Index Scalper PRO works on stock market indexes on the H1 timeframe with a minimum deposit of $100. It has a built-in exit system that allows it to maintain risk management while trading. There are backtesting and live records available on the website, which we will consider in our review to see if the system is good enough.
Features
The robot has the following features:
- It requires a minimum deposit of $100
- Traders can use it on multiple indexes
- There is a virtual stop loss and take profit to avoid stop hunting from brokers
- The robot works on an ECN or PRO account
The developer is not fully clear on the strategy that the robot is using to trade the markets. They only state that it uses an averaging methodology and trades on indexes with a virtual exit system. From the live records present on the MQL 5 marketplace we can observe the use of grid methodology. There is a stop loss and take profit attached with each position. The average holding time of 2 minutes confirms the use of scalping.
How to start trading with Index Scalper PRO
To get the service up and running traders have to use the following steps:
- Purchase the system from the developer on the MQL 5 marketplace
- Download it on your MT4/5 platform
- Place it on your charts
- Do not forget to enable the auto-trading button
Price
The EA is available for an asking price of $1250, and there is no money-back guarantee. The developer does not provide any renting options for the expert advisor.
Verified trading results of Index Scalper PRO
Backtesting results are available for unknown currency pairs where the relative drawdown was around 2.86%.
The winning rate was 63.7%, with a profit factor of about 2.34. The test was performed on an unknown timeframe with a history quality of 99%.
From $10,000, the robot tanked an average profit of $49960888. There were 53945 trades in total, with 107890 deals in which the best trade was $23097.42 while the worst one was -$3472.71.
Verified trading records are available on MQL 5 marketplace that shows performance from January 06, 2022, till the current date. The system made an average monthly gain of 57% during the period, with a drawdown of 70.2%. The stated drawdown is high, showing us that that system loses more than half of its balance while trading.
The winning rate stood at 69.6%, with a profit factor of 1.08. The best trade was $517.27, while the worst was -$891.61 in a total of 3836 trades. The developer made $1000 in deposits on a demo account.
Vendor transparency
Evgenii Aksenov is the author of the product who resides in Russia. The developer has a total trading experience of 3 years according to the MQL 5 marketplace and has 36 subscribers for their services.
Customer reviews
The algorithm has a total rating of 3.4 for nine feedbacks on the MQL 5 marketplace. One of the traders says that they have tested the robot on three real brokers and are only experiencing losses. There are a total of 43 users of the EA on the Telegram page, and none of them are making any profits as of now.
Is Index Scalper PRO a viable option?
The robot has the following benefits and demerits.
Advantages
- Traders can use it on multiple indexes
Disadvantage
- No detailed backtesting statement
- A high drawdown
- It uses averaging
Conclusion
Index Scalper PRO has a high drawdown on the live account within a short duration. It loses more than 50% of the account balance. The developer is not transparent on the backtesting records. The product’s asking price is also high, with no renting options available to test it out.
