Stealth Trader claims to provide high rewards and low risk with its automated and unique setting. The FX robot works mainly on the GBPJPY pair and as per the vendor has made more than 1,250% profits in more than a year. A 100% hands-free system, verified account, and safe to use on any size account are the main characteristics of this ATS.
Stealth Trader: to trust or not to trust?
Aimed at benefiting the beginner trader and seasoned traders, this FX EA assures a tested and proven system that works effectively on the GBPJPY pair. The developer, Greg James assures regular and consistent daily profits with the system since Fall 2020. He promises 1,250% profits in nearly 2 years with the FX robot.
Backtests and verified real trading results are present to prove the efficacy of the system. Does the info provided make the ATS a trustworthy system? We have analyzed all the crucial aspects of the FX EA in this review to check the veracity of the vendor’s claim. Let us see the features first before we analyze the key aspects that influence the EA’s trustworthiness.
Features
Some of the key aspects of this MT4 tool that the vendor focuses on are:
- It is a 100% hands-free system that does not require your involvement.
- The robot is designed to trade with minimal losses and maximum profits.
- It does not use grid or Martingale method.
- The MT4 tool works on the GBPJPY pair only.
- All settings are auto-optimized with no adjustments required except for selecting the risk.
Pricing of the system is in the form of two packages, an annual membership, and a lifetime membership package. The annual package costs $347 while the latter costs $597. Both packages include free updates, customer support, best settings recommendations, and a money-back guarantee of 30-days. When compared to the market average, we find the pricing is expensive.
After evaluating the features, we have determined the significant advantages and disadvantages of the FX robot which include:
- Verified trading results
- Vendor transparency
- Strategy effectiveness
Verified trading results
A live real EUR account using the IC Market broker and verified by the myfxbook site is present for the FX robot. The account using automated trading and the leverage of 1:100 on the MT4 platform is shown here.
From the above stats, it is clear the system has generated a total profit of 1,266.79%. The daily and monthly profits for the account that started in July 2020 are 0.41% and 12.98% respectively. A drawdown of 28.89% is present. The absolute gain value is 72.18%. We find the huge difference between the total and absolute gain suspicious. Further, the vendor does not reveal info on the balance, deposit, withdrawal, lots, etc.
The hidden data raise suspicion about the reliability of the system. Further looking at the growth curve we see the growth is not consistent with regular ups and downs indicating a risky approach and poor money management. Another factor to note here is that the track record is not verified and only the trading privileges are verified.
Vendor transparency
Greg James is the developer of this FX EA. He is the co-founder of a popular online trading platform that partners with social and copy trading firms in Europe and Asia. For the past five years, the developer has been focusing on making this FX EA a successful trading tool. The LeapFX company promotes this product. We could not find company details like founding year, location address, phone number, etc. For support, the vendor provides an online contact form.
Strategy effectiveness
The developer does not divulge the strategy used by the system. Instead, he mentions that it is a non-grid and non-Martingale method which does not explain much about the approach. A few backtesting results are present. Here is one of them:
From the above backtest, we can see the test was started in January 2018 and ended in March 2022. For an initial deposit of $2,500, the daily and monthly profits were 0.05% and 1.43% respectively. A drawdown of 10.49% was present.
From the growth curve, we can see the account has increased but with several downturns. A total of 1,060 trades were completed with a profitability of 77% and a profit factor of 1.39. The lot size used varies from 0.10 to 0.40. From the big and varying lot sizes and the irregular growth, we find the strategy is risky and ineffective.