Top Scalper is an expert advisor that works mainly on the EURCAD pair. It is developed to work mainly during the closing part of the American session. As per the developer, this FX EA is a scalping system that is compatible with all brokers provided you use the ECN account type. While the developer claims that this FX robot can control risk easily, we find that he does not provide performance proof. With only backtesting results, we are unable to assess the performance. Further, while the price is not expensive, there is no money-back guarantee. Our initial assessment of this EA reveals it is not a trustworthy FX EA.
Valerii Gabitov is the developer of this FX robot. He is from Russia and as per his MQL5 profile he has one year of experience in the field. He has developed 11 products and 14 signals. Gabitov has published this expert advisor in July 2021 with the latest update being done on August 18, 2021. The software is in version 60.0 now.
We could not find any support options on the MQL5 site other than contacting the developer via the message board on the site. The lack of customer support makes us suspicious of the reliability of the product. Without responsive support, customers will find the product a waste of their time and money.
How Top Scalper works
According to the developer, this system has been created using all his experience in trading. Some of the features he highlights about the product are:
- Stop loss is present for every trading position and can be changed in points
- The OrdersG parameter allows stretching of a position by many orders, which enhances entry quality
- If conditions are not good, the EA does not look to the SL but instead closes the order on its own
- Installation of the EA is easy and does not need the setup of files
Timeframe, currency pairs, deposit
The M15 timeframe is used by this FX robot and it works only on the EURCAD. We could not find any recommendation on the minimum deposit and the leverage to use for this EA. The lack of info raises a red flag.
Besides the mention of night scalping, the developer does not elaborate on how he uses the approach to increase profits and control the risk. Instead, he warns about the risks present such as the backtest results do not predict future profitability. The SL feature although useful in controlling risk is effective based on your broker as per the developer.
Pricing and refund
To buy this FX robot you need to pay $180. There are no rental options present as is common with most of the MQL5 products. A free demo offer is present. Compared to other competitor scalping systems in the market, the price of this product is not very expensive. However, as mentioned before there is no refund offered for this EA. This makes us suspect that it is not reliable.
A backtesting result using the default settings of the EA is given by the developer. From the info in the strategy tester report, a total net profit of 1146846.29 from an initial deposit of $1000. The profit factor is 6.36 and the maximum drawdown is 11% for the testing done from 2018 up to 2021.
While the profits look good in the backtest, they are not indicative of a similar performance in the future as the developer points out. Unfortunately, we could not find real trading results for the EA. We prefer results verified by sites like myfxbook, FXStat, FXBlue, etc. as they provide insightful info on the performance and approach. The absence raises a red flag.
People say that Top Scalper is…
A scam. From the user reviews on the MQL5 site, we find that the EA has resulted in big losses. Another user has the same complaint and states that the real trading results are different from the backtesting results. From these reviews, it is clear that the EA uses a high-risk approach resulting in poor performance.
|Fully automated trading software||No explanation is provided for the strategy|
|Affordable price||No verified trading results|
|Negative user reviews|
Top Scalper Conclusion
Top Scalper claims to provide results that bring high returns with low risk. On assessing the features, strategy, and performance, we find the EA is not a reliable product. The developer does not explain the approach used but provides backtesting results. Without verified trading results, we could not rely on the backtest results alone. With no proven track record and negative user reviews, we do not recommend this expert advisor.