GerFX Density Scalper is an EA that is notable for its huge cost. The system has been in the market for almost a year now, and the vendor assures us that it doesn’t use risky trading techniques like grid and martingale.
GerFX Density Scalper was authored by a German called Paul Exler. He is the CEO at Exler Consulting GmBH, a company with no reputation in the Forex market. Paul says that he works with a team of traders from Germany with more than 10 years trading experience. Even so, he doesn’t mention their names or profiles. Furthermore, Paul’s qualifications and expertise on matters involving Forex are unknown. So, it is easy to doubt the capabilities of his system.
Features
The features of the robot are outlined below:
- It supports multiple currency pairs: EURUSD, GBPUSD, EURCHF, USDCHF, USDCAD, EURCAD, EURAUD, AUDUSD, AUDNZD, AUDCAD, CHFJPY. There also are experimental symbols: USDJPY, EURJPY, EURGBP, EURNZD, GBPAUD, NZDUSD, NZDCAD.
- The preferred timeframe is M5.
- It only works on the MT5 trading platform.
- Traders are advised to ensure that it runs on a VPS constantly without being interrupted (also Friday evening) to store historical data.
- It should be turned off during important events, e.g., general elections in the US, UK or Europe.
- Stop losses are also attached to each position taken to reduce losses.
GerFX is said to be a night scalper. This means that it scouts for small price changes occurring at night to obtain profits from them. We are also told that GerFX is a mean reversion system during the quiet hours of the day.
How to start trading with GerFX Density Scalper
GerFX Density trades automatically. It searches for, identifies, and places trades for you. So, for it to start trading in your place, you have to buy it. The asking price for the EA is exorbitant. A look at the pricing screenshot below, it is evident that the developer expects you to pay $2,000 for it.
The renting options are not cheaper either. To use the product for a month, you need to pay $140 or $370 to enjoy its services for 3 consecutive months. The 6-months and 1 year options cost $700 and $1,250, respectively. A money-back guarantee isn’t even available, something that may put off many traders.
Backtests
We are looking at the backtest data for the EURUSD currency pair. The EA conducted trades using this instrument from January 2003 to December 2020. Within this period, it implemented 6184 trades, winning approximately 85% of the short and long positions. The resulting profit was $11,849.70, an earning that was quite small. The profit factor was 2.75, whereas the maximum drawdown was 1.09%.
Verified trading results of GerFX Density Scalper
We have verified live trading results that can be found on Myfxbook.com. As per the data, the account was deployed early this year, January 12, 2021, to be precise. The performance of the EA is distressful. It can only earn traders about 0.10% daily and 3.01% monthly. The good news is that the drawdown rate is safe and bearable — 2.18%.
The account was funded with €155.20 during its launch, and the robot has used it to generate a paltry profit of €47.61 to date.
We have 386 trades with 935.8 pips so far. The average win is 3.95 pips when the average loss is -3.49 pips. The worst trade has led to the loss of -$3.66, and the best trade has earned the account a mere $1.29. There are win rates of 81% for long positions and 77% for short ones, along with a profit factor of 2.86.
The EA does not engage in risky trading activities.
The EA is mainly active at night.
Customer reviews
A handful of customers on mql5 commend the performance of this robot. They are saying that it is excellent and only generates small losses. However, we normally prefer testimonials from unbiased sites like Trustpilot and FPA. To our disappointment, we couldn’t find any feedback regarding the efficiency of this system on the two platforms.
Is GerFX Density Scalper a viable option?
Advantages
- The vendor has provided live trading stats
- Backtest results are also present
- Safe trading strategy used
Disadvantages
- Very costly
- Low return rate
- Insufficient vendor transparency
- Untrustworthy customer feedback
Summary
It doesn’t make any economical sense to invest in an overpriced product that generates meager earnings. You will spend a lot of money acquiring it and then wait for a long time, probably years, to break even. This requires a lot of patience, an attribute many traders in Forex lack. So, you will be better off trading manually or using other EAs that have been proven to be more productive.
