Euronis Scalper is a fully automated robot for the Forex market that was published on the mql5 website on August 7, 2021. It has 10 activations so far. The newest version of the robot is 1.231. Unlike other EAs, this product hasn’t received much hype from the vendor.
Euronis Scalper is the creation of an individual called Denis Sotnikov from Russia. He has also developed other EAs including Euronis for the MT4 platform, Oracle, and Sync Charts (for both the MT4 and MT5 terminals).
A closer look at the profile on mql5 shows that this developer works under a company known as Forex Over which has been in existence since 2009. Unfortunately, his credentials and more background info about the company are missing.
Features
Euronis comes with the following features:
- Uses various currency pairs including EURUSD, GBPUSD, USDCHF, USDCAD, USDJPY, EURAUD, GBPAUD, AUDCAD, EURCAD, and CHFJPY
- Applies real and virtual (hidden) StopLoss levels
- The minimum deposit is $100. For smooth adjustment of lots, $300-$500 is recommended
- Has all logic built in, and therefore, importing settings is not needed
- ECN brokers are recommended
- Lower spreads are recommended for improved performance
- Grid and martingale strategies are not used
- Has custom indicators to ensure that market entries and exits are accurate, without waiting for drawdown
- Single chart installation to run all currency pairs for easy configuration
- Supports hedging and netting modes
- Advanced visual analysis of trade configuration on one chart
The system applies the scalping strategy. This means that the system tries to make profits from small movements in price. It buys and sells the currency pairs, only holding the position for a short period, i.e., a few seconds or minutes. The main disadvantage of this approach is that it produces small profits on every trade, which makes it hard to meet the financial goals of the trader.
How to start trading with Euronis
Euronis is an expert advisor. What this means is that it monitors and trades Forex on behalf of the trader using inbuilt strategies.
If you are interested in the robot, you can get it on mql5 market place where it is being sold at $499. This price is available for the next 10 copies. The usual cost is $799. You can also choose to rent the robot at $100 for a period of 1 month. No money-back guarantee is offered.
Backtests
This system was backtested using the EURAUD currency pair between 2015 and 2021 using a fixed lot of 0.1. From an initial deposit of $10,000, the EA managed to create a total net profit of $36,572.36. The maximum drawdown (5.42%) was small. The profit factor was 3.30.
The robot executed 1416 trades attaining win rates of 82.20% and 83.89% for short and long trades respectively. The average profit trade was $44.72. The average loss trade (-$65.84) was higher by 21 pips. This shows us that the trades conducted by the EA had higher chances of resulting in losses than wins.
Trading results of Euronis
Trading stats for different systems under Euronis are showcased on Myfxbook.com. In this case, we chose to focus on Euronis Scalper XPS.
We have been provided with a real USD account that operated under Pepperstone brokerage. It was deployed on July 27, 2021, and in a month, it has grown by 16.41%. The account was initially deposited at $500, and a profit of $81.96 has been generated. The balance presently stands at $576.21.
The EA has been making daily and monthly profits at rates of 0.45% and 15.80% respectively. The drawdown of 3.58% is still small and doesn’t present threats to the capital.
So far, a total of 76 trades have been executed. The winning rates for long trading positions (65%) are quite poor. Though higher, the win rates for short positions (80%) do not inspire any hope of growing the account significantly. The profit factor is 4.15.
The pips made are 280. The average win is 5.86 pips when the average loss is -2.02 pips. However, data on lots traded is concealed. Perhaps the lot sizes used are large and the owner does not want us to know that his system subjects the trader’s investment to high risks.
Thursday is the most traded day with 18 deals completed.
The account cannot be wiped out easily.
The profit made in August is 14.29%.
The profits made were small. The scalping strategy is evident as the EA traded on short time frames of anywhere between 4 minutes and 5 hours.
Customer reviews
There are only 2 customer reviews for this EA on mql5. These testimonials are not enough to help us ascertain what traders really feel about the system. We will have to wait longer to get more feedback from clients since the system was released to the market just a month ago.
Is Euronis Scalper a viable option?
Advantages
- Live trading results are available
- Backtest results are provided
Disadvantages
- Short trading history
- Lack of vendor transparency
- Unprofitable strategy
- Poor customer feedback
Summary
The EA has made profits and managed to maintain low drawdown levels for the short time it has been on the market. However, we need more time to ascertain if it can sustain this trend. We know that the scalping method generates small amounts of profits per trade and one huge trading loss can hence obliterate any gains from several winning trades. So, do not rush to invest in this product because you may end up regretting it later.
