Econ Power Trader Review: Another Robot Scandal

Econ Power Trader Review: Another Robot Scandal

A platform that promises to combine incredible risk/loss ratio and predictability is what Econ Power Trader is all about. After reviewing another related product, it seems LeapFX is recreating the same products. Only this time, they are using a different name, but the presentation is the same. To get this product, one must visit the Leap FX page and click under automated trade signals. There are a bunch of other products that appear the same apart from the price. Read this entire EPT review for more.

Econ Power Trader Review

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About Econ Power Trader

From the look of things, this is an exact copy of the power trader, only that this robot is automated. The vendor does a terrible job with the information he provides about the capability of the robot. There’s short and detailed information on how the robot works on LeapFX’s page. And this goes to show the lack of concern the vendor shows to the public. He should be more clear and precise on how the robot works and what it entails. The lack of proper information is what makes us question the entire platform.

Econ Power Trader is sold to us as an amazing automated trading robot. From our investigation, we have learned that the vendor has several products under this name. The only problem with this and every other robot is the lack of any updates. Using the myfxbook, we can see that the last update was in 2018. And this is the main reason why most traders are losing with this robot. The entire setup is backdated, and the developer shows no sign of improving. These are the reasons why we have to flag down this platform.

Assets and trading instruments available

When it comes to trading assets, the vendor is limiting users to only major currency pairs. We noticed that the vendor offers six pairs of major currencies. These pairs include AUDUSD, EURUSD, GBPUSD, NZDUSD, USDCAD, and USDJPY. All these are major currency pairs available on the platform. One problem with this platform is that they fail to offer crypto, exotic, and minor currency pairs. For those who want to spread their risk, it’s not possible with this robot. The vendor limits access to six major currencies.

Business owner

The owner of LeapFX is Lance Hunter, who claims to have years of trading experience. There are several products under this developer that look and even sound the same. We wonder why the vendor fails to show any creativity with his other products. The level of professionalism is in question, even if the vendor is offering several products. It seems Lance is recycling old products and giving them new names. His product page is filled with the same products with the same trading conditions.

Comments and feedback from various users

There are certainly those that have ripped the benefits of this platform. Those who signed up in the initial stages of development certainly made a profit. It is how Lance has managed to get a hold of a chunk of traders. He creates a working platform that is viable for several months. Once word goes round that the robot works, he hikes the price. After more users sign up, he fails to update the robot and makes users lose money. It is the pattern we have seen with his other products.

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Econ Power Trader License and Registration

Econ Power Trader Features

Econ Power Trader is far from being a legit trading tool as it lacks a valid permit. The developer has been in the game for long and still has no trading license for any of his products. It goes to show how irresponsible the vendor is when it comes to protecting investors. An unregulated entity spells doom for investors as the risk of losing funds is higher. Imagine losing your funds not because of trading but the robot being canceled. There’s no way to protect yourself from such scenarios.

We had to check with various online regulators to check whether the platform was real. It turns out that the regulators are having issues with LeapFX. A majority of members who lost funds have already lodged complaints with regulators. These regulators hail from different jurisdictions. Once you buy the robot, there’s no guarantee that the vendor will protect you. And this is the reason why we have to flag this robot. Users have no protection clause, which protects them from unforeseen changes such as insolvency.

How the signup works

The only way to get the robot is by sending your email address on their LeapFX Product page. Once you do so, the platform is sent to you through a link on your email. One of the biggest problems with this plan is exposure. By sending them your email, you give them the right to send other related products. Users will start getting other products that the developer claims works perfectly with the robot. And this is one reason why we should all stay away from the platform. After signing up, the number of spam emails increases in their hundreds.

Features of Econ Power Trader

When it comes to the strategy, this is another vital area that shows Lance’s trading experience. The platform is using the news trading strategy, and the timeframe is undisclosed. Such information is vital, and the vendor chooses not to disclose their timeframe. The signals may arrive at odd intervals, which means missing out on profitable trades. The vendor tries to keep it fair for the price, but it is not worth it. Without any updates, even a free robot is not of any help.

Obstacles and opportunities with Econ Power Trader

Available price

Depending on the time of day, Econ Power Trader is selling for $297 and $497. The vendor might jack the price at any given time, and we feel it’s not justified. Selling this unregulated robot for $497 is outright stealing from users. The overpriced robot does not have any guarantee of making users money. There is no quoted accuracy level, yet the vendor wants a huge chunk of the deposit. After buying the robot, users still have to deposit the trading amount. As you can see, this is not a fair deal.

Contact and customer support

One way of contacting the vendor is via the LeapFX page, and the other is via the myfxbook page. All these communication avenues are of no help as we can testify to it. We have sent countless emails to this vendor and await their response. It’s been over three weeks, and still haven’t received any word from them. LeapFX is trying every trick in the book to keep us at bay. The only way to expose them is by asking them for direct access to their communication line. It’s the reason why there is no phone number listed on their page.

Results and trading performance of Econ Power Trader

Econ Power Trader Trading Results

As far as their trading performance is concerned, there are two myfxbook accounts. Both of these accounts show large gains. One of the accounts stopped running in mid-July, and we believe the account was blown. We notice that their lot size is large, which could indicate why users are blowing their accounts. It seems unfair for the developer to put others at risk with this huge lot size. No one has been able to reciprocate the huge gains seen on either of their myfxbook accounts.

Scam or Legit Econ Power Trader

Econ Power Trader is a scam that is slowly catching up as more and more victims pop up. Stay away from this platform and beware of the risks involved.

Our view

We won’t be recommending this platform for obvious reasons. The lack of updates and one account completely blowing up means this is a huge risk.

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