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LeapFX Review: Quick Scalp Trader

Today I’m analyzing a new Forex expert advisor developed by the LeapFX team, Quick Scalp Trader. This group has the modest goal of scalping “up to 250 pips per month automatically even if you’ve never succeeded at Forex before.” It’s clear that the creators of this service are marketing to less experienced traders, but they still believe that the system is powerful enough to meet the needs of advanced traders as well.

The software is created by the LeapFX team, who consider themselves to be “the automated trading experts.” In my additional research, via a WHOIS search, I’ve found that the owner of the domain is Cory Henig, and he’s located at 864 Glenridge Ave, North Woodmere, New York, USA. Cory played a large role in this market back in 2012, and his re-emergence with this new product 6 years later is quite a surprise. For support clients can contact support@leapfx.com.

Quick Scalp Trader Review

According to the developers of the Quick Scalp Trader EA, the scalping approach is unique in that it is more compatible than any other scalping strategy in the marketplace. They claim that they’ve used a specific design that allows for their scalper to work on most brokers without relying on low spreads and low response execution times. They don’t tell us how this is possible, and I’m not sure that it is, because the majority of their trades are still looking to win anywhere between the range of 5 to 15 pips on average. Generally, with trades this size you will always require lower spread, and there’s no technology that can change this fact, as it’s just part of doing business in the Forex market.

Another interesting tidbit, is that the LeapFX team claim that this EA was created by a pioneer in the scalping system field, William Morrison. At first, I didn’t recognize the name, but after doing a quick search here at Forex Robot Nation, I actually came across two reviews that I wrote back in 2012. It turns out, William was involved in many Forex releases in the early days of the Forex robot marketplace, including Forex Replicator, FX Phantom, Forex Growth Bot, and Million Dollar Pips. You are welcome to check out a couple of those reviews, but please don’t judge my old writing style, as I’ve come a long way from when I first started this blog.

As for the specifics of the scalping strategy, there are vague mentions of microsecond calculations, new technologies and different parameters, but no methodology is explained in much detail.

Breakdown

  • Type: Forex Robot
  • Price: $297-497
  • Strategy: Scalping
  • Timeframe: H1
  • Pairs: EURUSD, GBPUSD

LeapFX is currently providing traders with two different license types, for traders who are interested in their services. Both Quick Scalp Trader options come with the exact same features, LeapFX support, instant download, software updates, detailed manual, settings, and a 30 day money back guarantee. The only difference is between the length of the license, with a 1 year option going for $297, and a lifetime subscription going for $497.

There is a 30 day money back guarantee, but I recommend contacting support to ask about this guarantee to ensure there are no catches.

LeapFX

The self proclaimed “automated trading experts” seem very new to the marketplace, as the LeapFX website isn’t complete, with the majority of the pages consisting of test place holder images, and no other content. The only sections of their website with any content, is the Auto Trading page which links to the Quick Scalp Trader, and the Forex Brokers page which provide affiliate links to FX Choice and ThinkForex.

Yet, while the service comes across as new, the developer Cory Henig, aka William Morrison is an EA developer with a long past in this market. One that is detailed quite specifically in this expose I found here.

Quick Scalp Trader Results

The LeapFX team provides us with one Myfxbook account, which has been running for just over 3 months, and is showing a gain of nearly 123%. This account is also show a low drawdown of just 8.6%, and trades approximately 1-2 times per day.

There is a lot of information hidden on this Quick Scalp Trader account, as we don’t have access to the balance, equity, deposits, withdrawals, lots and much more. I’m not sure why this level of privacy is required, and it does make me wonder if there is something being hidden that shouldn’t be.

At this point in time, the results are impressive, but I would like to see a much longer sample size.

Conclusion

I’m not exactly sure how to feel about the Quick Scalp Trader or the LeapFX team at this point in time. While on one hand I am impressed by the trading account they are providing, I am still a little perplexed as to why this developer would take a 6 year hiatus, and what that means for his current level of trading skill. This is definitely a product I want to keep a closer eye on, because I’m interested to see how this will turn out in the long term.

Please leave your comments if you have anything you would like to add.

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their investment goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

4 comments

  1. Absolutely hopeless, it’s currentky running 2-1 losing trades. It cuts winning trades too soon and allows losing ones to run. Currently about $500 down in less than a month.

  2. On this moment i run this EA with 4 pairs. (newest release).
    I will give you the results later.

  3. It looks like it uses dangerous amounts of martingaling. I doubt this system can survive for long.

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