This EA is a fully automated trading system. It is developed and offered by FxAutomater, a Forex platform that provides auto-trading solutions with main products being robots and indicators. It also provides Forex content through its blog section.
Apart from the Smart Scalper Pro, other robots offered by Fxautomater include BF Scalper Pro, Grid Master Pro, Gold Scalper Pro, and many more.
The team behind the FxAutomater platform comprises successful professional traders with more than 15 years of trading experience and 10 years of developing automated trading systems.
According to the developers, their main goal is to develop, research, test, and reveal Forex trading strategies and systems that every trader can benefit from. They claim to have a solid track record of creating intelligent EAs that outperform expectations.
According to the developers, this robot uses a Trend Trading strategy where it figures out entry points just after a correction.
Smart Scalper Pro: Characteristics
The developer highlights the main features of this EA as stated below:
- This trading tool works on both MT4 and MT5.
- It is compatible with Mac and Windows operating systems.
- Its package comes with a user manual for the installation and configuration process.
- It has an ATR-based algorithm which decreases the drawdown. Its money management tool helps the trader to set risk in percent and it will automatically calculate the lots according to the risks and the account free margin.
- The software is equipped with Advanced News Filter which helps the trader to avoid trading during most important news and events. It is disabled by default and the trader can configure it manually.
- With its Time Management System, the trader can configure the robot to trade or not trade in specific hours, days, and weeks. It helps to avoid trading in unfavorable market conditions.
- Its Friday Exit system gives the trader an option to set the robot to close all trades on Friday evening at the desired time.
- Its email and push notification system keeps the trader updated on all actions performed on the account.
The other features of this EA are as follows:
- It’s fully automated
- Easy to use
- Has low-risk strategy
- The system trades with TP and SL
- It’s associated with low drawdown
- It’s equipped with an advanced news filter.
Currency Pairs, Strategy & Timeframe
- The developer mentions that this software can run on M1 or M15 timeframe.
- The settings for lot size on this EA is 0.05 on a $1000 account balance and 0.5 on a $10,000 account balance. According to the developer, traders can also use Auto MM=2% (low risk) up to 10% (high risk), according to the significance of their account and their risk to reward ratio.
- The currency pairs that this EA trades include: GBPUSD, EURUSD, USDCHF, USDJPY, and USDCAD.
- The EA comes with default settings for GBPUSD, but the set files for other pairs and how they are loaded correctly in the robot settings are provided. But if you use the automatic installer of the software, all the .set files will be automatically installed in your MT4 terminal.
- According to the developer, the strategy it uses maximizes the pullbacks as the entry points before the market continues with its original direction.
Smart Scalper Pro Trading Performance
This is a real account with an IC Markets broker having a leverage of 1:500 and has been running on MT4 since September 9, 2020. From a deposit of $300, the software has made $47,06 of the total profit pushing the balance to $346,41.
Its total gain is 15, 69% based on 349 trades performed. The profit percentage is above 70% while the drawdown is 4.43%.
It trades 4 currency pairs. As you can see, the robot achieved little profits with these currencies.
In the screenshot of backtesting results provided below, we can see that the robot ran on this account from January 4th, 1999 to October 25th, 2018. In that period, it made a net profit of $13,706,719 from a deposit of $1000 in 8,260 trades. It had a profit factor of 1.4% and a maximum drawdown of 8.41%. The profit percentage was 8.05%. The currency pair that was traded throughout the period was GBPUSD.
We can also see that it took time before the robot could make a stable and consistent growth on the account.
How much does it cost?
Smart Scalper Pro costs $197. However it is currently at a discount of 30% ($137). The package includes 1 real account and 3 demo accounts.
It has a 60-day money-back guarantee. This means if you are not satisfied after two months, you can request a refund.
Reviews from customers
We couldn’t find any customer feedback about the robot on Forex Peace Army, TrustPilot, and Quora platforms. There are no comments on the live trading results provided on Myfxbook. Trading systems with no customer reviews are difficult to tell whether they work or not.
Should You Use Smart Scalper Pro EA?
It’s not advisable to use this EA. Its developer claims that it has a low-risk strategy that is made possible by reasonable TP and SL levels but on the backtest report, some trades had no stop loss. This shows that not all the features function as they describe.
- Backtest performance provided
- Detailed user guide for set up provided
- 24/7 customer support
- No customer reviews
- Limited to certain currency pairs
- Poor trading results
This software claims to offer risk-free trading with low drawdown, an idea which we cannot buy. From our analysis of the trading results and backtest reports, risk-free trading seems not to exist in the real world. The robot generates little profits and you will have to wait a year or so to cover the funds you spent when you bought the EA. Despite having important features and being offered by a team of “successful and professional traders” we don’t consider the robot the best choice for the price it is sold for.