Econ Power Trader (leapfx.com)is an Expert Advisor that was developed and marketed by the famous LeapFX group. It was created to assist traders navigate the often confusing road that is known as trading. It allegedly as the capability to generate a monthly profit between 20% to 10%.
Today we will be reviewing Instant EA to ascertain if the service this vendor is offering is worth the purchase. Read through our review to see what experts have to say about the Forex trading software.
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What Are Forex EAs, Signals or Indicators?
An expert advisor (EA) is software that directs and guides you on what trades to make or pass on, it even automatically initiates and carries out trades according to a set of already programmed instructions. Expert advisors are most often deployed on the MT4 or MT5 forex trading platforms.
We cannot overstate the advantages and usefulness of an Expert advisor. Among the many advantages is the slight learning curve involved in using the Expert Advisor. That is to say, you need little learning to use an EA as the trades are being carried out by a set of instructions already made by an expert. Another advantage is that it can consider a lot of variables that humans may not have the time or potential to handle.
It is normal and not out of character for a Forex EA vendor or signal provider to lay claims to their product being a sure-fire way for you to get richer (it’s mostly just marketing.). This is because anyone who is looking for a signal provider is searching for a hassle-free way to make some profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit vendors at the bottom of this article.
Econ Power Trader Review
Econ was developed by developed and marketed by LeapFx. LeapFx on their website lay claim to having more than 5 forex robots in their arsenal, with notable names such as Arbitron, Jet Trader Pro, Skill Trader, News Action Trader, etc.
The Landing page comes with an introductory Video that covers all the basis that this EA works with. The sales page of Econ Power Trader is certainly targeted towards
The sales page which seems to target novice traders as it filled with sales jargon and steep claims that provides little insight. One of the claims is that this EA exclusively trades at a time a major economic news. Another is that it has the capability to generate a monthly profit between 20% to 100%.
How Econ Power Trader Works
In this section, we cover the strategy and methodology the EA works. We also take a look at the trade result if any is provided. For the trade results we hold results that are posted on myfxbook to be standard but we also consider fxblue and other alternatives.
This EA works on the MT4 and the MT5 Platform, it works on these currency pairs: AUD/USD,EUR/USD, GBP/USD, NZD/USD,USD/CAD, USD/JPY
The information on the website does not give a detailed explanation for the strategy they apply. According to the website, Econ doesn’t use martingale or grid strategy. Before any significant new is rreleased, pending orders are opened in a matter of seconds
The order gets canceled promptly if the market price fails to move significantly. This prevents any position from being in an unpredictable direction. Stop loss is usually between 15 to 20 pips while take profit is in the range of 100 pips or more. To ensure profit, the stop loss level is automatically adjusted. The trading execution times of the EA seem to indicate that it, in fact, does actually trade in the time when important news is released.
Econ Power Trader Price
Econ comes in two packages. It has yearly membership of $297 which can be calculated to be $24 per months. It also has a lifetime membership package that is available for $297.
They both have a 30 day period for a refund.
Customer Support
They provide a contact form and three different social media accounts.
Client Feedback
Customer feedback is a vital instrument for us to offer up a quantitative review and analysis of an EA. We mostly consider feedback a third-party site as we have found that reviews on the official page might be manipulated, concocted or paid for.
We couldn’t find enough reviews by paying customers to come a decisive conclusion about this particular EA.
Conclusion
Although LeapFX is a trusted name, we know news trading can be difficult and not as easy as it is meant to appear. Econ Power Trader has evidence of massive returns on their trading accounts. However, when looking at the high level of risk associated with this strategy, it makes us doubt if their EA would produce the same results in a live trading account.
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