Trade Explorer is an FX Robot that claims to provide winning trades and gains of over 1000% in a very short span. The vendor assures consistent and steady returns with this ATS even during a volatile situation. This Metatrader tool is created and promoted by the LeapFX company which partners with expert providers to give you the FX solution you are looking for. We could not find vendor info like the year of establishment, the location address, phone number, etc. The lack of vendor details makes us suspect the reliability of the system.
Trade Explorer at a glance
|Price||$397 – $697|
|Currency Pairs||27 currency pairs|
Trade Explorer functionality
As per the vendor, the feature highlights for this FX EA that give it a competitive edge are:
- It is a completely automated system that is easy to use even by beginner traders.
- The FX EA uses a safe risk management method that ensures high profits with low drawdowns.
- Upon installing the system which takes only a few minutes, there are no further adjustments required.
- This FX Robot works on 27 FX pairs identifying the profit chances effectively by working 24/7.
Trade Explorer trading strategy tests
According to the info present on the official site, this FX EA uses efficient monitoring of market trends and price action. It ignores market noise and sudden sharp movements. It uses dynamic and advanced management of the trades. We cannot find further info on the approach which makes us suspect the unreliability of the system.
Moreover, there are no backtests present. It is true that backtests serve the main purpose of understanding the strategy and should not be used for assessing future performance. But traders prefer them to test the workability of the approach. The lack of backtests raises a red flag.
What about Trade Explorer trading results?
A few trading results verified by the myfxbook site are present for this FX robot. Here is a demo EUR account using the IronFX broker and the leverage of 1:500 on the MT4 platform.
From the above screenshots, we can see the total profits and absolute profits are of similar value at 850%. The daily and monthly gains are 0.13% and 3.84%. A drawdown of 29.19% is present for the account which has several of its crucial values hidden. The hidden data makes us suspect the approach and performance are not accurate. It also raises a red flag for this FX EA.
We could not find user feedback for this FX EA on reputed third-party sites like FPA, Trustpilot, etc. We look for reviews from such sites as they provide an unbiased view. You can find info on the crucial parts of the FX Robot like the performance, support, and other related details. The absence of user reviews indicates this is not a popular system in the market.
There are two pricing packages present, an annual membership and a lifetime membership. The features included in the package are automatic best settings, the software license, free updates, good customer support, and best recommendations. A 30-day money-back guarantee is present for the product. Compared to the price of competitor products, we find the price of this system is expensive.
Trade Explorer Review SummaryTrade Explorer
Functionality2/5 BadVery little info is present explaining the functionality of the product. There are no details provided like the recommendations, settings, etc.
Trading strategy2/5 BadA vague explanation of the approach is provided by the vendor which is insufficient and raises doubts regarding the reliability.
Live results1/5 AwfullyHigh drawdown indicates a risky approach and the hidden data in live demo results reveal the untrustworthiness of the system.
Customer support2/5 BadInadequate support is present. An online contact form is the main support method that the vendor offers.
User reviews1/5 AwfullyNo user feedback on reputed sites like FPA, Trustpilot, etc. are present for this FX EA indicating that the system was not popular.
- It is a completely automated software
- Verified trading sample
- A vague strategy explanation is present
- Trading results show a risky approach
- Price is expensive