Index Scalper PRO is a scalping system that uses the movement of price in comparison with the average value as its main principle. As per the developer, Evgenii Aksenov, this is an ATS that can cause a fast increase in returns. He mentions that this MT5 tool is ideal for newbie and seasoned traders. Some of the significant features in this scalper include inbuilt TP and SL settings.
Detailed Forex robot review
Evgenii Aksenov is the creator of this FX EA. He is based in Russia and has three years of experience in creating FX trading tools. He has made 43 products and 21 signals. To contact the developer, you can use the email address he provides on his MQL5 profile or use the message board option on the MQL5 site.
The important features that the developer focuses on in this MT5 tool are listed below:
- This FX EA can work on the following symbols recommended by the developer: DE30, DAX30, DE30Cash GER30, DE40, DAX40, DE40Cash, GER40, US30.
- A maximum spread of 10 points for one symbol and 100 points for two symbols after the dot are the recommendations of the developer.
- This MT5 tool can be applied on an ECN or a PRO account.
- A minimum deposit of $100 is required to use this FX robot.
- The recommended timeframe is H1.
- This FX robot is compatible with other expert advisors in the market.
Index Scalper PRO strategy tests
While the developer mentions that the EA uses the scalping method, there is no further explanation for the method. However, a backtesting report is present which is shown in the screenshot below:
From the above backtest, we can see the testing was done with a history quality of 99%. For an initial deposit of 1000, the FX robot had generated a total net profit of 49,960,888 and a profit factor of 2.34. A total of 53945 trades were executed with a profitability of 63.7%. A drawdown of 2.86% was present. From the results, we can see the profits were high and the drawdown low indicating an effective approach and good performance. But backtests are not predictive of similar performance in real trading as they are based on historical data.
Real account trading results
A real live signal for the FX EA is present on the MQL5 site. Here is a screenshot of the trading stats:
From the above info, we can see an initial deposit of $250 has resulted in a profit of $129.04 and a drawdown of 21.6%. A growth of 27% is present. Profitability for the account is 65%. A total of 22 trading days have been completed for the account. A profit factor of 1.22 is present which indicates a below-average performance. From the results, we can see the growth was sluggish at the beginning with nearly 80% growth achieved in a single day. Another factor that indicates the high risk is the small sample size. Further, the number of trades completed is very high which can affect the results negatively.
To buy this FX robot, you have to pay $799. A rental package is present which costs $499 for a three-month rental. A free demo is present. There are no details present on the features available with the package. The developer mentions that the FX robot will soon be withdrawn to limit the number of users and to avoid brokers from affecting the trading conditions. We could not find a money-back guarantee, which makes us doubt the reliability of the system.
Unfortunately, we could not find user reviews for this FX robot on trusted review sites like FPA, Trustpilot, etc. While there are a few testimonials on the MQL5 site, we do not consider them as they can be manipulated. The reason we ignore the feedback is that the MQL5 site promotes the product so the chances of manipulation are higher.
Index Scalper PROis a scalper assuring high profits in a very short span. The developer provides the recommendations, backtesting results, and a live signal for the FX robot.
However, there is no proper explanation of the approach used. Further, the real trading results are for a few weeks only making it difficult to assess the performance and risk level. Other shortcomings we noticed are the lack of a refund policy and the absence of user reviews.