesting Results
The company provides no backtest reports that would allow us to compare past results with present ones. We would know how the EA handles different market conditions.
Trade Explorer Live Trading Results
The robot trades on the real USD account on FX Choice. It trades automatically and uses technical indicators with 1:200 leverage on the MetaTrader 4 platform. This account has a verified track record. It was created on May 13, 2020, and deposited at $5000. Since then, the absolute gain has become +71.74%. An average monthly gain is 7.32%. The maximum drawdown is 16.89%. The account is tracked by 26 traders.
Trade Explorer closed 2448 deals with 1397 pips. An average win of 29.17 pips three times less than an average loss -106.49 pips. The win-rate is 78% for Longs and 79% for Shorts. An average trade length is a day. The Profit Factor is 2.15.
It trades all symbols that could be found on a specific broker.
Trade Explorer focuses on night scalping and trading European trading hours.
The EA trades almost all days equally.
The robot works with little risk to the account balance.
The system uses high Take Profits with Trailing Stop Losses to close deals with profits if the market goes in the opposite direction.
The system is online just for several months. All of them were profitable.
Trade Explorer Reputation
The EA doesn’t have its own page on Forex Peace Army. There’s just a company page with only ten reviews. The total rate is 3.5.
If the representative doesn’t like the comment, he or she just says that this is not their customer and the EA works well.
This person noticed that EAs didn’t work properly and provide profits as they should be.
Trade Explorer Review Summary
- Strategy – score (7/10)
- Functionality & Features – score (3/10)
- Trading Results – score (7/10)
- Reliability – score (5/10)
- Pricing – score (2/10)
Conclusion
Trade Explorer is another LeapFX software that we know completely little about. The developers provided no backtest reports to ensure that they have tested it well. Trading results showed that the robot is several-months young. We can’t be sure that it’s safe enough to be used on real accounts without babysitting. The offer is so overpriced, as usual. The EA with the same functionally costs $250-$350 maximum.
