Apex Scalper EA Review is out after some users enquired about it. Sadly, the platform keeps coming in and out of the trading market. The platform is owned by Cutting Edge Forex owned by a person called Joseph Smith. Cutting Edge Forex has been in the industry for a while and produced several products. Other products under their belt include CEF Silicon Falcon, CEF Visitor, and Phantom Scalper. Most of these products have not been received well by the trading community.
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The platform is on sale on MQL5, which is a shared trading place for indicators, robots, and signal products. During our investigation, the vendor deleted this system on myfxbook. We still conducted the review, thanks to our skilled experts who were able to find some issues. The vendor is not new and is probably going to revamp Apex Scalper under a different name. And this begs the question, why did he have to delete the platform if it was legit?
Apex Scalper is notably low when it comes to their overall design and presentation. The founder should also do a better job with his other products. There is a similarity with all his creations, which point to his lack of creativity. The vendor does not provide enough information on the robot’s capabilities. And this is why most investors are ignoring the robot even though it shows some promise. Investors want to work with a robot that is transparent and offers relevant trading information.
Apex Scalper is not compliant with US trading rules according to the regulators. We checked with the CFTC and NFA to confirm their status. With most users coming from that region, the platform ought to get a valid license. There should be no excuse, as the vendor is over seven years old. With every product released, there should be a precise license detail. And this is another reason why investors are staying away from the robot. Such a robot does not provide security for deposits made.
And herein is the problem with unregulated online trading products and services. There is no insurance cover for funds deposited. The vendor might state a money-back guarantee, which is not enough. These vendors who fail to have a valid license will likely go back on their word. Recovering funds from such a vendor is a huge problem. And this is why no one should go out of their way and sign up. Without a valid trading permit from authorities, the risks involved are high.
It is still not clear on the assets covered by this robot. The vendor should do a better job and ensure all traders have full trading instrument information. What the vendor states is that the products don’t use high-risk strategies such as Arbitrage, Grid, Hedging, and Martingale. They should, however inform users of the available currency pairs. Does the robot use major or minor currency pairs? The vendor should also notify users of the available timeframes, which he fails to disclose.
Joseph Smith is a name that is common but not available in the trading world. We searched for his trading credentials but couldn’t find any valid information. It seems that this is a made-up name, which is a problem. His MQL5 trading profile does not give us any valuable information on his trading background. It only states that he lives in the United States, which could be highly unlikely. Most vendors will choose this location to try and get a hold of investors from the region.
There have been many comments from users who were asking about the robot. Investors should know that these comments were asking for the platform’s capabilities. The comments were in no way endorsing the use of this robot. One of the current members had given the robot a one star. The member claimed that the robot was slow at executing trades and not compatible with the MT4 platform. With such a low rating, it means that the vendor is not yet entirely gone professional.
Domain tool checkers allow us to determine the history of a trading system. With history, one can learn a lot about the platform’s capabilities. The site went live on 26th January 2013. And this means that cutting edge forex has been around for over seven years. They should by now have a strong user base, which is not the case. What is shocking is that the site seems to have hosted other online trading products. There have been six notable changes on six servers over the past thirteen years. And this is proof ownership of the site has changed several times.
The vendor claims that his trading algorithm comes with an intelligent exit mechanism. Thanks to this algorithm, it allows the vendor to break-even loss prevention and smart trailing stop. Joseph also claims that the platform comes with volatility protection that shields traders from excess volatility. If the volatility exceeds a one-minute timeframe, the shield protects users from experiencing massive losses. The platform also has default settings optimized for one currency pair, GBP/USD.
Apex Scalper is advocating for a single purchase of this platform. The platform is going for $299, and this is the bonus price. Joseph states that the cost will avert to the original tag of $399. The vendor claims to have tested the platform with 99 percent tick modeling quality. It helps to reflect the market’s vulnerability and spreads. Users who want to get optimal results with the platform are urged to sign up with a VPS provider. They claim that the servers of the VPS should be close to your preferred broker.
The only way to contact Joseph is via his main page cuttingedgeforex.com. Joseph uses a message board and does not give users a response email address. There is no phone number listed on the platform, which is a bit chaotic. The user who wants to make direct communication with this vendor has a hard time. A real platform will offer live chat or telephone number for direct contact. Even the comments on MQL5 have a long delay before the vendor sends a response.
It seems that PayPal is their preferred mode of depositing funds. The platform is ideal as users can easily file a chargeback and demand their funds back. There are other notable depository options listed by the platform. These include American Express, Discovery, MasterCard, and Visa. There has been no mention of when a user can withdraw funds. No one has posted any proof of drawing profit thanks to this robot. And this says a lot for a vendor who has been with us since 2013.
Another problem with the vendor is not providing audited trading results. He just provides backtests which are not as efficient as results from a real trading account. And this is another reason why we have to stay away from the platform. Without actual results, it means that the platform is using simulations of projected income. And this is not the same as the results users would get from an existing trading platform. It is the reason why we have to ignore recommending this robot.
Apex Scalper is a robot with years of online experience but lacks the required trading pedigree. Without valid results, the platform is merely a demo account. There is no way of trusting what the vendor sells if they do not test it on a real trading platform.
We won’t be recommending this platform as it is a hoax. The platform is likely going to make users lose their funds.
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Our team wishes every investor and trader a safe trading experience.
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