Econ Power Trader Review

Econ Power Trader Review

Econ Power Trader is a foreign exchange expert advisor invented to help the traders make more profits. The EA aims to prevent the trader from making mistakes in forex trading that cause them to lose money and guide them in the right direction. 

However, is it capable enough?

Offered Plans

LeapFX Support, the vendor of Econ Power Trader offers two plans.

• 1-year license for $297.
• Lifetime license for $497.

By signing up for these plans, you receive –

• Instant software download.
• Software updates.
• Detailed manual.
• Best settings.
• Recommendations.

Before selecting any plan, you can try it for free for 30 days. If you are not satisfied with it, then the vendor promises to refund your money instantly. However, many vendors promise it for promotional purposes. There is no assurance of this statement being true. 

General Characteristics

The developers of Econ Power Trader demand it to be beneficial for traders due to its several properties:

• It can help you make a profit of more than 100 pips at a time.
• On the contrary, the average loss is not more than 15 to 20 pips.
• It has a double trailing stop protection. If the trader continues to lose money and still does not stop trading, then the system will intervene and make the traders stop.
• It does not use the grid, martingale, cost averaging, or leverages.

Steps to Start Trading on Eco Power Trader

Traders that sign up for Econ Power Trader get instant access to the EA and receive its services. Inexperienced users can start their trading experience with a small account. 

• After accessing the software, the user can set up a demo or live account. It allows the users to switch between accounts as required. Using a simple installer, the software offers an automatic set up.
• Following the installation guide, the traders can run the software on their systems.
• The team of Leapfx maintains direct contact with the customers to offer them support at any time.
• The EA keeps track of the changing market and provides the traders with essential updates on the volatile market.

Trading Strategy

The developer has not revealed the trading strategy, which has left the room of doubting the capability of this EA. However, Leapfx mentions that updating the traders about the changes in the market is its main strategy so the trader can take the right decision at any time.

Trading Results

Econ Power Trader registered its Myfxbook account in May in 2018. The trading style is not specified on the account. The trading chart shows the growth and equity growth and also provides us with other important data. Track records and trading privileges of the chart is verified.

The trading started with $500 deposits and no money has been withdrawn since then. It demands to maintain equity of 100%, which is a bit strange judging by the fact that it has 39.49% dropdown. Although it has a good gain record of +1749.28%, it has decreased now. Daily gain is only 0.62% now, which is not convincing. The chart was updated last on August 1, but it must be updated every day. The old results cannot be trusted unless we can view the current results. Moreover, this is a demo account, not live. So, regardless of all verifications, this chart is not trustworthy/

Now, let us look at the current results.

All the trading results of this year, this month and this week are hidden. We cannot view any of the gain, profit, pips, win percentage, trades or lots. It is very suspicious that the latest data is hidden from the viewers. 

Reviews from Customers

We cannot find any review on Econ Power Trader, which clearly shows that people are not trusting this EA yet and not using it. We will need to wait for the pro traders to use this EA to get expert reviews. However, we have found a review on the Leapfx, the developers of Econ Power Trader from a reliable source.

A registered user from Spain states that Leapfx is rubbish, a waste of money and their EA is useless. We can trust these words as they are coming from a registered user. He has posted this review on May 22 this year, which explains the current situation of the forex robot.

Final Thoughts

Judging from the trading results and scarcity of customer reviews, we do not recommend traders to use this forex EA. Although it promises so many features, the results prove it to be useless.