Smart Scalper Pro is an FX robot that claims to use a proven trading principle that ensures high performance and minimal loss. The FX EA boasts features like money management, news filter, Friday exit, time management, and profit protection. As per the vendor, this system is an improved version of the BF Smart Scalper EA.
While we can see verified trading results and backtests for the EA, the performance is poor. Further, the lack of vendor transparency and the absence of user reviews raise suspicion. Our initial analysis reveals this is not a trustworthy EA.
This FX robot is a product developed and marketed by the FXautomator group. The company specializes in trading approaches and comprises a team with more than a decade of experience in creating automated systems for traders.
As per the vendor info, the team identifies successful trading approaches, tests them, and develops automated trading systems. We could not find info on the founding year or the location of the company. No phone number is present for contacting the company which raises a red flag. Furthermore, the only support option the FX EA provides is an online contact form.
How Smart Scalper Pro works
According to the info on the official site, the main features of this FX robot include the use of a simple and strong trading logic, use of reasonable SL and TP positions, advanced news filter, enhanced time management, a Friday exit system, and improved exit logic. Push and email notifications, protection from the high spread, broker, and slippage, and 24/5 trading without any GMT shift issues are other features. The vendor promises a low drawdown and 18-year backtesting results for this FX EA.
Timeframe, currency pairs, deposit
This ATS supports multiple currency pairs including USDCAD, USDJPY, EURUSD, and GBPUSD. The GBPUSD high-frequency setting is an optional feature in the EA. A timeframe of M1 or M15 is recommended. We could not find recommendations on the leverage and minimum deposit by the vendor.
According to the vendor info, this EA uses the scalping approach that is a low-risk method. The vendor explains that the approach is simple and based on identifying a strong market impulse after a correction and making the order entry. The explanation of the strategy is vague and does not provide the info a trader looks for.
Pricing and refund
This FX EA is available for $137. A single real account, 3 demo accounts, 24/7 support, and a 60-day money-back guarantee are the features included in the package. Updates are provided for life and a user guide is also part of the price package. When compared to the price of competitor systems, the cost of this MT4 tool looks affordable.
The vendor provides backtests and real trading results. Here is a strategy tester report for the GBPUSD pair that was done using the M15 timeframe from 1999 up to 2018.
Modeling quality of 90% was used for the test, which started with an initial deposit of $1000. A total net profit of 13706719.03 was generated for a total of 8260 trades. Profitability of 78.05% and a profit factor of 1.47 were present for the account. The maximum drawdown value was 8.41%.
A live USD account using the IC Markets broker with the leverage of 1:500 on the MT4 platform verified by the myfxbook site is shown here.
From the above trading details, a total profit of 17.85% and an absolute profit of 17.82% are generated by the account. The daily and monthly profits are 0.05% and 1.37%. A drawdown of 4.43% is present for the account which started in September 2020 with a deposit of $300.
Of the 397 trades executed, 71% were profitable with a profit factor value of 1.27. The lot size used is 0.01 for all lots. Comparing the backtests with the real account test, we can see that the performance is not as high as was seen in the backtesting result.
People say that Smart Scalper Pro is…
Not popular. We cannot find user reviews for this EA or for FXautomater, the company that promotes the product. The lack of feedback indicates this is not an effective expert advisor.
|Fully automated expert advisor||Vague explanation of the trading approach|
|60-day money-back assurance||Poor performance in real trading results|
|Lack of vendor transparency|
Smart Scalper Pro Conclusion
Smart Scalper Pro claims to use a low-risk approach for consistently high profits. On evaluating the backtesting and real trading results we find the performance of the FX EA is bad. While the drawdown is low, the profits are not high indicating a poor strategy. Other factors like the lack of vendor transparency and the absence of user reviews further confirm our suspicion that this is not a trustworthy EA.