It is good to work for money. It is better if that money, too, works for you. All those who understood this helped evolve the age-old practice of lending, over the years, into a more ingenious and a nifty concept called investments.
It may sound clichéd, but time indeed is money and man has devised various methods to measure that time value of money. He has learned to discern the opportunity cost involved among his various financial choices. Every passing decade has introduced us to a variety of avenues of investments. While a few of those avenues may not have stood the test of time, most of them have developed from being a mere idea to a robust, concrete and a lucrative product. For example, a simple idea of providing service of a professional fund manager to a layman investor germinated into a concept of mutual funds.
Technology has played an extremely crucial role in the progress of financial markets. The concept of the internet has brought together the investor and the investee from far corners of the world. It has made available information of all kinds to both the investor and investee and has helped them do due diligence and make informed decisions. However, the ever-evolving financial market is always in need of data that is not just accurate and exhaustive, but one that is lucid and available real-time.
Various methods such as bar charts, graphs, peer comparisons, valuation pointers, etc. have been reviewed and revised over time by experts, to present the information in a concise form, to enable investors to take timely decisions. One such market that requires such an efficient information infrastructure is the Forex Market and the Crypto-currency market.
The Forex Market comprises of trading of a single currency for another at a specific price. It merely means buying one currency and selling the other. Forex transactions are usually quoted in pairs because, when one currency is bought the other is sold. For eg: USD/GBP, INR/JPY, etc. The first currency is called the base currency and the second, quote currency. Currency prices are determined by a host of economic and political conditions, most importantly rate of interest, inflation, international trade, etc.
Cryptocurrency is a digital currency or virtual currency that is secured by cryptography. Unlike the conventional currencies, the cryptocurrency does not have a centralized regulatory mechanism viz a central bank, etc. Such currencies are operated through a distributed ledger technology called a block-chain which serves as a public financial database.
About The Product
The forex and the cryptocurrency market are served by a variety of participants viz trading platforms, brokers, account managers, banks, regulatory bodies, etc. Each of the participants provides various services. The service depends on their expertise and the category of the market that they wish to serve. It can be very confusing and challenging to choose from so many different trading platforms, brokers, account managers, etc. for a beginner who wishes to enter the forex or cryptocurrency market.
- Brokers who meet the industry standards of best practices, the range of services each of them provides.
- Automated trading systems – known as FX bots, their specifications, how those specifications shall help different traders based on their risk appetite.
- Virtual Private Servers (VPS) – a remote system that hosts trading platforms and dedicated to trading with 99.9% uptime and built-in redundancies. Redundancies are alternate systems backup instilled into a system architecture that gets activated in the event of a crash of the primary system. A trader can access one of the recommended VPS using an internet-enabled device.
LeapFX is the process of preparing a pool of expert fund managers who meet the necessary qualifications and experience and can manage accounts for traders who have just entered the forex or the cryptocurrency market.
Features of LeapFX
LeapFX designs different automated trading programs with built-in various risk management strategies that cater to traders having varying needs. Some of them are Arbitron, Quick Scalp Trader, News Action Trader, etc.
LeapFX develops FX robots that aid traders make quick profits without having to invest much time and effort into analyzing the market trends. Forex bots are capable of analyzing and scanning numerous charts in a way that humans can’t. These robots are devised with set parameters needed in making trade decisions. They have trading signals implanted in them which gets triggered on favorable price movements and sends out trading alerts to a trader.
The trading system developed by LeapFX is known for its consistent profits and low drawdown.
Drawdown refers to the difference between the high point in the balance of a trading account and the next low point after a series of bad trades. If a trader begins to trade with a balance of USD 100,000 and suffers a loss of USD 5,000 after a series of bad trades, then the trader incurs a drawdown of 5%. Drawdown helps one understand the likelihood of survivability of a trader or a trading system in the long run. In short, it is the extent of losses a trader can see through before he hits a purple patch. Thus, lower the drawdown, longer is the survivability of the trader in the market.
How Does LeapFX Work
LeapFX has designed variously automated as well as manual trading software based on different trading strategies.
- Power Trader
The Power Trader system is designed on the basis of the price action strategy. A price action strategy is a trading technique in which a trader decides a trade based on recent price changes rather than just relying on technical indicators. He may rely on historical bar charts, price bands, support and resistance levels, price volatility and trade accordingly. Thus, such trades are usually subjective to the analysis of historical data of every trader. The Power Trader employs this strategy and identifies accurate trading signals and provides trade alerts to make a profit in the short term as well as long term. This software helps you trade in all currency pairs. It is the only system that allows manual trading for forex and crypto market.
- Quick Scalp Trader
The Quick Scalp Trader employs the scalping strategy. Scalping works on a principle of booking profits as and when it accrues instead of waiting for it to a compound to a huge figure. A Scalper never stays invested for a long time. Instead, he trades in very short terms and opens and closes as many positions as he can. This enables him to make tiny profits in every trade. However, the continuous practice of doing so allows him to accumulate a sizeable figure steadily. This software gives information about EUR/USD and GBP/USD.
- Econ Power Trader
The Econ Power Trader is built around the news trading strategy. This strategy revolves around identifying profitable trades based on the latest news in the forex market. This software lets you trade in a few currency pairs such as AUD/USD, EUR/USD, GBP/USD, NZD/USD, USD/CAD, USD/JPY.
Arbitron trader relies on the principle of arbitrage trading. Arbitrage works on the speedy discovery of price differences between two currency pairs and making profits on the spread of the same. Let us understand arbitrage with an example.
Assume following are the quotes of various currency pairs that are prevalent currently:
1 EUR = 1.1837 USD
1 EUR = 0.7231 GBP
1 GBP = 1.6388 USD
Trade 1 – Buy EUR 10,000 using USD 11,837 (10,000*1.1837)
Trade 2 – Buy GBP 7,231 (10,000*0.7231) using EUR 10,000
Trade 3 – Buy USD 11,850.61(7231*1.6388) using GBP 7,231.
You started the trade with USD 11,837. You ended up making USD 11850.61 at the end of three trades.
To make such profits, you need to be extremely quick in discovering the pricing inefficiencies between two currency pairs and book trades before the inefficiency is levelled out. Arbitron not only helps identify arbitrage opportunities but also predict them based on the price feeds or competing brokerages.
- Star Trader
Star Trader employs the strategy of the Relative Strength Index (RSI) and Commodity Channel Index (CCI) simultaneously.
RSI analyses historical price movements and indicates if there are any chances for reversals in the price direction of the particular asset class. When the price of an asset class rises excessively in a given time period, this indicates that the asset class is overbought. In such a scenario, there could be a reversal in the price movements shortly. The trend of reversals is also called a correction. Similarly, if the price of an asset class has depreciated beyond a considerable average, an upswing can be expected at any moment.
CCI measures the current price level of an asset class relative to an average price level over a given period. This CCI is relatively high when prices of an asset class are way higher than their average, and are relatively low when they are way lower than their average.
The Star Trader provides information on USD/JPY, GBP/USD, EUR/USD, AUD/USD
While the Power Trader is a manual trading system, the rest all are automated trading systems commonly known as FX bots.
Is LeapFX Easy to Use?
LeapFX bots provide maximum information with minimum effort to be put by traders. Thus a trader may not resort to proper research, reading and analyzing market trends and would hardly attain any knowledge in the market.
Purchase & Price
A lifetime license of Power Trader is sold for USD 77 only. You can avail of a yearly subscription of Quick Scalp or Econ Power Trader for USD 297. A lifetime license for both the software comes for USD 497. The Arbitron trader has a 3-month subscription plan for USD 347 and a lifetime license plan for USD 799. One Year Subscription to the Star Trader comes for USD 197 and a lifetime license for USD 297.
All the trading software, except for Power Trader, comes with a 30-day money-back guarantee.
- What is LeapFX?
LeapFX is a website that recommends automated trading software for trading in the forex and cryptocurrency markets. Additionally, it also recommends brokers, Virtual Private Servers and account managers of the same market.
- What are the modes of subscription to LeapFX?
You may either opt for a yearly subscription or a lifetime subscription.
- What if LeapFX does not fulfill my expectations?
You shall be eligible for a refund within 30 days from the date of purchase of the software.
- What are the types of forex trading systems?
Forex trading systems recommended by LeapFX fall under two broad categories.
– Manual Trading System
– Automated Trading System
- What is the difference between the above two categories?
The manual trading systems provide only trading cues or alerts based on an in-depth analysis of available information. The trader shall have the discretion to execute the trade.
The automated trading system not only analyses necessary information but also executes trades based on set criteria.
- Is one sure to earn profits on the subscription of the forex bot?
Although, it cannot be guaranteed that one shall always make profits, however, one can be assured of making informed decisions while booking trades.
- How reliable are the recommendations on LeapFX?
LeapFX conducts a three-step program before they recommend brokers, systems or account managers to you.
– They first conduct an in-depth interview of the developer, their systems before they are recommended to you.
– Past trading records of those developers and their systems are sought and verified for any discrepancies in their method of trading.
– Finally, the developer, along with his system, is set on a new live account and extensively monitored to ensure that the performance matches the claims made.
Pros and Cons of LeapFX
- Trading will strictly work on set parameters and not based on any emotion
- Strict imposition of Stop Loss and other trading strategies, thus minimizing losses.
- Suitable for traders who are new to the forex market.
- Open and closes trade positions based on accurately devised parameters.
- No need to spend hours staring at bar charts and price movements and trying to analyze the same.
- Designed by professionals who have had years of experience manually trading in the forex market.
- It does not yield to panic prevalent among traders.
- Unable to adapt to the changing market situations.
- Some bots end up being scams.
- Too rigid to set parameters may lead to loss of profits in case of an unexpected upswing.
“I had restricted myself to the options market for the last 25 years. I never understood forex. I never had anyone to explain to me the intricacies of the forex market. I came across Power Trader a couple of months back. I regret not having discovered this piece of magic earlier. I have nearly doubled my monthly income that I usually earn from the options market. “ – Steve Burkin, 57 years. Cheyenne, Wyoming
“I was laid off last year after putting in 20 years in the hospitality industry. It was difficult for me to make ends meet. My wife had sought early retirement due to health reasons. We were really worried about our livelihood. My wife even thought of taking up odd jobs until she came across the Arbitron Trader one day. We put in a big chunk of our retirement compensation into the forex market about six months ago. Today I make enough money to provide the medical facilities to my wife. I am content.” – Micheal Smith, 62 years, Orlando, Florida.
“I have been working with a corporate in an accounts department for the last 5 years. Life had gone dull with not much scope in my company. Although I had job opportunities, I could not shift out of Kansas as I had old parents to take care of. My cousin introduced me to Quick Scalp Trader about a couple of months ago. I have made a fairly decent money in a short span. I do not get enough time to spend on the system due to my official commitments. I may think of taking off an easy going part-time job and dive into forex market full time” – Pamela Hernandez, 32, Duluth, Minnesotta
Recommendations of LeapFX are undoubtedly advantageous to novice traders, who do not have bulk capital and thus cannot afford to commit blunders in the highly volatile forex market. However, in the long run, it is certainly advised that traders do their own research deeply, as well as consult professional account managers and not just solely rely on the automated trading system.