GerFX Density Scalper is an FX Robot that works during the nighttime. It uses a mean reversion system for its operation. As per the vendor, this FX EA has been optimized to minimize slippage. It also has different parameters for optimal trade orders and for making other improvements in its functionality. This automated software supports the MT4 and MT5 platforms for its trading.
How GerFXEA works
Paul Exler, the CEO of Exler Consulting GmbH is the developer of this FX EA. He is based in Germany and has more than 5 years of experience in developing trading products. He has created 11 products and 20 signals.
The developer team at Exler Consulting has more than 10 years of experience. Other products of the developer include NightWalker, Momentum Capture, QuantFlow, etc. To contact the developer for support and queries regarding the EA, you need to use the messaging option on the MQL5 site. There is no location address or phone number present for contact which raises doubts regarding the reliability of the system.
This FX EA works on the currency pairs shown below:
It uses the M5 timeframe and as per the developer, a timeframe of H1 or more is used for the backtests. There is no info on the leverage used or the brokers the system supports. A maximum drawdown of $35 to $50 per 0.01 lot was present for the 16-year backtest. While the developer provides info on the backtesting there is not much detail on the features and functionality of the system. A list of parameters and time settings are present on the official site. We find the info provided is insufficient making it difficult to know about the software and its efficacy.
Applied strategies
This ATS uses the night scalping approach. Although the developer does explain the approach, he warns about the risks involved in using a night scalper as good results are based on the slippage and spread used by the broker especially in the case of big lot sizes.
The FX EA uses an SL for each trade and the developer claims that it can perform poorly in case of unexpected market news. A table displaying the trading stats of the various products of this FX EA is present on the MQL5 site. From the table we can see this FX EA had a maximum drawdown of $50 and the profit factor value was 2.76. The lack of a detailed strategy tester report raises a red flag.
GerFX trading results
A real EUR account using the Pepperstone broker and the leverage of 1:1 on the MT5 platform is shown here.
From the above trading stats verified by the myfxbook site, we can see the EA has generated a total profit of 34.2% and an absolute profit of 36.8%. The daily and monthly profits are 0.10% and 2.98% respectively. A drawdown of 2.18% is present for the account.
For the account that started trading in January 2021, a total of 397 trades have been executed with 79% profitability and a profit factor of 2.90. The trading history reveals a lot size of 0.01 is used for the trades. From the results, we can see the profits are not high while the drawdown is low. Compared to the backtesting details, the stats show similar values. The low profitability in both tests reveals the ineffective trading approach used by the EA.
Pricing & refund
To buy this FX EA, you need to pay $2000. Rental options are present which include $140 for a one -month rental, $370 for three months, $700 for 6 months, and $1250 for one year. The developer does not provide info on the features available with the package. There is no money-back guarantee for the Forex robot. Compared to other night scalpers in the market, we find the cost of this ATS is exorbitant. The lack of refund and expensive price makes this an unreliable system.
Other notes
We could not find user reviews for this FX Robot on reputed sites like Forexpeacearmy, Trustpilot, etc. The absence of feedback suggests this is not a popular product in the market.
