Trade Explorer Review: Can You Trust This EA?

Trade Explorer is a Forex expert advisor that claims to generate a maximum of 377% profit every month while trading on 27 currency pairs. According to the developer, it can successfully deal with volatile market conditions while limiting the risk.

From the live trading account, we can see that the robot can win profits at a steady rate. It is quite affordable compared to other Forex trading systems and comes with a money-back guarantee policy.

Vendor transparency 

The parent company behind this robot is known as LeapFX. This company is based in New York, United States, and has been manufacturing Forex robots for quite some time now. On third-party websites, it has decent ratings, which tells us that it has managed to build quite a reputation. The vendor has shared the official email address on the website. Other trading systems from this company include Funnel Trader 2.0, Automic Trader, DynaScalp, AX Trader, The Fund Trader, and Easy Money X-Ray Robot.

How Trade Explorer works 

Each user gets access to the full software and this is accompanied by detailed guides on how to set the robot up. With Trade Explorer, there is no second-guessing, since the system always runs on optimal settings. After you’ve loaded the provided settings, you don’t need to perform any other actions.

Some trading strategies pass into obsolescence with changing market conditions. This is why the developer regularly offers free updates for this system. You can run this EA on both MT4 and MT5 trading platforms.

Timeframe, currency pairs, deposit  

Trade Explorer is compatible with a total of 27 currency pairs, including those like AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, CAD/CHF, CAD/JPY, EUR/AUD, CHF/JPY, GBP/AUD, and others. It works on any broker. While using a cent account, you can get started with a small deposit of $100. The live trading account uses 1:200 leverage.

Trading approach 

The vendor has not explicitly mentioned the trading strategy. However, from the trading results, we can see that it is a high-frequency strategy where the robot conducts multiple trades on a daily basis and tries to generate small profits from each.

Pricing and refund 

There are two plans for this expert advisor. One of them is for a yearly membership while the other one is for lifetime membership. The yearly plan costs $397 while the lifetime plan is priced at $697. For both of the plans, you get a 30-day money-back guarantee.

Trading results 

At this moment, we don’t have the backtesting results for this expert advisor, only the live results. This live trading account on Myfxbook has been active since May 13, 2020. To date, the EA has conducted 10992 trades through this account. So we can say that it has been active for a long time and has successfully dealt with different market scenarios. The win rate for this account currently stands at 78%, while the total profit is $18,548.46.

While the daily and monthly gains are 0.24% and 7.44% respectively, the drawdown is 17.29%. It is quite impressive that the EA has been able to maintain such a high win rate while keeping the drawdown low. This tells us that it follows an effective strategy that generates stable profits without taking too much risk. The account has an impressive profit factor of 2.06 and a time-weighted return of 376.53%.

Here you can see the recent trades conducted through this account. The EA trades with a lot size of 0.01-0.03. It holds each order for an average of 24 hours, but there are instances where it has closed an order in a few minutes. The average win and loss for this account are 23.56 pips/$4.23 and -68.36 pips/-$7.08, respectively.

People say that Trade Explorer is…

Reliable. On Forex Peace Army, we came across this review for the robot where the user has stated that their balance is growing consistently. They have also praised the prompt customer support.

Verdict