Forex Robots

Smart Scalper Pro Review: An Underdeveloped System

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Smart Scalper Pro

The developers of Smart Scalper Pro boost the algorithm all over the website in a bid to attract buyers. It can trade on multiple currency pairs and has various settings that traders can tweak according to their liking. We will analyze the robot and see if it is safe for us to use and diversify our portfolio with it.

Smart Scalper Pro strategies and tests

It is simple to use the service. The whole process is:

  • Purchase the robot and place it in the experts’ folder
  • Enable the auto trading tab and attach the system to charts.

The company is not fully transparent about its strategy and says that the robot uses a reasonable stop loss and take profit. It has built-in risk management settings, which are used to adjust the lot size accordingly. From the history on Myfxbook, we can see that it trades on multiple pairs and holds positions for 7 hours and 30 minutes which conforms to a day trading approach.

History on the website

History on the website

Features

The robot has the following features:

  • It has many settings that traders can tweak to change the output.
  • Traders can adjust the risk management.
  • There is an advanced news filter to avoid volatile conditions.
  • The robot can work on multiple currency pairs.

Backtesting

Backtesting results are available for GBPUSD. The relative drawdown was around 9.05%. The winning rate was 76.67%, with a profit factor of about 1.36. All the tests were done on the 15 minutes chart with a starting balance of $1000. The robot tanked an average profit of $12.25 during this period. There were 13495 trades in total. The best trade was $103.25, while the worst one was -$224.25.

Backtesting records

Backtesting records

Smart Scalper Pro live trading account review

Verified trading records are available on Myfxbook that show performance from June April 06, 2021, till the current date for Smart Scalper Pro 2. The system made an average monthly gain of 8.37% during the period, with a drawdown of 10.63%. The winning rate stood at 71%, with a profit factor of 1.75. The best trade was $22.96, while the worst was -$112.35 in a total of 198 trades. The developer made $1000 on a demo account.

It is alarming to note that a demo account is not a good way to track results as they do not respect real market liquidity and slippage. The performance will be worse on a live portfolio.

Records on the website

Records on the website

Pricing

The robot can be purchased for an asking price of $127. It comes with a  license for 1 live and 3 demo accounts. There is a 60-day money-back guarantee in case a trader is not satisfied with the product.

The pricing plan of the service

The pricing plan of the service

Is the Smart Scalper Pro a scam?

Smart Scalper Pro is not a good robot as it does not have results on a live account. Trading on a demo is no way to show the output of a system. The developer might be afraid that their scalper might fail on the real portfolio; therefore, they decided not to post the output.

Smart Scalper Pro

5

Smart Scalper Pro is not a good system to purchase as it lacks transparency on live records and does not give information on the strategy. Traders will have to take a huge risk if they choose to use the system for their accounts. It is better to avoid such kinds of robots in the financial marketplace.

  • It has multiple backtesting records
  • No transparency of the developer
  • There is no information on the strategy
  • Live records are on a demo account

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