Power Trader is a new Forex signal service promising low risk, accurate trading signals that will bring profits in both the short and long-term. Each signal takes into account the key principles of price action, volatility and short-term trending strategies.
The signal service is owned by Lance Hunter, the creator of LeapFX, a Forex trading group that generally focuses on automated trading programs. In the past, we’ve reviewed two robots this group has developed, the Quick Scalp Trader, and the Econ Power Trader. Thus, the developer has a fair amount of knowledge of the Forex markets, with their continued work in this field. That being said, this is their first foray into Forex signals, so it will be interesting to see how they make do. The group is located at 864 Glenridge Ave, North Woodmere, New York, USA, and can be contacted via email at email@example.com.
Power Trader Review
There are certainly interesting aspects to LeapFX’s Power Trader, but it’s worth noting that the development team is missing some very important aspects that every Forex signal provider should provide. It’s likely that they are missing these aspects or elements because they’ve never been involved in the signal market, but there are some questions that need to be answered. The vendor doesn’t tell us how we receive the signals, or who the analysts are that are providing. These are 2 very important aspects of every single Forex signal service on the market. At the very least, they should tell us the method in which we receive signals, whether that be via email or SMS.
As for the strategy, the LeapFX group utilize support or resistance levels in conjunction with price action. They aim to keep the stoploss between 10 to 30 pips at most, and have show us examples where they can earn up to 51 pips and the trade, which makes for a solid risk reward ratio.
In analyzing the sales page, it’s our belief that this is a Forex indicator that provides trade alerts, and not a collection of traders that are manually picking out each trade they send. Being that is the case, they should probably be advertising this is a Forex indicator like PipBreaker, or Newgen Trades.
- Type: Forex Signals / Forex Indicator
- Price: $77
- Strategy: Price Action
- Timeframe: Undisclosed
- Pairs: All Currencies
The LeapFX Power Trader is being sold for $77 for a lifetime license. This factor certainly supports my assertions that this is a Forex indicator, and not a signal service, as signal services almost exclusively charge on a monthly basis. In this case, you get a software that you can attach to your meta-trader 4 charts, that will monitor the markets and provide signals based on the built-in strategy.
Considering this developer advertises themselves as “the automated trading experts,” it’s a bit of a surprise that they haven’t just turned this indicator into a Forex expert advisor instead.
Signal or Indicator Results
The Power Trader trading results are not where they need to be. The leap FX group provides a 9 1/2 minute video, and a handful of screenshots to show us the type of signals that this Forex indicator can provide. So, all we really know is that the software can provide winning signals, but that’s really not enough in 2019.
They do not provide us with any trading statements, back tests or verified trading results. At the very least, the vendor should be trading this software for at least 2 months on a demo account, and then providing that account to us in order to prove that the software is viable.
With just about every professional vendor in the Forex market providing verified trading results, it makes it very difficult to justify purchasing any sort of Forex software that is lacking in the performance transparency arena.
while we do not doubt the Forex knowledge of the leap FX team in the creation of their power Trader software, there are other elements that we need to see before we can consider recommending this indicator or signal service to the Forex marketplace. Until the vendor provides transparent performance reports, and proves that the software works, I don’t believe that it’s a viable purchase. We aren’t asking for much, just that the vendor provides verified trading results of at least a couple of months trading this strategy.
If you have anything you want to add to the review, please leave your questions below this article now.
Power Trader $77
- Price - 100%100%
- Strategy - 75%75%
- Trading Results - 40%40%
- Client Feedback - 50%50%
- Customer Support - 80%80%
Easy to use
No verified results