Forex Scalping is a fully-automated trading advisor. The presentation is short and highlights only a few pieces of information that we want to know about how the system works. The site has a 1999 design that looks awkward.
Forex Scalping EA: Characteristics
There are not so many features, settings description, and other intel to discuss:
- The system is a fully-automatic trading solution.
- It was originally designed for running on MT4.
- The system has received backtest reports that proved its profitability on the past 20-year tick data.
- The modeling quality of the tests was 90.00%.
- During trading activities, the robot follows the trend trading direction.
- The trading frequency is quite high.
- The open trades usually get closed for several hours, not more.
- The system should be used on an ECN account with low spreads.
- VPS is a must because of increasing market execution time.
Currency Pairs, Strategy & Timeframe
- The expert advisor executes the trend strategy.
- The robot works on an M5 time frame.
- It works with fourteen symbols.
Forex Scalping EA Trading Performance
It’s a EUR/CHF currency pair backtest report on the M5 time frame. The modeling quality was 90.00%. The spread was five pips. An initial deposit was $1000. The total net profit equaled $1,944,075,698. The Profit Factor was 10.83. The maximum drawdown was 0.19%. The robot closed 21915 orders with a win-rate of 93% for Shorts and 92% for Longs. An average win-streak was eighteen deals.
Forex Scalping EA runs a demo USD account on the EasyForex broker. It trades automatically using technical indicators from MT4 automatically for spotting trends. The leverage may be 1:200 – 1:500, or so. The verified track record was removed in 2020. The account was created on November 11, 2019, and deposited at $50,000. Since then, the absolute gain has become +6557.69%. An average monthly gain is 28.33%. The maximum drawdown was 24.54%. The account is tracked by 18 traders.
Forex Scalping EA has closed 3386 orders with 10043.7 pips. An average win is 5.05 pips when an average loss is -9.64 pips. There were 128,198 Lots traded. The win-rate is 85% for the BUY direction. The Short direction wasn’t traded. An average trade length is 32 minutes. The Profit Factor is 3.62.
The most frequently traded currency pairs are GBP/USD – 373 deals, EUR/GBP – 348 deals, GBP/AUD – 347 deals. The most profitable symbol is GBP/AUD $580,178.
As we can see, it’s a night scalper that works during the Australian trading session open.
Monday is the most traded day (829 deals). There were few deals opened on Friday because of not keeping them over a weekend.
The system runs the account with low risks to the balance.
The robot scalps 1-6 pips for each win deal.
The robot is profitable for the first three months of 2021.
How much does it cost?
There are four packages introduced: Basic, Standard, Gold, and Premium. The Basic package costs $99 instead of $299. It’s featured by a single real license. The Standard pack costs $149 instead of $499. There are two real licenses provided. The Gold pack costs $199 instead of $599. There are three real licenses. The Premium pack costs $249 instead of $999. We’ll get an unlimited number of real licenses. We can’t rely on a money-back guarantee because of “the nature of the software.”
Reviews from customers
There are some testimonials provided. We cannot be sure that they are real.
The company created a page on Forex Peace Army. As for a robot that has almost two years of trading results, there’s a single comment. It’s suspicious.
The system has only 50% of the win-rate instead of 85% we saw. The robot didn’t provide stable and safe profits.
Should You Use FX Premiere?
|Backtest reports provided||No team details revealed|
|Demo account trading results provided||No settings explanations provided|
|Cheap pricing||No money-management advice given|
|Only demo account trading results provided|
|No money-back-guarantee provided|
|Lack of real client feedback|
|The presentation is bad-designed|
Forex Scalping EA is a robot that has been running a demo account for many months. Anyway, there’s something wrong. Why? If the system is that good, why did the developer not start trading on the real account and make real profits? See, no logical answer shows up. If common sense doesn’t work, there are high chances of being a scam. The developers don’t provide a refund policy to cover our purchase.