GerFX Review

Sep 27, 2021 07:33 PM ET
GerFX Review

GerFX Density Scalper is a Forex trading tool that uses a mean reversion during quiet trading hours. As per the developer, this is like the QuantFlow Scalper but with some optimizations done to lower the slippage. This FX robot works on multiple currency pairs and does not use risky approaches like the Martingale or the grid methods. Instead, it uses an SL for every trading position.

GerFX

Type

Fully-automated EA

Price

$2000

Strategy

Night scalper

Compatible Platforms

MT 4, MT 5

Currency Pairs

Multiple currency pairs

Timeframe

M5

Recommended Min. Deposit

N/A

Recommended Deposit

N/A

Leverage

N/A

Trading strategy explanation

Features of GerFX Density Scalper.

Paul Exler is the developer of this FX EA. He is the CEO at Exler Consulting Gmbh and works with a trader team based in Germany with experience of over 10 years. The firm has developed 10 products and 21 signals.

As per the developer,this ATS uses a mean reversion approach during night trading. It provides various optimization parameters for entries and other enhancements. One of the optimization examples is the faster calculation due to a reduced entry logic and TP orders are used for exits which can cause a positive slippage. The lack of explanation of the night scalping approach and the various enhancements done raises our suspicion about the reliability of this EA. 

This FX robot works on the following currency pairs: EURUSD, GBPUSD, EURCHF, USDCHF, USDCAD, EURCAD, EURAUD, AUDUSD, AUDNZD, AUDCAD, and CHFJPY. The developer claims that more pairs are being experimented with. A five-minute time frame is used. We could not find info on the recommendations for the minimum deposit, the leverage, and other risk management features.

Backtest data analysis

Backtesting results for GerFX products.

The developer mentions that the maximum drawdown for this EA in a 16-year backtest was $35-50 per 0.01 lot. There is a table shown above displaying the backtesting results for the various FX products of the developer. We prefer a full-fledged strategy report as the details in the table above do not reveal all information we need for analyzing the system. The lack of a backtesting report raises a red flag for this EA.

Live trading data analysis

Trading results

Myfxbook Account

Real (EUR), Pepperstone

Started

January 12, 2021

Deposit

€154.79

Balance

€179.62

Gain

31.53%

Daily

0.11%

Monthly

3.30%

Drawdown

2.18%

Profitability

80%

We found a real EUR trading account verified by the myfxbook site. The account uses the Pepperstone broker and the MT5 platform. 

Growth curve for GerFX Density Scalper.

Advanced stats for GerFX Density Scalper.

From the above screenshots, we can see a total profit of 31.88% and an absolute profit of 34.17% are generated for a deposit of €154.79. For the account started in January 2021, the daily and monthly profits are 0.11% and 3.27% respectively. A drawdown of 2.18% is present in the account. From the advanced stats, we can see a total of 363 trades have been executed with a profitability of 80% and a profit factor of 2.89. The trading history reveals a lot size of 0.01 is used for the trades. While the drawdown is low and the profits are not very large. This indicates the performance and strategy are not effective. 

Pricing

Pricing package for GerFX Density Scalper.

This FX EA is sold for $2000. A few rental options are present which include a one-month rental costing $140, a three-month rental for $370, 6 months rental for $700, and an annual rental for $1250. We find the price is exorbitant as most of the competitor scalper systems are sold for a much lower price. 

Since there are less expensive systems with more features and performance potential, we feel this EA is not worth the price. Furthermore, there is no mention of a money-back guarantee which indicates that this is not a reliable ATS.

Customer support

Other than messaging via the MQL5 site, we could not find any other support methods present for this product. The lack of support methods raises another red flag for this EA.

Review summary

Pros

Cons

  • Fully automated trading software
  • Vague strategy explanation
  • Verified trading results
  • Trading results show a low-performance potential
 
  • Expensive price

GerFX Density Scalper claims to avoid dangerous approaches like grid and Martingale methods relying mainly on the SL for every position. Our evaluation of the FX robot reveals that this is not a trustworthy system. The developer does not provide sufficient info on the strategy and the backtesting results. Although verified live trading results are present the profits are not high despite a low drawdown. Furthermore, the expensive price, lack of money-back assurance, and insufficient customer support add to the unreliability of the system. 

Rating: 5/10


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