Bounce Trader Review – A LeapFx Forex EA
Bounce trader is another forex robot from LeapFX, a vendor that deals with several EAs. This EA trades on auto-pilot and does not require manual interventions.
In this review, our experts delve deeply to analyze Bounce Trader EA. We then tell you if this EA is a good choice. You get to see the performance stats and user reviews.
What is Bounce Trader EA?
Developers for this EA, LeapFX, sure have some lofty promises. They claim to be able to make you over 900% profit in just a few months. Note that LeapFX has several other EAs which they support. We have reviewed some like The Skilled Trader and Quick Scalper.
Bounce Trader EA is completely automated and runs on the MetaTrader4 platform. It opens, exits, and manages trades for you. It was developed by a guy called Charlie Hudson(we assume he is part of the LeapFX team), who claims to make a lot of money trading forex.
Bounce Trader Price Package
There are two packages offered for this EA. Some of the perks for purchasing this EA include auto-updates and EA settings for trading.
Bounce Trader Features
Some of the notable features of Bounce Trader EA.
- A single Trade at a Time
- Avoid using hedging, martingale, and grid strategy, which they consider risky.
- No Massive StopLoss
- All Trades are Protected with StopLoss and TakeProfit
- FIFO compliant
This EA claims to use 20% strategy and 80% trade management. They claim that without proper trade management, everything falls apart, even if a strategy is super accurate.
The website claims this EA uses 3 components that determine when an order is open and in what direction, either buy or sell it will move.
The three components include price action, key levels and momentum.
Price action: This approach works by examining the candlesticks’ highs, lows, size, and positioning. This helps the software predict the direction of the market.
Key Levels: The EA works by understanding and respecting the different levels of support and resistance in the market.
Momentum: The software works by determining overbought and oversold levels based on various momentum indicators. It helps the robot determine if a reversal of movement is coming.
Bounce Trader EA: Performance Stats
There are statements on the website about the performance that seems audacious. The site claims the EA can make a $100 Deposit grow by over 4,600% Profit in A Couple of Months! Let’s see if any of these statements hold any truth.
The developers have not provided any backtest results. However, we have found a real verified account for this EA on Myfxbook.
This EA was last updated in November 2020. Monthly growth is at 54%, while the drawdown is at under 23%. The initial deposit was $500, and the profit stands at $6,735. However, gain and absolute gain are similar, which shows the account owners shored up this account at some point. Again, the promise of a 4,600% gain is not fulfilled here.
Looking at monthly growth, the EA grew during the six months the account was live. Overall, the EA won 42 out of the 54 trades representing a 78% of the total trades
The trades conducted during this period are only 54 for the 6 months. We consider these to be very few trades for that timespan. However, this fits in with their mantra of 20% strategy and 80% trade management.
Bounce Trader Customer Reviews
We got some reviews from reputable sources. User feedback seems to believe that this EA is not worthwhile. The accounts seem to blow out at some point due to aggressive trading. This ends up winding up all your deposits.
The strategy used for this EA is not entirely clear. Prospective traders deserve transparency, especially for forex trader beginners.
On the real money accounts, the EA looks to be performing nicely for at least 3 months. However, as we have seen from user reviews, the account may blow out at some point, wiping out all your money. We believe this is due to the strategy used. More so, the fallacy of a profit margin of 4,600% seems more like a fallacy.
Finally, we recommend that you should not invest in this EA. Our readers should note that this is a high-risk EA. Invest only what you can afford to lose.