Gold Scalper Pro Review

Gold Scalper Pro

FX Automater has multiple algorithms in their portfolio, and Gold Scalper Pro is one of them. According to the developer, it has a low drawdown and trades with a reasonable stop loss and take profit. The algorithm has multiple features, including a news filter and stealth mode to help with maintaining the balance. We will review them in our review to see if they are beneficial to us.

FX Automater states that they have ten years of experience in developing expert advisors. Although they have been in the business for more than 15 years and have more than 10000 clients, we couldn’t find any certificates or records that could verify these claims.

Gold Scalper Pro at a glance

Price$147
Trading PlatformsMT 4
Currency PairsXAUUSD
StrategyScalping
TimeframeM15
Recommended DepositN/A
Recommended LeverageN/A
Money ManagementYes

Gold Scalper Pro functionality

The EA has the following features:

  • It has a news filter to avoid volatile trading conditions.
  • There is an advanced time management system.
  • The robot stops trading during high spreads.
  • Traders can enable push notifications.

Gold Scalper Pro trading strategy tests

The developers state that the robot does not use grid or martingale strategies and has a reasonable stop loss and take profit with each trade. It uses money, time, and news management to help with trading. To get more information on the game plan, we use the records on Myfxbook. We observe that the robot places a high stop loss for each trade. The execution is closed before it reaches the designated exit point. 

Trading history on FXBlue
Trading history on FXBlue

Backtesting results are available for the XAUUSD real tick data, which shows the relative drawdown was around 16.13%, and the winning rate was 79.42%, with a profit factor of about 2.26. All the tests were done on the 15-minute chart with a starting balance of $1000. 

The robot tanked an average profit of $2387.89 during this period in a total of 243 trades. The best trade was $99.69, while the worst one was -$278.63. The modeling quality stands at 99.9%.

Backtesting records
Backtesting records

Gold Scalper Pro real trading results

Verified trading records on Myfxbook are available. We can see that the current floating gain is 59.53% at an account balance of $1432.32. The drawdown value is around 8.87%. The winning rate stood at 84%, with a profit factor of 1.62. The best trade was $102.18, while the worst was -$48.36 in a total of 239 trades. 

The system made an average monthly output of 1.56% during the period. The stated drawdown value is high compared to the monthly gains. This gives us a poor risk-reward of 7:1.

Live trading statistics on Myfxbook
Live trading statistics on Myfxbook

User reviews

There is only one review present on Forex Peace Army, which is quite strange. If the claim by the company of 10000 clients is true, then we should see some more comments from investors. Traders are not simply interested in leaving a review. A customer states that he has been using a robot from the company and will provide feedback at a later date.

Customer review
Customer review

Gold Scalper Pro Review Summary

Gold Scalper Pro
3 5 0 1
Gold Scalper Pro has a poor combination of drawdown and monthly gain. The algorithm does not have any feedback on the review platforms that could guide us on the viewpoint of traders.
Gold Scalper Pro has a poor combination of drawdown and monthly gain. The algorithm does not have any feedback on the review platforms that could guide us on the viewpoint of traders.
3/5
Total Score
  • Functionality
    3/5 Neutral
    The service works only on MT4.
  • Trading strategy
    4/5 Good
    It uses a stop loss and a take profit.
  • Live Results
    2/5 Bad
    Live results show a high drawdown.
  • Customer support
    4/5 Good
    Customer support is available 24/7.
  • User reviews
    2/5 Bad
    The reviews on Forex Peace Army are not good.

The Good

  • Multiple backtesting records

The Bad

  • It has a high drawdown
  • No transparency of developers
  • It only works on MT4
Total
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