Euro Scalper PRO comes with free and paid membership options. The developers do not share their algorithm with the traders but provide their services via a signal copier. They are using short-term scalping, which we will review in our article and see if the robot can be helpful for the general community.
Vendor transparency
The developers are not clear on their market experience and whereabouts. They only share an email address and provide their Facebook and Instagram accounts for contacting them. Lack of proper information is not a good approach for the company.
Euro Scalper PRO works
The robot comes with the following main features:
- There are multiple subscription offers.
- The website is translated into numerous languages.
- Trading records are available on the website.
- No experience required.
To install the EA, use the following steps:
- Traders will have to connect their MT 4 account to the EA via a trade copier
- After providing your account number to the developers, they will attach the EA with your portfolio
Timeframe, currency pairs, deposit
The robot trades on EURUSD and requires a minimum deposit of $1000 on the account. The developers are not clear on the time frame the EA is working on.
Trading approach
The developer states that the robot uses a short-term scalping strategy. From the live records on Myfxbook, we can observe that the EA trades on GBPUSD and EURUSD and employs both averaging and martingale strategies. The trailing stop loss is used to secure the positions once they enter the profit. The take profit generally hangs around 10 pips.
Pricing and refund
This robot comes with a monthly membership of $197. The 12-month package comes with a 15% discount and an asking price of $1997. Investors can also get the service for free if they deposit $1000 with a broker of developers’ choice.
Trading results
The developers do not provide any backtesting records for the product. Live records are available on Myfxbook from January 12, 2021, till August 26, 2021. It can be seen that the system makes a monthly gain of -57.49% with a drawdown value of 99.99%. This is an inferior performance that depicts that it had a margin call while trading.
The balance stands at 33889.58 USD, with a profit valued at -$116805.53USD. A deposit of 195613.88 USD was made.
Further analysis reveals that the EA participated in 822 trades, out of which 62% were profitable. The lot size is reported as 112.45. The system trades with an average trading length of 1 day, and the profit factor is 0.04. The robot has made the best trade of 562.2 USD for this period.
People say that Euro Scalper PRO is…
Bad. There are 45 customer reviews present on TrustPilot, a trusted third-party site giving them a total rating of 4.7. One past customer says that Euro Scalper PRO has a 65% drawdown and does not have a defined exit or entry. The developers do not care if their product is working well or not.
Verdict
Advantages
- 100% automated trading
- Multiple subscription packages
- Various reviews on TrustPilot
Disadvantages
- No backtesting records
Euro Scalper PRO Conclusion
Euro Scalper PRO has a high drawdown on the live records and is unclear on the backtesting results. The company does not provide us with accurate information on its portfolio. Also, the customer reviews on Trustpilot dictate that the product is not working up to the mark.
