Advanced Scalper is an FX robot that claims to use advanced exit algorithms for profitable trades. As per the developer, the expert advisor has been developed after many years of research and testing. It uses slippage control and spread filter features and is claimed to be completely customizable offering many setup formats.
This MT5 tool is developed by Wim Schrynemakers for Profalgo Limited. He is based in Malta and has more than 8 years of experience in developing EA. He has created 21 products and 48 signals. Support is through the MQL5 message board only. The developer does not provide details like location address, phone number, etc. which help in better support features.
You can buy this FX EA for $390. Rental options are present, which include a 6-months rental for $249, $199 for 3 months rental, and $149 for a one-month rental. No money-back-guarantee is present, which makes us suspect the product is not reliable.
As per the developer, the important features of this FX Robot include SL for each trade, advanced SL management, filters for spread protection to avoid trading in bad market conditions, an algorithm for slippage control, and an exit strategy that can be applied on manual trades as well as the trades you do on other EAs. The developer recommends using a minimum balance of $150 and brokers with fast execution, low commission, and low spreads. According to the developer, the EURUSD, GBPUSD, and USDJPY are the main currency pairs that EA can work best on.
Advanced Scalper trading approach
Other than the name of the EA indicating it is a scalper, the developer does not divulge info on the strategy. The lack of info on the trading approach raises a red flag. As per the developer, the FX EA uses a high/low breakout feature for calculating the precise entry points. He recommends the use of the H1 or H4 timeframe. This ATS can also be used with other FX robots for entry point identification.
A backtest report done from 2014 up to 2018 is displayed on the MQL5 site. The strategy tester report for the EURUSD pair using the H1 timeframe shows a total net profit of 292.63 and a profit factor of 3.23. The maximum drawdown was 0.11% and profitability was 95.54%. Modeling quality of 95% was used, which is not sufficient to know about details like slippage, commission, spread, etc. From the results, we can see that the profit is not high indicating a below-average performance.
Advanced Scalper live trading results
We found a real EUR account for this EA using the Infinox Capital broker on the Metatrader 4 platform with the leverage of 1:300.
From the trading stats shown in the screenshots above, the total profit is 1709.59% and the absolute profit is 629.27%. The difference between the two values is very high indicating an ineffective trading approach and poor performance. A drawdown value of 22.90% is present and the daily and monthly profits for the account are 0.14% and 4.34% respectively. Profitability of 75% is present for a total of 6318 trades executed since January 2016.
For this account, the profit factor is 1.34, and the lot size used is high, varying from 2.66 to 5.25 and more. Comparing the backtest results with the real live account results we can see a big difference between the two. The drawdown is higher while the profit factor is lower in the real trading results. It is obvious that the performance is worse than seen in the backtesting.
What are the risks with Advanced Scalper?
From our evaluation of the features, strategy, track record, support, and other factors we find this is not a reliable trading tool. The main risk you may face with this FX EA are:
- Lack of vendor support
- Ineffective strategy
- Poor performance
- Expensive price
We found 20 customer reviews for this FX robot on the MQL5 site. From the reviews, it is obvious that the performance is poor as our analysis has revealed. Feedback from users indicates the expensive price and poor profits as major drawbacks for this EA.
What are the pros & cons of investing in Advanced Scalper?
|Fully automated EA||The strategy is not explained|
|Can be used for manual trading||Poor performance in live trading results|
From our assessment of the pros and cons, we find that this is not an EA worth investing in.
Advanced Scalper Conclusion
Advanced Scalper fails to provide proof of its performance. While the developer claims the system has good risk management potential, the real trading results are to the contrary. The insufficient support options, lack of strategy explanation, and expensive price are other downsides that further confirm our opinion that this is not a trustworthy EA.