BF Scalper Pro EA was developed by one of the programmers working for FXautomater (or at least this is the claim). It is a brand new automated trading program with many different features in conjunction with “pure and simple trading logic.”
The creator of the system tells the community that his system sets itself apart from other market competitors because of their reasonable profit levels, and different trading filters.
Today we will let you know if this trading program is viable and worth spending the time to understand exactly how it works.
The creator of the robot is Lachezar Krastev from Bulgaria. According to his MQL5 profile, he is part of the FX Automater team, which has developed many robots over the years including the Forex Gold Investor, Forex Diamond, Wallstreet Forex Robot and many more.
These trading programs are some of the more popular commercial options in the automated expert advisor marketplace as they are marketed quite well by the development team.
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In order to get in touch with support, traders can fill out a contact form on the FX Automater website. Otherwise traders who are not interested in this EA can find alternatives here.
This was originally released as a free system, the vendors decided to put more effort into the program and release the BF Scalper Pro. This professional version is much like the original, but it has an improved exit logic, a new ATR based stoploss calculating algorithm and many other features to improve the robots overall efficiency.
The professional version features include low drawdowns, 18 year back test performance, multiple currency pair support, news filter, volatility filter, Friday exit system, grid system, push notifications, and new exit logic.
One of the aspects that we find unique, is the on chart print out application. While most vendors provide a very simple printout, the FX Automater team gives traders the option to click to enable or disable different options. Traders can activate and deactivate trading, stealth, news filters, and restricted day trading by clicking buttons on the chart. This isn’t important to the overall success of the program, but aspects like these are usually what we look for in our best Forex robot ranking.
This is a scalper based on its name based on the name. The BF Scalper Pro EA uses a Forex scalping strategy to trade the Forex market. Though, despite providing us with analysis of a handful of different features within the trading program, the vendor doesn’t give us much insight into the general scalping approach. We are aware that the system takes into account money management, news, time management and dynamic stop loss, but none of these aspects provides a clearer picture of why the program trades the way it does.
Instead, the strategy discussion is focused on an optional feature, which is their “grid system.”Traders can enable grid trading as a new feature of the robot, and choose between modes to limit or increase the overall risk. As you likely already know, grid trading and martingale trading are very risky ways to approach the Forex trading market. Yet, the vendor seems to spend more time discussing this aspect of the service than any other which really makes it seem imperative to the overall strategy.
Would like more transparency about the scalping approach, but do feel like the vendors are pushing their grid trading as the main approach that should be used, as they even provide over 10 settings specifically for this type of trading.
For traders interested in the BF Scalper Pro EA, it goes for either $97 or $147 depending on if a sale is currently active. At this price, traders get access to one real account license, 3 demo account licenses and a 60 day moneyback guarantee.
There are also settings files available on the front page of the website for traders to download before or after they purchase the software.
At this point in time there is very little client feedback available. There are a few reviews on the MQL5 website, with an average rating of 4/5 stars, but we don’t trust this review section much as many fake reviews always seem to get through on this platform.
The vendor provides 3 different BF Scalper Pro EA Myfxbook accounts on the sales page. A real account, and two demo accounts. To the accounts, including the real account and only been running for a couple of months, so our main focus today will be the longest running demo account which started March 20th, 2019.
This demo account with IC Markets is showing a gain of 50% with a draw down of just 6.37%. It has made 725 transactions with an average trade length of 8 hours and 54 minutes. The risk reward ratio is 1:1, with the average win coming in at 6.69 pips and the average loss coming in at -6.89 pips.
The robot has been running for 9 months, and 6 of those months have ended in a positive gain. The average win rate is 67.5% and the trading record is mostly stable.
Our conclusion is somewhat positive on this Forex robot but there are also some caveats that we all need to consider. The BF Scalper Pro is an interesting robot, and one that certainly needs to be considered. The trading results are steady, and they offer modest gains which is something we hope to see from most trading systems. There doesn’t seem to be anything shady going on here, but we would like to see some real client accounts and get more client feedback before we provide a final recommendation. Having said this, we are still recommending the usual Forex trading products to the community.
Also, if you have anything you would like to add to the review, please leave your questions and experiences below the article now.
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