The software, which is composed of three trading bots, promises to make your trading profitable. We have verified the veracity of the vendor’s claims and prepared an unbiased Forex Scalper X review
How FX Scalper X Works
The dev highlines the folowing features of the EA:
- The robot can execute deals automatically on the terminal.
- There are backtest reports provided. So, we can check how it handled the past data.
- The robot is an easy-to-setup trading solution.
- It puts emotions aside of trading, allowing making more stable, safe, and stress-free profits.
- The system doesn’t require our trading experience to work well.
- There are Grid and Scalping strategies on the board.
- It works on the M1 time frame.
- It’s compatible with all MetaTrader 4 brokers.
- The minimum account balance is $100, recommended–$500.
- It trades on the following major currency pairs: AUD/USD, EUR/GBP,
- EUR/USD, GBP/USD, and USD/CAD.
- It’s easy to set up.
- 24/7 support.
FX Scalper X Trading Results
There are four backtest reports on the site. This one is a GBP/JPY backtest report performed on the M1 time frame. The period was chosen from 2010 to 2019. The modeling quality was 99.90%. An initial deposit of $100 turned into $47,774,633 of the total net profit. The profit factor was 1.59. FX Scalper X traded 44912 trades with 46.3% of the win rate. It does not look good. This statistic means that half of the orders placed were lost.
FX Scalper X executes orders on a real USD account. It works automatically on the MetaTrader 4 platform. The leverage was set at 1:300. It was created on January 12, 2021, and deposited at $2,850. Since then, the absolute gain has become 145.16%. For 2 years and a half, it generated $4,147 of profit. Only $50 were withdrawn from this trading account.
It shows a monthly gain of 5.17% with a very high drawdown of 64.14%. This is totally unacceptable.
The bot has conducted 10,074 trades and won 23,858.2 pips in the process. An average loss is twice lower than an average win, representing a RRR of 1:2. The profit factor is 1.41when the traded lots are 121.59.
Although it trades 17 currency pairs, the most frequently traded one is GBPUSD‒3,236 trades. It has brought a 1,793.73 USD of profit. USDNOK is the worst traded currency pair as it has brought nothing but a loss of 6,687 pips (80.28 USD).
The profits the system generates using a grid plus scalping combo are very small:
Pricing & Refund
There are three packs on the board: two subscription ones and one lifetime. Each of them includes 3 expert advisors: FX SCALPER X, FX SCALPER XX, and FX SCALPER XXX. The three-month pack has a $115 price. The annual pack can be bought for $189. The lifetime pack costs $339. We have no idea what these packs include. None of the packages includes a refund policy.
The purchasing forces us to provide all card information to the developers.
There are many positive testimonials on the site. We couldn’t find any of them on Trustpilot or Forex Peace Army.