FX Scalper X is a trading robot series that promises profitable trades with its specially designed algorithms. As per the vendor, 99% of traders are not successful due to the manual trading method but with automated systems, the profitability can be increased. We could not find details related to the company like the founding year, the developers, location, phone number, etc. For customer support, the vendor offers a link to the telegram channel. The lack of vendor transparency and support makes us suspect the reliability of the FX EA.
The official site provides the bare minimum info about the FX robot. Further navigation is a bit frustrating. We could not find additional sections like the contact us page, FAQ, pricing, etc. All features are accessible from the home page. Scrolling down the page to find the info you need is a hassle. Here are the key features this ATS promises:
- Fully automated trading
- Trading results verified by the myfxbook site
- Profits are generated on autopilot
- Easy installation
As per the vendor, the FX robots provided help to automate the analytical part and the trading part which includes opening and closing of trades. This EA uses specific algorithms for conducting the analysis and identifying the accurate entries and exits.
Trading strategies and currency pairs
While the vendor boasts of building the next-generation software for trading, there is no mention of the strategy used. We could not find recommendations on the currency pairs the system supports, the capital requirement, leverage, timeframe, and other crucial factors.
No backtests are present. Backtesting is a vital part of proving the efficacy of an FX trading software. It helps to gain a better insight into the approach used. The lack of info raises a red flag.
For traders who are in search of a reputed automated system, details like the trading approach, features, support, etc. are necessary for making an informed decision. The failure of the vendor to reveal the strategy and other recommendations makes us suspect this is not a dependable EA.
FX Scalper X trading statistics
A live real account trading result using the LQDFX broker and the leverage of 1:300 on the MT4 platform is shown here.
From the trading stats in the above screenshots, we can see a total profit of 74.21% and an absolute profit of 74.4% are present for the real USD account. A daily profit of 0.24% and a monthly profit of 7.60% are present for the account. The drawdown value is 14.91% for the account which started in January 2021 with a deposit of $2850.
For a total of 5397 trades, the profitability of 75% and a profit factor of 1.68 are present. From the trading history, we find the lot size used is 0.01. While the drawdown is low, the profits are not very high indicating a below-average performance and ineffective strategy.
Pricing and refund
This FX robot bundle consists of three robots, which the vendor claims are sold at the price of one. The pricing is in the form of a subscription costing $65, $135, and $185 for the 1, 3, and 6 months respectively.
An unlimited subscription plan costing $295 is also present which offers lifetime access and an unlimited number of accounts. Besides the three FX robots, the packages include free product updates and 24/7 technical support. However, we could not find a money-back guarantee which makes us suspect this is not a reliable product.
What else you should know about FX Scalper X
We found 9 reviews for this FX EA on the Trustpilot site with a rating of 2.7/5. A majority of the feedback is negative indicating this is not a reliable ATS.
From the above testimonials, we can see customers complaining of not receiving the EA on purchase, blowing off accounts, and poor after-sales support. The reviews corroborate our analysis of the poor support and unreliability of the product.