The Fund Trader is another automated forex trading robot from the team over at LeapFX. They have a vast selection of commercial forex software including expert advisors (EA’s), trading tools and trading systems. You can see a selection from previous reviews that I have done including Trade Explorer, Easy Money X-Ray Robot, AX Trader, DynaScalp, The Wave Scalper, News Action Trader, Jet Trader Pro, Gold Trader, Arbitron, Econ Power Trader and more. As with the majority of forex robots, The Fund Trader EA has been developed to run in the ever-popular MetaTrader 4 (MT4) desktop platform. You can download MT4 free of charge and create a risk-free demo account from a forex broker of your choice. Here we are going to look at exactly what The Fund Trader is and how it works, with a view to helping you decide if it is something that you would like to implement within your overall trading strategy.
What is The Fund Trader?
The Fund Trader is a forex robot for the MT4 platform that has been developed by LeapFX. The developer states that it has been specifically designed for 18 currency pairs and gold. The currency pairs include the major EUR/USD and GBP/USD crosses.
I personally like major fx crosses as I find they usually have plenty of liquidity for some good market movements. Furthermore, they can also have some of the lowest spreads and fastest execution speeds. This means we can get trades executed at the best possible bid/ask prices.
An ECN forex broker with no dealing desk intervention can further improve trading conditions and help ensure that there is no conflict of interest between broker and trader.
The Fund Trader EA will scan the markets for trading opportunities based on its built-in algorithm. When it finds a buy or sell signal, it can enter, manage and exit a trade positions, completely on auto pilot. This makes it a hands-off trading solution that can be used by forex traders of all experience levels.
Just keep in mind that there are absolutely no guarantees on how well it will perform and there will be significant risks involved as with any automated or manual forex trading system. Perhaps even more so with forex robots that may not be able to see some things that a human eye can.
For example, some automated systems do not have news filters so can end up trading around highly volatile market conditions. This can lead to big losses and unfavourable trading conditions in terms of high spread and slippage. Of course, there are also those systems designed to trade around news.
What is The Fund Trader Strategy?
Well, this part interests me probably for the wrong reasons. I mean, I like a story as much as the next person but this character Gordon Francis who used to work for a private proprietary trading company has apparently got an amazing system he has been using for years and this is what The Fund Trader effectively implements.
He claims to employ a dualistic (2-step) approach to the markets by first closely analysing market fundamentals and technical analysis for each currency pair to determine trade direction and entry points.
Once that’s done, he will then implement a proprietary semi-automated / multi-phase software to monitor and apply a predefined exit for each trade. The average trade lasts for 5 hours – 24 hours.
How does The Fund Trader work?
The Fund Trader comes with detailed step by step setup instructions so that anyone can have it up and running on their MT4 charts in minutes. In order to use it, you can place it into the expert’s folder of your MT4 installation and load it onto the charts in your MT4 platform, adjusting the settings as required.
Make sure you are comfortable with all settings, especially the risk size used. Every trader is different and will therefore have a different risk appetite. What the developer has set as default may not be suitable for everyone. It is worth noting that The Fund Trader EA does not use any potentially dangerous martingale, grid or hedging strategies.
Now that The Fund Trader is up and running on your MT4 platform, it will conduct trading activity as long as the platform is running or until you interfere with it. Some traders like to keep an eye on forex robots just to make sure things are running smoothly and as they like. Whilst this is not exactly necessary, I would certainly be frequently checking up to make sure all is as expected. After all, robots just like humans, can make mistakes!
If you cannot always have your MT4 platform up and running on your computer or laptop, you could consider a Forex VPS which will be able to remotely run the platform for you 24/7 without needing your home machine switched on. You can just check the VPS at a time that suits you to see how things are going. Some forex brokers even offer a Free Forex VPS to qualifying traders.
The Fund Trader Features
By now, you should have an idea of what The Fund Trader EA is and how it works. Here we will take a quick look at some of its key features, which include the following:
- Fully automated forex trading system
- Programmed in MQL4 for the MT4 platform
- Developed by LeapFX
- Trades 18 forex currency pairs and gold
- Comes with full setup instructions
- No minimum balance required
- Any MT4 forex broker
- No dangerous grids or martingale money management systems
- Free upgrades and support for life
- Money back guarantee
The Fund Trader Back Testing
As is common with most LeapFX products that I have reviewed, there are no back tests shared on the website. I really think a team with their experience and skills, should at least be providing 99% modelling qualities to go along with the excessive sales pitch. Please don’t take offence, this is constructive criticism that I think could greatly increase user potential, provided the back tests look good of course.
I would like to see 99% modelling quality back tests on all the 18 currency pairs that The Fund Trader runs on, and also gold. These should utilise tick data with real spreads, commissions included and slippage. However, if it is not possible to back test this system because it is dependant on a real trader, then that could be mentioned on the website for clarification.
The Fund Trader Verified Results
One of the most important things traders look for when considering a forex robot are the verified account results that show how it has performed. Thankfully, LeapFX have been generous enough to publish The Fund Trader Myfxbook results on the official website.
Whilst they have pointed out some favourable statistics such as the gains, they have ignored other as important statistics in my opinion, specifically the drawdowns. I must say, they are too high for my liking and whilst I understand some traders do not mind taking additional risks, a drawdown of almost 50% if way too much for my liking.
It is also worth pointing out that as I write this Fund Trader Review, the Myfxbook account seems to have gone down. I cannot speculate as to exactly why, but I would want to see another verified account showing the performance of this forex robot over the course of a year or so before proceeding any further.
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
The Fund Trader Packages
The Fund Trader has two packages that you can choose from. The only difference between the packages are that one comes with a 3-month membership for $297, whilst the other comes with a yearly license for $597.
The Fund Trader Summary
I must admit, I was put off by The Fund Trader when I went through the website. This is nothing against the developers who have shown their programming skills with a variety of forex products. My concern is the claims that are made throughout the sales page.
Numerous statements on guaranteed profits I just cannot get behind. This is forex trading and if there is anything that I have learned over my many years in this industry, it is that there are zero guarantees.
Nobody can claim to always earn “x” amount of profit each month without being able to see into the future. It is just not fathomable and, in my humble opinion, reflects badly on those making such a claim, even if they have the best forex robot in the world!
All being said, if this truly is an automated system that has an active trader sat behind his desks analysing the markets and taking trades based on years of experience, then I take my hat off to LeapFX and give them all of the kudos they deserve. To be fair, they have tried to back it up with verified Myfxbook results which may actually be enough for some potential users.
I would probably try The Fund Trader on a demo account to begin with until I familiarise myself with how it works. If all goes well and I am impressed with how it performs, I may then consider switching to a real live trading account.
If you would like to know more about The Fund Trader or any of the other LeapFX products, please feel free to visit the official website by using the link below.