Funnel Trader Review

Oct 15, 2020 12:36 PM ET
Funnel Trader Review

Today’s review will be about quite a well-known robot that’s called Funnel Trader.

Funnel Trader

Type

Fully-automated robot

Price

$400-$800

Strategy

Trend trading

Compatible Platforms

MT4

Currency Pairs

AUDUSD, EURJPY, EURUSD, NZDUSD, and USDJPY

Timeframe

n/a

Recommended Min. Deposit

n/a

Recommended Deposit

n/a

Leverage

n/a

 

Funnel Trader EA presentation

The Funnel Trader EA is another robot designed by Leap FX. The presentation starts with the motivation speech that should force us to act here and now.

Funnel Trader EA results

The next we see are several screenshots of their 3rd-party verified trading results with the achieved results +2592%, +1506% of the account gain.

The devs introduced the robot using the next statements:

  • It’s a proven profitable system.

  • It performs a trend trading strategy.

  • It doesn’t require any special knowledge or trading experience.

  • Installation is easy to do.

Funnel Trader money-back guarantee

The EA sells for $400 and for $800. The first price looks like it for a limited license, but do we see any sign of how long it takes: a month, year? Both packages are featured by a 30-day no-questions-asked money-back guarantee.

Trading Strategy Explanation

The strategy is based on identifying a trend that’s short in time and opening trade in its direction. The system manages risks for all traded currency pairs. Also, it can close trades if they are not profitable anymore.

 

Funnel Trader Trading Strategy Explanation

There are several examples of how EA places trades.

Funnel Trader Trading Strategy Explanation

The explanations seem like the robot can open trades in both directions and close on that brings losses.

Backtest Data Analysis

The developers have decided that if we have myfxbook-verified trading results, we may not share backtests. So, it’s up to them. Let’s potential buyers decide if it’s okay.

Live Trading Data Analysis

Trading Results

Myfxbook Account

Real (USD), FX Choice

Started

Feb 25, 2016

Deposit

$5000

Balance

$19175

Gain

283.51%

Daily

0.08%

Monthly

2.65%

Drawdown

39.40%

Profitability

1.26

 

Funnel Trader myfxbook

It’s a real USD account with Track Record Verified results. Funnel Trader trades through FX Choice with 1:200 leverage (it’s FX Choice’s maximal) on the MetaTrader 4 platform. Absolute Gain is +283.51%. The monthly gain is very low (+2.65%) comparing to the maximum drawdowns (39.4%). The initial deposit was $5000. This account is so popular, so 435 traders track it.

Funnel Trader drawdowns

Anyway, for the last year, there were little drawdowns.

Funnel Trader advanced statistics

The robot has traded 16960 trades with 18332.8 pips. The average win in pips (27.50) almost equals the average loss (-34.75). Win-rate is very low and equals 57%. The average trade length is two days. The profit factor is little as well (1.26).

Funnel Trader advanced statistics

The EA focuses on trading AUD/USD, EUR/JPY, EUR/USD, NZD/USD, and USD/JPY symbols. The worst symbol to trade is EUR/USD (-$1194.80).

Funnel Trader statistics

The EA trades during all trading sessions almost equally. 

Funnel Trader statistics

The same picture we see on the weekly chart.

Funnel Trader statistics

The devs set the risks on the minimum possible level.

Funnel Trader statistics

The EA is designed to keep trades for three days. It’s such a weird decision. SL and TP levels are hidden or never placed.

Funnel Trader monthly gain

The last month of performing was May 2020. If we remove March’s results from the chart, the rest looks mediocre or even below the average.

About the person behind the EA

About the person behind the EA

Here the story of how a person is willing to make us reach and help us become successful people.

Funnel Trader customer reviews

The robot has little comments on the Forex Peace Army.

Funnel Trader comments

The negative comment was about the fact that the robot uses Grid and Martingale trading strategies. It’s the riskiest combination, but the most crucial disadvantage is we have to read emails not to skip when the dev writes that we have to close trades manually and stop the EA. The person experienced these cases and lost much money on these actions. If he didn’t do this, it’d be zeroing his account.

Review Summary

Pros

Cons

Real account trading results

No strategy explanations provided

 

Grid and Martingale strategies are sewn into the system

 

No backtest reports provided

 

Mediocre win-rate

 

Low “Profit Factor”

 

Overextended trade length

 

Trading was stopped in May 2020

 

High pricing

 

Negative review

 

We have to close trades manually during news impacts

Conclusion

As we can see, the EA has one pro and a wall of cons. Yes, the EA makes many profits on the real account, but there are many weird facts. Short-time-trend trades long three days. It’s not short-time trading at all. Funnel Trader doesn’t trade anymore. The customer said that we have to babysit the robot to not have huge losses during the news. As a cherry on the top is weird and high pricing.


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