FX Scalper X is a Forex expert advisor that is claimed to be #1 trading algorithm to work with. The devs add that the robot should be a next generation trading solution. So, let’s check the system out.
FX Scalper X at a glance
We have systemized some claims in the following table.
|Price||$115, $155, $195, and $295|
|Currency Pairs||EURUSD, EURGBP, AUDUSD, GBPUSD, and USDCAD|
|Strategy||Grid and Martingale|
|Recommended Leverage||1:300 or higher|
FX Scalper X functionality
Let’s talk about settings, features, and all those important details to make a decision if the system is good to go or not.
- FX Scalper X is a fully-automatic trading solution that provides us with completely hand-free trading experience.
- The core strategy is based on a Grid of several orders.
- It works with the M1 time frame.
- The core pairs to work with are five ones: EURUSD, EURGBP, AUDUSD, GBPUSD, and USDCAD.
- We have to work with higher than 1:300 leverage.
- The system has to be used on a low-spread account mostly.
- We have backtest reports to check the system’s past performance.
- It was properly tested before being released.
- It’s possible to get started in several minutes.
- We can start trading and be profitable without proper trading experience.
- The developers deliver a product in a day.
- Usually, this should be done automatically.
- The balance can be $100 to start trading without significant drawdowns.
We have only subscription possibilities to start working: 3-month rent is available for $115, 6-month for $155, annual subscription costs $195, and the lifetime subscription costs $295. The system includes the following features in the package: three next-generation profitable robots, free updates, and 24/7 welcome support.
FX Scalper X trading strategy tests
There’s a report where the system was tested on GBPJPY on the M1 time frame. The data period was 2010-2019 years. The modeling quality was 99.90% with manually set spreads at 18 pips. An initial deposit was $100 that has turned into $47,774,633 of the total net profit. The profit factor was 1.59. The system has executed 44,912 orders with accuracy of 45-46%.
What about FX Scalper X live trading results
FX Scalper X keeps running a real EURC account on RoboForex with 1:500 leverage on the MetaTrader 4 platform. The account has a verified track record. It was created on March 31, 2021, deposited at 23807.90 EUR, and withdrawn at 4534 EUR. Since then, the total gain has become 95.00%. An average monthly gain is 5.80%. The maximum drawdown is huge–63.76%. This means that the advisor sets the free margin at risk of reaching Margin Call.
The system performed 3919 deals with 11,749 pips. The number of traded lots is 255.34. An average win is 16.61 pips when an average loss is -29.90 pips. It works with acceptable accuracy of 69% for long and 72% for short trading positions. An average trade length is two days. It’s a high period.
We can trade the following pairs: AUDUSD, EURGBP, EURUSD, GBPUSD, and USDCAD. The system works with GBPUSD more frequently, 1086 orders and $2426.27 EUR of profits.
The robot works with huge SL levels of 331.3 pips This order was on the market for 34 days. It also uses Martingale to increase profitability.
We may note that February 2022 was lost.
FX Scalper X Review SummaryFX Scalper X
Functionality3/5 NeutralWe have an average package of features.
Trading strategy3/5 NeutralThe strategy is a combo of a Grid and Martingale.
Live results3/5 NeutralTrading results are acceptable.
Customer support3/5 NeutralThe developers provide average support.
User reviews1/5 AwfullyWe have no reviews written.
- Backtest reports provided
- Trading results available
- No team revealed
- No risk or money-management advice given
- No settings explanations provided
- No refund policy supported