Forex scalping brings in smaller but regular profits, provided you place several trades in a day. Furthermore, the risks are lower here. But, predicting the market movements constantly can be difficult to achieve. This is where automatic trading systems lend a hand.
When you choose the right system, you can assure steady trades and consistent profits. Our experts have analyzed the Euro Scalper Pro system to see whether it is a suitable one for traders interested in scalping. This is a fully automated Forex trading system that offers copy trading and Forex signal services.
Is This Scalper System A Reliable One?
As the name implies, this trading system uses short-term scalping, along with price action trends to ensure performance. Trades are executed automatically using the Trade Copier system. According To the website info, you can have complete control of your funds and lot size and add funds or withdraw at any given time. One important stipulation of the trader is opening a live MT4 micro account with a minimum of $1000.
No info is provided related to the developer or team behind this system. In the About Us section, there is a general mention of the trading company, its clients, and the type of trading assistance it provides. Despite the company being in operation for more than 40 years, it does not provide information on the location address, phone contact, etc., which we find suspicious. The customer support is via the contact form on the website and email. EUR/USD pair is the main currency pair focused on by this system.
How to Start Trading With Euro Scalper Pro
Two packages, a free and a paid service, are offered by the system. For the free service, which is offered for a lifetime, you need to have a live MT4 account through the broker the system recommends, which needs a minimum deposit of $1000. The free service offers unlimited access to the Trade Copier and signals service.
With the paid subscription, a monthly and annual membership is offered. The monthly package costs $197, while the annual membership costs $1,997. No restrictions regarding the broker are present in the paid package.
According to the info provided on the website, this system can be used easily. For the free service, you need to first open an MT4 account via the recommended broker and send an email to the system upon which you get free access to the signals and trade copier system.
Euro Scalper Pro Backtests
We could not find strategy reports/backtests of the system on the site. The backtests provide a proper perspective of the performance of the system. Although the backtests reveal the performance from historical data that does not predict a similar performance in the future, traders find them a useful tool for assessing a system.
A live account trading since December 2020 is shown on the site. And, the screenshot of the result is shown below:
The USD account uses a leverage of 1:500 and a lot size of 0.10. While the results show a promising performance with the profit showing a steady percentage of around 3%, we prefer results verified by reliable sites, such as the myfxbook.com site.
The reason is we can find more details about the trading, such as the drawdown percentage, profit factor, and other relevant info. Furthermore, the chances of the results being manipulated are minimum with a trusted site.
The system offers Copy Trading on the MT4 platform. Since the main strategy used is scalping, which requires immediate execution of orders, copy trading can slow down the pace and impact the results. This is particularly true if you do not have a stable VPS connection.
User reviews for the Euro Scalper Pro expert advisor are found on the Trustpilot.com site. A few of the reviews are shown in the screenshots below:
From the above reviews, we can see the performance is not as claimed by the vendor. One user mentions a drawdown of 65%. Another user claims that the live account drains money while the demo account showed favorable results. The positive review indicates the results match with what the website shows.
From our analysis of the Euro Scalper Pro Forex robot, here are the significant pros and cons exhibited by the system.
- Fully automated signals
- Free service is provided
- Does not provide verified trading results
- User reviews indicate poor performance
- Support is not sufficient
Summing up our review of Euro Scalper Pro expert advisor, the system has more downsides compared to the positive aspects. On the positive side, the free signal service is a definite advantage.
But, the use of the broker recommended by the system being mandatory makes the offer less effective. Other than mentioning scalping, the vendor does not provide a clear insight into the strategy.
Furthermore, the absence of verified results is a major downside that prevents us from making a proper analysis of the system. From the negative user reviews, it is obvious that the system must improve on the performance front before we can consider recommending it.