The Fund Trader program by LeapFX trades on 18 different currency pairs. It promises not to use any risky strategies such as grid or martingale. The providers promise to give over five years of trading data to convince customers to invest.
Pricing
A three-month membership will cost you $297. There is also an option to purchase the expert advisor for one year at $597. A 30-day money-back guarantee is available if you are not satisfied with the product.
Vendor Transparency
There is no information available on the developer of the trading system. All over the website, there are promises of making a huge return over a short period which seems fishy without any transparency.
Key Features
The Fund Trader has the following key features:
- Free updates and customer support is available with the best recommendations
- Fully automated with proof from third-party websites
- Works with small accounts and is beginner-friendly
The website does not present the trading time frame that we should place the robot on. There is also no information on the leverage and the recommended brokerages. We would have been able to identify the following using the records on Myfxbook, but there is no hyperlink that could lead us to that.
The developer recommends depositing a minimum of $250 to $500 in the trading account. After that, you have to install customized software and set the risk management according to your taste for the trades to copy directly from the developer account to yours.
The Fund Trader Trading Approach
For a robot that demands $297 for three months, there is little explanation of its strategy. The developer states that he uses both fundamental and technical analysis for determining trend direction and possible entry points. He then uses the algorithm for monitoring and identifying the take profit levels. This explanation goes against the previous claim of 100% automation. All the trades are closed within the same day.
Backtesting Results
The system has no backtesting results available as it uses a semi-automated strategy. It requires a human touch to open trades and the robot to manage exits.
The Fund Trader Trading Results
Live trading results are not available for the robot. As mentioned before, the website shows the images of Myfxbook, but there are no hyperlinks that could lead us to the page. It is pretty easy to edit pictures, so we can not believe them.
Doing a web search, we could find demo results for the same system, which resulted in a margin call. The system started trading on 13 May 2021 and has a drawdown of -33.62% already. The risk of ruin is incredibly high, with only 16 trades required to reach a margin call.
Other than this, the system had a winning rate of 62% with a profit factor of 0.32. The average win was $45.59, and the loss was -$229.59. The robot turned the initial balance of $5000 to $3755.93.
What are the Risks with The Fund Trader?
We can observe the following risks while trading with The Fund Trader:
- Trading records on Myfxbook show a loss of funds.
- Performance is only available from May 2021. In a small run if the system had a drawdown of -33.62 then for the extended duration it can reach -100%.
- There is no transparency from the developer.
Worth Noting!
There are no customer reviews available on noted websites such as Forex Peace Army that can guide us if the system is working. Reviews are generally present for the LeapFX, who are the responsible developers of many robots. Unfortunately, the rating is not good – 2.944 out of 5 based on 14 customer feedback.
What are the pros and cons of investing in The Fund Trader?
Pros
- Thirty days money-back guarantee
Cons
- No transparency from the developer
- Performance tracking is available on a demo account
- Live results were removed from the website probably because the system hit margin call
The Fund Trader
The developer makes tons of claims on the website about getting rich as soon as you invest funds. This is quite a common practice amongst scammers all over the internet in the financial industry. Stay away from The Fund Trader if you love your trading capital.
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