Hoping to lure traders with its automation system, Ninja Scalper claims that it can deliver assured profits. This Forex robot boasts of an algorithm that can prepare you for all types of financial market situations.
As the name suggests this expert advisor uses a scalping strategy for its MT4 compatible trading process. Is this automated Forex trading system suitable for you? Can you trust this EA to deliver the results it assures? Find out from our exhaustive Ninja Scalper review.
Designed to work on the Metatrader 4 platform, Ninja Scalper comes with several automation tools for trading. Some of the tools include risk management that allows setting maximum drawdown limits so all open orders are closed on reaching the limit. This allows users to control their risk level. A dedicated WhatsApp and email support are offered for assistance in the installation and configuration of the robot.
Other features of this trading software include lot management, compliance with FIFO rules, recovery of swap and commissions, accessibility to its community on Telegram, and automatic detection of currencies including exotic ones such as the Russian ruble, Japanese yen, etc.
We could not find information about the strategy used by this Forex robot except that it determines the right entry and exit points using statistical analysis. The lack of strategy explanation is a big drawback on the part of the vendor. Further, there is no mention of the vendor on the webpage except for an address provided. This lack of transparency makes us suspicious about the reliability of the vendor.
How to Start Trading With Ninja Scalper?
We found four different price packages for this expert advisor. At $149, the Wow Package is the expensive one, but with a full lifetime license and all other features like support, updates, use on multiple computers, and Telegram group access.
Next comes the Huge Package, which costs $100 for six months. The other two packages include the Basic, which costs $30 for 30 days, and the Popular Package priced at $50 for 3 months. Many of the features provided with the Wow pack are not offered on the other packs.
According to the vendor, the robot works best on Cents accounts and the minimum recommended deposit is $50. Users can choose from the conservative, aggressive and standard modes of trading. The main pair focused on by this system is the EURUSD pair with a timeframe of 5 minutes. Based on the vendor information, 20 years of testing have gone into the design of the system to ensure the right entries and exits are made.
Backtests of 99% quality are displayed by the vendor. Two of the backtests are shown below. One is taken over a 20-year period with a $1000 deposit and the other is over 5 years with $3000 as the deposit amount.
Based on the vendor information these tests prove the consistent results this system can provide. Since backtests are historical data that do not predict future performance we are skeptical about the system reproducing similar results as there is no clear explanation of the strategy used.
Partly Verified Trading Results of Ninja Scalper
A demo EUR live account traded using Tickmill with leverage of 1:400 is displayed on the official webpage. While the trading privileges are verified on the myfxbook site, the track record is not verified. From the results, we could see a gain of 30.34% and a daily gain of 0.10%.
A high drawdown of 50.41% is posted which does not bode well for this system. Furthermore, many of the details like the balance, equity, etc. are hidden by the developer, which prevents us from getting the full picture of the performance.
And, from the trading history, we could see the lot sizes are huge which shows the high-risk strategy used by this Forex robot. The profit factor is 1.70 for 405 trades done over a span of 8 months. We find the performance to be lacking in several aspects and we would like a real live account result for better assessment and preferably with all the details revealed.
Other than the customer reviews posted on the official page, we could not find any user feedback for this Forex robot. Since these reviews could be manipulated, they do not count.
Is Ninja Scalper A Viable Option?
From our review of the various aspects of Ninja Scalper expert advisor, we do not find it a viable option. Here are our reasons:
- Fully automated system
- Strategy used in not explained
- Poor trading results
- No user feedbacks
- Refund is not offered
- Lack of vendor transparency
Wrapping up our Ninja Scalper robot review, we do not find the system to be a reliable one. For an expert advisor to be effective it has to reveal excellent trading results, which this system has failed to do. The high drawdown and huge lot sizes indicate the Forex robot uses high-risk strategies that many traders would not be comfortable with. Furthermore, the lack of vendor transparency and the absence of reliable user feedback add to the shortcomings of this automated trading system. Suffice to say, we rest our case.