Index Scalper is a Forex robot designed for both beginners and experienced traders. It mainly trades on different Forex indices, including DE30, DAX30, DE30Cash GER30, DE40, DAX40, DE40Cash, GER40, and US30. According to the vendor, the system does not need a complicated set up and is ready to be used on the aforementioned symbols.
Is Index Scalper Pro a good trading choice?
Index Scalper Pro was authored by a Russia-based developer known as Evgenii Aksenov. He is quite active on mql5 as he has managed to create and post 43 trading systems, as well as publish 21 signals on the site. Examples of the other systems Aksenov is selling are; Joker EA, Champion, Gold Dragon, PZ Grid, and Genesis EA, among others.
The features of the expert advisor are listed below:
- It is fully compatible with the vendor’s other robots.
- The recommended broker is IC markets.
- The system supports both the MT4 and MT5 accounts.
- It has an in-built stop loss and take profit feature.
- An ECN or Pro account is to be used.
- It works on the H1 timeframe, and the deposit required to begin trading is $100.
- It is recommended to utilize a VPN broker or migration to a VPS mql5.
How to start trading with Index Scalper Pro
As the name suggests, this EA uses the scalping approach. The vendor adds that he created the system based on the principle of movement to the average value of the price. It allows traders to quickly increase their account balance. You are advised to test the EA in your broker’s tester or demo account prior to utilizing it on a real account.
A lifetime license for Index Scalper Pro is $799. However, there is a renting option for traders who prefer a short-term package. So, to rent the robot for 3 months, the vendor asks that you pay $499.
Index Scalper Pro backtests
We have the backtest results of the system that have a 99% historical quality. However, the historical data period is not indicated. The EA began trading with a deposit of $1000, and at the end of the test, 53945 trades were completed. A profitability rate of 63% was attained, which translated to a total net profit of $49960888.
The drawdown, which was 2.86%, showed that the trading approach wasn’t risky. So, the robot recorded more wins than losses, as illustrated by an average profit trade of $2535.33 against an average loss of -$1899.73.
We found the trading results for Index Scalper on Myfxbook. As per the chart, this demo account was activated in August 2021, and so far, the EA has decreased its value by -11.28%. This is after it made a -€1127.94 loss from a €10000 deposit. The daily and monthly profits are -0.08% and -11.28%, respectively. There’s a drawdown of 11.28%.
The system has implemented 26 trades with -205 pips. There’s an average win of 14.38 pips and an average loss of -14.57 pips. The performance of the long (20%) and the short positions (33%) is below par. A profit factor of 0.31 is reported. This tells us that the EA’s trading activities are unsuccessful most of the time.
This account has a high probability of being wiped out.
The EA worked with the scalping approach and mainly placed buy orders. Many of the trades resulted in huge losses hence eroding the few wins obtained.
Index Scalper Pro has 5 reviews on mql5, and all of them are positive. One of the clients says that he has backtested the EA and obtained consistent profits. Another one states that the system’s backtest looks promising. Unfortunately, none of these clients talks about the current performance of the robot.
- Supports many trading instruments
- Is fully automated
- Pricey packages
- High losing streak
- Dangerous strategy
Some of the main advantages of this robot are that it is fully automated and supports numerous trading instruments. The trading outcomes of the system are not good, though. It seems that its strategy is dangerous in the real market as it closes many trades with losses. This can, in turn, cause an account’s risk of ruin to increase.