Synergy FX has introduced ICHI Scalper 2.0 to us.
The main statement informs us that their global client base grows over four years.
The second one is that the robot is a unique strong-all-around robot that’s designed for qualified traders.
If we want to ask something about the robot or company, we can’t.
There’s an intro video that shows how cool it’d be if we started trading with them.
ICHI Scalper: Characteristics
- The robot is a fully automated trading solution.
- It’s been working since 2014.
- It has a well-designed money-management system to cover us with risk management.
- We can trade only on MT4.
- The robot doesn’t have any news filter. So, avoiding High-Impact News is always our duty.
- The minimum amount of a deposit should be over A$5000. As for one single currency EA, it’s an insane amount of funds.
- The developers provide 24/5, dedicated customer support.
- The robot places TP and SL levels automatically.
- The EA supports five steps risks: from 1 (the most conservative) to 5 (the most aggressive).
As we can see, the EA requires many people’s intervention in its work.
The robot likes sitting in huge drawdowns for several days in a row. Thank Gods, you’ve convinced us that the robot will be able to zero our account.
Currency Pairs, Strategy & Timeframe
- The robot trades sideways trend that occurs on the AUD/USD symbol.
- It trades on the M5 time frame getting several pips on each deal.
- This EA is programmed to take advantage of the ‘whipsaw’ effect to make returns in the market.
ICHI Scalper Trading Performance
The developers provided us with fake results on the web site. We managed to find real account trading results. The account was on Synergy FX and funded at A$5000. This account was personal (created on March 15, 2016, and stopped & withdrawn on October 10, 2016), so there’s no Verified Track Record. The robot trades using Technical indicators with 1:500 leverage on the MetaTrader 4 platform. The absolute gain was +29.43%. An average monthly gain was +3.77% with an insane as for this profits maximum drawdown (18.20%).
The robot has traded 659 deals with a good number of pips (2259.0). An average win (9.39 pips) was more than twice fewer than an average loss (-20.61 pips). The win-rate was between 79% and 80%. The average trade length was up to twelve hours. The Profit Factor was high (2.46).
The Shorts direction has provided up to four times more pips than the Shorts one.
It scalped all day long.
It worked equally all the time.
A trader was scarry of the EA, so he or she traded with the lowest possible risks.
The EA opened many hedging deals in the wrong direction, so it was stopped.
It was good four and a half years ago and stopped being good four years ago.
Let’s take a closer look at the present account. The EA ran a demo USD account with 1:500 leverage on IC Markets without a Verified Track Record. An account was created on May 04, 2020, and deposited at A$100k. For half a year, the absolute gain became -0.75%. An average monthly gain was -0.16% with a very low maximum drawdown (2.65%).
The robot has shown that it consistently kept its trades in long-term drawdowns.
The EA closed so many deals (8372) with -22089 pips. An average win (10.73 pips) was twice fewer than an average loss (-24.26%). The win-rate was in the middle of the pack – 60% for Longs and 62% for Shorts. An average trade length was up to five hours. The Profit Factor was less than 1 (0.92). It meant the robot wasn’t profitable.
Its trading activities looked like one big red sheet. Most of the losses have been brought by GBP/JPY (-A$1253.60). Most of the profits came from AUD/USD (A$989.17) and EUR/USD (A$831.95).
The EA traded all day long.
Friday has more opened trades than other days.
From the sheet, we see that the EA set completely out of place TP levels.
How much does it cost?
So, here we go. It seems like the broker tries to grow its client base. To get started, we have to:
- Register on SynergyFX dot com.
- Deposit funds of A$5000 to the real account.
- Download and attach to the chart Ichi Scalper.
- We have to enter our details.
Reviews from customers
There are fake testimonials that look more likely like an advertisement than real feedback. It’s weird to read about the Synergy FX broker right from the first sentence of feedback about an EA. It’s nonsense. Usually, people write about profitability and absolute gain.
Should You Use ICHI Scalper?
|No pros||No team revealed|
|No settings explanations provided|
|Insane requirements for a deposit|
|Four-years-old trading results|
|No pricing provided|
|They suggested a broker that no one knows|
|Fake people’s feedback provided|
The EA is 100% a scam. It seems like the robot was designed by the Forex broker to force people to register on it. Otherwise, we don’t see any real reason for a A$5000 deposit for trading, just a single currency pair. Usually, $500 is okay to start trading with one symbol. The ICHI scalper likes to sit in big long-term drawdowns, opening at the same time many other hedging-based deals. It’s weird because the scalper should sit in drawdowns for days. It’s just completely the opposite of what the scalping strategy relies on. We couldn’t see pricing, so they closed the door behind them, saving our money and nerves.