Onyx Scalper is a Forex EA that uses an effective trading algorithm and promises to take your trading to the next level. Using this software, you can trade in all the popular pairs in the Forex market while using different trading styles. The vendor claims that the signals are 100% reliable and are not repainted.
Detailed Forex Robot Review
On the official website of Onyx Scalper, we have a very detailed presentation where the main features and the working of the system are clearly outlined. There are several videos and screenshots showing profitable live trading, as well as reviews from multiple individuals who have benefited from the Forex EA. The vendor has also provided us with some useful trading tips, and a contact form that you can use to send your questions to the service team.
Onyx Scalper has been developed by Karl Dittman, a well-known trader who has created similar robots in the past. However, we don’t have the physical address for the company headquarters, and no information about the development team has been provided, which makes us think that this person has been operating on his own. He has provided a personal email address where you can reach out to him.
Onyx Scalper has an in-built alert system that sends you real-time alerts on the MT4 platform. Even if you are outdoors or don’t have your computer open in front of you, you will receive an email notification whenever there is a profitable trading opportunity. When you purchase Onyx Scalper, you will get a simple user guide that will allow you to work seamlessly with the Forex EA. Lifetime support is provided by the company, so you don’t need to worry about things going sideways.
This Forex EA will send you buy/sell signals complete with entry points and stop losses. There will also be a recommended take profit so you know when to make an exit. It works on the M1, M5 and M15 timeframes and the recommended starting balance and minimum deposits are $100 and $250, respectively.
Onyx Scalper Strategy
Although the vendor has not explicitly mentioned the strategy used by Onyx Scalper, we can assume that it uses a scalping scheme for extracting profits. This involves making small profits in the Forex market while not keeping the trades active for too long. Some Forex traders consider this a risky approach. Besides, the vendor does not supply any information about how the scalping strategy is utilized by the Forex EA.
We don’t have any backtesting data for Onyx Scalper on the official website. Most individuals look for decent backtesting results before investing in a robot because it tests the system against various market conditions.
Live Account Trading Results
Onyx Scalper does not provide us with any verified live trading results, which is a real disappointment. On the official webpage, we have a video and a few screenshots showing decent pip gains made by the systems, but since these are not verified by third-party sources like FXBlue or Myfxbook, we cannot consider them genuine. It should be noted that most traders won’t even consider purchasing a Forex EA that does not furnish verified trading outcomes.
Although Onyx Scalper is priced at $395, the vendor is currently offering it at a discounted price of $147. Now, such discount offers always make us a little bit sceptical, since it seems like the vendor is trying to sell the product by intentionally showing a higher price as its true value. Nevertheless, he does provide a 30 days money-back guarantee for this Forex EA, so even if it underperforms, you can always request a refund.
We found only a single user review for Onyx Scalper on the Forexpeacearmy website. Here, the user has heavily criticized the vendor, stating that they have posted deceiving screenshots. They have stated that the entry and exit levels lag and that the assistant is of no help. Apparently, the vendor did not respond when the user asked him for a refund. If what the user says is true, then Onyx Scalper is certainly not a reliable system and Karl Dittman is not an honest vendor who stays true to his customers.
Although at first glance Onyx Scalper seems like a reliable and trustworthy system, after analyzing the various system aspects, we have come to the conclusion that it is not worth your money. First of all, the vendor does not mention what kind of scalping scheme is used by the system.
Secondly, there is no verified proof of trading results or backtesting data. So we cannot possibly recommend such a Forex EA in good conscience.