BF Scalper has a high drawdown in contrast with the returns, which makes it an inefficient trading robot. The developers mention many features that a trader can use to tweak the algorithm according to their liking. They have made improvements in the pro version to make it perform better.
Detailed Forex Robot Review
FXatuomater presents its products neatly on a single webpage. They take pride in their verified live trading results by showing a verification stamp. All the features are mentioned, and the recommendations are stated in detail.
BF Scalper Pro has the following set of features:
- Reasonable stop loss and take profit with new ATR based algorithm
- Volatility and advanced news filter
- Support for multiple currency pairs
- High spread, slippage, and broker protection
- Email and push notifications are available to alert on possible trades
How does it work?
The developer will send you the ex4 file after you purchase the system. You have to place it in the experts’ directory of the MetaTrader and enable auto trading. Then place the robot on the respective charts and time frames to begin trading.
BF Scalper Pro Strategy Tests
The expert advisor works on the M15 time frame on supported currency pairs. Each instrument has an individual set file that you have to load or input yourself. The robot works only on ECN brokers with 4 or 5 digit quotes. The developer fails to provide any further information on the strategy of the system. We have the backtest through which we can observe certain points. It can work with varying inputs that decide on the stop loss and take profit. Enabling the grid option will allow for a smooth uptrend curve, but it can also result in a margin call if the market trends in a certain direction. It has a winning rate between 80-100% with a similarly high-profit factor. The developer hides the relative drawdown, which can go up to 30%, and only shows the maximal, which has a lower value.
Every robot can work better during backtesting and fail with the live results.
Live Trading Results
There is one live portfolio available on the website for analysis. It uses martingale and grid strategies to stay profitable and maintain an upright curve. Unfortunately, the monthly gain of 1.67%, in contrast with the drawdown of 22.70%, is super low. The average win was $11.75, while the loss was -$14.82. The mean trade duration was 14h and 2 minutes which shows a day trading approach. The developer shouldn’t name the robot as a scalper if the position holding period is too extensive. It raises some concerns over the authenticity of the statements.
You can purchase the system for one live and three demo accounts for $137. Considering the current performance of the robot, it is not worth a single penny. There are absolutely zero gains with no good returns. A 60-day money-back guarantee is available if you are not satisfied with the product.
There are no customer reviews that can guide us if the system is authentic or not. There is only one review on Forex Peace Army for FXautomater.com that gives it a three-star rating out of 5. However, the review dates back to 2013, so it is useless. Lack of reviews states that no one is interested in buying an algorithm with low performance.
The system is severely overpriced for something that doesn't return good gains. Grid and martingale systems can turn your account to dust in a matter of minutes if the market goes the wrong way. BF Scalper Pro is not a robot to invest in.