Zen Scalper EA uses auto money management techniques and claims to provide 70-100% return on a deposit, trading with up to 100% accuracy. The developer states that it follows a profitable strategy and comes with 24/7 support from its side. We will review the product and cover all the pros and cons to see if it can be good enough to invest money in.
The robot comes with a monthly subscription for $59. Traders can also use it for a lifetime at an asking price of $249.
The developer provides the robot for free if investors choose to open a trading account with the broker of their choice and fund it with at least $3000.
There is no information available on the real developers of the system. Traders can only contact them through their email and by filling a form on the website. There are no addresses or telephone contacts available.
The robot has the following key features:
- It is compatible with both MT4 and M5 brokers
- There is a risk management option at hand
- The system comes with 24/7 email support
- The dev claims that the robot is 100% consistent
Zen Scalper EA trading approach
The robot uses a scalping approach to trade the markets on the M15 chart. There is no further information on the strategy, so we use the live records for analyzing the methodology. From there, we see that it trades on GBPUSD using both grid and martingale strategies. The average trade duration stands at 2 hours and 54 minutes, pointing to a day trading style. This goes against the scalping statement made on the website.
Backtesting results are available for GBPUSD and are tracked via Myfxbook. The relative drawdown was around 34.28%. The winning rate was 65%, with a profit factor of about 1.77. On the 15 minutes chart with a starting balance of $1000, the robot tanked an average profit of $24663.91 for this period. There were 2093 trades in total in which the best trade was $912, while the worst one was -$456.
Zen Scalper EA live trading results
Verified trading records are available on Myfxbook, where the performance records are public from October 25, 2021. The system made an average monthly gain of 2.07% for the period, with a drawdown of 92.13%. The stated drawdown shows us that the strategy used by the robot is highly risky and can cause a margin call on the account.
The winning rate stood at 68%, with a profit factor of 0.99. The best trade was $511.2, while the worst was -$1274.13 in a total of 535 trades. The developer made $7376 in deposits and $0 in withdrawals.
What are the risks with Zen Scalper EA?
We can observe the following risks while trading with the robot:
- The live records show us the use of extremely risky grid and martingale strategies
- There is a high drawdown on the account, which wipes almost all of the balance
- The developer is not clear on their whereabouts and experiences
A customer on Forex Peace Army dictates that while using the robot on GBPUSD, they have received a margin call on their account. Traders have to be careful while using the robot.
What are the pros and cons of investing in Zen Scalper EA?
|Multiple packages are available for purchasing||No transparency from the developer|
|A high drawdown|
|Uses a risky grid and martingale combo|
Zen Scalper EA Conclusion
Zen Scalper EA is not transparent on the strategy it uses. The developer has a high drawdown on their live account, not convincing us to buy the product. There is no live chat support available, as claimed by the author.