Smart Scalper Pro is an expert advisor that is advertised as ‘one of the most successful expert advisors’ designed to ensure high profits and minimum losses. As per the vendor, this FX EA uses a pure and simple trading approach. In this review, we will analyze the key aspects of this ATS like its functionality, track record, backtesting results, and more to verify whether the claims of the developer are true.
Smart Scalper Pro company profile
FXautomater is the company that stands behind this FX EA. As per the company profile, it is made of a team of professional FX traders with a trading experience of more than 15 years. We could not find further info on the company like its founding year, reputation, experience, and expertise of its developer team, and more. There is no location address or phone number present. The lack of vendor transparency makes us suspect the reliability of the EA.
The highlights of Smart Scalper Pro
Here are some of the features that the vendor specifies in this EA that give it a competitive edge:
- The system uses a simple and robust trading logic with reasonable TP and SL levels and an algorithm that is ATR-based.
- An 18-year backtesting proof is present for the EA.
- It works on multiple currency pairs.
- The EA uses an improved exit logic, an advanced news filter, and a time management system.
- Protection from unscrupulous brokers, high spread, and slippage are present.
- It does not have GMT shift hassles and boasts 24/5 trading.
- A Friday exit, email and push notifications, and an effective exit logic are present.
- The main currencies the system supports include the USDCAD, GBPUSD, USDCHF, EURUSD, GBPUSD, and USDJPY pairs.
- It uses the M1 or the M15 chart on the MT4 terminal.
- The vendor recommends the use of a lot size of 0.05 for a $1000 balance and 0.5 lots for a balance of $10000.
Facts & figures with Smart Scalper Pro
There are a few backtesting results on the official site. Here is one of them:
From the above report, we can see that the testing was done from 1999 up to 2018 on the GBPUSD pair using the M15 timeframe. For an initial deposit of $1000, the account had generated a net profit of 13706719.03. A total of 8260 trades were executed with a profit factor of 1.47 and profitability of 78.05%. The maximum drawdown for the account was 8.41%. From the results, we can see that the performance is decent when based on historical data.
For live trading, the vendor provides myfxbook verified results. Here is one of the live trades done with the IC Markets broker and the leverage of 1:500 on the MT4 platform.
From the above stats, it is clear that the account has generated a total profit of 25.42% and a similar value for the absolute profit. For the account that started in September 2020 up to now with a deposit of $300, a total of 461 trades have been executed with a profitability of 73% and a profit factor of 1.36.
The trading history reveals a lot size of 0.01 is used for the account. A drawdown of 4.43% is present. While the drawdown is low, the gains are not high showing a below-average performance. Comparing the backtesting results with real trading, we find the performance in the backtesting is not seen in real trading results.
Smart Scalper Pro packages
This FX EA is available for $117. As per the vendor, the features included in the package are: one real account, 3 demo accounts, 24/7 support, and a 60-day refund offer. Compared to other similar products in the market, we find the price is affordable.
For support, the vendor offers an online contact form. There are no other methods for contacting support which we feel is inadequate.
We could not find user feedback for this FX EA on reputed sites like FPA, Trustpilot, etc. The absence of reviews shows this is not a popular product.
Is Smart Scalper Pro a profitable bet in 2021?
We don’t think so. Here is a list of the downsides that make this system unprofitable:
- Lack of vendor transparency indicates this is an unreliable product.
- Real trading results indicate a high-risk approach and poor performance.
- Inadequate support and lack of user feedback show the unreliability of the EA.
Since performance, reputation, and support are major criteria that decide the profitability of an EA, the lack in these aspects makes this EA a bad investment choice.