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Hunter Scalper Review: Scam or Powerful EA?

Hunter Scalper Review: Scam or Powerful EA?

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Hunter Scalper is a robot for trading low market volatility. The developer says that the robot is meant to trade one chart at a time, and the cost of one license is $625. This is definitely out the normal pricing range for most robots in the Forex market place. The first version of the Hunter Scalper robot was published on September 2018 and the second version was launched on the 3rd of December 2018. This is indeed a good sign that the developer is concerned about the performance of this robot, hence the frequent updates. We hope that this will continue with the same consistency that we see right now.

Also, since the Hunter Scalper is a only two months old, it means this is a brand new Forex robot and building a reputation can take a long time. The developer’s name is  Feng Zhu, a trader who is located in China. So far, Feng has launched two Forex robots. The other robot is known as Hells Gate. Hells Gate is a grid trading strategy robot and the price is more affordable compared to their Hunter Scalper Forex robot.

There are two ways to contact Mr. Feng. You can either do it on their MQL5 profile or message them directly from their sales page.

So the question that we want to address in this Hunter Scalper review is whether this Forex robot is a a reliable trading tool. Can we trust it? The reason why we are asking so many questions and also doubting is because this MQL5 robot is lacking in the major discussion points concerning the trading strategy of the Hunter Scalper. The developer only tells us that their robot takes advantage of low volatility periods in the market. That’s the most they can tell us about this robot, and yet we were hoping to get more information concerning the exact working strategy of the Hunter Scalper EA.

For that reason, we are going to recommend these Forex robots because their developers provide in-depth information about their trading strategies plus they have been proven to be effective in trading all kinds of market situations.

Hunter Scalper Review

There is an additional explanation regarding how this robot finds entry points. Feng claims that the EA has an in-built algorithm that finds the entry points in addition to several filters which are in charge of finding entry and exit points in trades. While this explanation is helpful, it does not give us the much needed insights into the trading methodology of the robot. We don’t know how the robots opens and closes trades since the explanation given is quite vague.

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hunter scalper

On the other hand, the developer of the Hunter Scalper provides us with some recommendations for the effective working of this robot. They tell us that the minimum deposit should be $100 and that we should use a VPS for low latency because this will give the best results. The other recommendation is that we should utilize an ECN account with low spreads.

So this means that we should find a broker that provides true ECN trading conditions as opposed to brokers that claim to have true ECN market conditions when they are just market making in the background while charging unfavorable spreads. The task is to find out which brokers are providing true ECN conditions. To cut the chase, we have compiled a few genuine ones here and you can sign up immediately if you want to enjoy trading in a professional ECN environment where your trades are not interfered with by the broker.

When traders purchase a license from this developer, they are not required to alter the settings of this robot. However, they are required to stick to one chart at a time. But this is confusing because when we look at the sales page, we see that Feng has been running this EA on different trading charts and we are wondering why we shouldn’t pursue the same approach. The last thing you want to do is run this robot in a different way from that of the vendor because this often ends in one trader getting different results from that of the vendor.

This robot trades nearly all pairs in the Forex market place. These include  AUDCAD, AUDCHF, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, GBPUSD, NZDCHF, NZDUSD, USDCAD, USDCHF and USDSGD. This is quite a variety of pairs to optimize a robot for and so we believe that the vendor will have done a good job if they provided set files for most of these pairs.

The cost of the software is a concern

The vendor of Hunter Scalper can prove that he has earned $163 with this robot and yet the price of a license is $625. We are wondering how on earth a developer can feel comfortable charging this amount when he cannot prove that the robot can recover the price of a license in the first place.

Now, there is a second option for using this robot. The developer wants those who cannot afford to pay the full price of a license to settle for $62.50 a month. This is still high because it will eat into your earnings every month.

Therefore, we feel that the pricing of this robot is inappropriate. Even if the Hunter Scalper was a good robot, this pricing model would greatly discourage those who would like to purchase a license.

Trading results

The vendor provides a link to their Myfxbook account which shows that this account was created in October 2018 and has gained over 80% so far. The draw down is just 6.6% which is impressive.

The problem is that this is a very small data sample to make conclusions immediately. Otherwise, the developer has shown us a good gesture by including their trading results for us to make a decision.

Our best advice for you

That being said, we still feel that there are a few things that need sorting. If you’re in need of a good robot, click here.

Summary
Review Date
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Hunter Scalper
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