In this post I will review the Jet Trader Pro fully automated trading system developed by the LeapFX team for use in the free and ever popular MetaTrader 4 trading platform. The LeapFX developers who programmed this automated forex trading system also have a range of other forex robots and strategies that I have reviewed, including Funnel Trader, Trade Explorer, AX Trader, DynaScalp, News Action Trader, Gold Trader, Arbitron, Econ Power Trader, Automic Trader, Auto Arb, Fund Trader, Easy Money X-Ray Robot, Skilled Trader, Pattern Trader Pro, Trend Hunter Robot, The Money Tree Robot, Wave Scalper EA, Quick Scalp Trader EA, Dax Day Trader and InstantEA.
You can tell from the vast number of forex products that they have available they certainly have some experience. Here we will take a look at the Jet Trader Pro EA, covering the trading strategy that it uses, along with analysing any backtests provided and most important, verified real results. Hopefully this will help you to decide if this forex software is suitable for your own trading goals.
Jet Trader Pro Strategy
The Jet Trader Pro EA is fully automated which means you simply follow the instructions to attach it to your trading charts in MT4 and it will place and manage trades on your behalf. This makes it accessible to forex traders of all experience levels.
Whilst the Jet Trader Pro Robot is a fully automated forex trading robot, you could always set the software to semi-automated mode in which instance it would send you an alert when it finds a trading signal and you could decide from there if you would like to enter the market or wait for the next opportunity to come along. I would always like to perform my own additional market analysis where possible as extra confirmation for all trades. This could include technical analysis, fundamental analysis and price action analysis. Generally speaking, the more aspects of market analysis that you have covered, the more informed your trade decisions can be.
Jet Trader Pro is a forex robot for the EURUSD major currency pair only which is quite limiting in some aspects. However, this can be a good thing due to the fact that the EURUSD tends to have some of the lowest spreads and fast execution speeds. I find that an ECN forex broker can have some of the best trading conditions for any forex system. My top choice of broker for automated trading systems would be IC Markets. They have deep liquidity pools which means that you can get your trades executed at some of the best EURUSD prices.
It is important to be aware that the Jet Trader Pro EA uses a grid-based trading strategy. This type of system can get messy really quickly if too many rogue trades are open and thus, grid trading is not a strategy for everyone. Please make sure that you fully understand how grid trading works and accept the significant risks involved. I personally do not like grid trading robots as more often than not I have seen them blow up trading accounts. I would much rather use a forex EA that has a tight stop loss to cut losing trades short and let winners run. I would even look to try and lock the trade in at break even and use a trailing stop to try and make the most out of each trade.
The Jet Trader Pro EA is customized to not accept unnecessary risk, but to utilize a “dynamic price protection strategy” with built in Reversal Counter Measures. This helps it to adjust to the current market conditions. That being said, I am not a huge fan of grid trading systems as more often than not I have seen them not end well.
In order to use this forex robot, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
Jet Trader Pro Back Testing
There are no back tests on the Jet Trader Pro robot website. It would have been useful for potential users to see 99% modelling quality back tests using Birts TDS in the MT4 strategy tester. This could have given an idea of the historical performance but of course would be no guarantee of future performance. I think this is disappointing as the LeapFX team have plenty of experiment with forex software so it should not be hard for them to provide top quality backtests like the Forex Flex EA developer has in comparison. For the upmost accuracy, back tests can be conducted using real tick data, variable spreads and including commission, swaps and slippage.
Jet Trader Pro Live Results
Whilst the LeapFX team have not given us any backtests, they have gone one better and shared some verified Myfxbook accounts that show the Jet Trader Pro results. However, the results have not been updated for a while and the drawdown is very high. As I mentioned earlier, the Jet Trader Pro EA does use a potentially dangerous grid trading strategy which is evident with the huge drawdowns that we can see on the account. I really think this bot could be improved significantly by removing the grid aspect and replacing it with more sensible money management. However, that could in turn reduce the win rate. If you are happy to take this risk for the potential rewards then that is fine. Just be aware that there is a good chance this expert advisor will eventually blow up the account if you are not careful. To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Jet Trader Pro Summary
Overall, I feel like this is an automated forex system I would personally skip simply due to the high risk. Jet Trader Pro is a grid-based EA that can cause significant drawdowns due to the very nature of grid trading systems. It would be imperative to ensure you understand what a grid system is and I would only try it on a demo account to begin with in order to familiarise myself with how this particular forex robot trades. That being said, I probably would not trade it on a real account due to the risks involved. I feel that it is too dangerous for my personal taste. The Jet Trader Pro EA does include detailed setup instructions, free updates/support for lifetime along with a money back guarantee.
Jet Trader Pro
$347
Pros
- Fully Automated Forex Robot
- Customisable Settings
- Any Forex Broker
- Verified Results Provided
- Full Support
- Free Updates
- Detailed Instructions
Cons
- Limited Currency Pairs
- No Backtests
- Results Not Updated
- Risky Grid Trading Strategy
- High Drawdowns
- MetaTrader 4 Only
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
