In this post I will be reviewing the aptly named Money Tree Robot from the LeapFX team of forex developers. I will start by saying that I am not a huge fan of the name that they have chosen for this particular forex robot as I think that it is slightly misleading and can give the wrong impression to the uninformed.
As with the vast majority of forex robots, the Money Tree Robot can analyse charts in your MetaTrader trading platform for trading signals according to the built-in trading strategy. When it determines there is a valid setup, it can then place and manage the position on your behalf. Whilst this can be useful for those of you who may not have the time nor knowledge to trade manually, it is important to be aware that there can be absolutely no guarantee on results. Furthermore, past performance is by no means an indication of what will happen in the future.
This is yet another forex robot from the LeapFX team whose other forex software I have previously reviewed, including Funnel Trader, Trade Explorer, AX Trader, DynaScalp, News Action Trader, Jet Trader Pro, 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, 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. However, many years in the forex industry has taught me that does not exactly equal results.
That being said, in this Money Tree Robot Review, I will be taking a closer look at the automated forex system that it uses, along with any back tests and real verified account results.
The Money Tree Robot Trading Strategy
The Money Tree Robot uses a forex day trading strategy where trades usually last from a few minutes to a few hours at most. There is the odd trade that remains open for a few days which leads to more drawdown rather than a bigger win judging by the provided statistics. You could of course manually intervene with the expert advisor at anytime should you wish. I know some forex traders like to set up their alerts on their automated systems so that they can check each trading signal and decide if they would like to go ahead and manually take a position.
Alternatively, you could simply use the Money Tree Robot as a set and forget forex robot. It comes with default settings that have already been optimised by the LeapFX development team. You will at least need to check and maybe adjust the lot size to make sure that it is suitable according to your own risk preferences as every forex trader is different in that respect. If you have the skills required, you could even run your own back tests in the MetaTrader strategy tester to develop your own set files on your favourite financial instruments and chart timeframes.
One of the main things that I like about the Money Tree Robot, is the fact that it has been programmed to trade up to 15 currency pairs. This shows that it has good diversity and can mean that there are more trades. However, you do not need to trade all of the currency pairs and can choose those that you prefer. I would personally look for major currency pairs such as the EUR/USD and GBP/USD. This is because they tend to have some of the highest trading volume which means that we can catch some good moves.
The Money Tree Robot Features
- Fully Automated Forex Strategy
- MetaTrader 4/5 Platforms
- No Hedging or Grid Trading
- Trades 15 Currency Pairs
- Trades Frequently
- Built-in Money Management
- Fully Customisable Settings
- Any Forex Broker
The Money Tree Robot Back Testing
I must say that I am quite disappointed that LeapFX have not shared any Money Tree Robot back tests. I think these are very important to help give potential users an incline into what to expect from the software.
Granted, they have shared real verified results, but these only cover a small period of time. When you consider there is historical tick data for over 20 years available for back testing, I think that LeapFX should at the very least provide back tests for the 15 currency pairs that they are recommending to use with the Money Tree Robot. The fact that they do not, does raise some questions as to why not. Perhaps this is because the historical results are not that great, which is not uncommon to see from vendors.
If you are looking for a forex expert advisor with 99% modelling quality back tests, then you might want to consider the Forex Robotron EA as an alternative.
The Money Tree Robot Results
When it comes to choosing a forex robot, one of the most important things to look for are any verified results. I am therefore pleased to see that the LeapFX team have published and shared a Myfxbook account where we can view the latest Money Tree Robot results. I think the performance has been decent, although perhaps there is some room for them to work on the drawdown which might be too high for some of you.
I would also like to see them use a more well-known forex broker as this would give me more confidence in the results. IC Markets is one of my top choices when it comes to automated forex strategies. That is because they have deep liuqidity pools for superior pricing with tight spreads and quick trade execution speeds. This is backed up by various account types, convenient funding options and excellent 24/7 customer support.
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
The Money Tree Robot Summary
Overall, I do think there is some good potential with the Money Tree Robot. However, I think we need to see results for a longer period of time due to the fact that LeapFX have not provided us with any long-term back testing results. This would have given me more confidence in the EA.
The Money Tree Robot price tag is quite hefty when compared to some of its competitors such as the Forex Scalping EA. It does come with an easy to understand instruction guide and updates are free for life. You will get dedicated 24/7 support from LeapFX who are very friendly in my experience and always happy to help.
As mentioned earlier, you can use the default settings (adjust the lots) or choose your own bespoke settings according to your trading style. If you want to see what the Money Tree Robot can do, you could always start on a demo account. I think this is the best way to test any forex robot without the risk to familiarise yourself with how they work.
The Money Tree Robot$597
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.