Lepechraun is a Forex robot that is said to trade well on currency pairs with good volatility. It supposedly makes 1% profit per day and over 25% monthly. The system can be used by both novice and veteran traders effortlessly since it is fully automated. You are advised to run the bot on the news or the American trading session.
The system was authored by Aleksei Zaitsev. This developer lives in Russia, but his qualifications, including his trading experience in the Forex market, are unknown. Aleksei has not developed any other tools apart from Lepechraun.
Here is a list of the system’s features:
- It is not sensitive to spreads or brokers, so you can work with any trusted broker.
- The recommended deposit is 10,000 cents USD ($100).
- It uses the H1 timeframe.
- If you are using a cent account, the advice is to work with a minimum lot—0.01.
- the system is designed to work on the MT4 or MT5 account.
Trading strategies and currency pairs
The system can trade on any currency pair, but its settings are mainly optimized for the XAUUSD symbol. With regard to the trading strategy, we are told the EA initiates trades automatically when the American trading session opens at 16.00 Moscow time. It usually places grids of orders based on the trend. It reverses the balance of trading positions and closes the entire grid of orders when the direction of the trend reverses.
According to this report, an initial deposit of $10000 was used to carry out 388 trades. However, the total net profit ($5787.36) produced was much lower than the investment. This means that the robot failed to break even. The profit factor of 1.05 also shows us how the system struggled to generate substantial income.
From the above stats, we see that a majority of the short positions were unsuccessful as they generated a win rate of 38.55% only. The performance of the long positions (81.34%) was favorable. Trading risks were relatively high, as demonstrated by a large drawdown of 49.65%.
Lepechraun trading statistics
The live trading statistics for this robot are not displayed. We also searched for similar results on Myfxbook but could not find any. This raises a red flag. From the previous section, it is obvious that the grid strategy on board is risky. So, the developer might be afraid that the EA will behave badly in the live market.
Pricing and refund
The price of this EA is very cheap. You need to pay $33 only to obtain a lifetime license. The vendor is not renting the product. A money-back guarantee is also missing.
What else you should know about Lepechraun
The EA has a 4.33 rating on mql5 based on 13 customer reviews. In general, traders indicate that the system is good and provides opportunities for growing profits. However, there’s a displeased user who accuses the system of draining accounts. This negative comment is written in Russian.