Star Trader EA is the latest automated Forex robot developed by the LeapFX team. This time around, LeapFX claims that their brand-new Forex software can earn “up to 400% profit per year aggressively even in the worst market conditions.” At first glance, we can’t seem to find any results in line with this guarantee, but we will continue to do research and add to this review over time. Our main goal is to provide as much transparency as possible, and let you know if this is a viable investment opportunity or not.
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 firstname.lastname@example.org. 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, and there have been very few comments left on our reviews.
Star Trader EA Review
According to the sales page, the Star Trader EA is “proven to generate 500 to 1000 pips per month in profit during one of the most recent, brutal economic events in history.” 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.
The Star Trader EA uses two indicators, RSI and CCI to trade overbought/oversold zones “on higher timeframes 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.
There is really way too much story, and not enough real hard line information about the product itself. Which is generally not something we look for in our best Forex robot rankings.
It’s also quite strange that this was developed in 2016, but they have no trading accounts from this time. This is another aspect we will discuss further in the trading results section of the review.
- Type: Forex Robot
- Price: $297
- Strategy: RSI and CCI
- Timeframe: Undisclosed
- Pairs: USDJPY, GBPUSD, EURUSD, AUDUSD, EURCHF, EURGBP
There are currently 2 different licensing options for the Star Trader EA. Traders can purchase a one year license at $197, or a lifetime license at $297. Considering the difference in price is only $100, it’s very difficult to imagine buying the software on a yearly basis.
The robot comes with LeapFX support, an instant download, updates, a detailed manual, settings, recommendations and a 30 day money back guarantee.
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 drawdown 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 only issue we have is that the promises and guarantees on the website are not in line with the trading results at all. The vendor makes promises of 400% yearly gains, but can only show us 19.5%. The website is filled with Myfxbook screen shots of different trading accounts with huge gains of up to 335%, but none of these accounts or screenshots are verified. There is nothing to prove that these accounts are actually associated with this product at all.
This also goes into the fact that the entire premise of the software is that it performed well in 2016, but they don’t have any Myfxbook accounts in 2016. The current real account is acceptable, but the marketing is deceptive.
As it stands, we would like to see much more from the LeapFX team in terms of strategic insight and transparency. They should also consider cleaning up the marketing approach for the Star Trader EA as the Myfxbook screen shots and promises of major gains aren’t inline with their real trading results. With understand they are trying to promote their expert advisor, but they are doing so in a way that isn’t fair to the consumer.
If you have anything you like to add to the review, please leave your questions and remarks below the article now.
Star Trader EA $297
- Trading Results
- Client Feedback
- Customer Support
Star Trader EA is a Forex robot using an indicator formed trading approach.
Indicator based strategy
Slow account growth
Some deceptive marketing tactics