Trade Explorer is an expert advisor that promises to make over 377% in just one month trading on 27 currency pairs.
Recently, there is an increase in the number of robot services that offer both MT4 and MT5 version but this Trade Explorer EA feels and tastes like a complete hoax.
This is quite different from what we saw in our recent review of FX Track Pro, another MT4 and MT5 EA that rather uses a more subtle presentation approach.
The developer of this Forex robot feels that traders of all levels can use their products to quickly generate returns consistently even in the most volatile market conditions with limited risk.
Trade Explorer Review
The vendor wants clients to be ready because the EA makes steady, consistent profit even as the markets rage with volatility.
This is a very interesting promise, one that we cannot believe at the moment because we’ve seen that despite Trade Explorer having a track record of trading, draw down has been very high many times.
Aside from this, the developer is not keen on providing background details of their operation, their location and even their names.
However, the EA promotional page can be seen at leapfx.com. Leapfx.com is a website that collects together Forex expert advisors from across the web and sells them to traders.
We currently have no idea who is behind the Trade Explorer because this information has never been disclosed. They feel that this is not as important as the product they’re promoting.
Having said this, our analysis of the Forex robot’s features will let you know whether or not you want it. In any case, we’re still recommending the best Forex trading tools here on this page.
In case you would like to embark on a journey of trading Forex like a professional, those tools will always go a long way to help you achieve consistent results.
Trade Explorer Strategy
The vendor claims that the EA works 24/7, scanning 27 currency pairs for quick, easy profit opportunities.
They want traders to know that the Trade Explorer Forex robot efficiently monitors the market trends and price action, while ignoring sharp movements and market noise.
They provide the following explanation with regards to how the robot proceeds with the market.
And the icing on the cake is its use of advanced dynamic trade management to maintain an insanely high return with relatively low drawdown.
We appreciate this information but we think that the vendor can do better, as their explanation comes out very deficient and lacking in content.
The message is that they’re using a low risk trading approach that yields high return. This is the much they have provided to support their promise that Trade Explorer EA can generate up To 377% Profit in just 1 Month.
All the same, we feel that a Forex vendor should always verify such figures if they have to use them in their marketing material.
Trade Explorer EA Features
Trade Explorer claims to be a fully automated Forex robot that is completely beginner-friendly and is hard-wired to generate passive income for many years to come with safe risk management.
The expert advisor is supposedly built with all the requirements needed to achieve optimal results.
- Trade Explorer is an Expert advisor that works on both MT4 and MT5 trading platforms.
- Works based on an algorithm that follows trend
- Trades 24/7 on over 27 currency pairs including both minors and majors.
- Cost about $397 for a onetime yearly payment or $697 lifetime payment.
The vendor offers two license packages to the public, with full software access, automatic built in settings, free updates for life, 24/7 monitoring service, superb customer service, 30 days money-back guarantee and best recommendations.
A yearly license package for MT4 costs $397 whereas the MT4 lifetime license package is available for a price of $697.
There are packages for the Trade Explorer MT5 yearly license and Trade Explorer MT5 lifetime license respectively.
Trade Exploer has provided 6 myfxbook profiles for the analysis of their trading results. However, anytime we look at their trading account, we see big trouble with the Trade Explorer trading results. It is either the vendor is hiding essential parameters or drawdown is totally unacceptable.
Nevertheless, we are going to take a look at their lowest risk account as well as their biggest trading account.
The Trade Explorer lowest risk account has a drawdown of 15.39% and a total gain of +256.36% over a year now. In this myfxbook.com profile, monthly returns are only 7.85% which is a far cry from their alleged 377%.
Trading systems that suffer this kind of draw down usually have an element of scalping, grid trading or Martingale and in as much as the vendor is not admitting, they appear to be taking huge unnecessary risks while trading.
We feel that these results are good but the high draw down is making it impossible to believe that Trade Explorer EA can provide a consistent income.
Trade Explorer is an expert advisor with minimal gains but the high drawdown is making us lose trust in their risk management abilities. We’re not sure how the 377% monthly returns are supposed to be achieved.
Therefore, we’ll not recommend this Forex robot today because it still falls short of our expectations with regards to listing in our best Forex EA page.