FXZipper is one of the newest Forex scalping robots that was designed to make a difference in scalping trading. This Forex trading tool is compatible with any Forex broker. It was developed to keep orders in the market for a long time and close them in profits. It constantly analyzes the market conditions and seeks the most profitable trade opportunity, sometimes skipping the ones that might be unprofitable.
In this FXZipper review, we are going to analyze this EA to break down all the advantages and drawdowns of this MT4 tool.
Detailed Forex Robot Review
The developer of FXZipper provides a short powered by Forex Store presentation. The dev outlines the main features, pricing details, live trading results, and backtesting reports of the robot. There is no word mentioned about the team that stands for this expert advisor.
Well, what are the features of this expert advisor?
- In case a deal reaches the profit level, the robot immediately closes positions
- The robot is ‘friendly’ with any broker
- It can earn 6-12 pips per trade
- It does not keep orders open for a long time. On average, the average trading length is from 15 minutes to 3 hours (it’s a lie)
- It can trade 8 currency pairs: AUDUSD, AUDCAD, USDCAD, GBPUSD, GBPCAD, GBPAUD, EURCHF, EURCAD
- There is a special technology implemented that postpones the ‘opening of a trade by signal if it has become unprofitable due to a sharp price increase, requotes or a fleeting increase of spread’
- A trade will be open only if the EA finds it to be a profitable one
- Sometimes EA can miss low-profit trades
- The developer recommends use accounts with minimum spread (e.g: ECN)
FXZipper Strategy Tests
We know that the robot performs a scalping strategy, which allows the EA not to keep orders open for a long time and earn stable profits in less than 3 hours of trading. The robot opens trades only when the price is best for its opening. It allows the system to generate maximum profit from the market moves.
The dev provides backtest reports for each currency pair:
The deposit for every currency pair was the same – $2000. The most profitable currency pair was EURCHF – $125 046 of profit and the less profitable one was AUDUSD – $5285 of profit. The robot traded with high 99, 90% modeling quality. Let’s analyze one of its backtest reports in detail.
It was EURCAD account that worked on the M15 timeframe. It had 99, 90% modeling quality with variable spreads. The backtesting started in 2015 and ended on November 12, 2020. It was deposited at $2000. For 5 years of trading, the robot could earn $17093 of profit. Its absolute drawdown was 20, 89%. The profit factor was high – 1, 98. It traded 583 trades. The win rate for short positions was 84, 43%, and 88, 73% for long positions.
Real Live Account Trading Results
The dev provides us with a live trading account that is independently verified by myfxbook.com.
Well, let’s see how the EA performs in detail.
It is a Real USD account, which was launched on November 19, 2019, and deposited at $500, 52. It runs on the MT4 platform with an MTrading broker. It uses trend indicators to spot a trend trading opportunity. From the day of its activation on myfxbook up to the current days, the software has generated a profit of $637, 16. Its total gain has grown to 127, 3%, the average monthly gain has risen to 5, 52%, and the daily gain to 0,18%. The drawdown is low – 13, 33%.
Since the time of activation, the robot has placed 725 trades, out of which 82% (597 trades) have been won. Hence, the EA has a good profitability of 82% for both Long and Short positions. Its profit factor is 1, 46. The average loss is 3 times higher than the average win: -22, 08 pips/-$10, 77 and 7, 73 pips/$3,38. The average trade duration is seven hours and thirty-nine minutes, twice more than the dev said in his presentation.
The robot trades 9 currency pairs:
The most frequently traded but the one with the worst profitability is GBPUSD symbol – 127 trades/ – $56,10. The most profitable currency pair is EURCHF – $281, 03 of profit.
The robot trades from 9 p.m. till 1 a.m:
It trades with the lowest possible risks:
The system uses conservative Martingale. Its regular lot size is o. 03, but it can be increased in 3 or even 4 times:
It’s January 2021 trading results do not look good. The robot lost -2. 9% of the trading account balance.
FXZipper’s price is $345. The package is featured with six symbols:1 lifetime license for any trading account, MT4 and MT5 versions of the EA, free EA updates, a user guide, full-time customer support, and 30 days money-back guarantee.
The FXZipper presentation does not include any customer review. We could not find any testimonial on third-party websites like Quora, Forex Peace Army, or Trustpilot.
This EA focuses on trading trend strategy insane Martingale. The vendor failed to provide any sort of information to tell us who he/she is or what trading experience he/she had.
The robot has shown unstable trading performance. January 2021 results were negative.
We will monitor the trading performance of this EA to see how good or bad it will be in the next couple of months or so.