A high win rate that is easy to achieve with low risk is certainly a big draw for Forex traders. The Fund Trader uses its 82%-win rate to lure traders. Assuring verified 29,000% profits, signal service promises high returns. As a trader, you need to just copy all the trades in your account to enjoy the gains. Promoted as an automated trade signal service, this software claims to be a safe and profitable system.
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Is This A Perfect Trading Software To Choose?
Gordon Francis is the developer of The Fund Trader. Promoted by the Leapfx group, this trade copier signal service assures a profit percentage of over 29,000%. According to the developer, this software is quick, easy, and does not need any ongoing performance charge.
Francis explains how he started his mini hedge fund after working for a Forex trading firm in London. He claims that his knowledge and expertise in the field have helped him achieve more than an 80%-win rate. Francis has been using his trading skills independently since 2006. We could not find any contact information other than the online contact form of the Leapfx site.
Features of this trading software include a fully automated system, a capability to trade 18 currency pairs including gold, the ability to work with small accounts, beginner-friendly, and proof of third-party verified accounts.
Regarding the trading approach, the developer mentions that he does not use Martingale, Grid, or Hedging approaches. But he fails to explain the approach he uses. There is a vague mention of a two-step approach that includes analyzing market fundamentals and the technical indicators for assessing the direction of the trades and for identifying the entries and exits.
How to start trading with The Fund Trader
The software is available as a subscription service with the three-month membership costing $297 and the annual membership costing $597. Features included in the packages are the automated software, free updates, best recommendations for trading, and customer support. A money-back guarantee of 30 days is offered by the vendor.
The Fund Trader Backtests
No backtest results are provided by the developer which is disappointing. Considering the fact that Francis has been trading independently since 2006, it is puzzling as to why he has not provided backtesting results. Backtests are a vital part of trading software in Forex.
Although they are based on historical data and are not predictive of future performance, they help traders know about the trading approach and other important details of the trading method. The lack of strategy tester reports raises a red flag.
A trading account under the name of Salvation is provided by the developer as verified proof. But the link appears to be broken as we were unable to go to the account page on the myfxbook site. However, we managed to find live trading results on myfxbook. Here is a screenshot:
The real live USD account using a MultiBank broker with the leverage of 1:100 on the MT4 platform reveals a profit percentage of +111870.35%. An absolute gain value of 417.65% is present which is confusing as it is not possible to have such a huge difference in the two values. Furthermore, the daily and monthly gains of 0.40% and 12.78% respectively also do not relate well with the total gain percentage.
The drawdown is 46.81 which is very high. Since the developer claims that the system is a low-risk one, the high drawdown proves that the claims are not true. Other trading stats include the profit factor value of 4.71 and a total of 735 trades executed since July 2016. The lot sizes are high and vary from 2.30 to 5.00.
Reviews from users are not present on reputed trader forum sites like the Forexpeacearmy, Trustpilot, myfxbook, etc. Feedbacks help us understand the efficacy of automated trading software.
We can glean information on the vendor support and check if they provide a refund as they claim on the site. But we could not find feedback either on the official site or the third-party review sites. The lack of user reviews proves the service is not a popular one among traders.
- Fully Automated Software
- 30-day refund offer
- Trading results reveal several discrepancies
- Performance is not good
- The trading approach explanation is vague
- Customer support is insufficient
The Fund Trader’s claims of an 82%-win rate do not have proper proof based on our analysis of the service. Gordon Francis does not provide an adequate explanation of the strategy used and the verified results he posts reveal unrealistic data. The price of the subscription packages is exorbitant and despite the refund offer, it does not compare to the other similar services available now. In addition to these downsides, we find the lack of user reviews and insufficient customer support options further confirm our suspicions that this signal service is unreliable.