Elite Forex Scalper is scalping software that was designed by an Elite Forex company. The presentation looks short, but there are many widgets from myfxbook and fx blue-verified accounts.
There’s a team of professionals who’s been working on the Forex market for over six years.
The devs promote several brokerage houses.
Elite Forex Scalper: Characteristics
- The robot executes the deal fully-automatically.
- There’s a risk protection system that protects from large and long-term drawdowns.
- Elite Forex Scalper allows everyone to be profitable even without previous trading experience.
- It works with most brokers.
- It’s easy to set up EA.
- The robot performs trade 24/5.
- The minimum deposit to trade with 0.01 Lot Size should be $300-$500.
- The recommended deposit is from $3000.
- The optimal leverage should be from 1:500.
- VPS is required to run the EA all time.
Currency Pairs, Strategy & Timeframe
- The EA is a mix of Scalping, Hedging, Grid, and conservative Martingale strategies.
- It works on the M5 time frame.
- It trades EURUSD, GBPUSD, XAUUSD.
Elite Forex Scalper Trading Performance
There’s no backtest report, only info about how it was produced in MT4 based on the past data.
From the video, we know that it was a EUR/USD test on the M5 time frame. An initial deposit was $1000. It became $14593.28 of the total net profit. The Profit Factor was 5.88. The robot could close 277 deals.
The robot runs a real USD account on FBS automatically by using technical indicators in its trading. The leverage is 1:500. It works on the MetaTrader 4 platform. The account has a verified track record, but there’s still a lack of transparency. It’s not professional to sell something and cover intel from potential customers. The account was created on December 01, 2019. Since then, the absolute gain has become +130.63%. An average monthly gain is +6.94%. The maximum drawdown was not so high and amounted to -14.09%.
The EA focuses on trading EUR/USD and GBP/USD. The SELL direction has brought only losses. EUR/USD has -636.5 pips of the profits. GBP/USD is a twice often traded symbol 4176 deals, and it’s profitable. Several deals on Gold have been closed with huge profits in pips – 5625.
Elite Forex Scalper trades mostly during a European trading session and just a bit of the midday of an American trading session.
The most-traded days are Tuesday and Thursday.
The EA works with little risk to the account balance.
The robot uses Grid increasing Lot Sizes (Martingale) at the same time. It’s an impossibly risky way to trade Grid.
2020’s profitability has its ups and downs from 13.43% monthly to 2.17%.
How much does it cost?
There are two ways to get the EA. The first one is for free.
We have to register an account using their referral link and deposit it at at least $3000.
After that, we have to fill the form and wait for approval trading on our real account.
The second way is to pay $249.99 for it instead of $499.99. The pack allows trading on one real and two demo accounts. There are EA’s files, user guides, videos, and lifetime access to support.
Reviews from customers
There’s no page of Elite Forex Scalper on Forex Peace Army, but there’s a page of Elite Forex on Trustpilot. Their rate is 4.8 from 5, based on 57 comments.
People are happy to use their services and products.
Should You Use Elite Forex Scalper?
| Pros | Cons |
| Strategy is explained | No team revealed |
| Real-account trading results provided | No backtests provided |
| Medium pricing | Risky strategies on the board |
| It’s available for “free” | Grid + Martingale at the same time is so risky |
| There are many positive testimonials | Lack of real account transparency |
| No money-back-guarantee provided |
Conclusion
Elite Forex Scalper is a risky trading solution. There are several issues behind this. First, it uses Grid and Martingale at the same time. So, there are high chances that the Grid of orders will be closed with a huge loss because of different Lot Sizes. Second, the EA is not cheap to buy without a money-back guarantee. Third, as for EA that works for thirteen months, there is a huge lack of people feedback about its performance on the web.
XTB
