Today our review is dedicated to the Forex expert advisor that is seen as fair by most of the traders. Our experts will expound on this EA, whose developer is FX Automater ream. FX Automater has also developed other robots named Smart Scalper Pro, Gold Scalper Pro, Omega Trend EA, BF Grid Master EA, and many others. BF Scalper Pro is advertised as ‘one of the most successful expert advisors’ coming with many different features in conjunction with ‘pure and simple trading logic’. Its developers believe this trading system sets itself apart from the other FX EAs because of its ‘highly effective exit logic’, ‘advanced news filter’, ‘volatility filter’ and ‘high spread, slippage and broker protection’.
Their website is easy to navigate and, a rare thing for most Forex robots, it includes all the necessary information we need to analyze the system properly.
Interested in the system, traders can buy the robot for either $137 or $197, depending on if the discount price is offered. We have also noted that the previous price of the robot was $147 (without discount). A digital copy of the robot provides access to 1 real and 3 demo accounts, full-time customer support, and a 60-day money-back guarantee.
To get in touch with support traders need to fill out their online contact form.
Key Features
Let’s talk about the key features of this ATS:
- This expert advisor works fully automatically on our trading account
- The recommended time frame is M15
- It trades on MT4 terminal
- The robot works with any broker with four or five digits price quotes
- For safe trading, ECN brokers with tight spreads are recommended by the developer
- The developer claim the robot comes with solid 18 years backtest results (we will check it later)
- It has all-new Exit Logic that decreases drawdowns
- Its money management system allows traders to set desired Stop Loss for various market conditions
- It also includes a Loss Recovery function called Recovery Mode. In case of loss, the system increases the lot size of every new trade with, according to the vendor, ‘small amounts until the last loss or previous losses are compensated completely’. It means that the system uses Martingale to recover.
- The expert advisor sets SL and TP for every open deal
- The default settings are set for trading GBPUSD pair
- The system supports multiple currencies: EURCHF, EURAUD, GBPCAD, USDCAD, EURCAD, USDCHF, GBPUSD, EURUSD, and USDJPY
- There are ‘.set files’ for each currency pair
- It has a Friday exit system, meaning all trades will be closed before the weekend
- We are told that the robot trades with low drawdowns
- It comes with an advanced news filter to avoid opening new trades during high-impact news periods
- The system also comes with email and push notification systems
- It has high spread, slippage, and broker protection systems
- We have to set our trading hours according to our broker GMT offset
BF Scalper Pro Trading Approach
The main trading strategy is scalping. However, there is a grid strategy behind it. It is disabled by the default settings. The developer also points out that traders can use normal Grid, Grid with Martingale risk policy, and in a more aggressive way. Using Martingale, Grid, and Scalping approaches is an insane risk for any trading account.
Backtesting Results
The dev provides 6 backtest reports performed for different currency pairs. Let’s analyze one of them in detail. This is a backtesting report for a GBPUSD currency pair. The test has been run for mostly 4 years. It traded on the M15 timeframe. The modeling quality was 99, 90%. The spreads were variable. There were 87242 bars in the test. The account was deposited at $1000. It could generate $2953. 28 of profit. The win rate was 70. 08% based on 966 trades performed. The maximum drawdown was 11.03%. The profit factor was 1,80.
BF Scalper Pro Live Trading Results
This is a live trading result of the trading account run by BF Scalper Pro expert advisor. It’s a Demo account trading under IC Markets brokerage with a 1:500 leverage on MT 4 terminal. It launched the myfxbook.com website on March 20, 2019, and was deposited at $1000. For 2 years of trading activity, the total gain of this trading account reached 125, 52% with average daily and monthly gains of 0, 10%, and 3,02% respectively. The absolute gain equals the total gain – 125, 52%. The peak drawdown is 29, 35%. BF Scalper Pro has generated $1255.21 of profit and the balance of this trading account equals $2, 255.21.
Out of 2235 transactions, the robot could win 1539. Its average win rate is 69%. The win rate for long trading positions is slightly higher than the one for short time positions: 72% and 64%. There are better FX trading tools that make a higher average win, which says a lot about their ‘advanced’ trading algorithm. The average loss is higher than the average win: -10.57 pips/-$7.93 and 7.58 pips/$4.40, meaning that the risk-reward ratio is 2:1. Its profit factor is not high – 1,23 and it is lower than the one we could see in the backtest report. The average trade length is 10 hours without a quarter.
It is focused on trading GBPUSD pairs (396 trades). However, its best trading results are achieved with GBPCAD – $309.97.
TP levels are hidden from a broker. The EA uses not only Grids of several orders but also Martingale.
There is nothing to talk about its 2021 trading results:
What Are The Risks With BF Scalper Pro?
This EA is an interesting trading tool that has some caveats:
- With the program offering high and steady results, the gains are modest at best
- We are concerned with the drawdown of the EA trades, as it looks dangerous for the account balance
Worth Noting!
Unfortunately, we couldn’t find any customer reviews on reputable third-party websites like Trustpilot or Forex Peace Army. Oddly as for the EA, that has been in the market for years.
What are the Pros & Cons of Investing in BF Scalper Pro?
Although the robot looks like an interesting investment solution, it has a list of advantages and disadvantages every trader has to consider before investing in it:
| Pros | Cons |
| Backtesting and live trading results provided | The robot works on the demo account |
| Settings for every currency pair provided | Low profits with medium drawdowns |
| 60-day money-back guarantee | Martingale on the board |
| No customer reviews |
BF Scalper Pro Conclusion
Although the robot looks like a good investment solution for the price it sold for, traders should have an ECN account running on VPS. It’s not a secret that ECN accounts charge commission for 1 lot. Therefore, traders should have a high account balance to trade. We would like to see client feedback and hear about their trading results achieved with this EA before we provide a final recommendation.
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Features
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Pricing
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Strategy
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Performance
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Reliability
