The FX PostThe FX Post
    What's Hot

    FlatQube Trade Volume, Trade Pairs & Trust Score

    November 7, 2022

    Step Guide to Winning Forex Trading

    September 19, 2022

    Relationship Between Currency Risk and Foreign Bonds

    September 2, 2022
    The FX Post The FX Post
    • Best Fx Robots
    • Forex
      • News
      • Forex 101
      • Forex Forecasts
      • Broker Reviews
    • Crypto
      • News
      • Crypto 101
      • Crypto Forecasts
      • Crypto Reviews
    • Indices
      • News
      • Analysis
      • Commodities
      • Reviews
    • Automated Trading
      • Forex Signals
      • Forex Robots
      • Copy Trading
    • Top
      • Best Forex Robots
    The FX PostThe FX Post
    Home ยป Advanced Scalper Review: Is It a Good Robot to Buy In 2021?
    Automated Trading Forex Robots

    Advanced Scalper Review: Is It a Good Robot to Buy In 2021?

    August 23, 20214 Mins Read
    Facebook Twitter Pinterest LinkedIn Reddit
    Advanced Scalper
    Share
    Facebook Twitter LinkedIn Pinterest Reddit

    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. 

    Markets are invaded by algorithms
    Secure your passive income with algo-based trading systems
    Learn more

    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.

    Key features

    Main features of Advanced Scalper
    Main features of Advanced Scalper

    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.

    Backtesting results

    Backtesting results of Advanced Scalper
    Backtesting results of Advanced Scalper

    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. 

    Growth chart of Advanced Scalper along with real trading stats
    Growth chart of Advanced Scalper along with real trading stats
    Advanced trading stats and trading history of Advanced Scalper
    Advanced trading stats and trading history of Advanced Scalper

    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

    Worth noting!

    User claiming the results are poor
    User claiming the results are poor
    User complaining the real trading results are not as seen in the backtest
    User complaining the real trading results are not as seen in the backtest

    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?

    ProsCons 
    Fully automated EAThe strategy is not explained
    Can be used for manual tradingPoor performance in live trading results
    Expensive price

    From our assessment of the pros and cons, we find that this is not an EA worth investing in.

    Markets are invaded by algorithms
    Secure your passive income with algo-based trading systems
    Learn more

    Advanced Scalper Conclusion

    42% Summary

    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.

    • Features 5
    • Pricing 4
    • Strategy 4
    • Performance 4
    • Reliability 4
    Share. Facebook Twitter Pinterest LinkedIn Reddit

    Related Posts

    FlatQube Trade Volume, Trade Pairs & Trust Score

    November 7, 2022
    social trading

    Best Social & Copy Trading Platforms

    June 30, 2022
    Gunbot Review: Pros, Cons, Recommendations
    5.3

    Gunbot Review: Pros, Cons, Recommendations

    June 28, 2022
    Smart Crypto Bot Review: Pros, Cons, Recommendations
    4.6

    Smart Crypto Bot Review: Pros, Cons, Recommendations

    June 27, 2022
    Add A Comment

    Leave A Reply Cancel Reply

      +  68  =  72

    Best FX Post
    Best Forex Robots (Expert Advisors) 2021

    Best Forex Robots (Expert Advisors) 2022: Passive Income From Algo Trading Systems

    July 7, 2021

    Top 10 Lending Platforms for Crypto Loans

    June 1, 2022
    forex eurusd trading charts

    Top 10 Best Forex Brokers In All Times

    June 1, 2022
    Recent Posts
    • FlatQube Trade Volume, Trade Pairs & Trust Score
    • Step Guide to Winning Forex Trading
    • Relationship Between Currency Risk and Foreign Bonds
    • Best Social & Copy Trading Platforms
    • Bitcoin Dips Listed Below $20,000 With Fundstrat Considering ‘Last Washout’
    Featured Reviews
    TechBerry

    TechBerry Review: Pros, Cons, Recommendations

    September 18, 2021
    CryptoHero

    CryptoHero Review: Pros, Cons, Recommendations

    June 3, 2022
    Bitsgap

    Bitsgap Review: Pros, Cons, Recommendations

    April 29, 2022
    Categories
    • Analysis
    • Automated Trading
    • Best FX Post
    • Broker Reviews
    • Commodities
    • Copy Trading
    • Crypto
    • Crypto 101
    • Crypto Bots
    • Crypto Forecasts
    • Crypto Reviews
    • Forex
    • Forex 101
    • Forex Forecasts
    • Forex Robots
    • Forex Signals
    • Guides
    • Indices
    • News
    • News
    • News
    • Reviews
    • Reviews
    • Uncategorized
    Twitter BlogLovin
    © 2023, Thefxpost.com.
    • Contact

    Type above and press Enter to search. Press Esc to cancel.