Cypher Pros QSL Strategy Records 88.40% 2025 Return in Independent Performance Examination
Alpha Performance Verification Services examined nearly two years of actual forex trading results for Cypher Pros’ QSL Engine Series, covering October 2024 through August 2026. The report also records a 36.63% return for January–August 2026. Reported returns are net of transaction costs and gross of management fees.
Cypher Pros (Cypher Pros Ventures, LLC), a developer of algorithmic currency-market software, announced that Alpha Performance Verification Services has completed an independent examination of the performance record for its QSL Engine Series Strategy.
The examined performance statement records an 88.40% return for calendar year 2025 and a 36.63% return from January 1 through August 31, 2026, net of transaction costs and gross of management fees.
Alpha Performance Verification Services examined the strategy’s performance record from October 14, 2024 through August 31, 2026. The independent verifier’s report, dated September 6, 2026 and signed by Michael W. Hultzapple, CPA, CFA, CIPM, concluded that the performance statement presents the strategy’s performance record, in all material respects, based on the criteria set forth in the accompanying notes.
Key results from the examined performance record
- 2025 calendar return: 88.40%
- 2026 return through August 31: 36.63%
- Maximum equity drawdown: 15.72%
- Maximum balance drawdown: 2.89%
- Trading activity: 3,073 trades
- Win rate: 64.66%
- Profit factor: 2.21
- Annualized Sharpe ratio: 2.12
Trade statistics, drawdowns, profit factor and Sharpe ratio reflect the full examination period from October 14, 2024 through August 31, 2026.
The reported returns represent actual trading results calculated using a time-weighted return methodology and include both realized and unrealized gains and losses. The Sharpe ratio is annualized from daily equity returns using a 4.3% risk-free rate.
Equity drawdown includes open positions valued at market, providing visibility into account declines that may not appear in closed-trade or balance-only statistics.
Transparency means giving people the information they need to judge our results for themselves,” said Matthew Fair, President of Cypher Pros. “That is why we had our trading performance independently examined. Anyone evaluating Cypher should be able to review the record, understand how the results were calculated and draw their own conclusions.
QSL Engine Series is Cypher Pros’ systematic currency-market technology built around ten independently calibrated subsystems, each associated with a G10 currency pair.
The automated strategy evaluates factors including momentum and volatility as market conditions change. It is designed to apply mean-reversion behavior in calmer, range-bound environments while adapting entries and position management during more volatile or directional market conditions.
Within an active position sequence, the strategy may add exposure after market conditions are reassessed and predefined criteria remain satisfied. This can increase exposure before the sequence is resolved.
The examined methodology describes risk controls at the currency-pair, portfolio and account levels, including position limits, correlation monitoring and an account-level drawdown threshold designed to close open positions and pause trading pending review.
Review the independent verification
The complete Independent Verifier’s Report, Statement of Performance and accompanying methodology and disclosures are publicly available at:
Cypher Pros Ventures, LLC develops systematic currency-market strategies and licensed algorithmic trading software designed to automate market execution and position management.
Clients maintain their capital within their own brokerage accounts and connect Cypher’s software through supported technology integrations. Cypher does not take custody of client funds, provide individualized financial advice or exercise discretionary control over client accounts.
