Star Trader EA is a brand new Forex robot from a team of developers known as LeapFX.com. We have talked about them here many times and if you are a frequent reader of our articles, chances are that you have ever read about them here. We want to know whether this Forex robot is quite different from their other robots since they claim that the robot is able to generate 400% annually in returns. It trades aggressively and can handle all kinds of market conditions. That is according to the claim which they are making on their sales page. As we scrutinize these claims to try establish whether these numbers can be supported with proof, we are also looking at other factors that will determine whether or not the robot is the real deal. But so far we have not found any verified evidence of performance. We will keep updating this review as we watch it over time. For now, we want to focus on what we know about the robot.
LeapFX has been producing products in the Forex marketplace for the past 2-3 years. While they do not provide a location, our research does show that they are located at 864 Glenridge Ave, North Woodmere, New York, USA, and can be contacted via email at [email protected] While they use different names, or developers for each release, this time the product is produced by Lance Hunter. Known as “the automated trading experts” this group has released a multitude of trading systems are including the Econ Power Trader, Pattern Trader Pro, Quick Scalp Trader and Power Trader. Despite providing quite a few products, they haven’t gained too much traction in the marketplace. It is strange that despite massively producing trading robots for Forex traders, their products are not receiving enough feedback from users. It appears as if they are not marketing the robots quite well and if they are really marketing them, it means people are not purchasing these robots for one reason or the other.
In the meantime, those of you wanting to get started with a legit Forex robot can get one from this list of trading apps. But if you would like to keep reading to find out whether or not this product is genuine, we advice that you keep reading this review.
The Star Trader ea is said to have grabbed between 500 to 1000 in a month during one of the most recent brutal economic events affecting the market that it was trading. They don’t really provide much insight into the event, or show us proof of this large influx of pips. The most important part of this review is obviously going to be the trading results section, because there are many promises being made, and we will have to do our best to analyze which of those promises are legitimate. Although this vendor is making our job difficult by failing to provide us with details including proof of earning these pips as claimed on the promotion material, we are determined to find out if this robot is a true performer because we just don’t go by claims.
Let’s start with the trading strategy as explained on the sales page of the robot. They tell us that this robot uses two indicators called RSI and CCI to trade overbought/oversold zones “on higher time frames aligned with the current macro trend.” Considering the sales page is thousands of words long, it’s a little disappointing that the vendor only gives us a single line about their strategy. The rest of the website is some sort of fluff story about how the system was developed in 2016 during the volatile Brexit situation.
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What you realize from this explanation is that the vendor is focusing so much on telling stories rather than giving us hard facts of how their robot is special. There is no real information pertaining to the strategy that is being used here which is the reason the robot cannot qualify in the list of the best trading apps at this time.
We would like to bring to your attention that the cost of one license for this robot is $197 per year but if you want to gain access for a lifetime, the seller is going to grant you access for the price of $297. It trades a number of pairs which include USDJPY, GBPUSD, EURUSD, AUDUSD, EURCHF and EURGBP. If you are planning to buy a software that you will use in a long time, then it is quite difficult to imagine that you will be renewing licenses every year. The difference is just $100 and so many of us would opt to purchase a lifetime license if they can afford it right away. The robot comes with LeapFX support, an instant download, updates, a detailed manual, settings, recommendations and a 30 day money back guarantee.
Now, the question you should ask yourself is whether there is trading results to showcase the performance and justify the price tag for which the robot is selling for.
Although trading performance is not indicative of future performance, we like to use it to get a clue of how the robot would perform in the long run. The LeapFX team provides a single live trading account for the Star Trader EA hosted on Myfxbook. This account has been running since May 2018, and is showing a gain of 19.5%. This is obviously a very small gain for an entire year, but it does appear to be a conservative strategy. The draw down is only 5.19%, and the win rate is around 70% which is positive as well. We have very few complaints about this trading account, as it has performed quite well and consistently for the past year.
The Leap FX team are not very transparent with the way they are presenting this product. In addition to that, we would like a much better explanation of the specific strategy being used in the Star Trader ea before we can include it here.
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