The Skilled Trader is a brand new Forex EA by the leapfx team that promises to double and triple your Forex trading account every 3 months with relatively low risks. Allegedly, they will give you 3 super secrets to profiting in Forex trading even if you have been loosing. However, some parameters can’t be analyzed from their result for the developer has hidden them.
Prices for The Skilled Trader EA are outside the normal industry pricing of $200. Is it worth buying a license for The Skilled Trader? Also, for our list of most recommended EAs, visit this page.
The Skilled Trader has not disclosed the name of their company or even their business address. The only thing they’ve said is that The Skilled Trader is entirely updated and maintained by a professional trading group with a combined experience of dozens of years and specialization in analytical trading but failed to introduce us to any one.
For support, you can reach out to them via [email protected]
The Skilled Trader Review
The Skilled Trader works on popular forex pairs like EURUSD, GBPUSD and XAUUSD(Gold). There are 3 packages for you to select according to duration of license – 3month, 1year and lifetime license. Prizes range from $247 for the 3month plan to $899 for the lifetime ownership.
The Skilled Trader has also claimed that it is not different than top traders and fund managers like Warren Buffet, Bill Ackman, or Carl Icahn with billions of dollars of their own money and some of them have billions of client money as well.
The vendor also states that this software can continue to compound your investment over and over so you can free yourself from debt, your job, and get all the luxuries you want in life.
Are these claims a true reflection of what The Skilled Trader can do? This The Skilled Trader review seeks to find out.
The Skilled Trader said so many things but reserved a little explanation on the robot methodology. During our reviews, we saw that they tried to summarize the software mechanism in 4 sentences :
- Express & Auto Updates
- Specific & Carefully Selected Trading Pairs
- Iron Clad Resistance to Broker Slippage, Delays, and High Spreads
- Trend Trading With Volatility Component
They also said that the EA is non-scalping works with any brokerage and allows a low minimum deposit.
These insights on software mechanism is reasonable but one thing we need to find out is how these approaches help in finding consistent profits.
This trading vendor has provided a myfxbook.com account for the purposes of viewing trading results.
This is a real (USD) account provided by FXChoice Forex broker. Returns are +106% which were generated between February 2018 and October 2019. These results were captured over 6months data sample and from the figures we see, we can confidently conclude that The Skilled Trader is far from competing with top traders and hedge fund managers like Warren Buffet etc.
The Skilled Trader has also hidden most parameters on their myfxbook.com account. We don’t know the average lot size, TP/SL and other important details.
They’re hiding these details for a very good reason and we believe when a vendor is not fully transparent, they’re often up to no good.
They’re a cheeky software vendor who wants to sell licenses based on information that is not clear from the word go.
The vendor has certainly done a good job by providing their myfxbook.com. However, we’d like them to be more transparent.
Secondly, we wonder how The Skilled Trader EA is going to sell their Forex robot for such high prices. Most traders will definitely shy away unless the developer can provide proof of profitable trading.