Jet Trader Pro is a Forex expert advisor that claims to have had 14 winning months in a row. The vendor claims that the robot is capable of generating an average profit of 20% per month while keeping the drawdown to a minimum.
The presentation on the official website is mostly in marketing language, with the vendor trying their best to convince users how this robot can be beneficial to them. They have shared a video explaining how the EA works and the links to multiple live trading accounts. There is a list of features as well as the pricing details.
LeapFX, the parent company behind this EA, is based in New York. We have no background information on this organization and we don’t know when it was founded. The vendor has not revealed the identities of the developers and traders, so clearly there is a lack of vendor transparency.
There is an email address on the website that you can use to contact the support team. Alternatively, you can send your message using the contact form. The yearly license of Jet Trader Pro costs $347 while the lifetime license costs $697. Therefore, we think the price of the lifetime license is a bit too high. There is a 30-day money-back guarantee offered for this robot. So, traders can use the system for 30 days, and if it fails to make profits, they can ask for a refund.
Jet Trader Pro trades in EUR/USD, GBP/USD, and XAU/USD currency pairs. The vendor recommends starting with a small balance of $100-$250. Although they haven’t explicitly mentioned the timeframe, from the trading results, we can see that the robot trades on longer timeframes. Also, it uses 1:400 leverage for live trading.
Jet Trader Pro trading approach
This EA follows a SnapBack Detection system where it tries to take advantage of price reversals. It utilizes a dynamic price protection strategy that involves reversal countermeasures. The vendor claims that this results in the EA generating profits even when the market conditions are unfavorable. We don’t think the strategy explanation provided by the vendor is sufficient. Seasoned traders often look for technical details of the strategy and the lack thereof is likely to disappoint them.
Unfortunately, the vendor has not shared the backtesting results of this expert advisor. This prevents us from analyzing the long-term performance of the EA. Most Forex traders expect vendors to share historical test results because they help them decide whether the system is worth trying out in the live market.
Jet Trader Pro live trading results
Here we have a live trading account on Myfxbook showing the real-time performance of Jet Trader Pro. This account was launched on August 25, 2019, and since that time, the EA has conducted 471 trades through this account. It currently has a win rate of 64% and a total profit of £1430.83.
The average daily and monthly gains are 0.18% and 13.87%, respectively, and the profit factor is 1.56. We can see that the average monthly profit is less than what the vendor promised. Looking at the extremely high drawdown of 55.18%, we may say that the robot follows a high-risk trading strategy.
In this drawdown chart, we can see that the robot reaches high drawdown percentages every day, with the highest being 54.83% on July 29, 2020.
Looking at the trading history, we can see that the average gain percentage is around 0.5%, while the loss percentage usually exceeds 1%. The orders are kept open for at least 7 hours and sometimes for 10 days.
What are the risks with Jet Trader Pro?
The vendor sells the robot at a high price and we don’t have any background information on the developers. Also, the EA exhibits a high drawdown during live trading, which leaves your account exposed to potential losses.
At this moment, there are no user reviews for this robot on websites like Quora, Trustpilot, Myfxbook, and Forexpeacearmy.
What are the pros & cons of investing in Jet Trader Pro?
|Verified trading results||No backtesting data|
|Money-back guarantee||Lack of vendor transparency|
As you can see, this system has too many shortcomings. Since we have no background information on the developers, it is impossible to determine whether they have the required technical knowledge to build automated trading systems. The high drawdown further increases the trading risk.
Jet Trader Pro Conclusion
Jet Trader Pro is sold by a company with zero reputation and it uses a risky trading strategy that increases the drawdown and is likely to cause heavy losses for the trader. Additionally, the vendor has not shared the historical test results and the price of the lifetime license is much higher than the market average.