Forex System Report

PipsLeader is an expert advisor costing $87 and which trades on EURUSD and GBPUSD.

In testing on a demo account, this expert advisor made significant money over a period of two months (roughly doubled the $10,000 account).

My demo account started with $10,000 and was set to trade the minimum of 0.1 lots. However, this expert advisor opens multiple positions, so it was not unusual for the margin requirement to reach $5,000 or $6,000. It seems likely that eventually this expert advisor will get caught out by a large market move and that the trading account will be wiped out. It might be possible to manage this risk by removing profits from the account and taking the hit to recharge the account once in a while.

It turns out that this is an illegal copy of a freely available expert advisor called Divergence Trader. You can learn about the free version here.

This expert advisor works well if you can manage the large margin requirements and if you develop a careful money management strategy. However, don't waste your money - get the original free version instead.

In backtests, this is more profitable on the 5 minute timeframe (as recomended for Divergence Trader) rather than the 1 hour timeframe recomended for PipsLeader.

   Exceptionally strong avoid